INSURANCE NEWS
Disney Settles Suit Over Women’s Pay for $43 Million
Walt Disney has agreed to pay $43.3 million to settle a lawsuit alleging that its female employees in California earned $150 million less than their male counterparts over an eight-year period, the plaintiffs’ lawyers said in a statement on Monday. …
EU Seeks to Streamline ESG Regulations Amid Growing Backlash
The next European Commission will urgently seek to streamline the bloc’s many environmental, social and governance rules, as it responds to complaints that excessive regulations are gutting industry competitiveness. Simplification will be at the center of the incoming commission’s work, …
Insurer Says Pollution Exclusion Sinks Coverage for Pool Chemical Injuries
A commercial general liability policy with a pollution exclusion does not protect a Virginia homeowners association from lawsuits filed by swimmers alleging they were injured by chemicals discharged into the community pool. That is the argument made by Philadelphia Indemnity …
Oak Reinsurance Gets Permission From Lloyd’s to Begin Underwriting in January
Oak Reinsurance (OAK Re), the London-based reinsurance company, announced that its Lloyd’s Syndicate 2843 has received permission to begin underwriting business incepting from Jan. 1, 2025. This follows the approval in principle that was received in September 2024. OAK Re …
Ransomware Hits Supply Chains Software Firm Blue Yonder
Blue Yonder, a provider of supply chain software to manufacturing, logistics, and retail customers said it has been working “around the clock” to address disruptions caused by a ransomware incident. Blue Yonder said it “experienced disruptions to its managed services …
Striking Charlotte Airport Workers Could Affect Travel Plans This Week
Service workers at Charlotte Douglas International Airport, one of the nation’s busiest, went on strike this week just as the heaviest travel period of the year kicks off. News outlets reported that employees with ABM and Prospect Airport Services, who …
Markets/Coverages: McGill, TMK and Convex Launch Trade Disruption Facility
McGill and Partners, the London-based global specialty insurance and reinsurance broker, has launched a new trade disruption insurance facility in collaboration with Tokio Marine Kiln (TMK) and Convex, offering limits of $95 million, led by TMK. This offering harnesses the …
EU Proposes to Sanction Chinese Firms Aiding Russia’s War
The European Union is proposing to sanction several Chinese firms that it claims helped Russian companies develop attack drones that were deployed against Ukraine. The European Commission, the EU’s executive arm, is also looking into imposing restrictions on additional Russian …
DHL Cargo Plane Crashes Near Vilnius Airport, Killing One
A DHL cargo plane flying from Germany to Lithuania crashed close to Vilnius Airport, killing a crew member and injuring three others, according to police. The Boeing 737-400, which took off from the eastern German city of Leipzig, went down …
Best Agency to Work For – West Gold Winner: Morris & Garritano
Want a simple, yet effective agency management tip for making your employees happy? Treat them like customers. That mindset stood out among comments from employees who nominated Morris & Garritano in Insurance Journal’s 2024 Best Agency to Work For survey. …
FTC, Meta Face April Trial Over Suit to Break Up Company
Meta Platforms Inc. faces an April 14 trial in the Federal Trade Commission’s long-running antitrust lawsuit to break up the company. US District Judge James Boasberg ruled Monday that the trial will take place in Washington next year. The FTC’s …
Viewpoint: As Insurance Losses Outpace Premiums, State Regulators Play a Critical Role
Along with the rising cost of living in many facets of families’ daily lives, property insurance availability and affordability continue to be a challenge across the U.S. Inflation has been persistently increasing repair, labor, and medical costs. And legal system …