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10, 2015
U.S. Bankruptcy Judge Approves Quebec Oil Train Crash Settlement
A U.S. bankruptcy judge on Friday approved a settlement that clears the way for payments to victims of Canada’s Lac-Megantic crude-by-rail derailment, according to the trustee for the insolvent railway at the heart of the disaster. The approval came after …
12
10, 2015
California Commissioner OKs Metlife Ridesharing Insurance for Lyft Drivers
Lyft drivers have a new ridesharing insurance option covering all three ridesharing periods and offering liability coverage with the option to add additional coverages. Those changes came to light on Monday with the introduction of a new product, approved by …
12
10, 2015
What’s Driving Surplus Lines Insurance Growth?
Times are good for surplus lines professionals. The surplus lines industry reached new heights in 2014, growing direct premium written (DPW) in 2014 to $40.2 billion – the highest point in history, reports A.M. Best’s “2014 Special Report U.S. Surplus …
12
10, 2015
Washington Sues Contactor Building $3.1B Seattle Tunnel
Washington is suing the contractor building the $3.1 billion tunnel replacement project for Seattle’s Alaskan Way Viaduct. In a statement late Friday afternoon, the Department of Transportation says it filed the lawsuit against Seattle Tunnel Partners in King County Superior …
12
10, 2015
A.M. Best Trend: Negative Insurer Ratings Outnumber Positive in 2015 First Half
The U.S. property/casualty (P/C) industry’s rating activity over the first half of 2015 turned negative as downgrades and negative outlooks outpaced upgrades and positive outlooks, according to A.M. Best. This activity reversed a two-year positive trend, the ratings agency said. …
12
10, 2015
Los Angeles City Council Votes for Quake Retrofit on Older Buildings
Thousands of older wood and concrete apartment buildings that would be vulnerable to collapse in a major earthquake would get costly upgrades under sweeping retrofitting rules passed Friday by the Los Angeles City Council. The mandate would affect as many …
12
10, 2015
HealthCare.gov Enhances Customer Privacy Features As 2016 Enrollment Nears
Responding to criticism from civil liberties advocates, the Obama administration said last week that it has strengthened consumer privacy protections on the government’s health insurance website as a new sign-up season nears. HealthCare.gov CEO Kevin Counihan said in a blog …
12
10, 2015
Oregon Court Won’t Exclude Oracle Executives from Suit
The Oregon Supreme Court has denied a request by Oracle Corp. to have five of its executives excluded from a lawsuit filed by the state over the failure of the Cover Oregon health insurance exchange. The court issued the ruling …
12
10, 2015
Drugs Prices Much Higher in U.S. Than in Other Countries: Reuters Research
U.S. prices for the world’s 20 top-selling medicines are, on average, three times higher than in Britain, according to an analysis carried out for Reuters. The finding underscores a transatlantic gulf between the price of treatments for a range of …
12
10, 2015
Losses to South Carolina Crops Rising as State Suffers More Rain
Thad Wimberly tugs on a clump of peanuts, shaking off the mud as he cracks the soggy shells to inspect his crop. But all he can do is sigh as his livelihood disintegrates between his fingers. Just a week …