INSURANCE NEWS
Kansas Firefighters Receive $16.8M From Insurance Department
The Kansas Insurance Department distributed $16.8 million to firefighters across the state, funds generated by a two percent tax paid by insurance companies on fire and lightning insurance premiums written in Kansas. The Kansas Firefighters Relief Act was created in …
Indiana Community Hospital Sued for Disability Discrimination
The U.S. Equal Employment Opportunity Commission (EEOC) announced a suit it filed against Munster Medical Research Foundation, Inc., operators of Community Hospital, located in Munster, Indiana, for failing to accommodate an employee with a disability. In its lawsuit, the EEOC …
Texas Power Grid Operator Urges Power Conservation During Heat Wave
The Texas power grid operator urged homes and businesses to conserve electricity on Tuesday evening to prevent power reserves from falling short as consumers crank up their air conditioners to escape the first heat wave of the summer season. Power …
Texas Family Dollar Faces $294K Over Repeat Safety Violations
Soon after U.S. Department of Labor workplace safety inspectors arrived at a Family Dollar store in southeast Van Zandt County in December 2022, they found the store’s operator allowing merchandise to block storeroom exits and walkways, stacking boxes at unsafe …
FTC Sues Amazon for Hindering Consumer Attempts to Cancel Prime
The US Federal Trade Commission sued Amazon.com Inc. Wednesday, alleging the e-commerce giant duped consumers into signing up for its Prime membership service and deliberately made it hard to cancel. The consumer protection agency filed a lawsuit in Washington state …
People Moves: Patterson Named Meadors, Adams & Lee Shareholder
Patterson Named Shareholder in Meadors, Adams & Lee Insurance Agency Meadors, Adams & Lee has named J.K. Patterson a shareholder. Patterson, who joined the agency as a property and casualty producer in 2014, is just the seventh shareholder in the …
‘Comprehensive Legislation’ Needed to Address AI, Senator Schumer Says
U.S. Senate Majority Chuck Schumer on Wednesday will call for “comprehensive legislation” to advance and ensure safeguards on artificial intelligence (AI). Governments around the world are considering how to mitigate the dangers of the emerging technology. Surging popularity of so-called …
London Metal Exchange Canceled Nickel Trades to ‘Save’ China’s Tsingshan, Court Told
The London Metal Exchange canceled $12 billion worth of trades when nickel prices went haywire in March 2022 to “save” China’s Tsingshan, lawyers for two financial firms suing the exchange told London’s High Court on Tuesday. U.S.-based hedge fund Elliott …
Twitter Employees Sue Company, Claiming It Refuses to Pay 2022 Bonuses
Twitter Inc. employees sued the social media company claiming it refuses to pay 2022 bonuses, despite promises that they would be paid out at 50% of their target amounts. Twitter has a cash performance bonus plan that is paid out …
Rapidly Melting Glaciers on Highest Mountains Threaten Quarter of Humanity
Rapidly melting glaciers in Asia’s Hindu Kush Himalayan region — home to the world’s highest mountains — are threatening the lives and livelihoods of as many as two billion people downstream, according to a new study. The glaciers thawed 65% …
Howden Acquires 2 Swiss Brokers
Howden, the London-based insurance broker, announced it has expanded its offering in Switzerland with the acquisition of insurance brokers argenius Risk Experts AG (argenius) and RVA Versicherungsbroker AG (RVA). Born Consulting AG, which has been part of Howden Switzerland since …
Aon, Lloyd’s and Vienna Insurance Group to Provide Re/Insurance for Ukraine Recovery
Aon, Lloyd’s and Vienna Insurance Group (VIG) announced they are collaborating to provide foreign re/insurance capacity to support Ukraine’s recovery and reconstruction. As part of the UK-Ukraine Private Finance Partnership, Lloyd’s and Aon have committed to deliver fast-track access to …