Devonshire Underwriting Launches MGA Specializing in Transactional Risk Solutions
Devonshire UW Ltd. and its affiliate Devonshire UW Europe GmbH (known collectively as “Devonshire Underwriting”) announced the launch of a managing general agent specializing in transactional risk solutions. Focused on positively disrupting the transaction risk insurance market, the MGA will …
Florida Supreme Court Lets Recreational Marijuana Stay on November Ballot
U.S.-listed shares of pot producers rose premarket on Tuesday after the Florida Supreme Court on Monday allowed voters to decide on the fate of recreational use of marijuana in the state through a referendum on the November ballot. If voters …
Trump $175 Million Bond Arranged by Billionaire Supporter’s Firm
A billionaire Donald Trump supporter whose California company is known for subprime auto loans offered to arrange the former president’s $175 million appeal bond in New York state’s civil fraud suit, though he said politics had nothing to do with …
Millions of Recalled Hyundai and Kia Vehicles, With Dangerous Defect, Remain on Road
In September, Hyundai and Kia issued a recall of 3.4 million of its vehicles in the United States with an ominous warning: The vehicles should be parked outdoors and away from buildings because they risked catching fire, whether the engines …
Japanese Authorities Inspect Second Kobayashi Pharma Factory After Deaths
Health authorities searched a second Kobayashi Pharmaceutical factory in western Japan on Sunday after the company reported five deaths possibly tied to dietary supplements, an official said. The inspection in Wakayama prefecture follows one on Saturday in Osaka, expanding the …
Trump Pays $175 Million Bond to Avert Asset Seizure
Donald Trump followed through on his vow to pay a $175 million bond to put a massive civil fraud verdict on hold while he appeals it, assuring New York state won’t start seizing the former president’s assets, at least for …
Families of 5 Men Killed by Minnesota Police Reach $165K Settlement
ST. PAUL, Minn. (AP) — Families of five men killed by police have reached a settlement with the Minnesota Bureau of Criminal Apprehension in their lawsuit seeking the investigative files on the fatal shootings. The $165,000 settlement was reached last …
Survivors of Sex Abuse Ask Louisiana High Court to Open Window to Sue
NEW ORLEANS (AP) — Advocates for adult victims of childhood sexual abuse say they will ask Louisiana’s Supreme Court to reconsider a ruling that wiped out 2021 legislation giving them a renewed opportunity to file civil damage lawsuits over their …
No Injuries or Hazardous Materials Spilled From Oklahoma Train Derailment
DAVENPORT, Okla. (AP) — Authorities and work crews on Sunday continued to clean up after a train derailment in central Oklahoma overturned 22 rail cars carrying gravel but didn’t result in any injuries. The derailment occurred Saturday afternoon just east …
How Do Insurers Define Systemic Cyber Risk?
Systemic cyber risk is being discussed as a growing concern for insurers as technology advances and interconnectivity increases, but how is this risk defined? That may be one of its gray areas. “As you go through different owners of risk …
US Executive Gets UK Judgments Thrown Out After Revealing Hackers Swayed His Case
An American aviation executive has had British judgments worth more than $4 million against him thrown out after a judge ruled that his legal opponent had covered up its use of hackers to steal the businessman’s emails in order to …
Ship Owner in Bridge Collapse Seeks to Limit Its Liability
The owner of the ship that rammed into a bridge in Baltimore last week, killing six workers and throwing the eastern US transportation network into chaos, is seeking to limit its liability to about $43.7 million. The company, Grace Ocean, …