A multibillion-dollar bill for the opioid epidemic in the United States is due, and insurers for some of the largest drug makers, distributors, and pharmacies are refusing to help pay for it. A January Delaware Supreme Court decision encouraged insurers eager to avoid massive policy claims from companies proposing to settle opioid liability lawsuits. In… Continue reading Insurers Refuse to Pick Up Tab for Billions in Opioid Claims
Author: Farkas Laura
Cyber Premiums Increased by 34.3% in Q4 2021
Premium prices climbed further in Q4 2021, according to results from The Council’s Commercial/ Property Casualty Market Index, marking the 17th consecutive quarter of premium increases. The average increase in premiums across all account sizes was 8.7%, down slightly from the 8.9% recorded in Q3 2021. Respondents reported an average premium increase of 34.3% for… Continue reading Cyber Premiums Increased by 34.3% in Q4 2021
Restaurants Debate Mask-Wearing As Covid-19 Rules Ease
As Covid- 19 restrictions are being lifted, restaurants are debating whether to continue require masks. In recent weeks, California, New York, Connecticut, Illinois, and other local governments have repealed mask requirements for dining in and working at restaurants. Some businesses, such as Texas Roadhouse Inc., the Cheesecake Factory Inc., and Applebee’s, believe that removing mask… Continue reading Restaurants Debate Mask-Wearing As Covid-19 Rules Ease
Florida Is Set to Pass Stricter Condo Rules After Surfside Collapse
Florida lawmakers are poised to pass legislation that would stiffen inspection and funding requirements for condo buildings, a move aimed at preventing a repeat of the Surfside, Fla., tower collapse last June that left 98 people dead. The disaster was one of the deadliest building failures in U.S. history and highlighted the vulnerabilities of condo… Continue reading Florida Is Set to Pass Stricter Condo Rules After Surfside Collapse
Make Sure to Consider These Factors When Insuring an Electrical Vehicle
Drivers shopping for an electric vehicle are learning that they need to take more insurance questions into account than they might with a gas-powered car. EV charging and its requisite wiring upgrades could affect homeowners insurance. Insurance experts say clients often ask whether storing a giant lithium-ion battery in the garage poses a fire risk.… Continue reading Make Sure to Consider These Factors When Insuring an Electrical Vehicle
Insurers and Reinsurers Should Stress Test Threat of Russian Cyber Attacks
Insurers and reinsurers holding large books of East European business are being urged to stress test their portfolios against the threat of Russian and Ukrainian cyber attacks. A new report published today by cyber risk analytics expert CyberCube identifies a series of potential cyber attack scenarios. The report “War in Ukraine creates fundamental shift in… Continue reading Insurers and Reinsurers Should Stress Test Threat of Russian Cyber Attacks
Biden Signs Bill Ending Forced Arbitration for Sexual Assault, Harassment
President Joe Biden on Thursday gave victims of workplace sexual assault or harassment the right to seek recourse in a court of law instead of through forced arbitration proceedings. Biden signed into law the Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act, which bars employment contracts from forcing people to settle claims of… Continue reading Biden Signs Bill Ending Forced Arbitration for Sexual Assault, Harassment
Major Freight Forwarders Suspend Russia Services
Several of the world’s largest freight forwarders have suspended services to Russia, citing growing restrictions imposed by shipping lines and air carriers that are cutting off the country’s access to global trade lanes as a result of Moscow’s invasion of Ukraine. Both Kuehne + Nagel International AG in Switzerland and DB Schenker in Germany have… Continue reading Major Freight Forwarders Suspend Russia Services
APCIA Supports Missouri Third-Party Litigation Finance Reform Bill
The “Consumer Litigation Funding Model Act,” was introduced in the Missouri House, Wednesday, Feb. 23, by Rep. Phil Christofanelli. It addresses a growing and extremely concerning legal trend that puts vulnerable individuals who file a lawsuit at risk of being taken advantage of by private investors, called third party litigation financers, according to the American… Continue reading APCIA Supports Missouri Third-Party Litigation Finance Reform Bill
Italy’s Generali to Sever Ties with Russia
Assicurazioni Generali, an Italian insurer, has decided to withdraw from Russia, the company announced late Thursday, as many Western businesses have begun to cut ties with Moscow. The third-largest insurer in Europe will wind down its Europ Assistance business in Russia and close its Moscow representative office. The Russian Europ Assistance business, which employs 80… Continue reading Italy’s Generali to Sever Ties with Russia