Industrial conglomerate Koch Industries received nearly $2.5 billion in dividend payments last year from its Georgia-Pacific unit, which had spun off a subsidiary that took on its liability from asbestos litigation and then filed bankruptcy to limit lawsuit payouts, according …
SPRINGFIELD, Ill. (AP) – Illinois’ two-week-old ban on semiautomatic weapons outlaws “ubiquitous” firearms in “radical” defiance of the Constitution’s Second Amendment, a federal lawsuit filed by the National Rifle Association Tuesday claims. The powerful NRA joined a parade of gun-rights …
The U.S. Food and Drug Administration on Tuesday announced new guidance to reduce exposure to lead in processed baby foods. Though recommended and not required, the new proposed action levels from the FDA “could result in as much as a …
Until investors can be convinced that property-catastrophe reinsurance pricing has caught up with recurring event losses, they’ll continue to sit on the market sidelines, a market executive said recently. During an AM Best Reinsurance Briefing, Aditya Dutt, president of Aeolus …
Qantas Airways Ltd., the airline whose stellar safety record was made famous by Hollywood, is back in the spotlight after a flurry of mechanical malfunctions. The Australian airline has been hit by a spate of in-flight issues since the middle …
Britain’s financial regulators would face more scrutiny over their policies for consumers and the economy from Parliament under proposals from members of the House of Lords. A new independent body could track progress against certain metrics, with elected officials also …
Social inflation accounts for 8% to 11% of all medical malpractice losses for carriers that insure physicians, according to an actuarial analysis commissioned by The Doctors Co. TDC hired Moore Actuarial Consulting to estimate how much insurers’ average losses are …
The PGA Tour 2023 calendar year teed off in Kapalua, Hawaii earlier this month with the Sentry Tournament of Champions, sponsored by Sentry Insurance. The tournament marked the first of 13 new elevated PGA Tour events this year with increased …
This edition of International People Moves details appointments at Everest Insurance International and Swiss Re Corporate Solutions. A summary of these new hires follows here. Everest Insurance Int’l Taps Zurich’s Powell to Lead Financial Lines Everest Insurance, the primary insurance …
A light earthquake centered offshore gave Southern California an early morning wake-up call Wednesday, the U.S. Geological Survey confirmed. There were no reports of damage. The 2 a.m. quake occurred beneath the ocean 10.6 miles south of Malibu, the USGS …