As Demand for Food Delivery Skyrockets So Do Complaints About Drivers
A soaring demand for food delivered fast has spawned small armies of couriers — and increasing alarm — in big cities where scooters, motorcycles and mopeds zip in and out of traffic and hop onto pedestrian-filled sidewalks as their drivers …
Workers’ Comp Fraud Task Force Uncovers $30M Scheme in California
A pair of businessmen were arraigned on multiple felony counts including insurance fraud, grand theft, and tax fraud after a California Department of Insurance investigation found they allegedly underreported over $29.2 million in payroll to illegally save on workers’ compensation …
People Moves: Alliant Grows Midwest Benefits Team with Richard as VP, Schmidt as SVP
Alliant Insurance Services, headquartered in Irvine, California, expanded its Midwest team by adding Matt Richard as vice president and Tricia Schmidt as senior vice president within its employee benefits group. Richard, based in Kentucky, has more than 20 years of …
US Supreme Court to Hear Facebook Bid to Scuttle Shareholder Lawsuit
The U.S. Supreme Court agreed on Monday to hear a bid by Meta’s Facebook to scuttle a private securities fraud lawsuit accusing the social media platform of misleading investors in 2017 and 2018 about the misuse of its user data …
Supreme Court Seeks U.S. Government Views on Honolulu Climate Suit Against Oil Companies
The U.S. Supreme Court on Monday asked President Joe Biden’s administration to offer its views on a bid by Sunoco and other oil companies to scuttle a lawsuit by Honolulu accusing them of deceiving the public about climate change. The …
Attempted Bribe Doesn’t Stop Jurors From Convicting Defendants in $40M Fraud Scheme
MINNEAPOLIS (AP) — A jury convicted five Minnesota residents and acquitted two others on Friday for their roles in a scheme to steal more than $40 million from a program that was supposed to feed children during the coronavirus pandemic. …
Financiers Plan to Launch Texas Stock Exchange
DALLAS (AP) — A group of financial firms and investors is planning to launch a Texas-based private market stock exchange and offer traders an alternative to the New York Stock Exchange and Nasdaq. The group, which includes BlackRock, Citadel Securities …
Freighter Ship in Lake Superior Collided with Something Underwater: Coast Guard
AULT STE. MARIE, Mich. (AP) — A freighter in Lake Superior hit something underwater on Saturday and started taking on water, according to the U.S. Coast Guard. The Coast Guard Great Lakes district received reports about 6:53 a.m. that a …
Austin Flood Mitigation Makes Residents Eligible for 25% Insurance Discount
Austin residents can now receive up to a 25% discount on their flood insurance thanks to the city’s upgraded Community Rating System score from the Federal Emergency Management Agency (FEMA). Last month, FEMA notified the City of Austin that it …
North Carolina Commissioner Lands on 8% Rate Increase for Dwelling Policies
North Carolina Insurance Commissioner Mike Causey has settled on an 8% average rate increase for dwelling insurance policies, starting Nov. 1. The North Carolina Rate Bureau, basing its request on data from property insurers, last summer had urged an average …
US Chamber of Commerce: Nuclear Verdicts’ Amount, Frequency Continue to Increase
A recent report from The U.S. Chamber of Commerce Institute for Legal Reform (ILR) has found that nuclear verdicts of $10 million or more are on the rise. Looking at verdicts from 2013 to 2022, ILR said the median nuclear …
California’s Capital Will See Temperatures Above 100F This Week
California’s Central Valley will have another round of searing temperatures that will boost energy demand this week, reaching a high of 103F (39C) in Sacramento on Tuesday. A heat advisory is in place for the state capital through Wednesday night, …
People Moves: AXA XL Promotes Pearman to New Role of CUO, Bermuda; Lockton Re Taps Former Aon Execs for Marine & Energy Division, Lloyd’s Capital Unit
This edition of International People details appointments at AXA XL and Lockton Re. A summary of these new hires follows here. AXA XL Promotes Pearman to New Role of Chief Underwriting Officer, Bermuda As part of its recently announced insurance …
Social Media Giants Avoid School Districts’ Addiction Claims
Meta Platforms Inc. and other social media companies won the dismissal of novel claims in hundreds of lawsuits brought by school districts seeking to recover costs for addressing the negative impacts of students’ social media use. A California state judge …
All the Major Legal Battles Elon Musk and His Companies Are Facing
Elon Musk and his companies are embroiled in dozens of lawsuits, ranging from fatal crashes blamed on Tesla Inc.’s Autopilot system to civil rights complaints over the treatment of employees. Tesla’s board and Musk were hit Thursday with another suit …
Car Maker Stellantis Extends Preventive Recall to Other Models Over Airbag Worries
Car maker Stellantis has preventively extended a recall of vehicles with potentially faulty airbags to more Citroen and DS models, as well as the Opel brand, spokespeople for the carmaker told Reuters on Friday. Citroen C4, DS4 and DS5 models …
Marsh McLennan’s Carpenter Launches Capital & Advisory Group, Led by Schnieders
Guy Carpenter, the reinsurance business unit of Marsh McLennan, announced the formation of the Capital & Advisory group as part of its Global Capital Solutions unit. The business also announced the appointment of Alexander Schnieders as global head of Capital …
US Military Confirms Houthi Missile Strikes on Two Ships in Gulf of Aden
Yemen’s Houthi damaged two commercial vessels in missile attacks in the Gulf of Aden in the last 24 hours as part of the militia group’s ongoing campaign against international ocean shipping, U.S. Central Command (CENTCOM) said on Sunday. The Iran-backed …
Russian Oil Tanker Does Secret Cargo Switch Near Singapore to Dodge US Sanctions
The first Russian oil tanker attempting to deliver crude while under US sanctions made a secret cargo transfer onto another ship, a sign of the lengths to which Moscow is going to undermine the effectiveness of American restrictions on its …
Global Reinsurance Sector Outlook Revised to Positive on Robust Profits, Tighter T&Cs
The market segment outlook for the global reinsurance segment has been revised to positive from stable after the sector saw robust profit margins in 2023, according to AM Best, which attributed the sector’s improved performance to higher attachment points and …
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