Insurance Journal
A proposed settlement for more than $4 million has been reached in the lawsuit brought by former Iowa football players who alleged racial discrimination in coach Kirk Ferentz’s program. The office of State Auditor Rob Sand disclosed the propose...
Posted: Mar 07, 2023
CLEVELAND HEIGHTS, Ohio (AP) – A man who spent more than 16 years in prison for a rape that DNA evidence showed he did not commit has reached a $4 million wrongful imprisonment settlement. The agreement between Christopher Miller and …
Posted: Mar 07, 2023
How it is that Illinois, a jurisdiction not typically associated with a strong commitment to free-market principles, came to be the first state in the nation to allow its insurance rates to be regulated entirely by open competition is something ̷...
Posted: Mar 07, 2023
The Insurance Industry Charitable Foundation (IICF) recently hosted its 2023 IICF Media Roundtable. The March 2 event gathered leaders from 24 leading insurance organizations for a series of presentations focused on the state of charitable giving in...
Posted: Mar 07, 2023
The US Justice Department challenged JetBlue Airways Corp.’s $3.8 billion acquisition of Spirit Airlines Inc. Tuesday, filing an antitrust lawsuit seeking to block the deal. In a complaint filed in federal court in Boston, the Justice Departmen...
Posted: Mar 07, 2023
Connecticut lawmakers are considering imposing a surcharge on insurers’ premiums from the fossil fuel industry. The proposal (SB-1115) calls for a tax of 5% of any premiums any insurer licensed in the state receives from fossil fuel companies a...
Posted: Mar 07, 2023
Climate change is already having a major economic and financial impact on the United States and may trigger asset value losses in coming years that could cascade through the U.S. financial system, Treasury Secretary Janet Yellen will warn on Tuesday....
Posted: Mar 07, 2023
Rancho Cucamonga, California-based Aspire General Insurance Co. is expanding into the Arizona marketplace. According to Tyler Nicholson, vice president of marketing at Aspire General, the move into Arizona is the first state in an aggressive state ex...
Posted: Mar 07, 2023
Swiss Re has closed a US$700 million multi-year stop-loss transaction with funding led by J.P. Morgan. The financing builds upon an innovative hybrid transaction concluded with J.P. Morgan in April 2022, which was the first of its kind to combine ...
Posted: Mar 07, 2023
The Confederation of British Industry said on Monday that its director-general, Tony Danker, had stepped aside while the employer body conducted a review into his behavior. The CBI said it had already conducted an internal investigation into Danker&#...
Posted: Mar 07, 2023
Verlingue Ltd., the UK chartered insurance broker, has established a dedicated media practice under plans to expand its presence in the fast-growing independent media sector. The team, headed up by Maia Olesen, client director, will focus on independ...
Posted: Mar 07, 2023
Extreme weather caused by climate change could cost Germany up to 900 billion euros [$957.2 billion] in cumulative economic damage by mid-century, a study showed on Monday, as Europe’s biggest economy seeks climate adaptation measures to cut th...
Posted: Mar 07, 2023
Ukraine has started online talks with partners on extending the Black Sea Grain Initiative aimed at ensuring Kyiv can keep shipping grain to global markets, a senior Ukrainian government source said on Tuesday. The source said Ukraine had not held &#...
Posted: Mar 07, 2023
SPRINGFIELD, Ohio (AP) – About 20 cars of a Norfolk Southern cargo train derailed near Springfield Saturday evening, the second derailment of the company’s trains in Ohio in a month, officials said. But unlike the Feb. 3 derailment in Eas...
Posted: Mar 07, 2023
China will set up a national financial regulatory administration, according to a plan submitted on Tuesday to the national legislature for deliberation. Directly under the State Council, or cabinet, the proposed administration will be in charge of re...
Posted: Mar 07, 2023
China will set up a national financial regulatory administration, according to a plan announced on Tuesday, in the biggest overhaul of the country’s financial supervisory apparatus in years. The China Banking and Insurance Regulatory Commission...
Posted: Mar 07, 2023
The governor of the Bank of England has told lawmakers that the UK government’s plans to reform insurance capital rules increases the annual risk of a failure in the life insurance sector by around 20%. The likelihood of a failure …
Posted: Mar 07, 2023
A long road lies ahead to repair confidence in crypto after unprecedented bankruptcies and hacks, including the major challenge of giving investors a way of insuring against such events. Stock brokerage accounts often come with some cover against out...
Posted: Mar 07, 2023
Massive and massively expensive, it’s been touted as the “crown jewel” of Everglades restoration, the key to unlocking every other project that will come after it. The $4 billion Everglades Agricultural Area reservoir – about...
Posted: Mar 07, 2023
Global supply chains have “returned to normal,” the Federal Reserve Bank of New York said on Monday, with pressures dropping to the lowest since before the COVID-19 pandemic threw a wrench into procurement networks worldwide and created s...
Posted: Mar 07, 2023
The Biden administration is set to release an aggressive new national cybersecurity strategy on Thursday that seeks to shift the blame from companies that get hacked to software manufacturers and device makers, putting it on a potential collision cou...
Posted: Mar 07, 2023
The U.S. Department of Labor said it has recovered about $330,000 in back wages from a North Carolina contractor that misclassified workers as independent contractors. “Employers who misclassify employees as independent contractors deny them ov...
Posted: Mar 07, 2023
The former manager of a Massachusetts Registry of Motor Vehicles branch has agreed to plead guilty to federal extortion charges for allegedly taking bribes and in exchange for issuing passing scores on learner’s permit tests, federal prosecutor...
Posted: Mar 07, 2023
The owner of a chain of clinics treating substance abuse disorders in Massachusetts and Rhode Island, and one of the company’s employees, were charged last week with cheating health insurers out of millions of dollars while depriving patients o...
Posted: Mar 07, 2023
Citizens Property Insurance Corp. will face a new trial on a roof claim because its win in the first trial was compromised by reliance on hearsay evidence. A three-judge appeals panel has ordered a retrial because in the previous proceeding …
Posted: Mar 07, 2023