self-insurance News

The Risky Economics of ‘Going Bare’ Without Homeowners Insurance

Owning a home can feel like risky business, from coming up with the mortgage payment every month to worrying about disasters like fires or floods or tornadoes. But here is something riskier still: Going without home insurance in the U.S. …

The Rise of Self-Insurance: Navigating Risk in a Changing Insurance Landscape

In an era of heightened climate risks and evolving insurance dynamics, the traditional insurance model faces a conundrum. Insurers find themselves grappling with the aftermath of more frequent and severe storms, and struggling to collect adequate premiums while navigating stringent …

Lawsuit Alleges Negligence by CSX in Kentucky Train Derailment

LOUISVILLE, Ky. (AP) — A lawsuit filed Wednesday in federal court alleges negligence by CSX Transportation caused a train derailment and ensuing chemical fire that forced residents of a small Kentucky town out of their homes for more than a …

Whistleblower Says Southern Co. Should Repay $382M for Failed Clean Coal Plant

(AP) — A former employee is suing to force a Mississippi utility to repay $382 million that the federal government gave to build a failed coal- fueled power plant. Kelli Williams, a former construction manager for Atlanta-based Southern Co., filed …

Georgia Power to Pay $413M to Settle Lawsuit over Nuke Plant Cost Overruns

ATLANTA (AP) — Georgia Power Co. will pay $413 million to settle a lawsuit accusing the utility of reneging on financial promises to one of its nuclear reactor partners. The payments to Oglethorpe Power Corp., announced Friday, could hold down …

Bill Gates-Backed Florida Startup Aims to Turn Oil-Drilling Gas into Useful Methanol

(Bloomberg) — Semi trailer-sized machines could provide a unique solution to a major source of the fossil fuel industry’s methane problem. Rather than flaring or venting the planet-warming gas into the atmosphere, the machines can convert it into methanol, a …

Tornado-damaged Pfizer Plant in North Carolina Restarts Production

ROCKY MOUNT, N.C. (AP) — A major Pfizer pharmaceutical plant in North Carolina that makes critical supplies for U.S. hospitals has restarted production about 10 weeks after it was heavily damaged by a tornado, the company announced Monday. Getting a …

NC Family Sues Google After Man Drove off Collapsed Bridge Following Map Directions

RALEIGH, N.C. (AP) — The family of a North Carolina man who died after driving his car off a collapsed bridge while following Google Maps directions is suing the technology giant for negligence, claiming it had been informed of the …

Judge Tosses Fraud Against Exec in SC Nuclear Debacle, But New Case Could Follow

A judge has ordered criminal charges dropped against the final executive accused of lying about problems building two nuclear reactors in South Carolina that were abandoned without generating a watt of power. The judge tossed the charges Wednesday because ratepayers …

Skanska Must Face the Music: Maritime Law Does Not Protect it from Fla. Storm Claims

A construction company whose barges came loose from their moorings during Hurricane Sally and damaged the Pensacola Bay Bridge will have to cope with some 900 claims by businesses and other parties that say they suffered economic damages while the …