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Senate Will Try to Block California Vehicle Standards to Phase Out Gas-Powered Cars
The U.S. Senate will move this week to block California from enforcing a series of vehicle emissions standards that are tougher than the federal government’s, including first-in-the-nation rules phasing out the sale of new gas-powered cars by 2035. Majority Leader …
POSTED MAY 20, 2025 6:06 PM |
Central US Severe Weather Outbreak Caused Billions in Damages, AccuWeather Says
A multiday severe weather outbreak across the central U.S. caused an estimated $9 billion to $11 billion in total damages and economic loss, according to AccuWeather preliminary estimates. More than 70 tornadoes have been reported since May 16. Authorities say …
POSTED MAY 20, 2025 4:30 PM |
Ryan Specialty Acquires Irish MGU 360° Underwriting
Ryan Specialty, the Chicago-based international specialty insurance firm, announce that it has acquired 360° Underwriting (360), a managing general underwriter specializing in commercial construction. 360 is based in Dublin and Galway, Ireland, and will become a part of the Ryan …
POSTED MAY 20, 2025 4:29 PM |
No NOAA Large-Disaster Data to Hurt Insurers’ Grasp of Secondary Perils, Says AM Best
Insurance industry financial strength rating agency AM Best said today that a decision to stop updating a National Oceanic and Atmospheric Administration disaster database could be detrimental to insurers and may require the rethinking of some products. About two weeks …
POSTED MAY 20, 2025 4:23 PM |
Iowa-Based Ice Cream Manufacturer Issues Recall Over Plastic Concerns
An Iowa-based ice cream manufacturer has recalled nearly 18,000 containers of ice cream and frozen yogurt over concerns they could contain pieces of plastic. Wells Enterprises issued the voluntary recall last month, according to recently released information from the Food …
POSTED MAY 20, 2025 4:07 PM |
Stablecoin Bill Advances in US Senate in Big Win for Crypto
Stablecoin legislation overcame a procedural blockade in the US Senate, marking a major victory for the crypto industry after a group of Democrats dropped their opposition Monday. The industry-backed regulatory bill is now set for debate on the Senate floor …
POSTED MAY 20, 2025 3:05 PM |
Massachusetts Denies 7.1% Workers’ Comp Rate Hike After 2024 ‘Excessive’ Cut
Massachusetts Insurance Commissioner Michael Caljouw has rejected an industry proposal to raise workers’ compensation rates by 7.1%. As a result, existing rates, which reflect a 14.6% decrease ordered last July, will remain in effect for policies on and after July …
POSTED MAY 20, 2025 2:01 PM |
Bayer Seeks Roundup Settlement, Explores Monsanto Bankruptcy: Reports
Bayer is preparing a plan to settle some of its mass lawsuits over Roundup weedkiller in Missouri, and may also seek bankruptcy for its Monsanto unit if the effort fails, the Wall Street Journal reported, citing sources. The German pharmaceutical …
POSTED MAY 20, 2025 12:41 PM |
New England’s Shield Health Settles Data Breach Cases for $15.3 Million
Shields Health Care Group has agreed to pay $15.3 million to settle federal and state class actions filed against it by patients over a 2022 data breach. Shields operates medical imaging and surgical centers in 50 locations across the New …
POSTED MAY 20, 2025 12:35 PM |
Japan’s Big Non-Life Insurers Plan to Sell Cross Shareholdings
Japan’s three major casualty insurers plan to sell a total of about ¥1.37 trillion ($9.5 billion) of cross-held shares in the fiscal year started April in a push to reduce strategic holdings in line with government policy. Tokio Marine Holdings …
POSTED MAY 20, 2025 11:16 AM |
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