The U.S. food supply, battered by a series of recalls after millions were sickened, moved a step closer toward its first major safety overhaul in seven decades following a key vote in Congress Wednesday. The Senate voted 74-25 to limit …
U.S. regulators warned makers of caffeinated alcoholic drinks that their products are unsafe and violate federal laws, following a public outcry and several state bans. The U.S. Food and Drug Administration sent warning letters Wednesday to four firms — Phusion …
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) announced that it has completed insurance payments to the Governments of Barbados, Saint Lucia and St. Vincent & the Grenadines following the passage of Tropical Cyclone Tomas which passed close to these islands …
A.M. Best Co. has affirmed the financial strength rating of ‘A ‘(Excellent) and issuer credit rating of “a+” of Japan’s Aioi Nissay Dowa Insurance Company Limited, both with stable outlooks. The ratings reflect Aioi Nissay Dowa’s strong risk-adjusted capital position …
Claimants to BP Plc’s $20 billion oil spill fund may soon be required to transfer to the company their right to sue other defendants, a move that could help BP’s efforts to collect billions of dollars from its business partners. …
While offering great promise in a host of new applications, carbon nanotubes (CNTs) could be harmful to humans and a new University of California at Berkeley risk review suggests that product designers and others should provisionally treat CNTs “as if” …
The U.S. Securities and Exchange Commission is asking for better disclosure from companies on potential costs of lawsuits and other contingencies, an official of the agency said on Tuesday. “We see companies having pages and pages of information but saying …
Mistakes and unavoidable problems kill an estimated 15,000 elderly U.S. patients every month in hospitals, U.S. government investigators reported Tuesday. More than 13 percent of patients covered by Medicare, the government health insurance for the elderly, or about 134,000 people …
For many years it has been generally understood by agents, insurers and insureds that Certificates of Insurance are very limited in their purpose. That view may be under assault in Texas. Generally, a Certificate of Insurance is a summary document …
A Harris County, Texas, jury has rendered a $30 million verdict against the Houston-based owner of SunMart convenience stores, according to the Texas Attorney General’s Office. In July 2008, Attorney General Greg Abbott charged Petroleum Wholesale L.P. (PWI) with defrauding …