Insurance

For the first time since the devastating U.S. hurricanes of 2004 and 2005, property-catastrophe capacity contracted during the June/July reinsurance renewal period, Aon said in a new report released yesterday. While the reinsurance market remained stable on the casualty side, …

The supermarket chain Wegmans agreed to pay $400,000 and upgrade its security practices over a data breach that exposed personal information of more than 3 million consumers nationwide, New York Attorney General Letitia James said on Thursday. Wegmans was accused …

Fifteen Black former or current employees at Tesla filed a lawsuit against the electric car maker on Thursday, alleging they were subjected to racial abuse and harassment at its factories. The workers said they were subjected to offensive racist comments …

Coughlin, Inc., a Vermont-based company that owns 10 McDonald’s franchise restaurants in Vermont and New Hampshire, will pay $1,600,000 and furnish other relief to settle a sex discrimination and retaliation lawsuit filed by the Equal Employment Opportunity Commission (EEOC), the …

The Board of Convex Group Ltd., the Bermuda-based specialty re/insurer, announced that Paul Brand, who founded the business in 2019 with Stephen Catlin, will become group CEO with effect from July 1, 2022. Brand has been deputy CEO since Convex …

ESG investment strategies are being probed for deceptive labeling, criticized for excluding firms like Tesla Inc. and questioned as to whether they actually work. All this, some sustainable fund managers said, could be a good thing. Tough scrutiny of loosely-regulated …

Conservative justices power 6-3 ruling; liberals dissent Ruling curbs EPA ability to regulate power plant emissions Biden vows to tackle climate change despite the ruling The U.S. Supreme Court on Thursday imposed limits on the federal government’s authority to issue …

Florida property insurers have another cost increase to manage after the Florida Hurricane Catastrophe Fund was approved for a premium increase. The fund’s governing body, the State Board of Administration, this month gave final approval to the formula used to …

Eight months after it stopped renewing homeowners and rental property policies in Florida, Progressive Insurance announced it will now stop writing new dwelling-fire business in the distressed Florida market. “To ensure a long-term future in Florida, Progressive Home is temporarily …

Matt Neidlinger crested the hill of a narrow, twisty state road and found a nasty surprise waiting for him at the bottom. The ditch was a couple of feet wide and spanned both lanes, and Neidlinger barely had time to …