Insurance
Prudential Japan Pledges Reforms After Widespread Misconduct
Prudential Financial Inc.’s Japan insurance head vowed to bolster governance after revelations that improper actions by more than 100 current and former staff cost customers about $20 million. The chief executive officer of the unit, Kan Mabara, “deeply” apologized for …
Read More Port of Los Angeles December Imports Fell 8% From Year Earlier
The Port of Los Angeles handled 424,499 20-foot equivalent units of imports in December, down 8% from the year earlier, according to data released by the nation’s busiest seaport on Thursday. Related: EU ‘Fully Prepared’ to Hit Back Over Trump’s …
Read More Pennsylvania High Court Quashes Challenge to Uber’s ‘Clickwrap’ Arbitration Agreement
The Pennsylvania Supreme Court has vacated a lower appeals court ruling that had found ride-hailing firm Uber’s “clickwrap” mandatory arbitration agreement unenforceable because it would deprive a husband and wife of their right to a jury trial for their injury …
Read More Munich Re May Trim Headcount Through Voluntary Buyouts at Ergo Insurance Unit
German reinsurer Munich Re is planning to reduce jobs through attrition but may turn to voluntary buyouts at its ERGO insurance unit, CEO Christoph Jurecka said. Speaking to journalists on Thursday evening in Munich, Jurecka said that natural fluctuation “may …
Read More France Reports Second Baby Death Amid Tainted Formula Crisis
French authorities received a report of a second infant death, as a tainted formula crisis that’s engulfed Nestlé SA, Danone SA and Groupe Lactalis widens. Both babies drank formula that has been recalled, the French health ministry said in a …
Read More Another Russian Shadow Fleet Oil Tanker Runs Into Difficulties
An oil tanker that’s under sanction for its role in transporting Russian oil appears to have run into trouble off the coast of Algeria and is now drifting in the Mediterranean Sea, according to tracking data compiled by Bloomberg. The …
Read More People Moves: Burns & Wilcox Promotes Leaders Nationwide
Burns & Wilcox, headquartered in Farmington Hills, Michigan, transitioned several of its professionals into new leadership positions. Sam Carson, formerly vice president, operations, is now vice president & managing director with responsibilities for the Burns & Wilcox offices in Chicago, …
Read More Poll: Most Americans Believe Cities Will Be Lost to Rising Sea Levels
Many Americans believe climate change climate change is likely to cause some cities to be lost to rising sea levels, and they also expect mass displacement of people and serious damage to the global economy, a new poll shows. A …
Read More France Boards Russia-Linked Oil Tanker in Shadow Fleet Move
France’s navy boarded an oil tanker coming from Russia into the Mediterranean Sea, as part of a global crackdown on shadow fleet ships used to export sanctioned crude. The operation was carried out on the high seas, with the support …
Read More Egan-Jones Ratings No Longer Recognized by Bermuda Regulator
Egan-Jones Ratings Co. has been removed from the Bermuda Monetary Authority’s list of recognized credit ratings providers, according to recent guidance from the watchdog. The regulator is no longer listing Egan-Jones among the ratings providers that can inform an insurer’s …
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