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World’s Rivers Faced Driest Year in 30 Years in 2023: UN Weather Agency
Insurance Journal | October 10, 2024
World’s Rivers Faced Driest Year in 30 Years in 2023: UN Weather Agency
The U.N. weather agency is reporting that 2023 was the driest year in more than three decades for the world’s rivers, as the record-hot year underpinned a drying up of water flows and contributed to prolonged droughts in some places. …
Munich Re Specialty to Enter Spanish Insurance Market
Insurance Journal | October 10, 2024
Munich Re Specialty to Enter Spanish Insurance Market
Munich Re Specialty announced it is entering the Spanish commercial market for primary specialty insurance, with an aim to begin underwriting in 2025. It has set up a Spanish branch of Munich Re Risk Solutions Ireland Ltd., which holds regulatory …
Lloyd’s of London Must Stop Supporting Fossil Fuel Expansion, NGO Says
Insurance Journal | October 10, 2024
Lloyd’s of London Must Stop Supporting Fossil Fuel Expansion, NGO Says
The Lloyd’s of London market is undermining climate action and should impose binding rules to prevent insurers supporting fossil fuel expansion, NGO Reclaim Finance said on Wednesday. Some European insurers, including Generali and Zurich, have imposed restrictions on underwriting for …
GSK Agrees to Settle About 80,000 Zantac Lawsuits for Up to $2.2B
Insurance Journal | October 10, 2024
GSK Agrees to Settle About 80,000 Zantac Lawsuits for Up to $2.2B
GSK has agreed to pay up to $2.2 billion to settle most pending U.S. state court lawsuits claiming that a discontinued version of the heartburn drug Zantac caused cancer, the company announced on Wednesday. The settlement with ten plaintiffs’ law …
Florida CFO Bars Insurers From Altering Adjusters’ Reports Without Explanation
Insurance Journal | October 10, 2024
Florida CFO Bars Insurers From Altering Adjusters’ Reports Without Explanation
Almost two years after a group of independent claims adjusters alleged that insurers had deceptively altered their damage estimates and low-balled policyholders, Florida’s chief financial officer has issued an emergency rule barring similar actions in Hurricane Milton claims. “Any move …
With Back-to-Back Storms, Florida Now Facing Delays in Claims Adjusting
Insurance Journal | October 10, 2024
With Back-to-Back Storms, Florida Now Facing Delays in Claims Adjusting
With Hurricane Milton now expected to produce several hundred thousand wind-damage claims and with the storm coming so soon on the heels of Hurricane Helene, industry leaders are bracing for significant delays in claims adjusting. “We’re competing with Helene,” said …
Firefighters Still on Site More Than Week After Incinerator Trash Fire
Insurance Journal | October 10, 2024
Firefighters Still on Site More Than Week After Incinerator Trash Fire
It’s going to take about two weeks to remove smoldering debris from a Maine town’s trash incinerator after a fire burned in the waste for a week, officials said Tuesday. Firefighters have been stationed continuously at the trash incinerator, which …
Louisiana Seafood Restaurant Sued for Sexual Harassment
Insurance Journal | October 1, 2024
Louisiana Seafood Restaurant Sued for Sexual Harassment
Minden Seafood, LLC, a seafood restaurant in Minden, Louisiana, violated federal law when it failed to stop a male worker from repeatedly sexually harassing a female employee and refused to rehire her after she quit, the U.S. Equal Employment Opportunity …
Louisiana’s Southern University to Launch Alliant Insurance Degree Program with $1.4M Investment
Insurance Journal | October 1, 2024
Louisiana’s Southern University to Launch Alliant Insurance Degree Program with $1.4M Investment
Alliant Insurance announced that a first-of-its-kind degree program at Southern University and A&M College has received final approval from the Louisiana State Board of Regents. The Alliant Insurance Foundation Degree Plan Program at Southern University and A&M College will focus …
Federal Agency Resumes Sending Hazardous Waste to Michigan From Ohio
Insurance Journal | October 1, 2024
Federal Agency Resumes Sending Hazardous Waste to Michigan From Ohio
VAN BUREN TOWNSHIP, Mich. (AP) — A federal agency said it has resumed sending hazardous waste to a Michigan landfill from Ohio while communities in suburban Detroit continue their legal fight to bar waste from a World War II-era site …