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Reinsurer SCOR’s Recovery Clouded by First Quarterly Loss Since 2022
Insurance Journal | July 30, 2024
Reinsurer SCOR’s Recovery Clouded by First Quarterly Loss Since 2022
SCOR SE reported its first quarterly loss since 2022, delivering a setback to Chief Executive Officer Thierry Leger. The Paris-based reinsurer posted a loss of €308 million ($333 million) in the three months through June, missing analyst estimates. The result …
Ohio Supreme Ct.: Chicken Wings Advertised as ‘Boneless’ Can Have Bones
Insurance Journal | July 30, 2024
Ohio Supreme Ct.: Chicken Wings Advertised as ‘Boneless’ Can Have Bones
Consumers cannot expect boneless chicken wings to actually be free of bones, a divided Ohio Supreme Court ruled last week, rejecting claims by a restaurant patron who suffered serious medical complications from getting a bone stuck in his throat. Michael …
Texas Crude Oil Pipelines Are Full to the Brim and Getting Worse
Insurance Journal | July 30, 2024
Texas Crude Oil Pipelines Are Full to the Brim and Getting Worse
Crude oil pipelines connecting the busiest Texas oil fields to a critical export hub across the state are nearly out of space, threatening to cap US oil exports at a time when the world needs more. Key pipelines that transport …
Companies ‘Paralyzed’ as Australia Plans Tough Climate Rules
Insurance Journal | July 30, 2024
Companies ‘Paralyzed’ as Australia Plans Tough Climate Rules
Australia’s plans to introduce stringent rules on climate disclosures are driving up concerns among businesses about compliance in one of the world’s biggest per-capita emitters. More than 6,000 companies including listed and unlisted firms, financial institutions and asset owners will …
Insurance Comparison Site The Zebra Buys Marble
Insurance Journal | July 30, 2024
Insurance Comparison Site The Zebra Buys Marble
Personal lines insurance comparison site The Zebra said it has acquired Marble, a digital platform for managing and saving on insurance. The acquisition is effective as of July 25, 2024. Terms of the deal, the first in The Zebra’s 12-year …
Public D&O Price Decreased 5.2% in Second Quarter, Says Aon
Insurance Journal | July 30, 2024
Public D&O Price Decreased 5.2% in Second Quarter, Says Aon
The average price for directors & officers liability insurance decreased 5.2% per $1 million in limits in the second quarter, according to Aon Commercial Risk Solutions. Aon said the decrease compared to the same quarter in 2023 was the ninth …
Nationwide Plans 5% Reduction in Employee Headcount
Insurance Journal | July 30, 2024
Nationwide Plans 5% Reduction in Employee Headcount
Insurer Nationwide said late last week that it is reducing its headcount by about 5% over the next year. “We can’t speculate on the total number of job impacts,” said Nationwide in a statement. “Eligible associates are able to apply …
People Moves: Gov. Moore Appoints Grant as Next Maryland Insurance Commissioner
Insurance Journal | July 29, 2024
People Moves: Gov. Moore Appoints Grant as Next Maryland Insurance Commissioner
Maryland Governor Wes Moore has named Marie Grant, an attorney with nearly 20 years of experience in insurance and health care policy and regulation, as his state’s next insurance commissioner. Grant currently serves as assistant secretary for health policy at …
Senators Call on FTC to Investigate Automakers’ Sale of Driving Data
Insurance Journal | July 29, 2024
Senators Call on FTC to Investigate Automakers’ Sale of Driving Data
Two U.S. senators are calling on the Federal Trade Commission to investigate automakers selling customers’ driving data to brokers who package it and then sell it to insurance companies. In a letter to FTC Chairwoman Linda Khan, Democrats Ron Wyden …
Tyco, TIG Insurance Agree to Settle ‘Forever Chemicals’ Fire Foam Litigation
Insurance Journal | July 29, 2024
Tyco, TIG Insurance Agree to Settle ‘Forever Chemicals’ Fire Foam Litigation
Three months after Tyco Fire Products agreed to pay $750 million to communities with groundwater affected by so-called “forever chemicals” found in fire-stopping foam, Tyco has reached a tentative settlement with one of its insurance companies. “…We write jointly on …