Monthly Archives: <span>February 2022</span>

VW Fears Most of Its Cars on Cargo Ship ‘Felicity Ace’ Are Beyond Salvage

Volkswagen AG has lost hope that many of its roughly 4,000 vehicles aboard a cargo ship that caught fire last week in the Atlantic can be saved. The automaker’s brands and dealers have started notifying customers that the U.S.-bound vehicles …

California Commissioner Wants to Require Insurers to Factor Wildfire Safety Steps into Pricing

California Insurance Commissioner Ricardo Lara announced new regulations he believes will improve wildfire safety and drive down the cost of insurance for homeowners and businesses. The proposed regulations, which could be in effect by this summer, call for insurance companies …

Lemonade Execs Expect ‘Peak Losses’ in 2022

With unfavorable development and product mix changes propelling fourth-quarter and full-year loss 2021 ratios into the 90s—up 20 points over comparable 2020 periods—Lemonade guided shareholders that results will get worse in 2022. “2022 is expected to be our year of …

Fire on Massive Car Transport Ship, Felicity Ace, Is Likely Extinguished

The fire on the cargo ship Felicity Ace, which had burned for more than a week, is likely extinguished and the vessel is now being towed, according to the operator MOL Ship Management. The ship had been transporting thousands of …

Pandemic, Other Risks Weigh on Minds of Middle-Market Execs

Most middle-market firms experienced a recovery following the height of disruptions caused by COVID-19 and remain mostly optimistic about the global economy, but other business risks loom large. According to a survey of 1,000 executives by Chubb and the National …

Fire Destroys Historic Los Angeles Poor Farm Buildings

Several abandoned buildings at the historic Los Angeles County Poor Farm were destroyed by fire, fire departments said. At least five agencies responded and the fire was contained in buildings on the vacant south campus of the county’s public rehabilitation …

Insurance Technology: Nationwide Sponsors Homecare Robots; Trucker Platform Nirvana Raised $25M; DealerPolicy Rebrands as Polly; Dent.co Aids Auto Repairs

Nationwide Sponsors Labrador Retriever Robot Giant insurer Nationwide is partnering with an early-stage robotics company, Southern California-based Labrador Systems, on a multi-state pilot program with the Labrador Retriever, a personal robot designed to help individuals live more independently as well …

Washington Inmate’s Family to Get $3.75M in Cancer Death

Washington state will pay $3.75 million to settle a wrongful-death lawsuit brought by the family of a man who died at Monroe Correctional Complex after his cancer went untreated despite repeated pleas. Kenny Williams, 63, died in June 2019 of …

Montana Jury Awards $36.5M to Former Libby Miner With Lung Disease

A Montana jury has awarded $36.5 million in damages to an Oregon man who suffers from lung disease because of exposure to asbestos while working at a vermiculite mine in Libby, a bellwether case that could affect hundreds of additional …

U.S. Won’t Give Water to California Farmers Because of Drought

With California entering the third year of severe drought, federal officials said Wednesday they won’t deliver any water to farmers in the state’s major agricultural region – a decision that will force many to plant fewer crops in the fertile …