INSURANCE NEWS
Labor Commissioner Says California Crop Lien Law Helped Recover Farmworker Wages
An expanded crop lien law that strengthens existing farmworker protections and gives the California’s Labor Commissioner’s Office the ability to recover unpaid wages quickly was recently put in action. The LCO, which launched an investigation into wage-and-hour violations in May, …
EU Countries Plan to Seek More Free Carbon Permits for Industry
European Union member states will push for more free carbon allowances for major industries to better protect companies struggling with tough global competition and rising energy costs. The bloc’s 27 member states will this week seek to agree on a …
Abbott to Pay $385 Million to End Claims Over Infant Formula
Abbott Laboratories agreed to pay $385 million to settle U.S. allegations related to poor manufacturing practices at two facilities, including one involving an investigation of a contaminated facility that made powder infant formula. The accord resolves claims that the company …
King Charles to Host AI Executives as Threat Fears Mount
Britain’s King Charles will host the leaders of major artificial intelligence companies this week to discuss whether a shared set of principles is needed to guide a technology that has sparked growing warnings about its threat to humanity. With the …
California Governor Signs Act to Create Smoke Damage Presumption
California Gov. Gavin Newsom on Tuesday signed legislation establishing standards for investigating, testing and restoring smoke-damaged homes. Newsom signed Assembly Bill 1795, the Smoke Damage Recovery Act. The bill, authored by Assemblymember Mike Gipson and sponsored by California Insurance Commissioner …
Iowa DIFS Names Pearce as Acting Deputy Insurance Commissioner for Market Regulation
The Iowa Department of Insurance and Financial Services announced the appointment of Julie Pearce as Acting Deputy Insurance Commissioner for Market Regulation. Pearce brings over 19 years of extensive insurance and financial services experience spanning Life, Annuity, and Property & …
Texas Utility Discloses Customer Data Breach in SEC Filing
CenterPoint Energy CNP.N said in an SEC filing on Monday that the company had become aware in September of an online post by a third party claiming to have obtained a dataset of information on some of its customers. The …
Insurance Companies Join Letter to Push TPLF Disclosure in Federal Courts
Insurance executive and counsels joined in with those from more than 200 companies that submitted a letter to a federal court rules committee urging the development of a third-party litigation funding (TPLF) disclosure requirement. According to a group called the …
NFP Acquires Minnesota’s Moores
NFP announced the acquisition of Moores Insurance Management, Inc., a multi-disciplinary risk management firm based in Minneapolis, Minnesota. Mark Moores, CEO of Moores, will join NFP as senior vice president, Commercial P&C, reporting to Amanda Ruback, managing director of P&C …
Texas Challenger to Nasdaq, NYSE Lands Fifth Company in a Week
Texas Capital Bancshares Inc. will switch its primary listing to the Texas Stock Exchange from Nasdaq, making it the fifth company in a week to jump to the upstart marketplace. The Dallas-based financial services provider expects to begin trading on …
Ryan Specialty Unit Withdraws Protest Over FL Commercial Clearinghouse Contract
Ten days after giving notice that it planned to protest the awarding of a contract to manage a clearinghouse for Florida’s Citizens Property Insurance commercial policies, Ryan Services Group has withdrawn the notice. It’s not that unusual, a Citizens official …
Magnum Says Ben & Jerry’s Chair Fostered Toxic Culture
Ben & Jerry’s former independent chair Anuradha Mittal was “abusive, discriminatory and unprofessional” and fostered a toxic culture before she stepped down from the board earlier this year, according to a legal filing by Magnum Ice Cream Company. In one …