Zurich Insurance to Sell Downtown Madrid Offices for About €100 Million
Zurich Insurance Group agreed to sell its iconic office building in downtown Madrid to a Spanish investment fund for about €100 million ($107 million), underscoring the robust demand for real estate in the city. Investment firm Besant Capital has made …
Markets/Coverages: ANV Expands Transactional Risk Offering to the US
Specialty risk insurance managing general agent ANV Global Services, Inc. said it has launched its transactional risk insurance (TRI) program in the United States. The new ANV unit will be led by Colin Addy and Greg Conroy, who previously held …
EV Startup Fisker Files for Bankruptcy, Aims to Sell Assets
Fisker filed for bankruptcy protection late on Monday, as the U.S. electric-vehicle maker looks to salvage its operations by selling assets and restructuring its debt after burning through cash in an attempt to ramp up production of its Ocean SUVs. …
Stellantis Recalls Over 1 Million Vehicles For Rearview Camera Issue
Chrysler parent Stellantis is recalling 1.16 million vehicles in North America over a problem with software that is preventing rear view cameras from displaying, raising the risk of a crash, the automaker said Tuesday. The over-the-air software update recall includes …
Vantage Group Chairman and Former Arch CEO Iordanou Dies
Constantine “Dinos” Iordanou, the chairman of Vantage Group Holdings and former chairman and chief executive officer of Arch Capital Group Ltd. has died. Described as “an industry legend,” as well as “a remarkable businessman, generous philanthropist, and devoted family man” …
Greencore Recalls Sandwiches, Wraps, Salads Amid E. Coli Concern
Convenience foods manufacturer Greencore Group is recalling a variety of products because of concerns over possible contamination with E. coli. The recall involves various sandwiches, wraps and salads sold at major retailers including Aldi, Asda, Boots, Morrisons and Sainsbury’s, according …
Potential Tropical Storm in Southern Gulf of Mexico Gathers Strength
Tropical storm watches have been posted along the Texas and Mexican coasts as a low-pressure system gathers strength in Bay of Campeche at the southern end of the Gulf of Mexico and threatens heavy rain across Central America, the US …
Dredger That Hit Tanker Reported Sudden Loss of Control; Oil Spill Cleanup Ongoing
Singapore authorities said Monday a dredger boat reported a sudden loss in engine and steering control that led it to hit a stationary cargo tanker, causing an oil spill that has blackened part of the city-island’s southern shores. The Netherlands-flagged …
More Than 800 Coal Plants Worldwide Could Be Profitably Decommissioned: Research
More than 800 coal-fired power plants in emerging countries could be decommissioned and profitably replaced by cleaner solar energy starting from the end of the decade, research on Monday showed. Though only a tenth of existing coal plants are scheduled …
Top Shipping Flag Cuts Approval for Sanctioned Russian Insurer
The world’s largest shipping register withdrew its approval for Russia’s Ingosstrakh Insurance Co. to provide a key document enabling ships to enter ports. The Liberian Register — under whose flag 16% of the world’s ships by capacity sail — said …
Supreme Court to Hear Nvidia Bid to Scuttle Shareholder Lawsuit
The U.S. Supreme Court agreed on Monday to hear a bid by Nvidia to scuttle a securities fraud lawsuit accusing the artificial intelligence chipmaker of misleading investors about how much of its sales went to the volatile cryptocurrency industry. The …
Thanks to AI, Industry Will Soon See Big Jump in Parametric Insurance, Consultant Says
Insurance agents must now embrace the use of artificial intelligence, but they won’t be replaced by it. And the use of parametric policies will soon increase sharply across property insurance lines because that coverage lends itself perfectly to data-driven AI …
J&J Talc Users Want Cancer Checks Even If It Cost Billions
Johnson & Johnson should be on the hook for potentially billions of dollars in medical fees for women who used its talc-based baby powders and want to monitor their future health over cancer fears, according to a lawsuit. Lawyers representing …
Jersey Shore Police, Pols Weigh Holding Parents Responsible for Kids’ Rowdy Behavior
Parents should be held civilly or criminally responsible for the actions of their children that create disturbances or damage in public places, a group of New Jersey police chiefs and Republican lawmakers said Wednesday during a forum held after a …
Investigators Say Tanker Spilled Gas in Crash That Destroyed I-95 Bridge in Philly
Gasoline spilled out from an unsecured hatch on the top of the gasoline delivery tanker that overturned and ignited beneath an Interstate 95 bridge in Philadelphia a year ago, according to new details from federal investigators. Video evidence obtained by …
California Workers’ Comp Institute Examines Presumption for Ag Heat Injuries
A bill that would give a presumption of compensability to farmworker heat-related injury claims if an employer is found to be out of compliance with Cal/OSHA’s outdoor heat illness prevention standard would likely create more challenges than it would solve, …
Underwater Fault Could Devastate West Coast With Major Quake and Tsunami
New research is warning about an underwater fault that could devastate the West Coast with a major earthquake and tsunami. Seismologists have issued warnings that the Cascadia Subduction Zone, an offshore fault from British Columbia to Northern California, for decades. …
People Moves: Hotchkiss Insurance Expands Partnership with Bailey, Fondren and Rivera
Hotchkiss Insurance, headquartered in Carrollton, Texas, is named of three new partners: Chris Bailey, Chase Fondren, and Dustin Rivera. Bailey has been an integral part of Hotchkiss for the past nine years, serving as a commercial insurance specialist. Before joining …
States Lose Challenge to Legal Protections for Workers Who Get Abortions
A federal judge in Arkansas has tossed out a legal challenge by 17 Republican-led states to a U.S. agency rule giving workers who had abortions the same legal protections as those who are pregnant or recently gave birth. U.S. District …
People Moves: Krause Group Names Westervelt Vice President of Sales
Krause Group, headquartered in Des Moines, Iowa, named Holly Westervelt to the newly created role of vice president of sales, a part of the leadership team for Krause Group’s expanding agency division, The Krause Agency. Westervelt joins Krause Group with …