Brazil Sues Syngenta for Alleged Environmental Damage
Brazil’s environmental agency IBAMA has sued Syngenta alleging the chemicals company caused “environmental damage” by producing and selling pesticides using much higher concentrations of a carcinogen than allowed under law, according to court documents seen by Reuters. In the suit …
Reinsurers’ Appetite Grows During Mid-Year Renewals but Discipline Remains: Brokers
Reinsurance buyers generally saw positive outcomes during the mid-year renewals, finding adequate capacity to meet cedents’ increasing demand for protection — in both property and casualty, according to three renewal reports from reinsurance brokers. “Loss-free property programs generally saw easing …
Insurance Industry Impact From Hurricane Beryl Expected to Be ‘Manageable’
Hurricane Beryl made its U.S. landfall at Matagorda, Texas early Monday as a Category 1 hurricane. The storm has reportedly knocked out power to 1 million homes and businesses, but the storm’s overall impact to the insurance industry is expected …
Growing Fire in Southern California Prompts Evacuations
A wildfire that erupted in Southern California has burned more than 20,000 acres, prompting an evacuation order and threatening ranches, including Michael Jackson’s former Neverland Ranch. The Lake Fire erupted on Friday northeast of Los Olivos, growing to become the …
Investing in Climate Resilience Really Pays Off, Allstate, Chamber Study Shows
Weather-related catastrophes are increasing in frequency and intensity, and billion-dollar disasters are becoming the norm. The U.S. averages about 10 disasters costing more than $1 billion each year. Investing in resilience and preparedness won’t prevent these losses, but they can …
The Battle Over J&J’s Bankruptcy Plan to End Talc Lawsuits
Eron Evans died in 2016 at 41 of ovarian cancer, leaving behind two daughters. Her grieving mother, Darlene, blames Johnson & Johnson’s Baby Powder – and she’s pursuing a lawsuit her daughter started a decade ago, alleging the company’s talc …
Pongamia Tree Moves in on Florida Citrus, Promises Climate Resilience, Protein
An ancient tree from India is now thriving in groves where citrus trees once flourished in Florida, and could help provide the nation with renewable energy. As large parts of the Sunshine State’s once-famous citrus industry have all but dried …
Fireworks Started New Jersey Forest Fire That Burned 4,000 Acres: Officials
Fireworks have been identified as the cause of the wildfire burning in New Jersey’s Wharton State Forest. The fire, which has burned more than 4,000 acres, was 75% contained by Sunday, officials said. The New Jersey Forest Fire Service reported …
Hospital to Pay $300K to Resolve Drug Recordkeeping Allegations
A New Hampshire hospital has agreed to pay $300,000 to resolve allegations that it violated federal law by failing to keep accurate records of controlled substances, including opioids, the U.S. attorney’s office said. The Drug Enforcement Administration began an investigation …
Banks Face Record Number of UK Lawsuits as Economy Stumbles
Banks in the UK are embroiled in the highest number of lawsuits in a decade in a trend that shows no sign of slowing down. Almost three new cases involving financial services firms were filed every day on average at …
Catastrophe Bonds Dodge Losses After Beryl Hits Jamaica
Investors in bonds intended to help Jamaica cover the costs of a natural catastrophe won’t be affected by the havoc wrought by Hurricane Beryl, even as the prime minister declares the entire Caribbean island a disaster area. As the earliest …
Corporate France Braces for New Era of Political Turmoil
France’s business elite is anxious about volatile politics, inexperienced policymakers, street protests and a possible wave of bankruptcies in the coming months, executives meeting in Provence said ahead of Sunday’s parliamentary election. Corporate leaders gathered on Friday and Saturday in …
Investors Put UK Election Winner Labour on Credibility Watch
Big investors are warming to Britain after a landslide election win for its new Labour government but remain wary of placing long term bets until Prime Minister Keir Starmer can convince them his economic growth plans are credible. Sterling GBP=D3, …
Former Kansas Newspaper Reporter Settles Lawsuit Over Police Raid for $235K
TOPEKA, Kan. (AP) — A former reporter for a weekly Kansas newspaper has agreed to accept $235,000 to settle part of her federal lawsuit over a police raid on the paper that made a small community the focus of a …
To Insure or Self-Insure? The Question Homeowners Must Answer
No matter where you live, there’s a good chance the weather’s getting wilder. In just the past few weeks, tornadoes have wreaked havoc on Midwest and Southern states, and large swaths of southern Florida were flooded. Globally, 2023 was the …
Crypto Hacking Thefts Double to $1.4B in First Half 2024
The amount of cryptocurrency stolen in hacks globally more than doubled in the first six months of 2024 from a year earlier, driven by a small number of large attacks and rising crypto prices, blockchain researchers TRM Labs said. Hackers …
CFO Names Gallagher to Board of Florida Insurance Guaranty Association
Tom Gallagher, an éminence grise or elder statesman of the Florida property insurance world and current chief operating officer for People’s Trust Insurance Co., now has another job to put on his resumé: board member for the Florida Insurance Guaranty …
Florida Governor Names Insurance Defense Lawyer to Appeals Court
The Florida property-casualty insurance industry, having seen wins and losses at the appellate court level in recent years, will soon have a familiar face on the bench that hears appeals for part of litigation-heavy south Florida. Gov. Ron DeSantis last …
California Lawmakers to Ask Voters for Permission Borrow $20B for Climate, Schools
Mired in a stream of multi-billion dollar budget deficits, the California Legislature has turned to voters for help. Lawmakers voted to place a pair of $10 billion bonds on the November ballot. If approved, the money would pay for the …
Lightning Strike Started New Mexico Wildfire That Damaged 1,400 Structures
A lightning strike caused the larger of two wildfires that has killed at least two people and destroyed or damaged more than 1,400 structures in New Mexico, authorities said. The South Fork Fire was first reported June 17 on the …
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