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Markets/Coverages: Hub Targets Nonprofits; Ryan Tackles Auto Excess With Axsal; Trisura and HSB Back At-Bay Cyber
Hub Launches Nonprofit Specialty Practice Insurance broker Hub International, with decades of experience in the sector, has launched a nonprofit specialty practice to serve the risk management, insurance and human capital needs of associations, arts and cultural entities, foundations, public …
POSTED MAY 20, 2022 4:02 PM |
Explosion at Wisconsin Marine Construction Company Injures 6
A huge fire set off by an explosion burned Thursday at a marine construction company in southeast Wisconsin. Three civilians and three firefighters were injured at Summerset Marine Construction in the small Waukesha County community of Eagle, about 35 miles …
POSTED MAY 20, 2022 3:50 PM |
Minneapolis to Pay $1.5M to Man Arrested During George Floyd Protest
Minneapolis has agreed to pay $1.5 million to a man who said police used excessive force when he was arrested during the protests that followed George Floyd’s death in 2020, according to court documents filed Tuesday. Jaleel Stallings, 29, also …
POSTED MAY 20, 2022 3:45 PM |
St. Louis Assistant Chief to Receive $162,000 in Discrimination Settlement
The city of St. Louis will pay a St. Louis assistant police chief nearly $162,000 to settle his federal discrimination lawsuit in which he alleged he was passed over for the city’s top police job because he is white. Lt. …
POSTED MAY 20, 2022 3:43 PM |
Family Dollar Closing Arkansas Distribution Center Following Rodent Lawsuit
Family Dollar is closing an Arkansas distribution facility where more than 1,000 rodents were found earlier this year, forcing the recall of items from hundreds of stores, the company said Wednesday. The company said it plans to close the facility …
POSTED MAY 20, 2022 3:37 PM |
Insurance Technology: Zurich’s FieldView Simplifies Crop Reporting; Kinetic Adds ‘Jump Detection’ to Wearables; Beat Capital to Launch MGAs Using OneShield
Zurich’s Climate FieldView Expands Precision Crop Information for RCIS Zurich North America crop insurance business – Rural Community Insurance Services (RCIS) – has added Climate FieldView to its list of precision agriculture providers available to RCIS customers. FieldView enables farmers …
POSTED MAY 20, 2022 3:27 PM |
Two of Central Kentucky’s Oldest Agencies Merge
Two of the oldest insurance agencies in Central Kentucky have merged. Rightmyer Insurance Agency in Danville, founded in the 1930s, has joined forces with Sam Dexter Insurance Agency, which began in 1954, according to a local news report. The two …
POSTED MAY 20, 2022 2:04 PM |
Explosion at Maryland Nail Salon Injured 7 Including First Responders
Seven people, including police officers and EMS personnel, were injured in an explosion at a Maryland nail salon on Monday night, officials said. Baltimore County police officers responded to a disturbance at a Woodlawn nail salon and encountered a person …
POSTED MAY 20, 2022 1:32 PM |
Markets/Coverages: Maryland’s Residual Insurer Ups Limits for Commercial Drivers
Maryland’s auto insurance market for drivers that private insurers won’t cover has received approval to offer combined single limits coverage up to $1 million for eligible businesses and vehicles. Maryland Auto Insurance (MAI) says many contracts, particularly governmental contracts, require …
POSTED MAY 20, 2022 1:27 PM |
Arson Probe After 14 Homes Being Built in Arizona Destroyed
Authorities in the Tucson suburb of Marana, Arizona, are investigating whether a fire that destroyed 14 homes under construction homes was arson. Marana police officials said the fire started last week. By the time crews from the Northwest Fire District …
POSTED MAY 20, 2022 1:25 PM |
Hawaii Hurricane Season Forecasted to be Slow With La Nina
Hawaii and the Central Pacific basin should expect two to four hurricanes, tropical depressions or tropical storms this year, federal forecasters said. The annual National Oceanic and Atmospheric Administration outlook predicts there is a 60% chance of a below-average season. …
POSTED MAY 20, 2022 1:23 PM |
Pharmacy Owners Sentenced in ‘Astonishing’ $174M Cream Scheme
A federal judge in Tennessee has sentenced two Florida men to prison after they were found guilty of an extensive telemedicine fraud that convinced pharmacy benefits managers ExpressScripts, CVS Caremark, Optum and others to authorize millions of dollars in compounded …
POSTED MAY 20, 2022 1:08 PM |
Mental Telehealth CEO Ousted as U.S. Probes Prescription Practices
Cerebral Inc. directors voted to oust the mental telehealth giant’s founder and chief executive officer, Kyle Robertson, on Wednesday, as the booming industry draws scrutiny from federal law enforcement and patient advocates. Robertson had built Cerebral into a $4.8 billion …
POSTED MAY 20, 2022 1:04 PM |
Republicans Have a New Enemy No. 1: ESG Investing
Heading into the hotly contested midterm elections, the American political right has a new rallying cry: Down with ESG. Conservatives have identified the popular investing strategy, which accounts for environmental, social and governance risks, as part of a broader narrative …
POSTED MAY 20, 2022 12:22 PM |
Insurers Too Late for Subrogation in Auto Parts Price-Fixing Case, Court Rules
Insurers waited too long to intervene in anti-trust litigation that brought settlements requiring dozens of auto parts manufacturers to pay a total of $1.2 billion to resolve price-fixing allegations, a panel of the U.S. 6th Circuit Court of Appeal ruled …
POSTED MAY 20, 2022 7:01 AM |
Chiropractic Care Linked to Lower Injured Workers’ Costs, Faster Return to Work
Chiropractors are involved in only a small fraction of workers’ compensation claims for low back pain in states where insurers or employers control the choice of medical provider, but a report released this week suggests that skepticism about runaway costs …
POSTED MAY 20, 2022 6:49 AM |
Livestream Tech Firms Learn Hard Lessons from Violent Videos Tied to Mass Killings
These days, mass shooters like the one now held in the Buffalo, New York, supermarket attack don’t stop with planning out their brutal attacks. They also create marketing plans while arranging to livestream their massacres on social platforms in hopes …
POSTED MAY 20, 2022 6:47 AM |
Texas AG Lawsuit Claims Google ‘Private Browsing’ Mode Not Really Private
The Google search engine collects data on users who think they can be anonymous if they use a “private browsing” mode, Texas Attorney General Ken Paxton claimed on Thursday, filing an amended privacy lawsuit against the Alphabet Inc. unit. Texas, …
POSTED MAY 20, 2022 6:44 AM |
People Moves: NFP Names New Exec Team in Canada; Acrisure Re Hires WTW’s Ainsby to Lead New Asia Fac Unit; Howden Sweden Taps WTW’s Gustafsson as CEO
This edition of International People Moves details appointments at three brokers: NFP, Acrisure Re and Howden Sweden. A summary of these new hires follows here. NFP Names New Exec Team in Canada NFP, the New York City-based property/casualty insurance broker …
POSTED MAY 20, 2022 9:53 AM |
Japan Approves Plan to Release Wastewater From Fukushima Nuclear Power Plant
TOKYO (AP) – Japan’s nuclear regulator on Wednesday approved plans by the operator of the wrecked Fukushima nuclear plant to release its treated radioactive wastewater into the sea next year, saying the outlined methods are safe and risks to the …
POSTED MAY 20, 2022 9:11 AM |
Financial Risks of Climate Change Are Exaggerated: Senior HSBC Banker
Central bank policymakers and other global authorities are exaggerating the financial risks of climate change, a senior HSBC banker in charge of sustainable investments said in remarks that drew criticism from climate activists. The bank said his views did not …
POSTED MAY 20, 2022 8:50 AM |
Pollution Kills 9 Million People a Year, Mostly in Poorer Nations
Premature deaths from common pollution sources have risen by two-thirds globally since 2000, a dark consequence of the economic development that has lifted millions from extreme poverty this century. More than 90% of the deaths have occurred in rapidly developing …
POSTED MAY 20, 2022 8:40 AM |
Charges of Violence, Bullying Follow Mass Employee Exodus at Calgary Oil Firm
When two-thirds of the brokers at a prominent Calgary oil firm quit without explanation around the Easter weekend, the exodus chilled Canada’s oil market. Now, a lawsuit filed against the firm, NE2 Group, purports to offer a window into life …
POSTED MAY 20, 2022 6:15 AM |
Zurich Insurance to Sell Russian Business to Local Team
Zurich Insurance has agreed to sell its Russian business to members of the local team, it said on Friday, as the Swiss insurer became the latest Western firm to exit Russia. It joins a list of companies that have quit …
POSTED MAY 20, 2022 5:49 AM |
Florida Appeals Court Slashes $600,000 Attorney Fee on $52,000 Claim
Florida may have one of the most generous attorney-fee mechanisms in the country, sometimes resulting in plaintiff’s fees that are several times greater than the amount of damage awards. It’s enough to drive property insurers crazy – or toward the …
POSTED MAY 20, 2022 5:01 AM |
Business Insurance
Wells Fargo Advisors fined for anti-money laundering lapses
The U.S. Securities and Exchange commission on Friday said Wells Fargo Advisors had agreed to pay $7 million to settle charges of anti-money laundering-related violations.
POSTED MAY 20, 2022 2:18 PM |
Cincinnati wins COVID-related ruling against recreational park
A federal appeals court on Friday ruled against a recreational park in COVID-19-related business interruption litigation filed against Cincinnati Insurance Co.
POSTED MAY 20, 2022 2:15 PM |
Court puts sales ban on Ford's internet-linked cars in patent dispute
A German court has put a nationwide sales and production ban on Ford cars able to establish internet connection, it said, as part of a lawsuit over the violation of wireless technology patents.
POSTED MAY 20, 2022 2:03 PM |
3M ordered to pay $77.5M to veteran in latest earplug trial
A jury in a federal court in Pensacola, Florida, on Friday ordered 3M Co. to pay $77.5 million to a U.S. Army veteran who said he suffered hearing damage as a result of using the company's military-issue earplugs.
POSTED MAY 20, 2022 1:44 PM |
Accretive hires executive VP, wholesale
Accretive Insurance Solutions, AssuredPartners Inc.’s specialty wholesale and program administration company, said Friday it has named former ECC Insurance Brokers LLC executive Rob Roth as executive vice president of wholesale.
POSTED MAY 20, 2022 12:46 PM |
Nothing to like about latest Facebook scam
The Better Business Bureau is warning consumers of the latest Facebook scam: one of your friends sends you a message stating they saw your name on a list of people who have thousands of dollars in unclaimed workers compensation.
POSTED MAY 20, 2022 12:08 PM |
Google 'private browsing' mode not really private: Texas suit
The Google search engine collects data on users who think they can be anonymous if they use a "private browsing" mode, Texas Attorney General Ken Paxton claimed on Thursday, filing an amended privacy lawsuit against the Alphabet Inc. unit.
POSTED MAY 20, 2022 11:35 AM |
Putin promises to bolster Russia's IT security in face of cyberattacks
President Vladimir Putin said on Friday that the number of cyberattacks on Russia by foreign "state structures" had increased several times over and that Russia must bolster its cyber defenses by reducing the use of foreign software and hardware.
POSTED MAY 20, 2022 11:27 AM |
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