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Lindeboom Retires as Co-Managing Director of THB Europe, Succeeded by Borges
THB, the London-based specialist insurance and reinsurance broker, announced new leadership at THB European Division, based in Amsterdam. Paul Lindeboom, co-managing director of the division, will retire as planned from his post on July 31. Ricardo Borges, director at THB, …

POSTED JULY 18, 2018 8:51 AM
Some Recreational Cannabis Products to Remain Banned Under New Canada Law
A key segment of Canada’s marijuana industry will remain banned for up to a year after the drug becomes legal for recreational use — making it harder for Justin Trudeau to kill off the black market. Edibles, beverages, and pot …

POSTED JULY 18, 2018 8:34 AM
Reinsurers, Insurtech Startups Increasingly Seek Mutually Beneficial Partnerships
Reinsurance companies increasingly are funding insurtech startups in order to structure more innovative products and improve their business efficiencies, but how much impact on the industry will these investments have? There are a number of reasons reinsurers are getting involved …

POSTED JULY 18, 2018 8:15 AM
MGM Files Suit to Limit Liability for Las Vegas Shooting
MGM Resorts International sued the victims of a Las Vegas music festival mass shooting in an effort to block any potential compensation claims against it. The owner of the Mandalay Bay hotel claims a 2002 federal statute wipes out liability …

POSTED JULY 18, 2018 5:00 AM
U.S. Labor Judge Nixes McDonald’s Deal to Avoid Joint Employer Tag
A judge with a U.S. labor agency on Tuesday rejected McDonald’s Corp.’s proposed settlement of a major case on whether the fast-food company is accountable for alleged labor law violations by franchisees across the country. The settlement proposed in March …

POSTED JULY 18, 2018 5:00 AM
Ford to Pay Consumers $299 Million to Settle Takata Airbag Lawsuit
Ford Motor Co. has agreed to pay $299.1 million to settle consumers’ economic-loss claims connected to Takata Corp. air-bag recalls. The settlement, filed in federal court in Miami Monday, reimburses consumers for out-of-pocket expenses and provides free loaners for owners …

POSTED JULY 18, 2018 5:00 AM
Washington Asbestos Removal Company Fined $229K for Unsafe Conditions
An Edmonds, Wash.-based asbestos removal contractor has been cited by the Washington Department of Labor & Industries for multiple willful safety violations for improper handling of asbestos. Along with the citations, the company faces fines totaling $229,700. L&I has cited …

POSTED JULY 17, 2018 6:32 PM
Mueller Industries Settles Disability Discrimination Suit in California for $1M
The U.S. Equal Employment Opportunity Commission has settled a disability discrimination lawsuit in California against a global metal goods manufacturer Mueller Industries Inc. for $1 million and other injunctive relief. According to the EEOC, Memphis, Tenn.-based Mueller violated federal law …

POSTED JULY 17, 2018 6:26 PM
Oklahoma City Spending to Improve Traffic Issues, Prepping for Self-Driving Cars
A city in central Oklahoma is spending millions of dollars preparing for self-driving cars while working to alleviate traffic problems. Edmond Traffic Engineer Tom Minnick told The Oklahoman that the city is laying down infrastructure for autonomous vehicles. The $5 …

POSTED JULY 17, 2018 6:18 PM
Loss Estimate for Europe’s Storm Friederike (aka DAVID) Rises to €1.7B ($2.0B): PERILS
The third insured loss estimate for extratropical Cyclone Friederike, also known as “David,” has risen to €1.675 billion ($2.0 billion), according to PERILS, the independent Zurich-based organisation that provides industry-wide catastrophe insurance data. PERILS’ third estimate of the insured property …

POSTED JULY 17, 2018 4:46 PM

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