Breach Exclusions in E&O Policy Upheld in $1.3M Money Transfer Claim June 17, 2022 By Andrew G. Simpson A company that transferred $1.3 million from a client’s payment fund in response to emailed requests from a hacker has...
Alabama Insurance Commissioner Ridling to Retire; Fowler To Take Over June 17, 2022 Alabama’s longest-serving insurance commissioner, Jim Ridling, will retire at the end of the month, the state’s governor announced. “Jim has...
Porsche to Pay $80 Million to Resolve Fuel Economy Claims on U.S. Vehicles June 17, 2022 By David Shepardson Volkswagen AG and its Porsche AG unit have agreed to a class-action settlement worth at least $80 million to resolve...
Bus Driver Who Blacked Out Says He Didn’t Know Gummy Candies Included THC June 17, 2022 A commercial bus driver in Connecticut has been charged with 38 counts of reckless endangerment after blacking out behind the...
FTC Fires Warning Shot at Drug Middlemen Over Rebates, Fees June 17, 2022 By Diane Bartz The Federal Trade Commission (FTC) voted unanimously Thursday to increase scrutiny of pharmacy benefit managers that act as middlemen between...
Domestic Violence Charge Against New Hampshire Insurance Official Dropped June 17, 2022 A domestic violence charge against New Hampshire’s deputy insurance commissioner has been dropped. D.J. Bettencourt, who also was a former...
North Carolina Governor Signs Law Waiving Premium Taxes for Relocating Captives June 17, 2022 The battle for the captives continues. Not long after Tennessee regulators this year bragged about the number of captive insurers...
People Moves: Postlewhite Departs QBE Re; Lloyd’s Reappoints Chairman Carnegie-Brown; Liberty Specialty Appoints Pavie in France June 17, 2022 QBE Re Reports Departure of Postlewhite QBE announced that Steve Postlewhite, managing director QBE Re, is leaving the company following...
China Signals Ant’s Reemergence in Accepting Financial Holding Company Plan: Reuters June 17, 2022 By Julie Zhu and Xie Yu HONG KONG, June 17 (Reuters) – China’s central bank has accepted Ant Group’s application to set up a financial holding...
Appeals Court First to Rule in Favor of Coverage for COVID Shutdown June 17, 2022 By Jim Sams The attorney who filed the first U.S. lawsuit seeking insurance coverage for a business shut down because of coronavirus won...