INSURANCE NEWS
UK Workers Take Most Sick Leave in More Than a Decade: Employer Survey
British workers took the most sick leave in more than a decade during the past year, a survey of employers showed on Tuesday, adding to signs of a lasting increase in ill health since the COVID-19 pandemic. The Chartered Institute …
Ares Management Provides £1 Billion of Loans for UK Insurance Merger
Ares Management Corp. is providing a direct-lending package of about £1 billion ($1.2 billion) to support the merger of two personal insurance businesses in the UK, according to people familiar with the matter. Ardonagh Group — a large borrower in …
Thomson Reuters AI Copyright Dispute Must Go to Trial, Judge Says
A jury must decide the outcome of a lawsuit by information services company Thomson Reuters accusing Ross Intelligence of unlawfully copying content from its legal-research platform Westlaw to train a competing artificial intelligence-based platform, a Delaware federal judge said on …
Conservative Activist Uses Civil War-Era Law to Challenge Corporate Diversity
The anti-affirmative action activist behind the successful U.S. Supreme Court challenge to race-conscious college admissions policies is trying to use a Civil War-era law designed to protect formerly enslaved Black people from racial bias to dismantle American corporate diversity programs. …
OpenAI CEO: Possible to Get Regulation Wrong, but Should Not Fear it
The CEO of ChatGPT maker OpenAI said on Monday that it was possible to get regulation wrong but it is important and should not be feared, amid global concerns about rapid advances in artificial intelligence, or AI. Many countries are …
NC Commissioner, Firefighters Question New Law Making Fire Marshal a Separate Office
North Carolina’s Republican supermajority in the legislature has thrown a curveball to the state’s insurance commissioner and fire marshal, a position that until recently has mostly stayed above partisan politics. A late change to the state’s $30 billion budget, approved …
Arthur J. Gallagher Acquires Hartley Cylke Pacific Insurance Services in California
Arthur J. Gallagher & Co. today acquired San Hartley Cylke Pacific Insurance Services Inc. in San Diego, California. Michael Hartley, John Cylke, James Hawes and their team will remain in their current location under the direction of Scott Firestone, head …
Connecticut Eyes 9.8% Cut in Workers’ Compensation Costs
Connecticut workers’ compensation insurers are recommending an overall 9.8% reduction in loss costs in the voluntary market and a 10.5% overall reduction in the assigned risk market. The rate filing submitted to the Connecticut Insurance Department by the insurers’ National …
Shimano Crankset Recall After Several Crashes and Injuries
NEW YORK (AP) — Cycling company Shimano is recalling some 760,000 bike cranksets in the U.S. and Canada due to a crash hazard that has resulted in several reported injuries. According to a Thursday notice from the U.S. Consumer Product …
Report Examines 10-Year California Workers Comp Payment Trends
Average paid losses on California workers’ compensation lost-time claims fell immediately after legislative reforms of SB 863 took effect a decade ago, but then gradually increased up until the pandemic hit, according to a new study. The California Workers’ Compensation …
People Moves: Bates Joins Alliant as VP in Austin, Texas
Bates Joins Alliant as VP in Austin, Texas Nick Bates joined Alliant Insurance Services’ Alliant Americas division as vice president in Austin, Texas. Bates joins Alliant with 20 years of experience, including roles as vice president at both McGriff and …
West Virginia Regulator Wants Input on Surplus Lines Export List
The West Virginia Office of Insurance Commissioner is accepting comments on potential changes to the state’s surplus lines export list, through Oct. 16. By state law, the office maintains a list of coverages and classes that may be placed with …