INSURANCE NEWS
California Warehouse, Logistics Companies Fined Nearly $840K After Worker Pay Probe
Three recent U.S. Department of Labor investigations in San Diego, California recovered nearly $840,000 for 32 employees, some of whom one employer reportedly paid less than $3 per hour. The department’s Wage and Hour Division determined that Ruffo de Alba …
FTC Ban on Worker Noncompete Agreements Delayed by Judge
A federal judge delayed implementation of the US Federal Trade Commission’s near-total ban on noncompete agreements, the first salvo in the high-stakes legal fight over how much freedom workers should have to switch jobs within an industry. US District Judge …
Progressive to Pay $48M to New York Drivers Over Underpaid Total Loss Claims
Progressive Insurance has agreed to a $48 million settlement with a class of 93,000 New York policyholders who claim the insurer underpaid their total loss claims on their vehicles. The $48 million represents approximately 54% of the compensatory damages alleged …
State Farm Seeking Large Rate Increases in Wildfire-Prone California
State Farm has applied for large rate increases in California, months after the carrier got rate approvals of 7% and 20% earlier this year—adding fuel to a burning homeowners crisis in a state that’s seen an increasing number of carriers …
People Moves: Everest Taps BHSI’s d’Huart as Head of France, Charon Named Head of Client Engmt, Europe; CNA Hardy Promotes Magnus as Active U/W at Lloyd’s
This edition of International People Moves details appointments at Everest in Europe and CNA Hardy. A summary of these new hires follows here. Everest Taps BHSI’s d’Huart as Head of France, Charon Named Head of Client Engmt, Europe Everest announced …
Judge Blocks Biden’s Bid to Halt LNG Export Licenses Over Climate
A federal judge halted Joe Biden’s temporary moratorium on new licenses for exports of US liquefied natural gas, though the decision is unlikely to immediately jump start approvals. US District Judge James D. Cain Jr. in Louisiana issued a preliminary …
Giant Sinkhole Swallows Center of Illinois Soccer Field
ALTON, Ill. (AP) — A giant sinkhole has swallowed the center of a soccer complex that was built over an operating limestone mine in southern Illinois, taking down a large light pole and leaving a gaping chasm where squads of …
How the Hot Water That Fueled Hurricane Beryl Foretells a Scary Storm Season
Hurricane Beryl’s explosive growth into an unprecedented early whopper of a storm shows the literal hot water the Atlantic and Caribbean are in right now and the kind of season ahead, experts said. Beryl smashed multiple records even before its …
NY Plane Crash Kills 5 Members of Georgia Family, Including Former Insurance Analyst
MASONVILLE, N.Y. (AP) — Five members of a family from Georgia, including a former insurance analyst, who were visiting Cooperstown, New York, for a baseball tournament died when their small plane crashed in a rural, wooded area, authorities said. The …
Specialist Risk Group Acquires Political Violence MGA, Tristar Special Risks
Specialist Risk Group, the London-based insurance intermediary, announced the acquisition of political violence specialist underwriter, Tristar Special Risks. Tristar Special Risks has deep expertise in terrorism insurance and supports broker partners across the UK through its comprehensive coverage for all …
Howden Enters Japanese Market, Invests in Keystone ILS Capital
Howden, the London-based insurance intermediary group, announced its entry into the Japanese market, launching Howden Re Japan Ltd. and an ILS partnership with Keystone ILS Capital. Howden also announced the appointment of Kentaro Tada as CEO, Howden Japan. Tada will …
Fire That Destroyed Historic Georgia Home Found to Be Arson
DARIEN, Ga. (AP) — A man has been charged with starting a fire that destroyed a nearly century-old home on the site of a coastal Georgia rice plantation that’s associated with the largest slave auction in U.S. history, authorities said …