News

Crum & Forster Policy Covered Accidents, Not Intentional Pollution, Appeals Court Says

Greasy, toxin-laden wastewater discharges by a Mississippi animal feed maker were not accidents and thus are not covered by a Crum & Foster pollution policy, a federal appeals court decided this week in a case that stemmed from an investigation …

Firefighting Foam Contaminates Public Water for About 9,000 in Maine

WATERVILLE, Maine (AP) – Firefighting foam used in battling a fatal fire in an apartment building entered the public water system, prompting the water district to order thousands of residents not to drink the water. The do-not-drink order went into …

Appeals Court Upholds Revised Admissions Policy at Elite Virginia High School

A divided federal appeals court on Tuesday upheld the constitutionality of a new admissions policy at an elite public high school in Virginia that critics say discriminates against highly qualified Asian Americans. The 2-1 ruling from the 4th U.S. Circuit …

With Digital Channels Insurers Impress Shoppers but Not Existing Customers

Though insurers do a good job attracting new customers shopping for policies via their digital channels, they fall short when it comes to servicing existing customers, a new industry report shows. Overall satisfaction with the P&C shopping experience is up …

EU Sets Out Plans to Cut Price of Financial Products Offered by Banks, Insurers

The European Union set out plans on Wednesday to cut how much retail investors pay banks and insurers for financial products to encourage investment and make its capital market deeper and more efficient. The retail investment package toughens up existing …

Anti-ESG Rhetoric in U.S. Prompts Urgent Talks as Insurers Quit Climate Coalition

The world’s biggest climate coalition for insurers is set to hold emergency talks after a wave of defections revealed the extent to which anti-ESG rhetoric in the US is unsettling members. Signatories of the Net Zero Insurance Alliance are due …

UN Says U.S. Concerns Have Led to Insurers Quitting Climate Alliance

The United Nations Environment Programme on Wednesday said “recent discussions within the United States” had been behind four insurance firms quitting a UN-convened alliance aimed at reducing carbon emissions in recent months. Republican federal and state lawmakers, governors, and attorneys …

Brown & Brown Agrees to Buy UK Parent of Nexus Underwriting, Xenia Broking

Brown & Brown Inc., the Daytona Beach, Fla.-based broker, announced it has entered into an agreement to acquire Kentro Capital Ltd. in the UK. The transaction is expected to close in the fourth quarter of 2023, subject to certain closing …

Arthur J. Gallagher Acquires Florida’s Ken Brown Brokerage

Arthur J. Gallagher & Co., the global insurance brokerage and consulting firm, said it has acquired Florida-based Insurance by Ken Brown Inc., a retail broker specializing in coverage for construction and swimming pool companies in the Southeastern United States. Ken …

White House Takes New Steps to Study AI Risks, Determine Impact on Workers

The White House said on Tuesday it would ask workers how their employers use artificial intelligence (AI) to monitor them, as it allocates federal investments in the technology, which is expected to change the nature of work. The White House …

News Archives by Month