INSURANCE NEWS
Countertop Maker in Georgia Fined for Exposing Workers to Silica Dust
The federal Occupational Safety and Health Administration fined a Georgia countertop maker $33,000 for allegedly exposing workers to high levels of silica dust, which causes silicosis and other respiratory ailments. Brazilian Stone Design, in Powder Springs, which makes and sells …
Georgia Commercial Lender Owner Charged With $140M Ponzi Scheme
NEWNAN, Ga. (AP) — A prominent Georgia Republican was running a Ponzi scheme that defrauded 300 investors of at least $140 million, federal officials alleged in a complaint filed Thursday. The civil lawsuit by the U.S. Securities and Exchange Commission …
How Northeast States Will Share in $720 Million Opioid Settlement With 8 Firms
States have secured about $720 million in settlements from eight pharmaceutical companies accused of fueling the opioid epidemic. The settlement was achieved as part of a nationwide collaborative effort by state attorneys general. Individual states’ ultimate shares of the $720 …
Microsoft Outlook Users Experience Hourslong Outage Impacting Email
After Outlook users ran into issues accessing their email accounts late Wednesday and into Thursday, Microsoft says that affected systems are back online. Microsoft 365 first said that it was investigating an issue with Outlook Wednesday night, and later shared …
How Carriers Can Win More Retail Broker Biz: Report
By segmenting retail brokers into tiers using premium volume, profitability and strategic alignment as factors to define top tiers, carriers can start to win more business, according to a new consulting firm report. The report, How Insurers Can Win More …
People Moves: Consilium Taps Carpenter’s Coleman for C-Suite After Co-CEO Baird Suddenly Exits; Everest Promotes Shaw as Chief Commercial Officer of Int’l Division
This edition of International People Moves details appointments at the broker Consilium and Everest’s International Insurance Operation. A summary of these new hires (and one exit) follows here. Consilium Taps Carpenter’s Coleman for C-Suite, as Co-CEO Baird Is Removed Consilium, …
Gun Makers Lose Appeal of New York Law Making Them Potentially Liable for Shootings
A New York state law holding gun manufacturers potentially liable when their weapons are used in deadly shootings was upheld Thursday by a federal appeals court. The ruling Thursday by the 2nd U.S. Circuit Court of Appeals in Manhattan affirmed …
Markets/Coverages: Aon Launches Insurance Facility for Full Lifecycle of Data Centers
Insurance broker Aon plc announced the launch of its Data Center Lifecycle Insurance Program (DCLP), a proprietary multi-line insurance facility designed to help clients manage risk across every stage of data center development and operations. As global investment in digital …
Red Sea Insurance Premium Spikes as Houthi Risks Return
The cost of insuring commercial ships that sail past Yemen’s Houthi militants surged after the rebels sank two ships and killed sailors this week, underscoring how the attacks have revived risk in the crucial waterway. Shipowners now have to pay …
European Commission to Propose Floating Russian Oil Price Cap
The European Commission is expected to propose a floating Russian oil price cap this week as part of a new draft sanctions package in an attempt to overcome opposition from some member states, four EU diplomats said. The Commission proposed …
US Faces More Extreme Weather Events, but Is Society Doing Enough?
After deadly flooding in central Texas in 1987, some thought they’d proven they could handle Mother Nature’s best punch. Then came this month’s horrific flash floods, when unfathomable amounts of rain fell in only hours and more than 100 people …
CSU Hurricane Season Forecast Adjusted to ‘Slightly’ Above Normal
The team of hurricane researchers at Colorado State University shaved off a storm from its original Atlantic hurricane season forecast, and now sees a “slightly” above normal season. High levels of observed Caribbean wind shear, which break up storms, is …