News
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May 20, 2025
Stablecoin Bill Advances in US Senate in Big Win for Crypto
Stablecoin legislation overcame a procedural blockade in the US Senate, marking a major victory for the crypto industry after a group of Democrats dropped their opposition Monday. The industry-backed regulatory bill is now set for debate on the Senat...
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May 20, 2025
Massachusetts Denies 7.1% Workers’ Comp Rate Hike After 2024 ‘Excessive’ Cut
Massachusetts Insurance Commissioner Michael Caljouw has rejected an industry proposal to raise workers’ compensation rates by 7.1%. As a result, existing rates, which reflect a 14.6% decrease ordered last July, will remain in effect for polici...
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May 20, 2025
Bayer Seeks Roundup Settlement, Explores Monsanto Bankruptcy: Reports
Bayer is preparing a plan to settle some of its mass lawsuits over Roundup weedkiller in Missouri, and may also seek bankruptcy for its Monsanto unit if the effort fails, the Wall Street Journal reported, citing sources. The German pharmaceutical ...
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May 20, 2025
New England’s Shield Health Settles Data Breach Cases for $15.3 Million
Shields Health Care Group has agreed to pay $15.3 million to settle federal and state class actions filed against it by patients over a 2022 data breach. Shields operates medical imaging and surgical centers in 50 locations across the New …...
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May 20, 2025
Japan’s Big Non-Life Insurers Plan to Sell Cross Shareholdings
Japan’s three major casualty insurers plan to sell a total of about ¥1.37 trillion ($9.5 billion) of cross-held shares in the fiscal year started April in a push to reduce strategic holdings in line with government policy. Tokio Marine Holdings...
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May 20, 2025
People Moves: Boroughs Named Chubb Group Vice Chairman, Hogan Succeeds Boroughs as Investment Officer; Cushing Named Head of Construction at Zurich NA
Boroughs Named Vice Chairman, Chubb Group; Hogan Succeeds Boroughs as Chubb Group Chief Investment Officer Chubb Limited, with U.S. headquarters in Warren, New Jersey, named Tim Boroughs vice chairman, Chubb Group and executive chairman, asset manage...
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May 20, 2025
More Tornadoes Plow Through Central US, Leaving Thousands Without Power
More tornadoes plowed through the central U.S. on Monday and thousands were without power as people from Texas to Kentucky continued to clean up from days of severe weather that killed more than two dozen people and destroyed thousands of …...
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May 20, 2025
Driverless Trucking Firm Aurora Puts Human Back in Driver’s Seat
Driverless vehicle developer Aurora Innovation Inc. is putting a human back in front of the wheel of big rigs operating in Texas, reversing course less than three weeks after the company began commercial autonomous service there. The decision to move...
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May 20, 2025
APCIA: Record Shows ‘Minimal Complaints’ on Hurricane Milton, Helene Claims
The American Property Casualty Insurance Association (APCIA) chimed in to a recent Senate subcommittee hearing to defend the industry’s response to claims following hurricanes Milton and Helene. “The vast majority of claims from Hurricane...
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May 20, 2025
Italy’s Data Watchdog Fines AI Company Replika’s Developer $5.6 Million
Italy’s data protection agency has fined the developer of artificial intelligence (AI) chatbot company Replika 5 million euros ($5.64 million) for breaching rules designed to protect users’ personal data, the authority said on Monday. Lau...
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May 20, 2025
EY Negligently Missed Huge Fraud at Collapsed Hospital Operator, $3B UK Trial Hears
EY failed to spot a major fraud by main shareholders of UAE hospital operator NMC Health in what lawyers for the firm’s administrators described as disgraceful auditing, at the start of a roughly $3 billion London trial on Monday. The …...
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May 20, 2025
EU Will Propose to G7 Nations a Reduction in Sanctions Price Cap for Russian Oil
The EU will propose to G7 finance ministers this week to lower the current $60 per barrel price cap on Russian seaborne oil as part of the new sanctions package against Moscow, European Economic Commissioner Valdis Dombrovskis said on Monday. …...
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May 20, 2025
Motion Specialty Launches Lloyd’s MGU, Founded by Former Hiscox Executives
Motion Specialty has been approved as a Lloyd’s of London coverholder, founded by former Hiscox executives Dan Alpay and Alex Kickham. The business writes on behalf of Lloyd’s Syndicate 1301, managed by Inigo Ltd., and is supported by Joh...
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May 20, 2025
FCC Approves Verizon Deal to Acquire Frontier After DEI Changes
The Federal Communications Commission said it was approving Verizon Communication’s $20 billion deal to acquire fiber-optic internet providers Frontier Communications after the largest U.S. telecom company agreed to end its diversity, equity an...
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May 20, 2025
People Moves: O’Day Named Acting Director of Oregon DCBS, Keen as Acting Insurance Commissioner
Oregon Gov. Tina Kotek named Sean O’Day as acting director of the Oregon Department of Consumer and Business Services (DCBS). O’Day is currently the deputy director for DCBS. In his new role, he replaces Andrew R. Stolfi, who the Oregon &...
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May 20, 2025
Maryland Officials Say Autopsies Misclassified Deaths in Police Custody
An audit of Maryland autopsies has uncovered at least 36 deaths in police custody that should have been considered homicides, state officials announced Thursday following a comprehensive review of such cases spurred by widespread concerns about the f...
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May 20, 2025
US Aviation Authorities Probe LaGuardia Runway Close Call
Federal safety officials are probing an incident at New York’s LaGuardia airport earlier this month, during which a Republic Airways jet had to abort takeoff to avoid a collision with a United Airlines Holdings Inc. plane taxiing on the same &#...
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May 20, 2025
Idaho Police Release Names of 6 Killed in Yellowstone Tour Crash Amid Investigation
Idaho police released the names of six people from China, Italy and California killed when a pickup truck collided with their tour van in a fiery crash near Yellowstone National Park earlier this month. Idaho State Police said Jianping Li, …...
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May 20, 2025
Train Strikes Family on Ohio Railroad Bridge, Killing 3
Two women and a 5-year-old girl died after a train struck the family members while they were on a railroad bridge over a northern Ohio river, authorities said Monday. Crews equipped with sonar had been scouring the Sandusky River through …...
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May 20, 2025
Federal Jury Awards $405K Verdict Against Florida Senior Living Facility
A federal jury awarded $405,083 to a veteran in a disability discrimination case against a St. Petersburg, Florida, senior living facility and its operating companies, the U.S. Equal Employment Opportunity Commission (EEOC) announced. According to th...
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May 19, 2025
California Commissioner Launches Smoke Claims & Remediation Task Force
A new task force has been formed to develop standards in California for insurance coverage and clean-up of smoke-damaged homes. California Insurance Commissioner Ricardo Lara announced the formation of a Smoke Claims & Remediation Task Force with...
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May 19, 2025
Turbulent Waters May Have Been Factor in Mexican Ship’s Crash Into Brooklyn Bridge
When a Mexican navy tall ship crashed into the Brooklyn Bridge, it was maneuvering in turbulent waters. The tide had just turned, and a fast current was heading up the East River as a 10 mph wind set in. While …...
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May 19, 2025
Despite Backlash From Trump, DEI Hasn’t Disappeared at US Companies
Walmart Inc. stunned civil-rights activists in November by saying it was pulling back on diversity, equity and inclusion efforts. The world’s largest retailer said it would stop using the term “DEI” in official communications, remov...
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May 19, 2025
Fire Destroys Mansion on a Former Louisiana Sugar Plantation
Flames ripped through a massive mansion in Louisiana, destroying much of the historic structure that was used as a plantation house when it was completed in 1859, authorities said. The fire that engulfed the Nottoway Plantation House on Thursday deva...
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May 19, 2025
M&S’ Slow Recovery From Cyberattack Puts it at Risk of Lasting Damage
A month after a costly cyberattack on one of Britain’s best known retailers, Marks & Spencer has yet to restore online shopping as it prioritizes safety over speed, while retailers worldwide race to boost their defenses. The attack on the &...
