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INSURANCE NEWS
Mercury Insurance Founder Joseph Dies at Age 104
George Joseph, who founded Mercury General Corp. nearly 65 years ago, has died at age 104, the company announced this week. Joseph served as chairman from the company’s founding and led Mercury as CEO for 45 years, ending his time …
Buc-ee’s Faces Backlash in Ohio Over Logo Lawsuit with Mini Mart
A lip-licking alligator, a smiling moose and a hat-wearing bear are among the many cartoon animals to have found themselves in the crosshairs of Buc-ee’s, the popular Texas convenience store chain that has a penchant for protecting its buck-toothed beaver. …
Wildfire Burns Structures in North Central Texas
A wildfire that exploded in size in a matter of hours ripped through wide swaths of ranchland in rural Texas, burning structures at a youth camp while forcing evacuations and closing schools Tuesday. The fire, which began early Monday afternoon, …
Carnival Cruise Line Wins New Trial After $10M Verdict in Sex Assault Suit
Carnival Cruise Line, long the subject of lawsuits accusing its crew members of unwanted sexual advances on passengers, has won a new trial in a case in which a Florida jury awarded $10.3 million to a young woman who said …
Near-Miss Data Can Expedite Self-Driving Vehicle Algorithm Training: Study
Researchers have developed a new approach to boosting self-driving vehicle algorithms that could significantly reduce the time and cost required to prepare automated vehicles for real-world deployment, according to the University of Michigan. Rather than relying on the vast amounts …
Marketing Firm Sued for Refusing to Hire Pregnant Woman
International advertising and marketing firm Dentsu International Americas, LLC, violated federal law when it refused to hire a pregnant woman for a Minneapolis-based position promoting alcoholic beverage brands, the U.S. Equal Employment Opportunity Commission (EEOC) charged in a lawsuit announced. …
Permian Basin Set to Become Top US Gas Producer, Citi Says
The Permian Basin is on track to become the largest US natural gas-producing region by the end of the decade, making the world’s most productive oil shale field also the nation’s leader in gas output, according to Citigroup Inc. analysts. …
People Moves: Marsh Promotes Ward as CEO of Pacific, Guy Carpenter; QBE Names Thompson as Global Director of Data Centres in Newly Created Role
This edition of International People Moves details appointments at Guy Carpenter and QBE. A summary of these new hires follows here. Marsh Promotes Ward as CEO of Pacific, Guy Carpenter Insurance and reinsurance broker Marsh announced the appointment of Justin …
The Villages Health Agrees to Pay $542M for Medicare Advantage Overbilling
The Villages Health System in central Florida, part of the world’s largest retirement community, has agreed to pay almost $542 million to settle civil claims stemming from its disclosure that it submitted false diagnosis codes to boost payments from the …
Insurance Industry Labor Market Study Shows Slowing Turnover and Modest Growth
More than three-fourths (78%) of U.S. insurers expect modest revenue growth during the next 12 months, and about half (49%) plan to increase staff. However, it seems many companies are “hiring to backfill key positions and bring in new talent, …
Hawaii Insurance Division Issues Memo to Insurers for Lala Claims
The Hawaii Insurance Division issued a memo to insurers this week stating it expects them to handle claims from Tropical Storm and Hurricane Lala “promptly, fairly,” and in accordance with state law insurance contracts. The memo on Wednesday from Insurance …
Europe’s Credit Markets Shrug Off Climate Risks Despite Devastating Droughts
Severe droughts across Europe this summer led to huge wildfires, disrupted transport on critical routes, threatened power plants and hit corporate earnings across the continent. The credit markets are mostly unmoved. The extreme weather is a reminder of the growing …