INSURANCE NEWS
Tesla Faces New Lawsuit Alleging Racial Abuse Against Black Workers
Fifteen Black former or current employees at Tesla filed a lawsuit against the electric car maker on Thursday, alleging they were subjected to racial abuse and harassment at its factories. The workers said they were subjected to offensive racist comments …
Operator of McDonald’s Franchises Consents to $1.6M Settlement of Sex Harassment Suit
Coughlin, Inc., a Vermont-based company that owns 10 McDonald’s franchise restaurants in Vermont and New Hampshire, will pay $1,600,000 and furnish other relief to settle a sex discrimination and retaliation lawsuit filed by the Equal Employment Opportunity Commission (EEOC), the …
Brand Appointed Group CEO of Convex
The Board of Convex Group Ltd., the Bermuda-based specialty re/insurer, announced that Paul Brand, who founded the business in 2019 with Stephen Catlin, will become group CEO with effect from July 1, 2022. Brand has been deputy CEO since Convex …
ESG Managers Say Wave of Probes, Scorn Heralds Better Days Ahead
ESG investment strategies are being probed for deceptive labeling, criticized for excluding firms like Tesla Inc. and questioned as to whether they actually work. All this, some sustainable fund managers said, could be a good thing. Tough scrutiny of loosely-regulated …
U.S. Supreme Court Limits Federal Power to Curb Carbon Emissions
Conservative justices power 6-3 ruling; liberals dissent Ruling curbs EPA ability to regulate power plant emissions Biden vows to tackle climate change despite the ruling The U.S. Supreme Court on Thursday imposed limits on the federal government’s authority to issue …
Governor, Florida Cat Fund Board Agree to Raise Premiums for Insurers
Florida property insurers have another cost increase to manage after the Florida Hurricane Catastrophe Fund was approved for a premium increase. The fund’s governing body, the State Board of Administration, this month gave final approval to the formula used to …
Gone with the Flo: Progressive Stops Writing DP-3 Policies in Florida
Eight months after it stopped renewing homeowners and rental property policies in Florida, Progressive Insurance announced it will now stop writing new dwelling-fire business in the distressed Florida market. “To ensure a long-term future in Florida, Progressive Home is temporarily …
Family blames fatal wreck on PennDOT’s failure to fix ditch
Matt Neidlinger crested the hill of a narrow, twisty state road and found a nasty surprise waiting for him at the bottom. The ditch was a couple of feet wide and spanned both lanes, and Neidlinger barely had time to …
PCF Acquires MGA United Underwriters in Utah
PCF Insurance Services acquired Utah-based property/casualty managing general agent United Underwriters. United Underwriters offers agencies across the Western United States P/C MGA services and programs including homeowners, renters, dwelling, commercial, personal umbrella, earthquake and auto insurance. Lehi, Utah-based PCF is …
Survey: Broad Support for Renewables, Gap in Climate Change Awareness
There is overwhelming public support across the globe for using renewable energy, according to a new survey out from the Yale Program on Climate Change Communication. The international survey was published on Wednesday. It was conducted in partnership with Data …
Court Orders New Trial in Insurance Exec Convicted of Bribing NC Commissioner
It may seem a minor point to some, but it’s fundamental to the American system of justice, advocates said: It’s up to a jury – not a judge – to decide what is considered an “official act” by a state …
People Moves: AXA XL Promotes Dores for Int’l Financial Lines; BMS Builds Out Casualty With Hires From Tysers; WTW Taps RenRe’s Modhvadia for Structured Risk
This edition of International People Moves details appointments at AXA XL, BMS and WTW. A summary of these new hires follows here. AXA XL Promotes Dores to CUO, Int’l Financial Lines – APAC & Europe AXA XL Insurance announced it …