INSURANCE NEWS
Italy Insurance Watchdog Needs More Details of Generali-Natixis Deal, Sources Say
Italy’s insurance regulator IVASS needs more details about internal control and governance systems as it reviews domestic leader Generali’s proposed asset management tie-up with French bank BPCE, two sources close to the matter told Reuters. Generali, Europe’s fourth-largest insurer, signed …
Swedish Insurer Folksam Divests $160 Million Tesla Stake
Sweden’s largest insurer Folksam said on Wednesday it has sold its stake in electric car maker Tesla over concerns about the company’s stance on workers’ rights. Tesla, headed by billionaire Elon Musk, is facing a backlash from unions and some …
Bain-Backed Esure Eyes UK Growth After £200 Million Revamp
UK home and motor insurance firm Esure Group Plc sees further growth in the country after a £200 million ($258 million) revamp program, according to its Chief Executive Officer David McMillan. The company, backed by private equity firm Bain Capital, …
US House Democrats Open Investigation Into Kennedy Bird Flu Response
Democrats on the U.S. House of Representatives oversight committee opened an investigation on Tuesday into health secretary Robert F. Kennedy Jr.’s handling of the federal response to bird flu, according to a letter sent to Kennedy and released by the …
FCC Chairman Orders DEI Investigation Into Disney, ABC
The head of the Federal Communications Commission ordered an investigation into Walt Disney Co. and its ABC network over their diversity, equity and inclusion practices, broadening his examination of media and telecom companies for perceived discriminatory biases. FCC Chairman Brendan …
Majority of Small Biz Leaders Think AI Will Play ‘Crucial Role’ in Work Safety
More than half of small business leaders believe artificial intelligence will play a “crucial role” in worker safety over the next five years, according to a new report from Pie Insurance. A survey of decision-makers from just over a thousand …
North Carolina Commissioner Settles Mobile Home Rate Increase at 11%
North Carolina Insurance Mike Causey said Tuesday that he had negotiated a lower average rate increase for mobile home policies than the North Carolina Rate Bureau had asked for. “I am happy to announce that North Carolina mobile homeowners will …
Getty Museum to Sell $500 Million of Debt for Fire Protection
One of California’s most famed art institutions, the Getty, is turning to the bond market for $500 million to help preserve its masterpieces as the state prepares for another fire-prone summer. The J. Paul Getty Trust is expected to sell …
BlackRock Plans for Texas ETF Amid Its Push Into Lone Star State
BlackRock Inc. is going even bigger in Texas. The world’s biggest asset manager applied for the iShares Texas Equity exchange-traded fund, according to a Friday filing with the Securities and Exchange Commission. The planned ETF would be passively managed and …
J&J Plunges After Plan to Settle Baby Powder Suits Fails
Johnson & Johnson shares fell the most in five years after the company’s plan to settle thousands of talc-related lawsuits through bankruptcy was shot down in court. The ruling means J&J will have to fight roughly 60,000 claims brought by …
People Moves: JM Wilson Promotes Staruch, Dodd and Ladik and Re-Hires Snyder-Knutson; Huntington Hires Weaver as Senior Director of P&C
JM Wilson Promotes Staruch, Dodd and Ladik and Re-Hires Snyder-Knutson JM Wilson, headquartered in Portage, Michigan, Natalie Staruch was promoted to executive property & casualty (P&C) underwriter. She underwrites new and renewal commercial risks, working with carrier underwriters and independent …
Another Kentucky Farmer Pleads Guilty to Crop Insurance Fraud
A Kentucky farmer is awaiting sentencing after pleading guilty to defrauding the federal crop insurance program of almost $1.5 million. Robert Thomas Hunt, of Taylor County in central Kentucky, asked grain haulers to sell his soybean, corn and wheat under …