INSURANCE NEWS
Court Orders Nestlé to Pay $2.2 Million to Bullied Former Executive
Nestlé SA must pay a former executive 2 million Swiss francs ($2.16 million) after she was bullied and forced out of the company, the newspaper Tages Anzeiger reported, citing a local appeals court ruling. The Canton of Vaud Court of …
Maersk Sues Evergreen in Danish Court Over 2021’s Suez Canal Blockage
Shipping group Maersk said on Monday it had filed a lawsuit against the owner and operator of container ship Ever Given, which blocked the Suez Canal for six days in 2021, claiming compensation for delays caused by the incident. The …
Vermont Regulators Remove Possibly Contaminated Marijuana From Stores
Vermont regulators have removed marijuana potentially contaminated with a pesticide from five retail stores after a consumer reported feeling sick after smoking some. Vermont’s Cannabis Control Board issued a consumer protection warning last week for all strains of marijuana produced …
Liberty Mutual Launches Global Cyber Office to Better Manage Complex Cyber Risks
Liberty Mutual Insurance announced the formation of a Global Risk Solutions (GRS) Global Cyber Office and the appointment of a leadership team consisting of industry experts. The office aims to build and scale Liberty Mutual’s cyber capabilities around the world, …
Norway’s $1.35 Trillion Wealth Fund: We Won’t Back Boards Who Fail on Climate
Norway’s $1.35 trillion wealth fund will step up its engagement with companies over their management of climate risk by voting against board members it deems are not doing enough on the issue, it said on Thursday. Investing the state’s revenues …
European Medicines Agency Committee Starts Safety Review of Cold Medicines
A European Medicines Agency (EMA) committee said on Friday it has started a review of decongestant medicines for cold and flu that contain the ingredient pseudoephedrine following safety concerns. The EMA said the review was due to reports of conditions …
India’s Kotak Mahindra Bank Weighs Sale of Stake in General Insurance Unit: Sources
Kotak Mahindra Bank Ltd., backed by billionaire Uday Kotak, is considering selling a minority stake in its general insurance unit, according to people familiar with the matter. The lender is working with an adviser on the potential sale of a …
Viewpoint: Used-Vehicle Prices May Be Cresting but Insurers Still Underwater
“It was the best of times, it was the worst of times” would be an apt description of the last few years for auto insurers. Immediately after a nationwide, months-long driving hiatus caused collisions to plummet and profits to surge, …
Cyclone Gabrielle Hits New Zealand Leaving Thousands of Homes Without Power
Tens of thousands of homes in northern New Zealand are without electricity as a powerful cyclone begins lashing the South Pacific nation, bringing high winds and intense rainfall. Cyclone Gabrielle is tracking north-east of New Zealand and the center of …
Car-Data Firms Flop as Automakers See Dollar Signs in Software
Auto companies promising billions in new software revenue by the end of the decade have been hiring engineers left and right, poaching executives from tech giants and trying to figure out how to process and monetize the oodles of data …
Governor Names Yaworsky New Florida Insurance Commissioner
Florida’s governor has named the insurance department’s former chief of staff as new insurance commissioner, filling a position that has been vacant since the former commissioner resigned in late December. Michael Yaworsky, now vice chair of the Florida Gaming Control …
Two Arrested in Homemade Bombing of Georgia Woman’s Home
Georgia authorities have arrested two men, a month after a homemade bomb destroyed part of a home near Savannah. Caleb Kinsey, 33, and Stephen Glosser, 36, were apprehended last week after an investigation into the bombing at the Richmond Hill …