INSURANCE NEWS
Keurig Agrees $1.5M SEC Fine Over Pod Recyclability Statements
Keurig Dr Pepper Inc. agreed to pay a $1.5 million fine to settle U.S. Securities and Exchange Commission charges that the beverage company made inaccurate statements regarding the recyclability of its K-Cup pods, the regulator said on Tuesday. Keurig in …
SEC Hits 7 Companies With Penalties for Violating Whistleblower Protections
Seven public companies agreed to pay a combined $3 million to settle U.S. Securities and Exchange Commission charges they violated whistleblower protections, the regulator said on Monday. TransUnion agreed to pay $312,000 and Acadia Healthcare Company will pay $1.39 million …
Viewpoint: Early Action Key to Mitigating Risk in Professional Liability Claims
Professional liability claims impact a multitude of professions, including those in the legal, medical, financial and insurance industries. Claims for malpractice, breach of contract, breach of fiduciary duty and related issues can result in widespread premium increases and professional discipline. …
AM Best Places Credit Ratings of Oregon Mutual Group Members Under Review
AM Best has placed under review with negative implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Oregon Mutual Insurance Co. and Western Protectors Insurance Co., which are domiciled in McMinnville, …
Iowa Manufacturer to Pay $51K Fine For Alleged Hazardous Waste Violations
Hawkins Inc., a chemical manufacturer based in Camanche, Iowa, will pay $51,158 in civil penalties and purchase equipment for local emergency responders to resolve alleged violations of the federal Resource Conservation and Recovery Act (RCRA). The company manufactures, distributes, and …
People Moves: Grange Insurance Names Lebens as CFO
Grange Insurance Company announced that Cheryl McRae Lebens has been named the company’s Chief Financial Officer, effective January 1, 2025, following Terri Brown’s planned retirement at the end of the year. Brown’s career in the property and casualty Insurance industry …
Missouri Patient Infected with Bird Flu Without Animal Contact
A hospitalized patient in Missouri was infected with bird flu despite having had no known contact with dairy cows or other animals associated with an ongoing outbreak, health officials said Friday. This is the 14th person in the U.S. sickened …
New Portuguese Government to Keep Ban on Chinese 5G Equipment
Portugal’s center-right government will keep the previous administration’s ban on telecoms firms using Chinese equipment in their 5G networks, a minister said, despite the projected cost of a position that is among the toughest in Europe. In May 2023, under …
VW Scraps Three-Decades-Old German Jobs Pledge to Cut Costs
Volkswagen AG is ending job protections for auto workers in Germany as part of its cost-cutting push, setting up a showdown with unions as the country’s most important industry fights for its future. The manufacturer on Tuesday canceled several agreements …
Tropical Storm Francine Churns Toward Louisiana as Path Shifts
Tropical Storm Francine is set to become a hurricane Tuesday as it churns toward Louisiana after shifting east, forcing some oil drillers to halt production but following a path that will likely avert key natural gas export plants. On its …
CRC Group Adds New People in Southeast
CRC Group, a wholesale specialty insurance distributor, has added new faces to its team. Davon Fields has joined CRC’s Birmingham, Alabama, office as a broker. He recently was vice president with an insurance brokerage. Donnie Waters was named senior team …
Florida Governor Floats Condo Relief Session; Condo Captive Idea Flagging
Florida Gov. Ron DeSantis urged lawmakers to weigh ideas on providing condominium owners with relief ahead of a Jan. 1 deadline that requires condo buildings to be inspected and repaired in the wake of the Surfside condo collapse that killed …