News
PG&E Pledges $18 Billion to Cut Wildfire Risk in California
PG&E Corp. plans to invest $18 billion in wildfire prevention through 2025 following back-to-back seasons of devastating blazes linked to the utility's network of wires and other ...
Chocolate Factory Blast Highlights Combustion Risks
Last week's fatal blast at a Pennsylvania chocolate factory highlighted the combustibility of food plants in general and chocolate making in particular. The powerful explosion last Friday at R.M. ...
Boy Scouts of America Bankruptcy Plan Upheld Despite Insurers’ Objections
A federal judge on March 28 denied an appeal, largely made by insurers, to strike down the Boy Scouts of America's nearly $2.5 billion reorganization plan approved last year to allow the organization ...
Supercell Storms to Hit South More Often: Study
America will probably get more killer tornado- and hail-spawning supercells as the world warms, according to a new study that also warns the lethal storms will edge eastward to strike more frequently ...
First Citizens Bank to Acquire Most of Collapsed Silicon Valley Bank
North Carolina-based First Citizens Bank, which also offers property and other types of insurance, will acquire much of Silicon Valley Bank, the tech-focused financial institution that collapsed this ...
GEICO Faces Class Action for Allegedly Underpaying Auto Claims
GEICO General Insurance Co. must face a class action suit alleging that it has been underpaying benefits to its insureds injured in automobile accidents. U.S. District Court Judge Dora L. Irizarry in ...
Climate Activists Tell Insurance CEOs to Stop Covering Carbon Projects ‘Immediately’
A group of climate activists has called on 30 insurance company CEOs to "immediately" stop underwriting new fossil fuel projects in the wake of a stark climate warning from UN scientists, a letter ...
APCIA Says Property Insurance Market ‘Hardest in a Generation’
A combination of historic high inflation and a growing frequency of natural catastrophes is creating the hardest market in a generation for property insurance, the American Property and Casualty ...