INSURANCE NEWS
Wiz Rejects Google’s $23 Billion Offer, Seeks IPO Instead
Cybersecurity startup Wiz Inc. has turned down a takeover bid of as much as $23 billion from Alphabet Inc.’s Google, sticking instead with a plan for an initial public offering. The rejection will come as a blow to Google, which …
UK Water Companies Lambasted by Environment Agency for Sewage Releases
Britain’s Environment Agency on Tuesday lambasted the country’s water companies for spewing sewage into rivers and seas, saying the majority of them were failing to get the basics right, as it outlined plans for a tougher regulatory approach. Years of …
World Records Hottest Day While Wildfires Threaten Mediterranean
The world recorded its hottest ever day, as many parts of the Mediterranean face extreme wildfire risks. Sunday witnessed the highest average temperature on Earth, breaching a previous record set a year ago, according to provisional data from the European …
British Insurers Propose Green Infrastructure Funding Model
Britain’s insurers set out plans on Monday on how to channel billions of pounds freed up from their safety buffers into infrastructure such as EV charging stations to boost growth. The new Labour government in Britain has said that chunks …
Beef Between Wholesale and Retail Agents Should Go to Trial, Court Finds
A federal judge has ruled that a wholesale insurance agent’s claim against a retail agent for allegedly misrepresenting the exposure of an insured regarding violations of the federal telemarketing law should proceed to trial. In a case with origins back …
Delta Warns Cancellations to Stretch for Days After Outage
Delta Air Lines Inc. expects to cancel more flights this week as the carrier tries to recover from a crippling technology outage. The airline canceled more than 800 flights as of Monday afternoon, bringing its total since Friday’s meltdown to …
FEMA Gives SW Florida a Few More Months on Flood Insurance Discounts
Communities in southwest Florida will continue to enjoy discounts on National Flood Insurance, at least for now, after federal authorities granted a temporary reprieve to punitive actions taken over inappropriate rebuilding in floodplains. “The Village of Estero was notified July …
People Moves: MGIS in Utah Names Wrage VP of Sales and Distribution
MGIS, headquartered in Salt Lake City, named Jim Wrage vice president of sales and distribution. Wrage will develop and operationalize the organization’s sales strategy and manage a team of regional sales directors and internal sales specialists. Wrage worked for more …
Maryland Civil Lawsuit Alleges Harassment, Sex for Rent Scheme by Landlord
Maryland’s attorney general filed a civil lawsuit on Friday against an Eastern Shore landlord and his company, alleging a pattern of gender-based housing discrimination involving sexual harassment and demands to exchange sex for rent. The lawsuit, which was filed in …
Pennsylvania Shaved $98 Million Off Insurer Rate Requests in First Half of Year
The Pennsylvania Insurance Department (PID) reported that it has saved consumers $98.3 million in annual auto, home and other property/casualty insurance premiums in the first six months of 2024 through its review of insurance company rate filings. The vast majority …
Wisconsin Waste Management Company Faces $367K Fine for Endangering Workers
Had John’s Disposal Service Inc. and John’s Recycling Inc. in Franksville, Wisconsin followed federal safety standards, a temporary maintenance worker might not have suffered severe injuries when their jacket sleeve was pulled into an engine as they serviced a vehicle …
Houston Utility Slammed Over Fumbled Response to Beryl Power Outages
Thousands of people in the Houston area were still without power more than a week after Hurricane Beryl tore through the fourth-largest US city. Two factors are now emerging as important explanations for why the powerful but predictable storm caused …