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Greek Ship Attacked in Red Sea by Houthis Arrives in Port of Aden With Cargo
Insurance Journal | February 20, 2024
Greek Ship Attacked in Red Sea by Houthis Arrives in Port of Aden With Cargo
The Greek-flagged bulker Sea Champion arrived in the southern Yemeni port of Aden on Tuesday after being attacked in the Red Sea in what appeared to have been a mistaken missile strike by the Houthi militia, sources said. Shipping risks …
President Biden Visits East Palestine, Ohio to Assess Cleanup After Train Derailment
Insurance Journal | February 20, 2024
President Biden Visits East Palestine, Ohio to Assess Cleanup After Train Derailment
EAST PALESTINE, Ohio (AP) — President Joe Biden on Friday surveyed the federal cleanup in East Palestine, Ohio, more than a year after an explosive fire from a derailed train carrying hazardous chemicals, and saw up close the lingering hostility …
Turkey Plans Fine for SSR’s Local Unit Over Mine Spill
Insurance Journal | February 20, 2024
Turkey Plans Fine for SSR’s Local Unit Over Mine Spill
Turkey plans to fine a unit of SSR Mining Inc. after a landslide at its Copler gold mine and have the company cover the cost of removing millions of tons of waste, three government officials said. Anagold Madencilik, 80%-owned by …
Markets/Coverages: Connecticut Opens Door to Real Estate Insurer Honeycomb
Insurance Journal | February 20, 2024
Markets/Coverages: Connecticut Opens Door to Real Estate Insurer Honeycomb
The Connecticut Insurance Department has given Honeycomb Insurance approval to write policies statewide. Honeycomb offers customizable insurance coverage for apartment complexes, condominium associations, and single-family rental dwellings. The insurer promises technology-enabled and streamlined service, underwriting and pricing for commercial insurance …
Germany to Approve Cannabis Bill This Week in Legalization Drive
Insurance Journal | February 20, 2024
Germany to Approve Cannabis Bill This Week in Legalization Drive
German lawmakers will approve delayed legislation decriminalizing personal use of cannabis this week, paving the way for it to take effect on April 1, according to Health Minister Karl Lauterbach. The law, set to pass the lower house of parliament …
‘Citizens 2.0’ is 86’d but Other Florida Insurance, Liability Bills Still Alive
Insurance Journal | February 20, 2024
‘Citizens 2.0’ is 86’d but Other Florida Insurance, Liability Bills Still Alive
A move to revamp the state-backed property insurer of last resort into Florida’s main wind carrier, a plan dubbed “Citizens 2.0,” appears to have died in the Legislature this year. But other insurance-related bills are still alive, and the governor’s …
Markets/Coverages: Vantage Risk Introduces U.S. Primary Casualty Insurance
Insurance Journal | February 20, 2024
Markets/Coverages: Vantage Risk Introduces U.S. Primary Casualty Insurance
Vantage Group Holdings Ltd., the Bermuda-based insurer and reinsurer, is offering U.S. primary casualty in addition to its existing Bermuda and U.S. excess casualty products, continuing the company’s expansion of specialty insurance capabilities. Vantage said its new U.S. Primary Casualty …
Uber Sues Drivers’ Insurer Alleging Its Claims Practices Have Fueled Tort Litigation
Insurance Journal | February 20, 2024
Uber Sues Drivers’ Insurer Alleging Its Claims Practices Have Fueled Tort Litigation
Uber Technologies last Friday sued an auto insurer to have it defend and indemnify it regarding multiple lawsuits that are seeking to hold Uber vicariously liable for accidents involving Uber drivers in New York. The technology company maintains that the …
FTX Investors Sue Sullivan & Cromwell, Say Law Firm Aided Fraud
Insurance Journal | February 20, 2024
FTX Investors Sue Sullivan & Cromwell, Say Law Firm Aided Fraud
FTX investors sued Sullivan & Cromwell, accusing the law firm of aiding illicit schemes that helped advance a multi-billion dollar fraud before the crypto exchange’s collapse. Sullivan & Cromwell’s services “went well beyond those a law firm should and ordinarily …
Flying Got Safer Last Year Almost Everywhere Except Russia
Insurance Journal | February 20, 2024
Flying Got Safer Last Year Almost Everywhere Except Russia
Flying further improved its safety record last year, extending a long-term trend that’s set to continue despite quality lapses at Boeing Co. and maintenance setbacks in Russia, where sanctions have put decades of progress at risk. There were 124 fatalities …