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CFPB Sues Walmart, Scheduling Platform for Alleged Illegal Pay Practices for Gig Drivers

Insurance Journal

The Consumer Financial Protection Bureau has sued Walmart and work scheduling platform Branch Messenger for allegedly forcing delivery drivers that are part of the discounter’s gig program to use costly deposit accounts to get paid and misprese...

Posted: Jan 06, 2025

Drivers Skid and Crash as Wintry Mix Blasts Central US

Insurance Journal

Road conditions were deteriorating over the weekend in the central U.S. as a winter storm brought a mix of snow, ice and plunging temperatures, with forecasts calling for the dreaded combo to spread eastward in the coming days. “Winter returned...

Posted: Jan 06, 2025

Efficiency in Motion: Transforming MSK Care with Tech

Risk & Insurance

Digital technologies transform musculoskeletal care by integrating patient data, enhancing communication among providers, and supporting proactive care models. This shift from paper-based processes leads to better patient outcomes and a more effic...

Posted: Jan 06, 2025

Relation Acquires Illinois’ Forest

Insurance Journal

Relation Insurance Services acquired the assets of Forest Insurance Agency. The transaction went into effect on December 1, 2024; terms of the transaction were not disclosed. Specializing in personal and business insurance, Forest is based in Forest...

Posted: Jan 06, 2025

US Workplace Deaths Drop 3.7% in 2023: Department of Labor

Risk & Insurance

Despite overall workplace fatalities declining in 2023, transportation incidents remain the leading cause of job-related deaths, according to new data from the Labor Department's Bureau of Labor Statistics. The post

Posted: Jan 06, 2025

AM Best: Increasing Political, Terror Risk Could Lead to More Demand for Coverage

Insurance Journal

Authorities have said there is no evidence that the truck attack in New Orleans on New Year’s Day was directed by the Islamic State but the incident – as well as the same-day truck explosion outside a hotel in Las …

Posted: Jan 06, 2025

Cybersecurity Threats Lead Business Risk Concerns

Risk & Insurance

New research reveals cybersecurity, technology, and financial risks top executive concerns as businesses navigate complex threat landscape. The post C...

Posted: Jan 06, 2025

Fire in Dallas Shopping Center Kills Hundreds of Animals

Insurance Journal

DALLAS (AP) — A fire that broke out at a shopping center in Dallas on Friday morning killed more than 500 animals, most of which were small birds, authorities said. The 579 animals in the pet shop at Plaza Latina …

Posted: Jan 06, 2025

Clyde & Co Expands Texas Presence With Tillman Batcher Merger

Insurance Journal

Law firm Clyde & Co announced its merger with Dallas law firm Tillman Batchelor LLP. Mark Tillman and Colin Batchelor have joined Clyde & Co’s Dallas office as partners and will be joined by their team of six people. The …

Posted: Jan 06, 2025

Peter Settel to lead Bold Penguin as CEO and President

Reinsurance News

Commercial insurance distribution platform Bold Penguin has appointed Peter Settel as its new Chief Executive Officer (CEO) and President, succeeding outgoing CEO and founder, Ilya Bodner. As per Bold Penguin, Settel holds over twenty-five years o...

Posted: Jan 06, 2025

Global Property Catastrophe Rates-on-Line Down 6.6% During Renewals: Guy Carpenter

Insurance Journal

Guy Carpenter reports that average global and regional property catastrophe rates-on-line decreased during the January 2025 renewals in amounts ranging from 5.3% to 7.2%. Guy Carpenter defines rate on line (ROL) as the cost of reinsurance based on pr...

Posted: Jan 06, 2025

US Steel, Nippon Sue Biden Administration Over Decision to Block Merger

Insurance Journal

U.S. President Joe Biden violated the Constitution by blocking Nippon Steel’s $14.9 billion bid for U.S. Steel through a sham national security review, the companies alleged in a lawsuit they said was filed on Monday. The companies want the fed...

Posted: Jan 06, 2025

Deadly Accident Has Hawaii Officials asking to End Amateur Fireworks Shows

Insurance Journal

In recent years, occasions large and small — parties, Super Bowls, mixed martial arts fights, even Thanksgiving — have provided a reason for residents across Hawaii to set off illegal fireworks. The increasingly sophisticated displays, loved by some...

Posted: Jan 06, 2025

Deadly Accident Has Hawaii Officials Asking to End Amateur Fireworks Shows

Insurance Journal

In recent years, occasions large and small — parties, Super Bowls, mixed martial arts fights, even Thanksgiving — have provided a reason for residents across Hawaii to set off illegal fireworks. The increasingly sophisticated displays, loved by some...

Posted: Jan 06, 2025

Clyde & Co merges with Tillman Batchelor to expand US insurance operations

Reinsurance News

Global law firm Clyde & Co has merged with Dallas-domiciled, law firm Tillman Batchelor LLP, further expanding the company’s North American insurance practice and capabilities in the southwestern US. As part of the merger, Mark Tillman a...

Posted: Jan 06, 2025

Russia-Appointed Officials in Crimea Declare Emergency as Oil Spill Reaches Sevastopol

Insurance Journal

Russia-appointed officials in Moscow-occupied Crimea announced a regional emergency on Saturday, as oil was detected on the shores of Sevastopol, the peninsula’s largest city. Fuel oil spilled out of two storm-stricken tankers nearly three week...

Posted: Jan 06, 2025

Taiwan Says Chinese Ship Broke Subsea Cable in Alleged Sabotage

Insurance Journal

Taiwan suspects a Chinese-owned cargo vessel damaged an undersea cable near its northeastern coast Friday, in an alleged act of sabotage that highlights the vulnerabilities of Taipei’s offshore communications infrastructure. The ship is owned b...

Posted: Jan 06, 2025

The Institutes, Kevelighan Fire Back at Retaliation Claims by Former Triple-I Employee

Insurance Journal

The Institutes and Sean Kevelighan, chief executive of the Insurance Information Institute, deny the allegations of discrimination and retaliation from former employee Michael Barry. According to a filing in U.S. District Court for the Southern Distr...

Posted: Jan 06, 2025

Chubb’s Sara Farrup joins AXIS as Head of Global Markets

Reinsurance News

As part of a previously planned leadership transition, insurer and reinsurer AXIS Capital Holdings Limited has appointed Sara Farrup (nee Mitchell) as Head of Global Markets, reporting to Vince Tizzio, President and Chief Executive Officer, AXIS....

Posted: Jan 06, 2025

Arthur J. Gallagher & Co. Acquires Canadian Broker Encore Group

Insurance Journal

Arthur J. Gallagher & Co., the Rolling Meadows, Illinois-based insurance brokerage, announced the acquisition of Waterloo, Ontario-based Encore Insurance Services Inc., dba Encore Group. Terms of the transaction were not disclosed. Encore Group i...

Posted: Jan 06, 2025

Severe Winter Storm Batters Nation’s Capital and Metro Region

Insurance Journal

The nation’s capital and surrounding areas are experiencing he effects of a severe winter storm as part of a storm that has moved from parts of the Ohio Valley through to the Mid-Atlantic. The storm is producing moderate to heavy …

Posted: Jan 06, 2025

Efficient reinsurance structures key for 1.1 cyber renewals: Gallagher Re

Reinsurance News

As per Gallagher Re’s 1st View report, the cyber renewals at 1.1 2025 focused on securing the most efficient reinsurance structures amid “extremely healthy” levels of capacity from reinsurers and an improved understanding of tail...

Posted: Jan 06, 2025

New NC Governor Issues Orders to Speed Housing Work After Helene

Insurance Journal

ASHEVILLE, N.C. (AP) — New North Carolina Gov. Josh Stein took several actions on Thursday to help the short- and long-term recovery from Hurricane Helene, with an immediate focus on more temporary housing and repairs to private bridges and roads. &#...

Posted: Jan 06, 2025

US Chamber, Oil Firms Sue Vermont for Making Companies Pay for Climate Damage

Insurance Journal

The U.S. Chamber of Commerce and a top oil and gas industry trade group are suing Vermont over its new law requiring that fossil fuel companies pay a share of the damage caused over several decades by climate change. The …

Posted: Jan 06, 2025

Rates-on-line for retro cat XoL fall 10-20% at 1.1 2025, says Howden

Reinsurance News

According to Howden’s 1.1 2025 renewals report, risk-adjusted retrocession catastrophe XoL rates-on-line fell by between 10% and 20% at the January reinsurance renewals, as a result of trapped capital stemming from Hurricane Milton being neg...

Posted: Jan 06, 2025

New York Employers Must Offer Paid Medical Leave During Pregnancy

Insurance Journal

Pregnant New Yorkers will be entitled to at least 20 hours of paid leave to attend prenatal medical appointments under a law that took effect Wednesday. Gov. Kathy Hochul said the policy makes New York the first state in the …

Posted: Jan 06, 2025

Roamly expands reinsurance partnerships to drive growth and innovation

Reinsurance News

Roamly has expanded its reinsurance partnerships to include SiriusPoint, Spinnaker, Apollo, ICW, Vantage, and Ladder Re. Roamly is a global digital insurance technology company offering AI-powered solutions that help insurers develop products, str...

Posted: Jan 06, 2025

Ghosts of Grenfell Disaster: No Penalties for UK Firms That Used Flammable Cladding

Insurance Journal

When the deadly Grenfell Tower blaze in 2017 led to revelations that high-rise public housing buildings across Britain were wrapped in flammable cladding, the government vowed the building contractors responsible would pay for their negligence. Seven...

Posted: Jan 06, 2025

One in Four UK Firms Cut Jobs After Reeves Budget, PMI Shows

Insurance Journal

Almost one in four British businesses cut jobs in December amid widespread pessimism over the squeeze on their finances from Labour’s tax-raising budget. S&P Global’s purchasing managers’ index confirmed that the private sector...

Posted: Jan 06, 2025

Everest’s Paretchan joins Ascot US as SVP of partnership engagement

Reinsurance News

Insurer and reinsurer Ascot US has appointed Vahan Paretchan as Senior Vice President of Partnership Engagement for its Southeast region. In the role, he is expected to work closely with Ascot’s US colleagues, where he will help provide the firm&#...

Posted: Jan 06, 2025

The Wartime Risk Insurers Making Fortunes Keeping Trade Moving

Insurance Journal

Inside faceless office buildings scattered around London, a niche corner of the insurance market is keeping hundreds of billions of dollars in commodity trade moving through some of the world’s most dangerous waters. As conflicts rage in the Mi...

Posted: Jan 06, 2025

Guy Carpenter global property cat ROL index down 6.6% at Jan 1 reinsurance renewals

Reinsurance News

Reinsurance broker Guy Carpenter’s latest Global Property Catastrophe Rate on Line (ROL) Index has fallen 6.6% at the January 1st, 2025, reinsurance renewals, which reflects the reported rate decreases seen across global property cat treatie...

Posted: Jan 06, 2025

Marsh Asia appoints Brent Clawson as Global Placement Leader

Reinsurance News

Insurance broker and risk advisor Marsh has announced the appointment of Brent Clawson as Global Placement Leader for Marsh Asia. Clawson brings nearly two decades of industry experience, particularly in Asia. He has been working at Marsh for over...

Posted: Jan 06, 2025

Southeast US SCS and flooding may cause hundreds of millions in losses: Aon

Reinsurance News

The severe convective storm (SCS), tornadoes, and flooding that struck the southeast US from December 26-29 may lead to combined economic and insured losses reaching hundreds of millions of USD, according to global insurance and reinsurance broker...

Posted: Jan 06, 2025