INSURANCE NEWS
DOJ Antitrust Losses in Court Are Seen as Setback for Biden’s Merger Crackdown
In the span of just a month, federal judges rejected the US Justice Department’s attempts to block three mergers in the health technology, agriculture and defense contracting industries. The agency is considering appeals – and points out it’s racked up …
Carolina Company CFO Ordered to Pay Restitution to Insurer in $2 Million Embezzlement
The former chief financial officer for a Carolina-based manufacturing supply company must spend more than three years in prison and repay $2 million he embezzled, which includes payments made by the firm’s insurance carrier. Samuel Allen Mouzon, 62, for 20 …
Unilever Adds to Growing List of U.S. Products Recalled Due to Benzene
Unilever issued a voluntary recall of dry shampoo aerosol produced before October 2021 and sold nationwide because they may contain benzene, a human carcinogen. New Jersey-based Unilever U.S. said the list of products include those from Dove, Nexxus, Suave, TIGI …
Risk Strategies Acquires Actuarial Firm Aquarius Capital
Specialty insurance broker Risk Strategies announced it has acquired Aquarius Capital Solutions Group, an actuarial firm focused on health care, employee and retirement benefits. Founded in 2002 and based in Port Chester, New York, Aquarius Capital provides actuarial consulting solutions …
A Decade After Sandy, New York City Resiliency Projects, Spending Lag: Comptroller
Ten years after Superstorm Sandy pounded New York City’s coastal areas, taking 43 lives and causing $19 billion in damages, many resiliency projects remain years from completion and billions of dollars in recovery funds remain unspent. According to a report …
Kia Recalling 71,000 Older U.S. Sportage Vehicle for Fire Risks
Kia will recall 71,000 2008-2009 model year Sportage vehicles in the United States previously recalled in 2016 for fire risks and is advising owners to park outside until repairs are completed. Kia said the recall fix is currently under development …
Building the Workforce of Tomorrow with K-12 Cybersecurity Education
Cybersecurity is becoming more important in an increasingly digital world, and experts agree that good cybersecurity starts with a good education. As the use of technology and tech platforms becomes more widespread and interconnected, guests on this episode of The …
Insurance Risk Transfer Platform Vesttoo Valued at $1 Billion After Latest Funding Round
Vesttoo Ltd. said on Tuesday its valuation has more than tripled to $1 billion after the insurance risk transfer platform secured $80 million in late-stage funding at a difficult time for private companies to raise capital. The series C round …
Earth Is on Track to Warm Above 2C, Even With Climate Action: UN Report
Government plans to cut greenhouse gas emissions aren’t enough to avoid catastrophic global warming, with the planet on track to heat up between 2.1 and 2.9 degrees Celsius by the end of the century compared to pre-industrial times, according to …
Ex-Barclays Banker Hikes Claim for Damages Over Sexism, Working Hours to $4.6M
A former Barclays banker has raised a claim for damages against the bank over sexism and a failure to adjust her working hours to about 4 million pounds ($4.6 million) from 560,000 pounds, a court document seen by Reuters on …
Arizona Court: PTSD Claimant Missed Statute of Limitations for Bad Faith Claim
John C. France’s workers’ compensation claim cleared the way for Arizona first responders to receive workers’ compensation benefits for post-traumatic stress syndrome. But the former Gila County Sheriff’s Office sergeant cannot pursue a bad faith claim against the Arizona Counties …
Ping An Profit Falls 6.3% on Market Turmoil, Weaker Sales
Ping An Insurance (Group) Co., China’s second-largest insurer by market value, said profit dropped 6.3% in the first nine months as a slump in the stock market hurt investment returns and an economic slowdown hampered sales. Net income fell to …