October 30, 2020
Lloyd’s of London lost its initial bid to squelch a coronavirus business interruption lawsuit brought by a Philadelphia bar and restaurant. Judge Gary S. Glazer of the Court of Common Pleas in Philadelphia turned aside preliminary objections to the suit …
October 30, 2020
The world’s property/casualty insurers would have to collect business interruption insurance premiums for 150 years in order to absorb the estimated US$4.5 trillion global output loss inflicted by COVID-19 and its handling in 2020. P/C insurers currently collect US$1.6 trillion …
October 30, 2020
McDonald’s Corp. was hit on Thursday with a potentially multi-billion-dollar lawsuit by Black franchise owners who accused the fast-food giant of racial discrimination for steering them to underperforming stores. The proposed class action led by James and Darrell Byrd, brothers …
October 30, 2020
A decade of low interest rates and tough underwriting conditions has led reinsurers to cautiously invest in riskier and more illiquid assets to generate additional return. The good news is that this strategy also has helped reinsurers tolerate the economic …
October 30, 2020
Federal and state authorities on Wednesday investigated a crash between a school bus carrying 24 children and a utility vehicle that killed the bus driver and a 7-year-old girl in eastern Tennessee. Eight other children were injured when the utility …
October 30, 2020
The Florida Office of Insurance Regulation is monitoring the state’s property insurance situation that is seen as in a crisis by those in the industry. The regulator said the insurance market has been buffeted by multiple hurricanes in the last …
October 30, 2020
Property/casualty insurance companies in Louisiana, including those that write private and/or excess flood coverage, as well as surplus lines insurers, have been directed to report claims data arising from Hurricane Delta to the state insurance department. It is the second …
October 30, 2020
Nexus Specialty has hired Katie Schneider as assistant vice president, Management & Professional Liability, in the group’s Chicago, Ill., office. The company also named William K. Fayette, senior underwriter, Management & Professional Liability, also based in Chicago. Schneider will be …
October 30, 2020
The Douglas School District in Box Elder, S.D., will pay a former district employee $50,000 to settle a lawsuit filed in February 2019, representatives from both sides said on Oct. 27. Patrick Ealy said he was wrongly terminated by the …
October 30, 2020
An Illinois-based staffing agency will pay $25,000 to settle a federal lawsuit alleging it refused to hire qualified females as receiving associates. LTI Services LLC in Burbank, Ill., also has agreed to other conditions to settle a sex discrimination lawsuit …