INSURANCE NEWS
UK Insurer Aviva to Sell Singlife Joint Venture Stake for $1 Billion
Aviva is quitting its Singlife joint venture, selling its 25.9% stake in Singapore Life Holdings and two debt instruments to Sumitomo Life for a combined 800 million pounds ($997 million), the British insurer said on Wednesday. The transaction is expected …
EEOC Sues Oklahoma Powersports Vehicle Retailer for Sex Discrimination
Vicars Powersports, a McAlester, Oklahoma retailer of ATVs, UTVs, dirt bikes, motorcycles and personal watercraft, violated federal law when it fired a female manager because she is a woman, the U.S. Equal Employment Opportunity Commission (EEOC) charged in a lawsuit. …
Texas Sees Rapid Growth in Battery Storage to Support Power Grid
On Wednesday night, minutes before the state’s grid operator went into emergency mode to make sure it would have enough power to meet high demand during another triple-digit day, batteries provided more electricity to Texas homes and businesses than ever …
Driver Killed as Loose Wheel Crashes into Vehicle on Interstate 70 in Indianapolis
INDIANAPOLIS (AP) – A wheel came off a pickup truck on an Indianapolis freeway, bounced over a median and crashed into the windshield of another vehicle, killing its driver Monday, police said. The woman driving the second vehicle was pronounced …
Minnesota Meat Processing Company Fined $300K for Employing Children in Hazardous Conditions
MADELIA, Minn. (AP) – A meat processing company in Minnesota on Friday agreed to pay $300,000 in penalties after an investigation found it employed children as young as 13 to work in hazardous conditions, such as operating meat grinders, while …
Pulitzer Winner Chabon, Other Authors Sue Meta Over AI Program
A group of writers including Pulitzer Prize winner Michael Chabon sued Meta Platforms in San Francisco federal court on Tuesday, accusing the tech giant of misusing their works to train its Llama artificial-intelligence software. Chabon, Tony-winning playwright David Henry Hwang …
Hyundai, Kia Urge Court to Reject Cities’ TikTok-Inspired Theft Lawsuits
Korean automakers Hyundai Motor and Kia Corp on Tuesday asked a U.S. judge to reject lawsuits filed by 17 cities for failing to install anti-theft technology in millions of their vehicles. The lawsuits come after thousands of Hyundai and Kia …
Burns & Wilcox Acquires Alabama-based Environmental Underwriting Solutions
Burns & Wilcox, the wholesale insurance brokerage, has agreed to acquire Alabama-based Environmental Underwriting Solutions, a wholesale broker specializing in complex environmental exposures, from Insurance Office of America. The move, announced in a news release Tuesday, supports Burns & Wilcox’ …
HEMIC in Hawaii Declares $4M Dividend for Policyholders
The board of Hawaii Employers’ Mutual Insurance Company Inc. declared a $4 million dividend to qualifying policyholders. This marks 17 straight years of policyholder dividends, meaning HEMIC will have returned more $48 million to policyholders in dividends and pandemic premium …
California Fast Food Workers Getting $20 Minimum Wage Under Labor and Industry Deal
Most fast food workers in California would get a $20 minimum wage next year, a nearly $5 per hour raise, under a deal announced this week between labor unions and the industry that will avoid a costly referendum on the …
Missouri Roofing Contractor Faces $205K Fine After Employee’s Fatal Fall
On March 27, 2023, an 18-year-old employee of a Missouri contractor was applying sealant to a commercial building’s roof when he fell more than 22 feet and suffered serious injuries that left him in a coma for five days before …
Louisiana Commissioner Directs Agents to Notify Citizens Policyholders of Less Expensive Policy Offers
A recent directive issued by Louisiana Insurance Commissioner Jim Donelon orders agents to notify their Louisiana Citizen policyholders when they receive an offer to be placed with a significantly less expensive insurer in the private market. Donelon issued Directive 222 …