$1 Billion San Francisco Tower’s Revival Clouded by Lawsuit
One of San Francisco’s most iconic buildings is celebrating its reopening after a four-year, $250 million makeover meant to symbolize the city’s renewal. It’s doing so under the shadow of a lawsuit from one of its key tenants. The Transamerica …
Oregon Workers’ Comp Pure Premium Rate to Drop 3.2%
Oregon employers will pay on average less for workers’ compensation coverage in 2025. The Oregon Department of Consumer and Business Services the decline in workers’ comp rate, which marks 12 years of average decreases in the pure premium rate. Employers …
TD to Pay $28 Million for Sharing Inaccurate US Consumer Data
Toronto-Dominion Bank will pay almost $28 million in fines and restitution after the Consumer Financial Protection Bureau said the lender shared inaccurate information about tens of thousands of US customers with consumer reporting companies. A CFPB investigation found the information …
Maryland Supreme Court Hears Child Sex Abuse Lawsuit Arguments
The Supreme Court of Maryland heard arguments on Tuesday about the constitutionality of a 2023 law that ended the state’s statute of limitations for child sexual abuse lawsuits following a report that exposed widespread wrongdoing within the Archdiocese of Baltimore. …
Justin Timberlake Reaches Plea Deal to Resolve Drunken Driving Case
Justin Timberlake is scheduled to enter a new plea Friday in his drunken driving case in New York’s Hamptons, prosecutors said. Details of the plea weren’t disclosed, but a person with knowledge of the deal said Timberlake has agreed to …
Supreme Court’s Zeal to Curb Agency Power Looms in New Term
Fresh off a blockbuster US Supreme Court decision that rolled back the power of federal agencies to regulate business, big-government foes are pressing an even bolder agenda. As the court prepares to start its new term next month, conservatives are …
Francine Estimated to Cause $9B in Damage With $1.5B in Insured Losses
A preliminary estimate shows total damage and economic loss from Hurricane Francine in the U.S. is expected to be $9 billion. The storm effects are continuing to be felt, and some areas have yet to report complete information about damage, …
People Moves: Lockton Names Young SVP
Lockton, based in Kansas City, Missouri, hired benefits consultant Chad Young as senior vice president based in its Houston office. Young previously served as an account executive at Aetna and held senior account executive roles at Assurant and The Hartford. …
People Moves: JM Wilson Hires Musolf and Hudson as Assistant Property & Casualty Underwriters; Group Captive Program Leader Albian Joins Ryan Alternative Risk
JM Wilson, headquartered in Portage, Michigan, hired Savana Musolf and Lisa Hudson as assistant property and casualty underwriters. Musolf works with independent insurance agents and company underwriters in Michigan and Texas. Before joining JM Wilson, Musolf worked for over two …
Sentry Buys Nonstandard Auto Insurer The General From American Family for $1.7B
Sentry Insurance said it is buying nonstandard auto insurer The General from American Family Insurance for about $1.7 billion to mark the largest acquisition in the company’s 120-year history. Sentry will pay $1.1 billion in cash and assume liabilities and …
Florida Home Inspector Used Stock Photos 200 Times, Defrauding Citizens, DFS Says
A Florida home inspector allegedly used the same stock photographs in more than 200 home and wind-mitigation inspections, costing Citizens Property Insurance Corp. more than $88,000, the state Department of Financial Services said after the man was arrested. Jasiel Mena, …
Francine Knocks Out Power to Hundreds of Thousands in South
Francine knocked out power to nearly half a million homes and businesses and canceled hundreds of flights across the US South after coming ashore as a hurricane. The storm has weakened to a tropical depression with winds of 35 miles …
Top EU Privacy Regulator Opens Probe Into Google’s AI Compliance
The top EU privacy regulator opened an inquiry on Thursday into whether search engine giant Google adequately protected European Union users’ personal data before using it to help develop its foundational AI Model. Ireland’s Data Protection Commission (DPC), the lead …
New Mexico Attorney General Files Suit Against Snapchat
New Mexico’s attorney general has filed a lawsuit against the company behind Snapchat, alleging that site’s design and policies foster the sharing of child sexual abuse material and facilitate child sexual exploitation. Attorney General Raúl Torrez filed the lawsuit against …
Lloyd’s of London Plans to Overhaul ‘Unclear’ Rules on Dealing With Poor Conduct
Lloyd’s of London said on Thursday it plans to overhaul its rules on dealing with poor conduct in the commercial insurance market as its current processes for dealing with bad behavior could be “unclear.” The Lloyd’s of London market, which …
Firefighters Hope Cooler Weather Will Aid Battle Against 3 Major Southern California Fires
Firefighters battling three major wildfires in the mountains east of Los Angeles took advantage of cooler weather Wednesday as they slowly gained the upper hand, but not before dozens of homes were destroyed and thousands of people were forced to …
Property Drives E&S Growth of 15% in 2023 to Increase Overall P/C Share
For the sixth straight year, U.S. excess and surplus insurers in 2023 saw double-digit growth in direct written premiums. E&S direct written premiums (DWP) grew 15% last year to increase its share of the total property/casualty market to 9%, according …
Hospital to Pay $65M to End Suit Over Cyberattack That Exposed Patients’ Nude Photos
Lehigh Valley Health Network has agreed to a $65 million settlement of a class action with patients and employees affected by a 2023 ransomware attack that exposed personal and medical information including nude photos of patients. Every settlement class member …
Pinnacol’s EverPeak Workers’ Comp Coverage Expands Into South Carolina
EverPeak Insurance, a workers’ compensation insurer that specializes in hard-to-place industries and small businesses, has recently expanded into South Carolina. Vice President and Chief Operating Officer Vlad Stojanovic said the move will help address the difficulties that some employers face …
Canada’s Wildfire Season Ranks Among Worst but Less Severe Than Feared
With summer drawing to a close in Canada, the 2024 wildfire season is shaping up as one of the most destructive on record, largely due to the devastation caused by a blaze that ripped through a tourist town in the …
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