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Archive: June 2024

Industry Groups Back Drugmakers’ Appeal in Zantac Cancer Lawsuits
Insurance Journal | June 20, 2024
Industry Groups Back Drugmakers’ Appeal in Zantac Cancer Lawsuits
A bid by GSK and other drugmakers to stop more than 70,000 lawsuits in Delaware over discontinued heartburn drug Zantac has received the backing of leading U.S. industry groups, including the United States Chamber of Commerce and Pharmaceutical Research and …
Missing Student in Nashville Died of Intoxication and Drowning, Autopsy Shows
Insurance Journal | June 20, 2024
Missing Student in Nashville Died of Intoxication and Drowning, Autopsy Shows
NASHVILLE, Tenn. (AP) — Riley Strain, a University of Missouri student whose body was recovered from a river after going missing in Tennessee’s capital for nearly two weeks, died from accidental drowning and intoxication, according to a newly released autopsy …
Alabama Insurance Producer Pleads to Threatening Prosecutor in Trump Case
Insurance Journal | June 20, 2024
Alabama Insurance Producer Pleads to Threatening Prosecutor in Trump Case
ATLANTA (AP) — An Alabama insurance producer pleaded guilty Tuesday to leaving threatening phone messages for Fulton County District Attorney Fani Willis and the county sheriff last summer because he was angry over the election-interference investigation into former President Donald …
Massachusetts Restores 911 Emergency System After Outage of Several Hours
Insurance Journal | June 20, 2024
Massachusetts Restores 911 Emergency System After Outage of Several Hours
The 911 system across Massachusetts was restored Tuesday after going down for several hours, which made it impossible for anyone to reach emergency services through the call number. The Massachusetts State Police announced around 3:45 p.m. that the system had …
Allstate Reports May Pretax Catastrophe Losses of $1.4B
Insurance Journal | June 20, 2024
Allstate Reports May Pretax Catastrophe Losses of $1.4B
Allstate Corp. on Thursday reported May pretax catastrophe losses of about $1.4 billion. The Northbrook, Illinois-based insurer said 14 events contributed to nearly $1.5 billion in catastrophe losses for May, with 70% attributable to five wind and hail events mostly …
Southern Germany Floods to Cost Insurers $2.6 Billion-$3.9 Billion: Verisk
Insurance Journal | June 20, 2024
Southern Germany Floods to Cost Insurers $2.6 Billion-$3.9 Billion: Verisk
Estimated insured losses from flooding, which hit Southern Germany on May 15-June 5, will range from €2.4 billion (US$2.6 billion) to €3.6 billion (US$3.9 billion), according to Verisk, the data analytics and technology firm. Moody’s RMS recently estimated insured losses …
Drone-Sinking of Coal Ship Boosts Red Sea Perils, Drives Surge in Insurance Costs
Insurance Journal | June 20, 2024
Drone-Sinking of Coal Ship Boosts Red Sea Perils, Drives Surge in Insurance Costs
The sinking of a coal-carrier by a sea drone has boosted the risk of navigating the vital Bab el-Mandeb chokepoint to a new level and is driving a fresh surge in insurance costs. The British navy said Tuesday that the …
Number of Companies Setting Climate Transition Plans Jumps 44% in 2023: Research
Insurance Journal | June 20, 2024
Number of Companies Setting Climate Transition Plans Jumps 44% in 2023: Research
The number of companies saying they have a climate transition plan in line with the world’s most ambitious goal has jumped by nearly half, but many do not give investors enough information to check the claims, according to non-profit data …
Tropical Storm Alberto Strengthens as System Approaches Mexico
Insurance Journal | June 20, 2024
Tropical Storm Alberto Strengthens as System Approaches Mexico
Tropical Storm Alberto is strengthening as the system neared the Gulf coast of Mexico, and is expected to dump heavy rain across the northeast of the country and into southern Texas. The center of Alberto is expected to reach the …
Singapore Highlights Banks as Posing Highest Money Laundering Risk
Insurance Journal | June 20, 2024
Singapore Highlights Banks as Posing Highest Money Laundering Risk
Singapore’s banking sector, including wealth management, poses the highest money laundering risk in the city-state, the government said in a money laundering risk assessment report published on Thursday. Banks had higher exposure to money laundering threats and could be more …