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News – Insurance Journal

Federal Safety Agency Shuts Down Self-Driving School Bus Test
The National Highway Traffic Safety Administration on Monday said it had ordered Transdev North America to immediately stop transporting school children in Florida in a driverless shuttle, as the testing could be putting them at “inappropriate” risk. Transdev’s use of …

POSTED OCTOBER 23, 2018 12:17 PM
Generali to Acquire Polish Asset Management Firm, Union Investment TFI in
Generali has entered into an agreement with the German Group Union Asset Management Holding AG to acquire a 100 percent stake in the Polish asset management company Union Investment TFI S.A. Financial details of the acquisition were not revealed. The …

POSTED OCTOBER 23, 2018 7:54 AM
Coordinated Global Regulation of Cryptocurrencies Needed: Circle CEO
Major economies should launch coordinated regulation of cryptocurrencies, the head of Goldman Sachs-backed startup Circle said on Monday, underscoring growing industry support for international rules on digital money. “Ultimately there needs to be normalization at the G20 level of critical …

POSTED OCTOBER 23, 2018 7:37 AM
At Least 30 Injured When Floor Collapses at South Carolina Condo Clubhouse
The floor of a condominium clubhouse near Clemson University collapsed during a large private party early Sunday, hurtling dozens of people into the basement, authorities said. About 30 people were taken to local hospitals after the center of the floor …

POSTED OCTOBER 23, 2018 6:42 AM
Honeywell Facing SEC Probe Over Asbestos Liabilities Reporting
Honeywell International Inc. said on Friday the U.S. Securities and Exchange Commission had opened an investigation into its accounting for asbestos-related liabilities. The industrial conglomerate’s revised estimate for asbestos-related liabilities was $2.61 billion as of end-2017, some $1.09 billion higher …

POSTED OCTOBER 23, 2018 5:00 AM
Verisk Product Scores Properties on Flood Risk; Could Replace Outdated Flood Maps
Data analytics firm Verisk is touting the launch of WaterLine, an underwriting tool that scores flood risk for all properties in the contiguous United States, helping identify homes and businesses vulnerable to flood. The product scores properties on a 0-to-100 …

POSTED OCTOBER 23, 2018 5:00 AM
A.M. Best Upgrades Workers’ Comp Carrier ICW Group in California
A.M. Best Company has upgraded the Financial Strength Rating of San Diego, Calif.-based ICW Group Insurance Cos. to “A” (Excellent) from a “Stable” outlook. A.M. Best said its ratings reflect the company’s balance sheet strength as well as its solid …

POSTED OCTOBER 23, 2018 5:00 AM
Judge Upholds Bayer/Monsanto Roundup Cancer Liability But Slashes Award
Bayer AG failed to persuade a California state judge to set aside a jury’s verdict in the first trial over allegations that its Roundup weed killer causes cancer, but the judge said damages should be slashed to $78.6 million from …

POSTED OCTOBER 23, 2018 5:00 AM
Parents of Florida College Student Killed by Garbage Truck Awarded $25M
Jurors have awarded $25 million to the parents of a University of Florida student who was run over and killed by a garbage truck near campus. The Gainesville Sun reports that an Alachua County jury awarded $12.5 million each on …

POSTED OCTOBER 23, 2018 4:22 AM
Georgia Estimates $250M in Insured Losses from Hurricane Michael
The Georgia Department of Insurance has estimated insured property losses from Hurricane Michael will reach $250 million, according to a statement Georgia Insurance Commissioner Ralph Hudgens. In figures released Oct. 18, GADOI said more than 35,000 property-related claims were expected. …

POSTED OCTOBER 23, 2018 4:06 AM

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