National News

Shareholders Can Sue McDonald’s Ex-Executive in Landmark Ruling

Shareholders can sue McDonald Corp’s former global chief people officer for the damage they claim he caused to the restaurant chain by allegedly allowing a culture of sexual harassment to flourish, according to a groundbreaking legal ruling. The decision marks …

FBI Says N. Korea-Related Hacker Group Behind Crypto Firm Heist

A hacker group associated with North Korea, the Lazarus Group, also known as APT38, was responsible for the theft last June of $100 million from U.S. crypto firm Harmony’s Horizon bridge, the Federal Bureau of Investigation said on Monday. On …

Report Says Social Inflation Adds Up to 11% to Physician Malpractice Claims

Social inflation accounts for 8% to 11% of all medical malpractice losses for carriers that insure physicians, according to an actuarial analysis commissioned by The Doctors Co. TDC hired Moore Actuarial Consulting to estimate how much insurers’ average losses are …

A Class-Action Wave Is Coming for ESG Claims

Lawyers are bracing for an increase in ESG-related cases as corporate disclosure requirements stiffen around the world. A survey by the law firm Norton Rose Fulbright found that 28% of more than 430 general counsel and in-house litigation leaders said …

Markets/Coverages: kWh Analytics, Aspen Partner on Property for Renewables; Hub Starts People & Tech Consulting; DUAL New Fine Art Program

kWh Analytics, Aspen Partner on Property Insurance for Renewables kWh Analytics, a leader in climate insurance, announced the launch of property insurance for renewable energy assets with capacity partner Aspen Insurance. This new product will provide coverage against physical damage …

FDA Proposes New Limits on Lead in Baby Foods

The U.S. Food and Drug Administration on Tuesday announced new guidance to reduce exposure to lead in processed baby foods. Though recommended and not required, the new proposed action levels from the FDA “could result in as much as a …

U.S. Targets Google’s Online Ad Business Monopoly in Latest Big Tech Lawsuit

The U.S. Justice Department accused Alphabet Inc’s Google on Tuesday of abusing its dominance in digital advertising, threatening to dismantle a key business at the heart of one of Silicon Valley’s most successful internet companies. The government said Google should …

Climate Is Forcing the Most Risk-Aware Industry to Reinvent Itself

When it comes to climate impacts, the frontline of the finance industry is insurance. Last year’s payout from damages caused by extreme-weather events totaled $120 billion—about the same as the economic output of Kenya. And that’s a 50% increase over …

Auto Insurance Shopping – and Switching – Increases

Drivers are not only shopping around for auto insurance more than ever, they are switching carriers. According to a quarterly report from J.D. Power, in collaboration with TransUnion, the quote rate for auto insurance in the fourth quarter 2022 was …

At-Bay Acquires Licensed P&C Insurance Carrier

Managing general agent At-Bay said it has acquired an excess and surplus lines insurer licensed in 44 states from XL Insurance America to now become a full-stack carrier. “This milestone will allow us to accelerate the pace of our innovation …

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