Federal Insurance Co. must pay the $10 million policy limit in a directors and officers policy issued to Astellas Pharma, despite the carrier’s assertion that Illinois public policy forbids it from reimbursing the drugmaker for the cost of settling allegations …
Abnormally hot and dry weather is set to return to Alberta on Thursday after a couple of cooler days helped calm wildfires that have forced thousands of evacuations and disrupted production in Canada’s main oil-rich province. Record-high temperatures and tinder-dry …
Spain and Portugal recorded their hottest April on record as a mass of hot air brought temperatures above 30C and close to 40C in some areas at the end of the month. Last month was the fourth-hottest month of April …
Drivers are kicking the tires and trading up for new auto insurance policies. In the first quarter, new policy growth rate was up 17% over the same period in 2022, and a record-breaking shopping growth rate was up 10.2% compared …
Banks, insurers and asset managers in the European Union would only be allowed to sell funds and other products across the bloc if they could prove to regulators they offer value for money, draft proposals seen by Reuters showed. The …
Peloton Interactive Inc. and the US Consumer Product Safety Commission announced a long-awaited fix for the fitness company’s recalled Tread+ machine, which was pulled off the market two years ago following dozens of injuries and one death. The repair involves …
Driven by a “personal vendetta” against a toll bridge company, Alabama’s transportation director planned to build an unnecessary bridge across the Intracoastal Waterway at a cost of more than $100 million to the state, according to a judge who ordered …
The Federal Reserve issued a detailed and scathing assessment on Friday of its failure to identify problems and push for fixes at Silicon Valley Bank before the U.S. lender’s collapse, and promised tougher supervision and stricter rules for banks. In …
Canopius Group, the London-based global specialty re/insurer, has had a management shake-up, with three executives exiting the company. “Over the last 18 months, Canopius has reorganised our global underwriting operations to both enhance the focus on specialist underwriting capabilities and …
A construction worker was killed and another was missing Friday morning after a massive fire broke out in an upscale business and residential area of Charlotte, North Carolina. News outlets reported that the five-alarm fire began early Thursday in or …