News Archives - Insurance Journal

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26 08, 2022

California to Phase out Gas Vehicles to Fight Climate Change

By | August 26th, 2022|Uncategorized|Comments Off on California to Phase out Gas Vehicles to Fight Climate Change

California set itself on a path Thursday to end the era of gas-powered cars, with air regulators adopting the world’s most stringent rules for transitioning to zero-emission vehicles. The move by the California Air Resources Board to have all new …

26 08, 2022

Girl Awarded $26M over California School Sex Assault

By | August 26th, 2022|Uncategorized|Comments Off on Girl Awarded $26M over California School Sex Assault

A jury awarded $26 million to a Pasadena special-needs student who was sexually assaulted by three classmates, her lawyers said Wednesday. A Los Angeles County jury in Long Beach ruled this week in a negligence lawsuit against the Pasadena Unified …

26 08, 2022

Moderna Sues Pfizer/BioNTech for Patent Infringement Over COVID Vaccine

By | August 26th, 2022|Uncategorized|Comments Off on Moderna Sues Pfizer/BioNTech for Patent Infringement Over COVID Vaccine

Moderna is suing Pfizer and its German partner BioNTech for patent infringement in the development of the first COVID-19 vaccine approved in the United States, alleging they copied technology that Moderna developed years before the pandemic. Pfizer shares fell 1.4% …

25 08, 2022

Russian Coal Exports Effectively Halted by EU Ban, With Re/Insurance as Key Factor

By | August 25th, 2022|Uncategorized|Comments Off on Russian Coal Exports Effectively Halted by EU Ban, With Re/Insurance as Key Factor

Russian coal exports were effectively halted by a European Union ban on entities within the 27-nation bloc servicing shipments of the fuel to anywhere in the world. Suek JSC, Russia’s largest thermal coal miner, was unable to ship the fuel …

25 08, 2022

Indian Ocean Off Coast of Somalia to Lose ‘High-Risk Area’ Designation as Piracy Drops

By | August 25th, 2022|Uncategorized|Comments Off on Indian Ocean Off Coast of Somalia to Lose ‘High-Risk Area’ Designation as Piracy Drops

The global shipping industry agreed to declassify the Indian Ocean coastline off Somalia as a “high-risk area” following years of successful counter-piracy operations. The change was approved by marine groups including the International Chamber of Shipping and will be operational …

25 08, 2022

Gas Producer Santos Faces New Climate Claim in Landmark Greenwashing Case

By | August 25th, 2022|Uncategorized|Comments Off on Gas Producer Santos Faces New Climate Claim in Landmark Greenwashing Case

Activists mounting one of the world’s first legal challenges over corporate greenwashing have expanded a case against gas producer Santos Ltd., raising fresh allegations about the company’s climate plans. A suit filed against the oil and gas producer is the …

25 08, 2022

Hub Acquires Winter Harbor Agency in Massachusetts

By | August 25th, 2022|Uncategorized|Comments Off on Hub Acquires Winter Harbor Agency in Massachusetts

Global insurance broker Hub International reports it has acquired the assets of Winter Harbor Insurance Group. Located in Woburn, Massachusetts, Winter Harbor Insurance Group is an independent insurance agency providing commercial and personal insurance. Jimmy Aiken, president of Winter Harbor, …

25 08, 2022

State Farm to Pay $100 Million to Federal Government for Hurricane Katrina Claims

By | August 25th, 2022|Uncategorized|Comments Off on State Farm to Pay $100 Million to Federal Government for Hurricane Katrina Claims

State Farm Fire and Casualty Co. and two former claims-adjuster sisters, who more than 16 years ago filed a lawsuit claiming the insurer committed fraud against the government’s National Flood Insurance Program following Hurricane Katrina, have settled. According to documents …

25 08, 2022

Erie Insurance Launches Venture Capital Fund

By | August 25th, 2022|Uncategorized|Comments Off on Erie Insurance Launches Venture Capital Fund

Pennsylvania-based Erie Insurance has launched Erie Strategic Ventures to invest in innovations in risk avoidance, claims, underwriting, digital sales, agency productivity, and products and services for home, families and small businesses. Erie said the venture fund is stage and geography …

25 08, 2022

Europe’s Record-Breaking Summer Heat Wave Will Be the Norm by 2035: Report

By | August 25th, 2022|Uncategorized|Comments Off on Europe’s Record-Breaking Summer Heat Wave Will Be the Norm by 2035: Report

Europe’s record-breaking heat wave will be just an average summer in less than 15 years — even if countries meet their climate goals — with regular droughts and fires set to become the norm. By the end of the century, …