News Archives - Insurance Journal

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8 08, 2023

More ESG Lawsuits on the Horizon as Investors Jump on UK Law

By | August 8th, 2023|Uncategorized|Comments Off on More ESG Lawsuits on the Horizon as Investors Jump on UK Law

Investors are becoming more emboldened to file legal challenges against companies for their net zero claims, approaches to governance and other hot-button ESG issues, using a pair of underutilized provisions of a UK law. Standard Chartered Plc, BT Group Plc …

8 08, 2023

Insured Loss Estimate for Turkey Earthquake Rises to US$3.4 Billion: PERILS

By | August 8th, 2023|Uncategorized|Comments Off on Insured Loss Estimate for Turkey Earthquake Rises to US$3.4 Billion: PERILS

The third loss estimate for the Kahramanmaras Earthquake Sequence, which hit large parts of south-central Turkey and neighboring Syria on Feb. 6, 2023, has risen to $3.4 billion, according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance …

7 08, 2023

2 Killed, 3 Hurt When Pleasure Boat Catches Fire in Southern California Bay

By | August 7th, 2023|Uncategorized|Comments Off on 2 Killed, 3 Hurt When Pleasure Boat Catches Fire in Southern California Bay

Two women were killed and another woman and two men were hospitalized with burns after a weekend fire on a pleasure boat in Long Beach, California, authorities said. The blaze was reported around 5:15 p.m. Saturday on a 35-foot motorboat …

8 08, 2023

Oregon OSHA Cites Contractor for Multiple Job Safety Violations

By | August 8th, 2023|Uncategorized|Comments Off on Oregon OSHA Cites Contractor for Multiple Job Safety Violations

The Oregon Occupational Safety and Health Division fined Hillsboro contractor Arm & Hammer Construction Inc. $66,420 for multiple violations of workplace safety rules. In one violation, the company repeatedly failed to protect workers from fall hazards that could seriously injure …

8 08, 2023

Commercial Property Loans Are So Unappealing Banks Trying to Dump Them

By | August 8th, 2023|Uncategorized|Comments Off on Commercial Property Loans Are So Unappealing Banks Trying to Dump Them

Banks seeking to sell commercial-property loans are encountering a dried-up market with few options for an easy exit. Lenders including Goldman Sachs Group Inc. and JPMorgan Chase & Co. have been trying to sell debt backed by offices, hotels and …

8 08, 2023

Pfizer Taking More Steps to Manage Inventory After NC Tornado Destroyed Warehouse

By | August 8th, 2023|Uncategorized|Comments Off on Pfizer Taking More Steps to Manage Inventory After NC Tornado Destroyed Warehouse

Pfizer Inc. said on Thursday it will begin making some products available only through its emergency ordering process, as part of steps to manage inventory at its North Carolina facility that was struck by a tornado last month. The drugmaker …

8 08, 2023

New Jersey House Fire That Killed 4 Ruled an Accident

By | August 8th, 2023|Uncategorized|Comments Off on New Jersey House Fire That Killed 4 Ruled an Accident

A fast-moving house fire in southern New Jersey that killed four family members, including a four-month-old baby, has been ruled an accident, authorities said Wednesday. Two women, an infant and a teenage girl died in Tuesday`s fire in Lacey Township, …

8 08, 2023

Plexus Groupe Expands to Memphis, Adds Two to Roster

By | August 8th, 2023|Uncategorized|Comments Off on Plexus Groupe Expands to Memphis, Adds Two to Roster

The Plexus Groupe, an insurance brokerage and advisory firm based in Deer Park, Illinois, is expanding into Tennessee and has named two business leaders to the Memphis office. Cary Cheston, who has worked with Memphis businesses on insurance needs for …

8 08, 2023

Trucking Firm Yellow Files for Bankruptcy, Blasts Teamsters

By | August 8th, 2023|Uncategorized|Comments Off on Trucking Firm Yellow Files for Bankruptcy, Blasts Teamsters

Some 30,000 workers at Yellow Corp were looking for jobs on Monday after the major trucking company filed for Chapter 11 bankruptcy protection, potentially saddling U.S. taxpayers with losses from a government rescue of the long-troubled carrier. The nearly 100-year-old …

8 08, 2023

Average Cost of a Data Breach Has Reached an All-Time High: IBM Report

By | August 8th, 2023|Uncategorized|Comments Off on Average Cost of a Data Breach Has Reached an All-Time High: IBM Report

According to IBM’s Cost of a Data Breach report, 2023 set an all-time high record with the global average data breach cost reaching $4.45 million, a 2.3% increase from 2022 and a 15.3% from 2020. The 2023 research, conducted independently …