INSURANCE NEWS
Starbucks Restores Scheduling App Taken Down by Hack to Vendor
Starbucks Corp.’s system for logging employee hours is back online nearly three weeks after a vendor hack had forced the company to keep track of schedules by hand. Starbucks worked with third-party software supplier Blue Yonder Group, which was hit …
Workers’ Comp Mega Claims Total $1B-Plus Yearly, Multiagency Study Shows
Mega claims in workers’ compensation represent far less than 1% of total workers’ comp claims yet account for more than 2% of total loss dollars, and total in excess of $1 billion each year, a new study from 10 state …
US Appeals Court Tosses Nasdaq Board Diversity Rules
A U.S. appeals court on Wednesday ruled that Nasdaq could not impose rules designed to increase diversity in corporate America by requiring companies listed on the exchange to have women and minority directors on their boards or explain why they …
Trump’s Antitrust Trio Heralds Big-Tech Crackdown to Continue
President-elect Donald Trump’s antitrust picks are likely to take a hard-line on the tech giants, and a harder line on corporate consolidation than the average Republican. All three of the new administration’s selections – Gail Slater as DOJ antitrust chief, …
Offshore Driller Asks Judge to Block Insurers’ Demands for $250M Collateral
W&T Offshore, an independent driller operating in the U.S. Gulf of Mexico, has asked a federal judge to block insurance companies’ demands for $250 million in additional collateral for taking apart old oil infrastructure. The offshore drilling industry faces mounting …
New York Considers Making Property Insurers Cover Taxi Claims Losses
New York is considering asking property and casualty insurers to cover the claims of insolvent taxi insurer American Transit Insurance Co., according to people familiar with the plans. That measure is one of several options under discussion as the state’s …
People Moves: HDI Global Promotes Schulte as Global Head of Marine; Amwins Global Risks Hires Ewing to Lead Transactional Risk Practice
This edition of International People Moves details appointments at HDI Global and Amwins Global Risks. A summary of these new hires follows here. HDI Global Promotes Schulte as Global Head of Marine HDI Global has promoted Dr. Carsten Schulte as …
Texas Sues Chemical Manufacturers for Deceptive PFAS Marketing
Texas Attorney General Ken Paxton filed a lawsuit on Dec. 11 against manufacturers 3M and DuPont for misrepresenting the health risks of products made with forever chemicals The lawsuit alleges the companies for decades manufactured, marketed, and sold an array …
Florida Board Revokes Butt-Lift Doctor’s License, Three Years After Patient Died
Florida’s Board of Medicine has revoked the medical license of a doctor who performed Brazilian butt-lift surgery, three years after his license was restricted after a botched surgery killed a patient. Dr. Christopher Walker, who had operated at a spa …
Digital Lloyd’s Syndicate Ki to Become Standalone Business Within Fairfax Group
Brit Ltd. and Ki announced that Ki will operate as a standalone company within the Fairfax Group, effective Jan. 1, 2025. Ki was incubated and launched by Brit in 2020 and began writing business on Jan. 1, 2021 with its …
Federal Court Affirms $14M Penalty Against Exxon for Pollution in Texas
A federal court on Wednesday affirmed a federal judge’s 2021 ruling imposing a $14.25 million penalty on Exxon Mobil for thousands of violations of the federal Clean Air Act at the company’s refinery and chemical plant complex in Baytown. The …
Aon and EBRD Launch €110M Facility to Provide Cover for War-Related Risks in Ukraine
Insurance broker Aon and the European Bank for Reconstruction and Development (EBRD) have structured a €110 million (US$115.6 million) facility to provide reinsurance capacity for international reinsurers and Ukrainian insurance companies to cover war-related risks in Ukraine. Under the Ukraine …