Maine Doctor Convicted on Multiple Counts of IIlegally Distributing Opioids
A Maine doctor who runs an addiction treatment center has been convicted on multiple counts of illegally distributing opioids including oxycodone, hydromorphone and fentanyl. Dr. Merideth Norris, 53, of Kennebunk, Maine, was found guilty in federal court Friday of distributing …
Markets/Coverages: Howden Launches 1st Carbon Credits Warranty & Indemnity Insurance Policy
Howden, the London-based insurance intermediary group, announced the placement of the first carbon credits warranty and indemnity (W&I) insurance policy. The W&I policy provided insurance cover on the sale of carbon credits for the reafforestation project of degraded forest lands …
Europe Braces for Heat Following Greek Fires and Swiss Floods
European capitals are bracing for heat wave conditions, following wildfires in Greece and flooding in Switzerland over the weekend. High pressure over southern Scandinavian will bring the highest temperatures this year to the UK, with London and parts of the …
Probe of Russian Hack on London Hospitals May Take Weeks; Data-Dump Worries Grow
An investigation into a ransomware attack earlier this month on London hospitals by the Russian group Qilin could take weeks to complete, the country’s state-run National Health Service said Friday, as concerns grow over a reported data dump of patient …
Catastrophe Bonds Are Luring Retail Investors to High-Risk Debt
There was a time when investing in catastrophe bonds was the preserve of hedge funds and other sophisticated alternative asset managers. But after underpinning the best hedge fund strategy of 2023, the bonds are finding a wider audience. Catastrophe-bond funds …
Norfolk Southern Says it Will Examine Vent and Burn Decisions
Days before the National Transportation Safety Board is set to explain why first responders were wrong to blow open five tank cars and burn the toxic chemical inside after the East Palestine derailment, Norfolk Southern said Friday it plans to …
US Prosecutors Recommend DOJ Criminally Charge Boeing as Deadline Looms
U.S. prosecutors are recommending to senior Justice Department officials that criminal charges be brought against Boeing after finding the planemaker violated a settlement related to two fatal crashes, two people familiar with the matter told Reuters. The Justice Department must …
DOJ Drops Claims That TikTok Misled US Consumers in Lawsuit
The US Justice Department is dropping one of two proposed claims against ByteDance Ltd.’s TikTok, planning to focus a consumer protection lawsuit later this year on children’s privacy instead of allegations the video-sharing platform misled consumers about their data security. …
Hackers Auction Off Stolen LendingTree Consumers’ Data
Hackers are selling data about consumers of the LendingTree Inc. subsidiary QuoteWizard after the company detected unauthorized access on a cloud database hosted by Snowflake Inc., according to a person familiar with the matter. There have been several listings of …
CDK Begins Restoring Systems After Cyber Hack Hits Thousands of Retailers
Retail technology and software provider CDK Global has begun work to restore systems used by over 15,000 retail locations across North America, the company said in a statement on Sunday, adding that it expects the process to take “several days.” …
Progressive, Bars Settle for $1M in SC DUI Crash That Killed Bride on Wedding Night
FOLLY BEACH, S.C. (AP) — The husband of a bride who was killed in a South Carolina beach road collision on her wedding night last year will receive nearly a million dollars in settlement connected to the crash, which a …
Let Good Adjusters, Not Expensive Lawyers, Make the Difference on Claims, CEO Says
Harish Kapur, CEO of Across America Insurance Services, likes to tell the story of how his company’s chief defense lawyer became fed up with Kapur’s frequent requests for lower settlements on claims disputes. “He fired us. He literally fired us,” …
Coverage Needed: Hundreds of Thousands in SE Now in Flood Zones With New Maps
Many more properties, including hundreds of thousands of homes across Florida and other parts of the Southeast, will be required to purchase flood insurance after July 31, due to revisions in federal flood maps. For some of the most exposed …
New York Enacts Law to Limit ‘Addictive’ Social Media Feeds for Kids
New York Gov. Kathy Hochul on Thursday signed a bill that would allow parents to block their children from getting social media posts suggested by a platform’s algorithm, a move to limit feeds critics argue are addictive. Under the legislation, …
Dali Crew May Leave But Must Be Available for Probe Into Baltimore Bridge Collapse
Crew members on the cargo ship Dali can head home as soon as Thursday under an agreement that allows lawyers to question them as part of investigations into the cause of the deadly collapse of Baltimore’s Francis Scott Key Bridge. …
Home Insurance at $10,000 a Year Shows California Buyers’ Pain
California’s lofty home prices and scarce inventory already amounted to one of the most nightmarish housing markets in the US. Now, challenges securing and affording home insurance in the wildfire-prone state are making it even worse. Under the pressure of …
Climate Change Blamed on Deadly Heat Wave in Mexico, Southwest US
Human-caused climate change dialed up the thermostat and turbocharged the odds of this month’s killer heat that has been baking the Southwestern United States, Mexico and Central America, a new flash study found. Sizzling daytime temperatures that triggered cases of …
Warburg Pincus’ K2 Launches London-Based MGA, K2 Rubicon Specialty
K2 International, the specialty re/insurance underwriting platform that is owned by private equity firm Warburg Pincus, announced the launch of a London-based MGA called K2 Rubicon Specialty. The new MGA division was founded by four market veterans from Ascot Group: …
LAAIA Posts Scholarship Winners Ahead of Upcoming Florida Convention
The Latin American Association of Insurance Agencies and the Spencer Educational Foundation have announced college risk-management and insurance scholarship winners for 2024. Mendoza Lunatti, an incoming senior at Southeastern University in Lakeland, Florida, majoring in math and finance; and Manuel …
Exxon Suit Targeting Activist Group Arjuna Tossed by Judge
A federal judge dismissed a lawsuit by Exxon Mobil Corp. against Arjuna Capital after a lawyer for the activist investor group vowed not to try to resurrect a shareholder policy opposed by the company. The judge in Fort Worth, Texas, …