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Archive: December 2024

Global Warming Can’t Be Ignored, Montana’s Top Court Says, Upholding Landmark Climate Case
Insurance Journal | December 20, 2024
Global Warming Can’t Be Ignored, Montana’s Top Court Says, Upholding Landmark Climate Case
Montana’s Supreme Court upheld a landmark climate ruling that said the state was violating residents’ constitutional right to a clean environment by permitting oil, gas and coal projects without regard for global warming. The justices, in a 6-1 ruling, rejected …
Chicago Restaurant Owners to Pay $125K in Overtime Back Wages
Insurance Journal | December 20, 2024
Chicago Restaurant Owners to Pay $125K in Overtime Back Wages
The U.S. Department of Labor obtained a consent judgment and order in the U.S. District Court for the Northern District of Illinois on Dec. 2, 2024, that requires D’Nuez Corp. and owners Antonio Rendon and Albino Rendon – operators of …
Swiss Re’s Business Unit CEOs Share Views on Key Risk Themes of 2025
Insurance Journal | December 20, 2024
Swiss Re’s Business Unit CEOs Share Views on Key Risk Themes of 2025
Social inflation will continue to be a top concern for insurers and reinsurers in 2025 with US liability claims increasing by 57% during the past decade and nuclear verdicts rising in frequency, said Swiss Re, pointing to jury awards above …
Tesla Recalls Nearly 700,000 Vehicles in Over Tire Pressure Monitoring Issue
Insurance Journal | December 20, 2024
Tesla Recalls Nearly 700,000 Vehicles in Over Tire Pressure Monitoring Issue
Tesla said on Friday it was recalling 694,304 vehicles in the United States over an issue with the tire pressure monitoring system (TPMS). The TPMS warning light may not remain illuminated between drive cycles, failing to warn the driver of …
Liberty Mutual Weighs Sale of Thailand, Vietnam Assets
Insurance Journal | December 20, 2024
Liberty Mutual Weighs Sale of Thailand, Vietnam Assets
Liberty Mutual Holding Co. is considering a sale of its businesses in Thailand and Vietnam as the US insurer seeks to streamline its operations, according to people familiar with the matter. Liberty Mutual is working with a financial adviser on …
Safeco to Stop Writing New Condo and Renter Policies in California
Insurance Journal | December 20, 2024
Safeco to Stop Writing New Condo and Renter Policies in California
It appears another insurance carrier is turning sour on wildfire-prone California. Safeco, a Liberty subsidiary, is preparing to stop writing new condo and rental policies in California at the beginning of next year. Liberty stopped writing new condo or rental …
Cleveland Clinic Plans New Hospital, Larger Outpatient Center in South Florida
Insurance Journal | December 20, 2024
Cleveland Clinic Plans New Hospital, Larger Outpatient Center in South Florida
The Cleveland Clinic, a health care system with hospitals and clinics around the world, said it plans to build a 150-bed hospital in the Palm Beach area and will quadruple the size of an outpatient clinic there. Cleveland has operated …
Ships Canceled, Smelter Hit As Mozambique Braces for More Post-Election Disruption
Insurance Journal | December 20, 2024
Ships Canceled, Smelter Hit As Mozambique Braces for More Post-Election Disruption
Post-election protests rocking Mozambique since late October have interrupted trade and hampered a major aluminum smelter, with the southeast African nation braced for more disruption next week. The Constitutional Council is set to validate the disputed vote by Dec. 23 …
Palm Beach Revolt Forces Sylvester Stallone to Abandon Mansion Sea Barrier
Insurance Journal | December 20, 2024
Palm Beach Revolt Forces Sylvester Stallone to Abandon Mansion Sea Barrier
In his movies, Sylvester Stallone has taken on drug cartels, Soviet troops and boxer Apollo Creed. But in real life, he had to beat a retreat against the Palm Beach Town Council. The movie star appeared Thursday before the council …
Self-Proclaimed Bitcoin Inventor Found in Contempt of Court After Lawsuit Loss
Insurance Journal | December 20, 2024
Self-Proclaimed Bitcoin Inventor Found in Contempt of Court After Lawsuit Loss
A computer scientist who falsely claims to be the inventor of Bitcoin was handed a suspended prison termafter being found in contemptof court by a London judge after a stinging lawsuit loss. The Cryptocurrency Open Patent Alliance, a nonprofit cryptocurrency …