INSURANCE NEWS
Britain Proposes Diversity and Misconduct Rules for Financial Services Firms
Britain’s financial regulators proposed guidance on Monday for financial firms to tackle sexual harassment and bullying, along with new requirements for large banks and insurers to set targets to improve diversity and inclusion. The Financial Conduct Authority (FCA) and the …
Russia Dodges G7 Price Cap Sanctions on Most of Its Oil Exports: FT
Russian crude oil supplies increased 50% this spring despite the G7 countries imposing sanctions due to war in Ukraine, the Financial Times reported on Sunday citing data from analytics company Kpler. The European Union, G7 countries and Australia introduced a …
Aviva Agrees to Acquire AIG’s UK Protection Business for $563 Million
British insurer Aviva said on Monday it had agreed to acquire the UK protection business of AIG for 460 million pounds ($563 million). Aviva said it would buy the unit – known as AIG Life UK – from Corebridge Financial …
US Wildfire Fighters Are Hitting a Pay Cliff at the Worst Time
In Fairbanks, Alaska, the US Forest Service is looking to hire a smokejumper, a person who parachutes out of a rickety airplane to wrangle wildfires that break out far from roads or rivers. Little experience is necessary; the pay starts …
EEOC Sues UPS, Alleging Discrimination Against Deaf Drivers
The U.S. Equal Employment Opportunity Commission (EEOC) on Friday said it sued United Parcel Service for disability discrimination, alleging the delivery firm refused to hire deaf or hearing-impaired individuals as drivers. The agency said the Department of Transportation (DOT) has …
Florida Agriculture Losses from Idalia Reach $78M to $371M, Study Says
ST. PETERSBURG, Fla. (AP) — Florida agriculture losses from Hurricane Idalia are estimated at between $78 million and $371 million, with farmers also suffering widespread damage to such infrastructure as irrigation rigs and fences, according to a preliminary report Thursday …
AM Best Tweaks State Farm Outlook to Negative After Weather, Regulatory Issues
The AM Best financial rating firm has downgraded its outlook for multiple State Farm insurance companies due to weather losses and regulations that the firm said hinder the insurance giant’s ability to adequately raise rates. “The negative outlooks on the …
Warrant Issued for Former Washington Lawyer Accused of Stealing Insurance Settlement
A Bothell, Washington man was added to Insurance Commissioner Mike Kreidler’s Insurance Fraud Most Wanted list. Clinton Jonathan “Sonny” Behrends failed to appear at his arraignment after being charged by the King County Prosecutor’s Office with two counts of first-degree …
World Insurance Associates Acquires Cindy Elbert Insurance Services in Arizona
World Insurance Associates LLC acquired Cindy Elbert Insurance Services Inc. of Peoria, Arizona. Cindy Elbert Insurance Services was founded in 1982 to offer professional services designed to assist ambulance providers with their insurance needs. World Insurance Associates is headquartered in …
Another Home Explosion in New Jersey Sends Five to Hospitals
WEST MILFORD, N.J. (AP) — Five people were transported to hospitals after an explosion at a New Jersey home on Friday night, police said. The house in West Milford was heavily damaged by the explosion around 9 p.m., the West …
Spyware Hacking of Egyptian Oppo Leader Prompts Updates from Apple
BOSTON (AP) — A leading Egyptian opposition politician was targeted with spyware after announcing a presidential bid, security researchers reported Friday. They said Egyptian authorities were likely behind the attempted hack. Discovery of the attempt last week by researchers at …
Ophelia Brings Flooding to Coastal North Carolina, Virginia
ANNAPOLIS, Md. (AP) — Residents in parts of coastal North Carolina and Virginia experienced flooding Saturday after Tropical Storm Ophelia made landfall near a North Carolina barrier island, bringing rain, damaging winds and dangerous surges. The storm came ashore near …