News Archives - Insurance Journal

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11 06, 2024

Real Nut Case: Ice Cream Maker Sued Over Lack of Actual Pistachios

By | June 11th, 2024|Uncategorized|Comments Off on Real Nut Case: Ice Cream Maker Sued Over Lack of Actual Pistachios

Is it nuts to assume a scoop of pistachio ice cream should contain actual pistachios? Or how about real butter in a dish of butter pecan? Such weighty questions about a favorite summertime confection could soon be decided by the …

11 06, 2024

Uber Loses Challenge to California Gig Work Law in Appeals Court

By | June 11th, 2024|Uncategorized|Comments Off on Uber Loses Challenge to California Gig Work Law in Appeals Court

A U.S. appeals court on Monday rejected a bid by Uber and subsidiary Postmates to revive a challenge to a California law that could force the companies to treat drivers as employees rather than independent contractors who are typically less …

11 06, 2024

Baltimore Reaches $45 Million Opioid Settlement with Allergan

By | June 11th, 2024|Uncategorized|Comments Off on Baltimore Reaches $45 Million Opioid Settlement with Allergan

The city of Baltimore has reached a $45 million settlement with Allergan Financet to resolve the city’s claims in ongoing litigation against opioid distributors and manufacturers related to the nation’s opioid epidemic. The settlement comes after the city opted out …

11 06, 2024

Reuters: Walmart Opposes New York Plan to Add Panic Buttons to Stores

By | June 11th, 2024|Uncategorized|Comments Off on Reuters: Walmart Opposes New York Plan to Add Panic Buttons to Stores

Retail giant Walmart says it is against putting panic buttons in stores – a move that the New York legislature wants to require under a new law aimed at keeping retail workers safe. On Friday, the New York State Senate …

11 06, 2024

Police Say No Charges Will Be Filed in Lobster Monster Truck Crash

By | June 11th, 2024|Uncategorized|Comments Off on Police Say No Charges Will Be Filed in Lobster Monster Truck Crash

A police investigator concluded no criminal charges were warranted after a lobster-themed monster truck clipped a power line, causing some scary moments with live wires falling to the ground. Two people were taken to hospitals. Several people were injured Saturday …

11 06, 2024

People Moves: CSAA Names Huebner EVP of Commercial Insurance

By | June 11th, 2024|Uncategorized|Comments Off on People Moves: CSAA Names Huebner EVP of Commercial Insurance

CSAA Insurance Group named Jeff Huebner executive vice president of commercial insurance. Huebner is responsible for the distribution of commercial insurance under the Mobilitas brand. Huebner has been with CSAA Insurance Group for more than 22 years and has more …

11 06, 2024

Homeownership Costs in US Jumped 26% Since Pandemic Began

By | June 11th, 2024|Uncategorized|Comments Off on Homeownership Costs in US Jumped 26% Since Pandemic Began

The cost of owning a home in the US has increased 26% since 2020, as expenses including taxes, insurance and utilities all soared during a period of high inflation across the economy. The average annual outlay for owning and maintaining …

11 06, 2024

Latest Trial Over Zantac Cancer Claims Called Off as Plaintiff Drops Case

By | June 11th, 2024|Uncategorized|Comments Off on Latest Trial Over Zantac Cancer Claims Called Off as Plaintiff Drops Case

A woman who claimed in a lawsuit that GSK’s discontinued heartburn drug Zantac caused her breast cancer dropped her case shortly before it was set to go to trial in Illinois state court on Monday, the company announced. GSK said …

10 06, 2024

Former Allianz Employee Pleads Guilty to Fraud Over $7-Billion Funds Collapse

By | June 10th, 2024|Uncategorized|Comments Off on Former Allianz Employee Pleads Guilty to Fraud Over $7-Billion Funds Collapse

A former Allianz fund manager pleaded guilty on Friday over his role in a meltdown of private investment funds sparked by the pandemic that caused an estimated $7 billion of investor losses. Gregoire Tournant, 57, of Basalt, Colorado, admitted to …

10 06, 2024

Global Reinsurance Sector Outlook Revised to Positive on Robust Profits, Tighter T&Cs

By | June 10th, 2024|Uncategorized|Comments Off on Global Reinsurance Sector Outlook Revised to Positive on Robust Profits, Tighter T&Cs

The market segment outlook for the global reinsurance segment has been revised to positive from stable after the sector saw robust profit margins in 2023, according to AM Best, which attributed the sector’s improved performance to higher attachment points and …