INSURANCE NEWS
South Korea Contains Main Blazes in Week-Old Forest Fires
South Korean authorities have contained the main blazes in the country’s largest forest fire on record, a minister said on Friday, as rain and better weather allowed more helicopters to fly and dump water, dousing the flames. Spread by strong …
Italian Fund Managers Add to Uncertainty in Generali Board Tussle
A group of Italian fund managers said on Friday it would put forward four candidates for the new board of Generali, adding to uncertainty over the outcome of a key shareholder vote at the country’s biggest insurer. A shareholder clash …
Arctic Sea Ice Shrinks to Record Winter Low as Earth Heats Up
The Arctic Ocean likely had the smallest winter ice cover in 47 years of satellite records this season, with just 5.53 million square miles of sea ice covering the region at its peak on March 22. That’s 510,000 square miles …
People Moves: Cotton Named COO at Mangrove, Thomas VP at Summit
The recently formed, Florida-based Mangrove Property Insurance Co. has named former Olympus Insurance COO as chief operating officer and elevated four others to management roles at the startup. Tim Cotton, who spent almost four years at Olympus as COO and …
Italy’s No. 2 Insurer Unipol Aims to Boost Bank Distribution Channel
Italian financial group Unipol aims to generate 1 billion euros ($1.1 billion) in capital over the next three years to boost its finances and have money for investments. Unveiling its “Stronger/Faster/Better” plan for 2025-2027, Italy’s second biggest insurer said on …
Consumer Watchdog Seeks to Vacate Discrimination Case it Already Won
The top U.S. consumer finance agency on Wednesday asked a court to undo an enforcement case which the watchdog had already won last year, accusing prior agency officials of abusing their power as they sought to enforce diversity, equity and …
NHTSA Probes More Than 2 Million Hondas Over Engine Restarting Concerns
The National Highway Traffic Safety Administration said on Friday it was opening an engineering analysis into 2.2 million Honda vehicles over concerns related to its engine restarting. Complainants allege the engine fails to restart on its own from a complete …
Study: Economic Uncertainty Diverting Executive Attention From Sustainability
It’s the economy stupid, and it seems that a lot of executives are using their brain power on their current worries rather than on the climate concerns of tomorrow—despite those concerns materializing in the here and now. Executives are focused …
Fla. House Subcommittees Vote to Repeal PIP Law, Pass Two Other Insurance Bills
The Florida House subcommittee on insurance advanced two hotly debated bills Thursday, one supported by insurance agents but another that was opposed by agents and carriers alike. And another subcommittee voted to repeal the auto insurance personal injury protection law …
Family of Ironworker Who Died on Job Awarded $12 Million
A Pennsylvania cement company has agreed to pay $12 million to the family of an ironworker who fell to his death while attempting to set up a temporary catwalk at the company’s plant in Stockertown. In July 2021, the decedent …
Trucking Firm Operator Who Lied About Safety History to Regulator Is Sentenced
The operator of an interstate trucking company who was convicted by a federal jury of making false statements to federal regulators about the company’s safety rating has been sentenced to 45 months in prison. Prosecutors identified the man as Tony …
A Look at Some Numbers Behind Delaware’s Law for Corporations
Delaware is poised to give corporate officers more protections in its courts against shareholder lawsuits after criticism by billionaire Elon Musk and other influential business titans that rattled top public officials in what they call the corporate capital of the …