INSURANCE NEWS
CFPB Sues Walmart, Scheduling Platform for Alleged Illegal Pay Practices for Gig Drivers
The Consumer Financial Protection Bureau has sued Walmart and work scheduling platform Branch Messenger for allegedly forcing delivery drivers that are part of the discounter’s gig program to use costly deposit accounts to get paid and mispresented how they could …
Drivers Skid and Crash as Wintry Mix Blasts Central US
Road conditions were deteriorating over the weekend in the central U.S. as a winter storm brought a mix of snow, ice and plunging temperatures, with forecasts calling for the dreaded combo to spread eastward in the coming days. “Winter returned,” …
Relation Acquires Illinois’ Forest
Relation Insurance Services acquired the assets of Forest Insurance Agency. The transaction went into effect on December 1, 2024; terms of the transaction were not disclosed. Specializing in personal and business insurance, Forest is based in Forest Park, Illinois. The …
AM Best: Increasing Political, Terror Risk Could Lead to More Demand for Coverage
Authorities have said there is no evidence that the truck attack in New Orleans on New Year’s Day was directed by the Islamic State but the incident – as well as the same-day truck explosion outside a hotel in Las …
Fire in Dallas Shopping Center Kills Hundreds of Animals
DALLAS (AP) — A fire that broke out at a shopping center in Dallas on Friday morning killed more than 500 animals, most of which were small birds, authorities said. The 579 animals in the pet shop at Plaza Latina …
Global Property Catastrophe Rates-on-Line Down 6.6% During Renewals: Guy Carpenter
Guy Carpenter reports that average global and regional property catastrophe rates-on-line decreased during the January 2025 renewals in amounts ranging from 5.3% to 7.2%. Guy Carpenter defines rate on line (ROL) as the cost of reinsurance based on premium as …
US Steel, Nippon Sue Biden Administration Over Decision to Block Merger
U.S. President Joe Biden violated the Constitution by blocking Nippon Steel’s $14.9 billion bid for U.S. Steel through a sham national security review, the companies alleged in a lawsuit they said was filed on Monday. The companies want the federal …
Deadly Accident Has Hawaii Officials asking to End Amateur Fireworks Shows
In recent years, occasions large and small — parties, Super Bowls, mixed martial arts fights, even Thanksgiving — have provided a reason for residents across Hawaii to set off illegal fireworks. The increasingly sophisticated displays, loved by some and loathed …
Russia-Appointed Officials in Crimea Declare Emergency as Oil Spill Reaches Sevastopol
Russia-appointed officials in Moscow-occupied Crimea announced a regional emergency on Saturday, as oil was detected on the shores of Sevastopol, the peninsula’s largest city. Fuel oil spilled out of two storm-stricken tankers nearly three weeks ago in the Kerch Strait, …
Taiwan Says Chinese Ship Broke Subsea Cable in Alleged Sabotage
Taiwan suspects a Chinese-owned cargo vessel damaged an undersea cable near its northeastern coast Friday, in an alleged act of sabotage that highlights the vulnerabilities of Taipei’s offshore communications infrastructure. The ship is owned by a Hong Kong-registered company whose …
The Institutes, Kevelighan Fire Back at Retaliation Claims by Former Triple-I Employee
The Institutes and Sean Kevelighan, chief executive of the Insurance Information Institute, deny the allegations of discrimination and retaliation from former employee Michael Barry. According to a filing in U.S. District Court for the Southern District of New York, Triple-I …
Arthur J. Gallagher & Co. Acquires Canadian Broker Encore Group
Arthur J. Gallagher & Co., the Rolling Meadows, Illinois-based insurance brokerage, announced the acquisition of Waterloo, Ontario-based Encore Insurance Services Inc., dba Encore Group. Terms of the transaction were not disclosed. Encore Group is a retail insurance brokerage firm serving …