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Category: Insurance Journal

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 …
Seafarers Can Refuse to Sail Through Red Sea as Houthis Step Up Attacks: Industry
Insurance Journal | February 20, 2024
Seafarers Can Refuse to Sail Through Red Sea as Houthis Step Up Attacks: Industry
Seafarers have the right to refuse to sail on ships passing through the Red Sea in a new industry agreement as the situation escalates and further vessels are attacked by Yemen’s Iran-aligned Houthis, a labor union and industry groups said …
Remote Workers Often First to Get Laid Off Despite Legal Risk
Insurance Journal | February 20, 2024
Remote Workers Often First to Get Laid Off Despite Legal Risk
Remote workers are more likely to be laid off or miss out on promotion opportunities than their peers who work in the office or in hybrid environments, potentially exposing employers to costly discrimination lawsuits. A January survey from Live Data …
Italy’s Fondazione CRT Lifts Stake in Generali to 2%, Its Chairman Says
Insurance Journal | February 20, 2024
Italy’s Fondazione CRT Lifts Stake in Generali to 2%, Its Chairman Says
Italy’s Fondazione CRT has increased its stake in insurer Generali around 2% after selling its entire holding in Italian bank Banco BPM last week, its chairman Fabrizio Palenzona said on Tuesday. “We are and will remain on the 2% threshold,” …
Truist Nears Sale of Insurance Arm to Stone Point, CD&R
Insurance Journal | February 20, 2024
Truist Nears Sale of Insurance Arm to Stone Point, CD&R
Truist Financial Corp. is nearing a deal to sell a majority stake in its insurance brokerage business to Stone Point Capital and Clayton Dubilier & Rice, people familiar with the matter said. The sale of the stake in Truist Insurance …
Amazon Joins Companies Arguing NLRB Is Unconstitutional
Insurance Journal | February 20, 2024
Amazon Joins Companies Arguing NLRB Is Unconstitutional
Amazon.com has joined rocket maker SpaceX and grocery chain Trader Joe’s in claiming that a U.S. labor agency’s in-house enforcement proceedings violate the U.S. Constitution, as the retail giant faces scores of cases claiming it interfered with workers’ rights to …
South Carolina Lawmakers Mulling Liquor Liability Fund to Ease Coverage Crisis
Insurance Journal | February 20, 2024
South Carolina Lawmakers Mulling Liquor Liability Fund to Ease Coverage Crisis
Businesses and homeowners will be familiar with insurers of last resort – the state-created, quasi-governmental organizations that provide property and liability coverage when the primary market won’t. These include windstorm underwriting associations or corporations in a number of states, a …