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News – Insurance Journal

Investors Sue Lyft, Alleging IPO ‘Overhyped’
Lyft Inc. was sued by investors who claim the ride-sharing company overstated its market position when it went public last month, leading to a dramatic plunge in its stock price. Two separate class-action complaints against Lyft, as well as its …

POSTED APRIL 18, 2019 12:31 PM
Tsunami-Wrecked Fukushima Nuclear Plant Begins Fuel Removal in Melted Reactor
The operator of the tsunami-wrecked Fukushima nuclear plant began removing fuel Monday [April 15] from a cooling pool at one of three reactors that melted down in the 2011 disaster, a milestone in what will be a decades-long process to …

POSTED APRIL 18, 2019 12:25 PM
Driving in Georgia While Sitting in California; Remote Control Beats Autonomy
For four days in February, Ben Shukman showed up to his office at Phantom Auto in Mountain View, California, sat down in front of a bank of computer screens with a steering wheel in a darkened room, and began driving. …

POSTED APRIL 18, 2019 12:23 PM
Munich Re Syndicate Singapore Partners with Lloyd’s Coverholder Nectar Specialty Risk
Munich Re Syndicate Singapore (MRSS) has formed a partnership with Nectar Specialty Risk Pte Ltd. (Nectar), a Singapore incorporated limited liability company and Lloyd’s coverholder that provides tailor-made re/insurance solutions. Nectar’s professional line products are offered under the trading name …

POSTED APRIL 18, 2019 11:29 AM
New York Contractors Arrested in Workers’ Compensation Fraud Scheme
Two New York state contractors were arrested on charges they filed fraudulent applications for a roofing project in Amsterdam, N.Y., as part of a workers’ compensation fraud scheme. Jose A. Sanchez, owner of Sanchez Partners Construction, was charged with offering …

POSTED APRIL 18, 2019 10:53 AM
Vermont Officials Assess Spring Flood Damage
Vermont state and local officials are assessing damage from flooding caused by heavy rains and snowmelt that led to road closures, some evacuations and a rescue from a flooded parking lot. Some roads remained closed Tuesday, but most of the …

POSTED APRIL 18, 2019 10:12 AM
Some Connecticut Condo Associations Can Seek Crumbling Foundation Help
Some Connecticut condominium associations with crumbling foundations can seek financial help from the captive insurance company that’s been helping owners of stand-alone homes. Michael Maglaras, superintendent of the Connecticut Foundation Solutions Indemnity Company Inc., announced Monday that associations can apply …

POSTED APRIL 18, 2019 10:02 AM
New Crop of Satellites Will Identify Biggest Contributors to Climate Change
A wave of satellites set to orbit the Earth will be able to pinpoint producers of greenhouse gases, right down to an individual leak at an oil rig. More than a dozen governments and companies have or are planning to …

POSTED APRIL 18, 2019 9:57 AM
Canopius Signs Agreement to Purchase AmTrust at Lloyd’s
Canopius AG announced it has signed a definitive sale and purchase agreement to purchase AmTrust at Lloyd’s, a division of AmTrust Financial, subject to regulatory approval. Upon completion, which is expected in Q3 2019, the deal will result in the …

POSTED APRIL 18, 2019 9:26 AM
Everest Insurance Ireland Opens UK Branch
Everest Insurance Ireland, dac (EIID), a part of the Everest Insurance international platform, has opened a branch office in the United Kingdom. EIID was established in 2017 and is led by CEO Linda Ryan, who manages the strategy and operational …

POSTED APRIL 18, 2019 8:17 AM

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