INSURANCE NEWS
Lyft to Pay $2 Million to Resolve FTC Suit Over Driver Pay
Lyft Inc. agreed to pay $2.1 million to resolve a lawsuit by the US Federal Trade Commission accusing the ride-hailing company of deceiving drivers about how much they would earn when consumer demand picked up after the pandemic. The agency …
Connecticut Declares State of Emergency, Burn Ban Due to Severe Fire Conditions
The state of Connecticut on Saturday instituted a ban on the use of outdoor grills, firepits, and campfires, and the kindling and use of flame outdoors in all state parks, forests, and wildlife management areas due to statewide severe fire …
Rebuilding from Hurricanes Hinges on Immigrants at Center of US Election
The efforts to rebuild in Southeastern states after a pair of destructive hurricanes are at risk of being drawn out by shortages of a critical supply of workers: migrants. Builders are anxious about proposals laid out by Donald Trump that …
UN Climate Chief Warns of Looming ‘Trainwreck’ as 1.5C Warming Limit in Doubt
The world is on course to miss a target for cutting emissions this decade by an overwhelming amount, new UN analysis shows, meaning more dangerous global warming is likely. Total emissions of CO2 into the atmosphere in 2030 will only …
Gas Stoves Linked to 40,000 Premature Deaths in Europe Annually
Gas stoves in European homes are associated with tens of thousands of premature deaths, a study has found. Nearly 40,000 early deaths each year in the EU and UK can be linked to exposure to nitrogen dioxide from burning gas …
Arthur J. Gallagher & Co. Acquires Australia’s Via Financial Group
Arthur J. Gallagher & Co., the Rolling Meadows, Illinois-headquartered broker, announced the acquisition of Australia’s Via Financial Group Pty Ltd. Terms of the transaction were not disclosed. Based in Sydney, New South Wales, Via Financial Group provides financial planning, wealth …
Brazil Seals $30 Billion Compensation Deal With BHP, Vale Over 2015 Dam Collapse
Brazil on Friday signed a 170 billion reais ($29.85 billion) compensation agreement with miners BHP, Vale, and Samarco for the Mariana dam collapse in 2015, one of the country’s worst environmental disasters. The collapse of the dam at the iron …
Broker Insights’ ‘Decision Intelligence’ Officially Heads to the US
After building it business up in the United Kingdom, Broker Insights said it is ready to officially bring its commercial insurance placement analytics to the United States. For the last 12-18 months, Broker Insights has been preparing for its expansion …
Economic, Social Inflation Influence Drop in Commercial Auto UW Profits: Triple-I/CAS
Commercial auto insurance has struggled to achieve underwriting profitability, even before inflationary conditions affected property/casualty lines in recent years. The trend has been accompanied by steady growth in net written premiums (NWP), according to the Insurance Information Institute (Triple-I), an …
US Investigating Breach of Telecoms by China-Linked Hackers
The US government said Friday it was investigating unauthorized access by Chinese state-affiliated hackers targeting the commercial telecommunications sector. The FBI and the Cybersecurity and Infrastructure Security Agency said they had identified specific malicious activity by actors affiliated with the …
Universal, AmCoastal Report Some Costs from Helene, Milton for Q3
One of Florida’s largest property insurers and one of its smaller carriers reported losses at least partly related to Hurricane Helene, which landed just before the third quarter closed, and from Hurricane Milton, which struck less than two weeks later. …
Lawsuits Claim Children Were Sexually Abused in Pennsylvania Juvenile Facilities
A set of lawsuits was filed last Wednesday by people who claim they were sexually abused inside Pennsylvania juvenile detention and treatment facilities, making more than 200 people to have launched such cases since May. The New York-based Levy Konigsberg …