INSURANCE NEWS
Workplace Flexibility Is Key to Employee Retention: Research
Less than a month after Amazon announced employees would need to give up their flexible work arrangements and return to the office full-time, new research has reinforced the value of a flexible work culture. The 2024 Employee Benefits Review, by …
Russia and Iran Are Ramping Up Threats to UK, Spy Chief Warns
Threats to the UK from Russia and Iran and the danger posed by the Islamic State group have increased in recent months, according to the head of Britain’s domestic spy agency. Ken McCallum, the director-general of MI5, said the security …
Predictive Model Delivers Insights as Insurers, Reinsurers Brace for More Civil Unrest
Executive Summary: Insurers and reinsurers are responding to heightened risks of civil unrest with better calculations of their probable maximum losses, careful risk pricing, clear contractual wordings, and by using new modeling tools to help grasp this potentially costly risk. …
Global Emissions Likely Have Peaked as Renewables Take Hold
The world is choking from emissions more than ever, but that trend is set to reverse starting next year as the cost of solar panels and batteries crowd out coal and stunt the growth of oil, a new report says. …
Unlicensed Work Does Not Void Contract With Condos, Florida Appeals Court Says
Being unlicensed as a contractor in Florida does not necessarily void a storm-remediation contract, a Florida appeals court said in a decision that could affect insurance defense strategy in hurricane claims. “This shows that it’s really important to know the …
California Household Goods Maker Settles with EPA for $250K for Sale of Unregistered Disinfectants
The U.S. Environmental Protection Agency got a settlement from Gardena, California-based U.S. Jaclean Inc. over claims of illegal distribution or sale of unregistered and misbranded disinfectants and other pesticide products. The sale and distribution of such products violates the Federal …
Shareholders of Taiwan’s Shin Kong Approve Merger With Taishin
Shareholders in Taiwan financial conglomerate Shin Kong on Wednesday voted to approve a merger with peer Taishin. Shin Kong’s management has repeatedly said they viewed Taishin as their preferred bidder. Another Taiwanese financial conglomerate, CTBC 2891.TW, last month dropped its …
How Texas Weakened Its Own Air Pollution Monitoring Team
When disaster affects the sprawling industrial complexes of Texas, the state’s environmental authority often posts pictures online of its white vans patrolling public streets, verifying the local air is safe to breathe. The Texas Commission on Environmental Quality calls this …
Utilities’ Extreme Plan to Stop Wildfires: Shut Off the Power
A growing number of utilities are resorting to an extreme measure to prevent their equipment from sparking catastrophic wildfires: turning off the power. Electric companies serving about 24 million homes and businesses across the fire-prone US West now have plans …
Hub Acquires Missouri’s AIG Agency
Hub International Limited (Hub) announced that it has acquired the assets of AIG Agency Inc. (d/b/a Associated Insurance Group). Terms of the transaction were not disclosed. Located in Maryland Heights, Missouri, Associated Insurance Group is an independent insurance agency providing …
No Sovereign Immunity for Virginia City or Truck Driver In-Between Garbage Pick-Ups
The Virginia Court of Appeals has ruled that a trial court erred in finding that a garbage truck driver and the city of Chesapeake were shielded by sovereign immunity for their role in an accident caused by the truck driver …
Illinois Manufacturer to Pay $1.3M After Plant Explosion
Chemical products manufacturer AB Specialty Silicones LLC will pay $1.3 million in penalties after an explosion and fire at its Waukegan, Illinois plant in May 2019 claimed the lives of four workers. The U.S. Department of Labor’s Occupational Safety and …