Sponsored content from Thomas J. Henry Law Published 2:26 pm CDT, Wednesday, September 11, 2019 Photo: Gettyimages Photo: Gettyimages Image 1 of / 1 Caption Close Image 1 of 1 Photo: Gettyimages Can I Get Workers' Compensation for Heat-Related Illness? 1 / 1 Back to Gallery Workers’ compensation is an insurance policy that employers in Texas must purchase to protect their employees. When an employee suffers an injury or becomes sick on the job, he or she is eligible to file for workers’ compensation to receive benefits from their employer while they are out of work. Here is what is covered under workers’ compensation and if a heat-related illness will be covered. … [Read more...] about Can I Get Workers’ Compensation for Heat-Related Illness?
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LAS VEGAS — More than 4,000 people are seeking damages from MGM Resorts International related to the Las Vegas Strip mass shooting that left 58 people dead, the casino giant said in a lawsuit alleging its insurance company has failed to pay promised legal costs. Las Vegas-based MGM Resorts alleges breach-of-contract and accuses Illinois-based Zurich American Insurance Co. of failing to pay defense costs for damage claims stemming from the 2017 shooting. MGM Resorts owns the Mandalay Bay hotel, where the shooter opened fire from a 32nd-floor window, and the Route 91 Harvest festival venue where country music concert-goers died and more than 850 people were injured. Company spokesman Brian Ahern told the Las Vegas Review-Journal the lawsuit filed Wednesday in U.S. District Court in Las Vegas is about legal costs, not about coverage for a potential settlement with victims. Zurich American didn't immediately comment to the newspaper. MGM Resorts has been in mediation with plaintiffs, … [Read more...] about Hotel owner sues insurance company after Vegas mass shooting
Argo Group International Holdings is firing back at a San Francisco activist hedge fund waging a proxy fight against the specialty insurer. In a letter to shareholders today, Bermuda-based Argo’s board asked for their support “to prevent the short-term interests” of Voce Capital Management from “disrupting the steady growth and superior shareholder returns” the insurer — which has its U.S. headquarters in San Antonio — has generated. Voce has nominated five candidates to serve on the board of the publicly traded Argo, agitating for change to “rein in management and eradicate (a) wasteful, spendthrift culture.” Voce, a small hedge fund with about $250 million in assets, is Argo’s fourth-largest shareholder. Voce holds 1.9 million shares, or a 5.6 percent stake, valued at more than $139 million based on its trading price of $73.21 in early trading today. On ExpressNews.com: Voce makes big bet on forcing change at Argo … [Read more...] about Specialty insurer Argo fires back at activist hedge fund
MEMPHIS, Tenn. (AP) — An insurance company is suing a business whose chief executive was flying a plane that crashed in Georgia, killing him and three passengers. Federal court records show Zurich American Insurance Co. of Illinois is suing Sunshine International Corp. in relation to a plane crash that killed pilot Wei Chen and three business associates in Atlanta in December. Chen was a Memphis resident and CEO of Sunshine, which distributes Chinese construction and industrial equipment. Zurich claims Sunshine answered "no" when asked if it owned or operated aircraft on a workers' compensation coverage application. The lawsuit claims a Sunshine subsidiary, Chen Aircraft, owned the plane. Zurich wants the court to decide if the application is void and whether another insurance company that helped Sunshine with its application is actually liable for claims. … [Read more...] about Insurance company files suit in deadly Georgia plane crash
Compensation fell for some top executives at USAA last year, the third straight year it reported more than $2 billion in catastrophe-related insurance claims. CEO and President Stuart Parker received about $4.2 million in total compensation from five USAA insurance companies last year. That was about $286,000, or 6 percent, less than the roughly $4.5 million he received in 2017, according to figures reported to the Nebraska Department of Insurance last week. Last year, the San Antonio insurance and financial-services giant paid a torrent of claims resulting from two hurricanes, other powerful storms and deadly wildfires, cutting into its bottom line. The company doesn’t disclose total compensation for its executive team since it’s a private company. Nebraska, however, requires insurers to report executive compensation for companies that do business in the state, providing a partial look at USAA’s executive pay. Parker and some other executives also may receive pay … [Read more...] about Executive pay falls at USAA insurance companies