News Archives - Insurance Journal

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31 07, 2023

Las Vegas Casino Mogul Fined $10M to End Fight Over Claims of Workplace Sexual Misconduct

By | July 31st, 2023|Uncategorized|Comments Off on Las Vegas Casino Mogul Fined $10M to End Fight Over Claims of Workplace Sexual Misconduct

Casino mogul Steve Wynn has ended a yearslong legal fight with Nevada gambling regulators that started with claims of workplace sexual misconduct, agreeing to pay a $10 million fine and cut ties to the industry he helped shape in Las …

31 07, 2023

DOJ Asks Supreme Court to Delay Purdue Pharma Bankruptcy Settlement

By | July 31st, 2023|Uncategorized|Comments Off on DOJ Asks Supreme Court to Delay Purdue Pharma Bankruptcy Settlement

The U.S. Department of Justice on Friday asked the U.S. Supreme Court to stop Purdue Pharma from proceeding with a bankruptcy settlement that protects its Sackler family owners from lawsuits. An appeals court rejected a proposed delay earlier this week, …

31 07, 2023

Ways to Mitigate Mobile Home Wind Damage Often Ignored, Even as Deaths Rise

By | July 31st, 2023|Uncategorized|Comments Off on Ways to Mitigate Mobile Home Wind Damage Often Ignored, Even as Deaths Rise

Rolling Fork, Mississippi (AP) — Many were not just killed at home. They were killed by their homes. Angela Eason had visited Brenda Odoms’ tidy mobile home before. It was a place where Odoms, who had many tragedies in her …

31 07, 2023

SC Judge OKs $15M Insurance Payout for Store that Sold Beer to Underage Murdaugh

By | July 31st, 2023|Uncategorized|Comments Off on SC Judge OKs $15M Insurance Payout for Store that Sold Beer to Underage Murdaugh

A South Carolina judge A judge has signed off on a $15.5 million settlement for the family of Mallory Beach, the 19-year-old girl who died in a 2019 boat crash that is believed to have set in motion the downfall …

31 07, 2023

J&J Effort to Resolve Talc Lawsuits in Bankruptcy Fails a Second Time

By | July 31st, 2023|Uncategorized|Comments Off on J&J Effort to Resolve Talc Lawsuits in Bankruptcy Fails a Second Time

A U.S. judge on Friday shot down Johnson & Johnson’s second attempt to resolve tens of thousands of lawsuits over its talc products in bankruptcy, imperiling a proposed $8.9 billion settlement that would stop new lawsuits from being filed. U.S. …

31 07, 2023

Ford Recalls 870,000 F-150 Trucks Over Unexpected Parking Brake Activation

By | July 31st, 2023|Uncategorized|Comments Off on Ford Recalls 870,000 F-150 Trucks Over Unexpected Parking Brake Activation

Ford Motor said Friday it is recalling 870,000 F-150 trucks in the United States because of the risk of an unexpected activation of the electric parking brake due to a potential wiring issue. The recall covers 2021 through 2023 model …

31 07, 2023

Extreme Weather Risks May Make Parts of the World ‘Uninsurable’

By | July 31st, 2023|Uncategorized|Comments Off on Extreme Weather Risks May Make Parts of the World ‘Uninsurable’

Soaring global temperatures may make large parts of the world “uninsurable,” according to Spain’s largest insurance firm. Climate change “has the potential of changing the insurance business profoundly and making part of the world uninsurable,” Gonzalo Gortazar, CaixaBank SA’s chief …

31 07, 2023

Burning Car Carrier Off Dutch Coast Being Towed Away From Shipping Lanes

By | July 31st, 2023|Uncategorized|Comments Off on Burning Car Carrier Off Dutch Coast Being Towed Away From Shipping Lanes

A burning car carrier off the Dutch coast is being towed to a new location away from shipping routes as part of a difficult operation to salvage the ship, the Dutch water board Rijkswaterstaat and media said. The ship will …

31 07, 2023

Global Insurance Prices Continue to Moderate in Q2 With Exception of Property: Marsh

By | July 31st, 2023|Uncategorized|Comments Off on Global Insurance Prices Continue to Moderate in Q2 With Exception of Property: Marsh

Global commercial insurance pricing rose 3% in the second quarter of 2023, down from 4% in Q1, according to Marsh, which pointed to two notable trends during Q2: a moderation in cyber rates and continuing challenges in property insurance, which …

31 07, 2023

Q2 Net Income Up 23% at The Hartford, Bolstered by Commercial Lines

By | July 31st, 2023|Uncategorized|Comments Off on Q2 Net Income Up 23% at The Hartford, Bolstered by Commercial Lines

The Hartford said second quarter net income was $542 million, an increase of 23% compared with the same period a year ago, driven by written premium growth of 12% in commercial lines. Net income from commercial lines was $458 million, …