INSURANCE NEWS
Houston Plumbing Contractor to Pay $101K in Back Wages
The U.S. Department of Labor has recovered $101,690 in back wages and damages owed to 31 employees of a Houston plumbing contractor who paid them a salary but failed to pay an overtime premium for hours over 40 in a …
Salmonella Outbreak Tied to Egg Recall Sickens Dozens Across 7 States
A salmonella outbreak linked to a large egg recall has made dozens of people sick in seven states in the West and Midwest, federal health officials said Saturday. The August Egg Company recalled about 1.7 million brown organic and brown …
Expanding Missile Threats and Airspace Closures Are Straining Airlines
Proliferating conflict zones are an increasing burden on airline operations and profitability, executives say, as carriers grapple with missiles and drones, airspace closures, location spoofing and the shoot-down of another passenger flight. Airlines are racking up costs and losing market …
EU Proposes Nord Stream Ban, Lower Oil Cap to Hit Russia
The European Union proposed a ban on the Nord Stream gas pipelines and the reduction of an oil price cap as part of a new sanctions package that aims to pile pressure on Moscow to end its war against Ukraine. …
China’s Resort Island Hainan Braces for First Typhoon of Season
Hainan Island is bracing for the first typhoon of the season in the western Pacific, with the storm expected to dump heavy rain across parts of southern China as the system nears the coast. The tropical depression — named Wutip …
Trump Poised to Repeal Biden Curb on Power-Plant Pollution
he Trump administration will propose scrapping Biden-era climate mandates requiring the nation’s power plants to curb planet-warming greenhouse gas emissions as soon as Wednesday, according to people familiar with the matter. The Environmental Protection Agency is also set to advance …
Long-Term Thinking and Scale Keys to Travelers Success: CEO Schnitzer
When an S&P Global Ratings executive asked the leader of Travelers how current challenges like tariff uncertainty, inflation, geopolitical risks influence the insurer’s strategy, Alan Schnitzer delivered an answer than Larry Wilkinson may not have expected. “Really not much,” said …
People Moves: Canopius Hires AIG’s Losquadro to Lead Underwriting, Hull & Liability US
Canopius Group, headquartered in Chicago, appointed Tom Losquadro as vice president of underwriting for national hull and liability U.S. Losquadro brings extensive experience in marine insurance, having held senior roles at both AIG and Marsh McLennan. He joined Canopius on …
Goldman Sees Autonomous Vehicles Transforming Insurance World
The rise of autonomous vehicles will force a reconfiguration of the $400 billion US auto-insurance industry, as accidents caused by human error decrease and costs are slashed, but questions about liability remain, according to Goldman Sachs. “Autonomy has the potential …
Wildfire Season Preview: Rest of 2025 Is High-Risk, May Follow LA Wildfires Paradigm
Following the “paradigm-shifting” Los Angeles wildfires in January, the 2024-2025 wildfire season will be remembered as a turning point for the insurance industry, and a warning that “wildfire is no longer a seasonal or rural phenomenon, a new outlook asserts. …
Texas State Fire Marshal’s Office Announces Investigations Leading to Guilty Pleas
The Texas State Fire Marshal’s Office (SFMO), a division of the Texas Department of Insurance. announced three investigations that have led to guilty pleas: James Levorn Rias pleaded guilty to a first-degree murder charge following a May 2024 fire in …
People Moves: Burns & Wilcox Promotes Gatewood to EVP, Personal Insurance
Burns & Wilcox, a globally recognized leader in wholesale insurance brokerage headquartered in Farmington Hills, Michigan, promoted Bill Gatewood to executive vice president, personal insurance, effective July 1. Burns & Wilcox is a member of H.W. Kaufman Group, a privately …