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News

Insurance Journal delivers the latest business news for the Property/Casualty insurance industry
  1. The Federal Aviation Administration (FAA) agreed to pay $90,000 to an aviation safety inspector who faced retaliation for raising concerns about unqualified flight safety inspectors, a U.S. agency said Monday. The U.S. Office of Special Counsel (OSC) said the whistleblower …
  2. The cost of insuring against sovereign debt defaults by Gulf Arab states has risen in recent days as markets price the risk the coronavirus outbreak represents for the crude export-dependent region. Conventional spreads on the five-year credit default swaps (CDS) …
  3. Iran’s coronavirus death toll rose to 16 on Tuesday, the most outside China, heightening its international isolation as dozens of worst-hit nations from South Korea to Italy accelerated emergency measures to curb the epidemic’s global spread. Believed to come from …
  4. The Environmental Protection Agency on Thursday announced it was awarding Virginia over $700,000 in grant funding to assist with identifying sources of lead in drinking water in schools and child care facilities. The $737,000 will go to the Department of …
  5. A federal appeals court in New York gave its approval Thursday to a $6.7 million award for nearly two dozen graffiti artists whose spray paintings at a once-famous site that attracted thousands of spectators were destroyed to make room for …
  6. The Vermont House has given preliminary approval to legislation that sets requirements and deadlines for reducing greenhouse gas emissions in the state. The so-called Global Warming Solutions Act was up for final approval on Friday. The bill would require that …
  7. Parts of Indonesian capital and its suburbs were flooded after two tropical cyclones off the nation’s coast triggered heavy rainfall overnight, inundating houses in low-lying areas and causing a power outage. More than 80 spots of flooding were reported in …
  8. Arch Capital Group Ltd. has entered into a share purchase agreement with Natixis regarding the acquisition of a 29.5% stake in Coface, a France-based trade credit insurer. The transaction will be completed at a price of €10.70 per share, corresponding …