Insurance
Trick or Treat? Lawsuit Alleges Some Hershey Candy Wrappers Contain PFAS
Just two days before Halloween, The Hershey Co. was hit with a class action lawsuit alleging that the packaging of some of its candies contains unsafe levels of chemicals known as fluorine and/or per- and polyfluoroalkyl substances (PFAS). The suit …
Read More TPG’s Exactech Goes Bankrupt After Lawsuits Over Recalled Implant Devices
Exactech Inc., a maker of joint-replacement implants owned by TPG Capital, has filed bankruptcy after being accused in more than a thousand lawsuits of making defective hip and knee implants that hurt patients. The Florida-based company sought court protection Tuesday …
Read More ‘Pivotal’ Q3 Sees Insurtech Root Achieves Net Income Profit for the First Time
For the first time in the company’s history, Root Inc. recorded a quarterly net income profit. The Columbus, Ohio-based parent company of Root Insurance founded in 2015 recorded third quarter net income of about $23 million compared to a net …
Read More People Moves: Rivera Appointed CEO of Marsh McLennan LATAM/Caribbean, Brockman Named Chair; HDI Global Taps AGCS’s Strasser as Board Member for Specialty Lines
This edition of International People Moves details appointments at Marsh McLennan Latin America and HDI Global. A summary of these new hires follows here. Rivera Appointed CEO of Marsh McLennan LATAM and Caribbean, Brockman Named Chair Insurance broker Marsh McLennan …
Read More Companies Boost Social and Climate Reporting Amid ESG Backlash
Many U.S. companies have stepped up reporting on environmental and social matters in recent years even with sustained pressure from conservative politicians, data reviewed by Reuters shows. The trend shows the importance investors and regulators now place on environmental, social …
Read More New York Reduces Workers’ Compensation Assessment Rate for 2025
New York employers will pay 22% less in the annual assessment to run the state’s workers’ compensation system in 2025. The rate assessed on standard premiums will be 7.1% beginning January 1, 2025, down from 9.2% in 2024. The Hochul …
Read More Markets/Coverages: Howden Launches Cyber Ins. Solution with Chubb, LSM and Mosaic
Howden, the London-based insurance intermediary group, announced the launch of Howden Safe+, a cyber insurance solution aimed at clients with revenues between $250 million and $2 billion. Safe+ simplifies the procurement process by reducing the number of questions required at …
Read More Typhoon Kong-Rey Hits Taiwan as Shanghai Braces for Downpour
Typhoon Kong-Rey made landfall in Taiwan packing dangerous winds, with Shanghai bracing for the heaviest November rain burst since 1981 as the large storm tracks toward mainland China. Kong-Rey had maximum sustained winds of 51 meters per second (114 miles …
Read More Spain Declares Three Days of Mourning as Storms Kill More Than 90
Spain declared three days of mourning as heavy rains killed more than 90 people, in what is already one of the country’s worst-ever natural disasters. The local government of Valencia, the coastal region at the epicenter of the disaster, said …
Read More Online Insurer Waterdrop Mulls Secondary Listing in Hong Kong
US-listed Waterdrop Inc. is looking at a secondary listing in Hong Kong as it seeks to expand its insurance business in the financial hub, according to Chief Executive Officer Shen Peng. The online insurance broker, which has overhauled its business …
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