INSURANCE NEWS
EU to Soften Emissions Curbs on Companies in Flagship Market
The European Union is set to relax emissions-reduction rules for thousands of companies, recalibrating the world’s most rigorous carbon market under pressure from industry and governments concerned about the region’s sinking competitiveness. Before a summit of EU leaders next week …
Portugal Rolls Out €2.5 Billion Aid as Deadly Flooding Spreads
Portugal’s government approved a set of emergency laws to speed reconstruction after deadly flooding, clearing administrative hurdles as part of a €2.5 billion ($2.9 billion) support package in one of the largest disaster-relief efforts ever mobilized by the country. The …
EU Commission Proposes Further Sanctions on Russian Oil Trade and Financial Services
The European Union’s executive arm proposed further sanctions against Russia on Friday over the Ukraine war, including a ban on shipping services that help Moscow’s oil industry and measures targeting the country’s financial services and trade sectors. European Commission President …
TikTok Charged for Breaching EU Rules With App’s Addictive Features
TikTok was charged on Friday with breaching EU online content rules over what the bloc’s regulator said were its addictive features and was told to change the design of its app or risk a fine of as much as 6% …
EU Discloses January Cyberattack That Exposed Some Staff Data
The European Union’s executive arm said it detected a recent cyberattack that may have exposed limited staff contact details, but that no devices were compromised. The incident was detected on Jan. 30 by the central infrastructure team that manages mobile …
Nationwide Acquires Surety, Fidelity Renewal Rights From Main Street America
Columbus, Ohio-based Nationwide announced Feb. 5 that it entered into an agreement to acquire the renewal rights for surety and fidelity bonds issued by Main Street America Insurance, a unit of American Family Insurance. Terms of the deal were not …
US Appeals Court Rejects Challenge to Trump’s Efforts to Ban DEI
A federal appeals court on Friday rejected a challenge to a move by President Donald Trump’s administration to ban diversity, equity and inclusion programs at federal agencies and businesses with government contracts. A three-judge panel of the Richmond, Virginia-based 4th …
Florida Bill Would Allow High School Class in Place of CSR Ed Requirements
A bill moving swiftly through the Florida House of Representatives could help ease the shortage of customer representatives at insurance agencies by waiving longstanding education requirements. House Bill 1343 would allow insurance customer representatives to forego the courses now required …
Florida’s Commercial Clearinghouse Bill Stirring Up Concerns for Brokers, Regulators
A bill moving steadily through the Florida Legislature has suddenly ignited a storm of controversy, with some insurance agents and brokers worried it could benefit one large brokerage while costing others fees and flexibility on takeouts of Citizens Property Insurance …
Trump Demands $1 Billion From Harvard as Prolonged Standoff Appears to Deepen
President Donald Trump is demanding a $1 billion payment from Harvard University to end his prolonged standoff with the Ivy League campus, doubling the amount he sought previously as both sides appear to move further from reaching a deal. The …
Fire at Pennsylvania Hospital Forces Evacuation of Dozens of Patients
A fire tore through a northeastern Pennsylvania hospital, sending smoke billowing into the air as dozens of patients were evacuated and emergency medical crews were rushed in from across the region, authorities said. No one was reported injured by the …
Freight Train Derails in Connecticut, Sending Cars Carrying Liquid Propane Into River
A freight train derailed Thursday in Connecticut, sending cars carrying flammable liquid propane into the water, though officials say they don’t appear to be leaking. Local and state officials said the derailment happened around 9 a.m. in Mansfield, near where …