Patricia Wells

A jury in North Dakota has ruled that Greenpeace is liable for defamation and conspiracy related to its protests against the Dakota Access pipeline. The jury awarded Energy Transfer LP, the company behind the pipeline, a staggering $660 million in damages. This verdict, reached earlier this week, has raised concerns among legal experts about its … Read more

Young insurance agents are being invited to share their thoughts in the 2025 Young Insurance Agents Opinion Survey, organized by Insurance Journal. If you are 40 years old or younger and work in the insurance industry, your insights are valuable. The survey aims to gather opinions on the industry, agency experiences, and what young agents … Read more

Delaware lawmakers are gearing up to vote on a significant change to the state’s corporate law next week. This move aims to maintain Delaware’s reputation as a business-friendly state, but critics argue that it mainly benefits wealthy shareholders. The proposed legislation makes it tougher for investors to sue over specific transactions involving controlling shareholders. For … Read more

The insurance industry is facing a significant talent shortage, creating challenges for independent agents. The Bureau of Labor Statistics predicts a 5% drop in claims professionals and around 21,500 job openings each year for the next decade. This situation makes it tough for smaller, community-focused agencies to compete with larger firms, especially when they have … Read more

Wall Street brokers are now selling claims from insurers related to the deadly wildfires in Los Angeles. These claims may lead to payouts from the utilities that are being held responsible for the destruction. Investors are purchasing what are called subrogation claims, which give them the right to seek compensation from utility companies if they … Read more

Tesla is recalling nearly all Cybertrucks in the U.S. due to a potential safety issue. The company announced this recall on Thursday, affecting over 46,000 vehicles made between November 2023 and February 27, 2024. This marks the eighth recall for the Cybertruck since January of this year. The recall is necessary because an exterior stainless-steel … Read more

The U.S. Chemical Safety and Hazard Investigation Board (CSB) is looking into a tragic incident that took place at the PEMEX Deer Park Refinery in Texas on October 10, 2024. During the event, two contract workers lost their lives due to a release of hydrogen sulfide gas, a highly toxic substance. On that day, maintenance … Read more

Greenpeace has been ordered to pay over $660 million to Energy Transfer Partners LP after a jury found the environmental group liable for defamation and conspiracy related to protests against the Dakota Access pipeline. This ruling came from a North Dakota court, where the jury decided that Greenpeace’s actions during the protests nearly a decade … Read more

Munich Re has announced its acquisition of Next Insurance, a digital insurance company that will join its primary insurance business, Ergo. The deal values Next Insurance at $2.6 billion. Notably, Ergo already held nearly 30% of Next Insurance’s shares, and Munich Re was an early investor in the company. The acquisition is set to close … Read more

RiverStone International has made a significant move by signing a deal with Pacific Valley Insurance Co., a subsidiary of Lyft. This agreement involves a loss portfolio transfer reinsurance for a commercial auto liability portfolio. The deal will take effect on January 1, 2025. Guy Carpenter acted as the broker for this transaction. RiverStone International is … Read more