SouthEast Bank has launched a new affiliate, SouthEast Insurance Services, to provide property, vehicle, personal, and business insurance – including specialty products, such as pet and wedding insurance.
The Knoxville-based bank, which expanded to downtown Chattanooga in January with a branch in Liberty Tower, said the new insurance brokerage company will allow customers to shop multiple well-known regional and national insurance carriers for the best price. Southeast Insurance Services is staffed by fully-licensed insurance agents who will offer o shop multiple carriers at once.
“We are excited to offer affordable insurance to the communities we serve. Our goal has always been to provide services that assist individuals and families in reaching their goals,” SouthEast Bank President Monty Montgomery said. “The addition of SouthEast Insurance Services gives customers the ability to shop around their insurance costs without leaving the comfort of their home and, hopefully, save some money.”
MGM Resorts sells Las Vegas casinos
MGM Resorts International announced the sale Tuesday of two casinos that will significantly alter its portfolio of Las Vegas Strip properties and offer up cash.
The Las Vegas-based company said it is selling the Circus Circus hotel-casino for $825 million to Treasure Island casino owner Phil Ruffin. The company also sold the Bellagio for $4.25 billion.
MGM and the Blackstone investment group are forming a joint venture that is purchasing the Bellagio and leasing it back to an MGM subsidiary for $245 million annually.
MGM Resorts will get a 5% ownership stake in the joint venture and about $4.2 billion in cash. Both deals are expected to close by the end of the year.
Judge rejects ban of flavored e-cigarettes
A Michigan judge on Tuesday blocked the state’s weeks-old ban on flavored e-cigarettes, citing evidence that adults could return to smoking more harmful than tobacco products.
Court of Claims Judge Cynthia Stephens also said Gov. Gretchen Whitmer’s administration’s delay in implementing the prohibition undercut its position that emergency rules were justified.
The lawsuit was filed by vaping businesses that said the ban, which took effect Oct. 2, will force them to close. The judge issued a preliminary injunction to stop the state from enforcing the rules.
Michigan, New York and Rhode Island have recently banned flavored vaping products in response to an explosion in teen vaping in recent years. President Donald Trump said last month that the federal government would act to prohibit thousands of flavors used in e-cigarettes because they appeal to underage users.
Court overturns verdict against J&J
A Missouri appeals court has overturned a $110 million verdict in a case alleging that Johnson & Johnson products containing talcum powder caused a Virginia woman’s ovarian cancer.
The appeals court ruling Tuesday reversed a 2017 judgment on behalf of Lois Slemp. She is among many women whose lawsuits have claimed that Johnson & Johnson’s talcum powder contributed to their cancer.
Johnson & Johnson says its Baby Powder is safe and does not cause cancer.
The appeals court ruling says that the St. Louis court where the case was heard lacked jurisdiction, noting that talc products used by Slemp were made in Georgia and purchased and used in Virginia.