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Archive: October 2024

US East Coast Dockworkers Strike, Halting Half the Nation’s Ocean Shipping
Insurance Journal | October 1, 2024
US East Coast Dockworkers Strike, Halting Half the Nation’s Ocean Shipping
Dockworkers on the U.S. East Coast and Gulf Coast began a strike early on Tuesday, their first large-scale stoppage in nearly 50 years, halting the flow of about half the nation’s ocean shipping after negotiations for a new labor contract …
Viewpoint: East Coast Port Strike: Insurance and Risk Management Implications
Insurance Journal | October 1, 2024
Viewpoint: East Coast Port Strike: Insurance and Risk Management Implications
As it has many times before, the International Longshore Association (ILA) threatened a strike, beginning October 1, that would shut down major ports along the Atlantic and Gulf coasts of the United States, with significant repercussions for global trade. That …
California Governor Vetoes Bill to Create First-in-Nation AI Safety Measures
Insurance Journal | October 1, 2024
California Governor Vetoes Bill to Create First-in-Nation AI Safety Measures
California Gov. Gavin Newsom vetoed a landmark bill aimed at establishing first-in-the-nation safety measures for large artificial intelligence models. The decision is a major blow to efforts attempting to rein in the homegrown industry that is rapidly evolving with little …
Jury Awards $24M to Pennsylvania Man Injured in Botched Spinal Surgery
Insurance Journal | October 1, 2024
Jury Awards $24M to Pennsylvania Man Injured in Botched Spinal Surgery
A Pennsylvania jury has awarded a $23.87 million verdict to James Spangler, a 58-year-old Harley Davidson mechanic from Manchester who suffered catastrophic injuries following a botched spinal surgery. The verdict represents the largest published medical malpractice award in York County’s …
Explosive-Packed Drone Boat Slams Into Oil Tanker in Red Sea
Insurance Journal | October 1, 2024
Explosive-Packed Drone Boat Slams Into Oil Tanker in Red Sea
An explosive-laden drone boat slammed into an oil tanker as it sailed past the coast of Yemen, a sign Israeli airstrikes haven’t deterred the country’s Houthi militants from attacking commercial shipping. The 900-foot ship was hit by an uncrewed surface …
Cleanup Begins After Chemical Plant Fire Forced Evacuations Near Atlanta
Insurance Journal | October 1, 2024
Cleanup Begins After Chemical Plant Fire Forced Evacuations Near Atlanta
CONYERS, Ga. (AP) — Some residents east of Atlanta were evacuated while others were told to shelter in place Sunday to avoid contaminants from a chemical plant fire that sent a massive plume of dark smoke high into the sky …
Delaware’s Workers’ Compensation Claims Cost Grew 3% a Year: WCRI
Insurance Journal | October 1, 2024
Delaware’s Workers’ Compensation Claims Cost Grew 3% a Year: WCRI
The average cost of workers’ compensation claims in Delaware, for cases with more than seven days of lost work, went up by 3% per year between 2019 and 2022, according to a new study from the Workers Compensation Research Institute …
Judge Dismisses Shareholder Lawsuit Against Tesla, Musk Over Self-Driving Promises
Insurance Journal | October 1, 2024
Judge Dismisses Shareholder Lawsuit Against Tesla, Musk Over Self-Driving Promises
Tesla and its CEO Elon Musk on Monday won the dismissal of a lawsuit accusing them of defrauding shareholders by overstating the effectiveness and safety of the automaker’s self-driving technology in order to boost its stock price. U.S. District Judge …
Miller Completes Acquisition of Spanish Specialty Re/Insurance Broker Bruzon
Insurance Journal | October 1, 2024
Miller Completes Acquisition of Spanish Specialty Re/Insurance Broker Bruzon
Miller, the London-based specialist re/insurance broker, announce it has completed the acquisition of Madrid-based commercial insurance broker Bruzon Correduría de Seguros y Reaseguros. The transaction, which first was announced in May, closed on Sept. 30 following the receipt of all …
People Moves: Liberty Specialty Markets Promotes Nelson to CUO, UK & MENA, Succeeding O’Neill; Pen’s Trafalgar Marine Trades Taps Geo’s Colbourn as Senior UK U/W
Insurance Journal | October 1, 2024
People Moves: Liberty Specialty Markets Promotes Nelson to CUO, UK & MENA, Succeeding O’Neill; Pen’s Trafalgar Marine Trades Taps Geo’s Colbourn as Senior UK U/W
This edition of International People Moves details appointments at Liberty Specialty Markets, the MGA Pen Underwriting, and Lloyd’s syndicate, AEGIS London. A summary of these new hires follows here. Liberty Specialty Markets Promotes Nelson to CUO, UK & MENA Regions, …