INSURANCE NEWS
Supreme Court Lets Stand Ruling Curbing Bid-Rigging Prosecutions
The US Supreme Court left intact a ruling that curbs the Justice Department’s ability to use federal antitrust law to prosecute people and companies for bid-rigging, price-fixing and other collusion. The justices, without comment, turned away a Biden administration appeal …
Hub Acquires Texas’ ANCO Insurance
Hub International Limited announced that it has acquired the assets of ANCO Insurance Managers, Inc. (ANCO Insurance). Terms of the transaction were not disclosed. Headquartered in Bryan, Texas with six additional offices, ANCO Insurance is one of the largest independent …
Michigan Jury Awards $12M to Woman Fired for Refusing to Get COVID Vaccine
DETROIT (AP) — A jury awarded more than $12 million Friday to a woman who lost her job at a Michigan insurance company after declining to get a COVID-19 vaccination. Much of the award — $10 million — is for …
Obama Relatives Settle Racial Bias Suit With Private School in Milwaukee
Former first lady Michelle Obama’s brother and his wife have settled a lawsuit they filed in 2022 alleging a private school in Milwaukee refused to reenroll their children after the couple raised concerns about racism and inappropriate conduct at the …
Envelop Risk Launches Underwriting Division, Naming Ex-Dale Underwriter Peters CEO
Envelop Risk, the reinsurance managing general agent and analytics specialist, announced the launch of Envelop Underwriting, which will encompass all existing underwriting activities: Envelop Risk Bermuda and Envelop at Lloyd’s, including the Envelop Risk SPA 1925. Dom Peters has agreed …
Suvivors Want to Rebuild Safer, But Cost Misperceptions Can Stand in the Way
As Florida and the Southeast begin recovering from 2024’s destructive hurricanes, many people are asking: How can we rebuild sustainably and in a way that avoids the same damage, costs and trauma in future storms? There are proven ways to …
Containment Increases on California Blaze That Has Destroyed at Least 168 Structures
Firefighters battled strong driving a fast-moving Southern California wildfire that forced the evacuations of thousands of people and destroyed at least 168 structures. Containment of the Mountain Fire in Ventura County increased to 48%. The fire has now burned 20,630 …
Chipotle Shareholders Sue Over Fallout From Skimping on Portion Sizes
Chipotle Mexican Grill was sued on Monday by shareholders for concealing how many of its restaurants were skimping on portions, forcing the chain to spend more on ingredients and hurting its stock price. In a proposed class action filed in …
Meta’s Zuckerberg Not Liable in Lawsuits Over Social Media Harm to Children
A federal judge said Meta Platforms CEO Mark Zuckerberg is not personally liable in 25 lawsuits accusing his company of addicting children to social media. U.S. District Judge Yvonne Gonzalez Rogers in Oakland, California rejected accusations on Thursday that Zuckerberg …
People Moves: Everest Promotes Davis to Lead Reinsurance Global Specialties Business; Miller Names Armitage and Gorman for Professional & Financial Lines
This edition of International People Moves details appointments at the Everest Reinsurance and the broker Miller. A summary of these new hires follows here. Everest Reinsurance, the reinsurance division of Bermuda-based Everest Group Ltd., announced that Emily Davis has been …
UK Motor Insurer Direct Line to Cut 550 Jobs in Turnaround Bid
Direct Line Insurance Group Plc, the UK insurer that rejected a takeover attempt by Belgian rival Ageas SA earlier this year, is set to cut about 550 jobs as part of a turnaround plan aimed at saving £50 million ($64 …
Global Warming Is Already on the Cusp of 1.5C, New Research Finds
A newly proposed method for calculating the global temperature suggests that countries may have already failed their main climate goal: to limit warming to below 1.5C. Scientists using the method say the world was 1.49C hotter than in pre-industrial times …