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News – Insurance Journal
Beirut Port Explosion to Cost Insurers Approximately $3 Billion: Sources
Insured losses from the Beirut port warehouse explosion are likely to total around $3 billion, similar to those from an explosion at the Chinese port of Tianjin in 2015, industry sources and analysts say. The blast on Tuesday, the biggest …
POSTED AUGUST 09, 2020 11:32 AM |
Appeals Panel Rejects Suit over Abandoned Mine Shaft Death in Colorado
A federal appeals panel has upheld the dismissal of a wrongful death lawsuit filed by the family of a woman who died when the car she was riding in drove off a Forest Service road and into an abandoned mine …
POSTED AUGUST 07, 2020 9:17 PM |
8 Washington Fitness Centers Cited for Violating Safe Start Order
Operators of eight fitness centers in Eastern Washington face fines totaling more than $77,000 for being open in violation of the state’s Safe Start order. The Washington State Department of Labor & Industries recently cited the companies for potentially exposing …
POSTED AUGUST 07, 2020 9:14 PM |
California Department of Insurance Fraud Suit Results in $24M in Payments from AbbVie
California Insurance Commissioner Ricardo Lara this week announced a settlement agreement with AbbVie Inc. to resolve a lawsuit alleging violations of the California Insurance Frauds Prevention Act involving the marketing of blockbuster prescription drug HUMIRA. AbbVie agreed to reform its …
POSTED AUGUST 07, 2020 9:10 PM |
Major League Baseball to Players and Staff: Wear Mask or You’re Out!
Major League Baseball is cracking down on coronavirus safety protocols, mandating that players and staff wear face coverings at all times, including in the dugouts and bullpens, except for players on the field of play. The league sent a memo …
POSTED AUGUST 07, 2020 3:58 PM |
New Risk to Global Supply Chains Emerges as Weary Crews, Stuck Offshore, Halt Work
A new risk to global supply chains is emerging as exhausted seafarers stuck offshore for months halt work, a breaking point caused by restrictions on crew changes amid coronavirus precautions. Three vessels are idled in Australia after crews who worked …
POSTED AUGUST 07, 2020 3:56 PM |
World’s Three Hottest Julys on Record Occurred During Last Five Years
Last month was the world’s third-hottest July on record, new data show — the latest milestone in a global warming trend that has seen the three hottest Julys within the last five years. With the heat has come a high …
POSTED AUGUST 07, 2020 3:40 PM |
S. Africa’s Regulator to Clarify Policyholders’ Rights in Pandemic Insurance Claims
South Africa’s financial watchdog is consulting with lawyers and the insurance industry on a potential test case to clarify whether insurers should pay rejected claims from firms hit by the impact of the coronavirus, it told Reuters on Thursday. Several …
POSTED AUGUST 07, 2020 3:22 PM |
Hannover Re’s CFO Vogel to Retire, Succeeded by Jungsthöfel from HDI Global
After more than 30 years at Hannover Re, Chief Financial Officer Roland Vogel (60) will retire on Sept. 30, 2020. He will be succeeded by Clemens Jungsthöfel, currently chief financial officer of HDI Global SE. Jungsthöfel, in turn, will be …
POSTED AUGUST 07, 2020 3:00 PM |
Capital One Will Pay $80 Million Fine for Data Breach During Cloud Transfer
Capital One Financial Corp will pay an $80 million penalty to a U.S. bank regulator after the bank suffered a massive data breach one year ago. The fine, announced Thursday by the Office of the Comptroller of the Currency, punishes …
POSTED AUGUST 07, 2020 2:54 PM |
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