College Guy News: December 2021

Thursday, December 30, 2021

Lighthouse Raises $65M for Debt Refi, Growth of Insurance Carrier

Lighthouse Management LLC has raised $65 million in capital, the company announced. The senior notes, issued in a private placement, will be used to refinance debt held by the group’s managing general agent, provide growth funding for the affiliated carrier, …

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Lawsuits, Insurance at Heart of New Mexico Archdiocese’s Bankruptcy Case

The Archdiocese of Santa Fe’s Chapter 11 bankruptcy efforts have plodded along for three years with no end visible in the case involving more than 400 clergy abuse victims. Lawyers say three years is a comparatively long time for Chapter …

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Opioid Scripts Decreased But Fatal Overdoses Increased. Doctors Propose a New Approach.

Doctors with the American Society of Anesthesiologists are calling for a new approach to fighting the opioid crisis, one that goes beyond current efforts at restricting opioid prescribing to reducing demand and addressing the “illicit” opioids in medicine cabinets. To …

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Purdue Bankruptcy Judge Extends Sacklers’ Lawsuit Shield Until February

A bankruptcy judge has extended temporary protections against opioid-related litigation for the Sackler family members who own Purdue Pharma until Feb. 1 after another judge overturned the OxyContin maker’s bankruptcy settlement this month. U.S. Bankruptcy Judge Robert Drain in White …

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Wednesday, December 29, 2021

People Moves: United Valley Promotes Jarnagin and Kilby; ALKEME in California Names Mitilier President of Its MGA

United Valley Insurance Services Inc. promoted Rubby Jarnagin and Jamie Kilby. Jarnagin has been promoted to marketing team supervisor. Rubby was formerly a marketing consultant/supervisor and focused on workers’ compensation. Rubby has more than 16 years of experience in the …

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Machine Learning Improves Lightning Prediction, Leading to Insight on a Key Wildfire Spark

Lightning’s destructive potential was showcased in 2020 when it sparked the massive California Lightning Complex fires, but it remains hard to predict. According to a new study led by the University of Washington, machine learning can be used to improve …

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Massachusetts Care Facility Employers Fail to Comply With OSHA Subpoena

An October 21, 2021, decision by the U.S. District Court for the District of Massachusetts ordered UHS of Fuller Inc. and UHS of Delaware Inc. to pay the U.S. Department of Labor $30, 515.63 in attorneys’ fees after failing to …

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Choice Financial Group Acquires New Hampshire’s Bernier Insurance Agency

Choice Financial Group announced acquired New Hampshire-based Bernier Insurance Agency, adding a presence in New England. Based in Rochester, New Hampshire, and led by President Troy Dillow, Bernier is a full-service insurance agency dedicated to offering a full suite of …

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SiriusPoint Invests in Canadian Digital Life Insurer PolicyMe

SiriusPoint Ltd., the Bermuda-based global specialty insurer and reinsurer, has announced a strategic investment in PolicyMe Corp., a digital life insurance provider specializing in Canadian individual term life insurance. PolicyMe aims to modernize and improve the process of buying life …

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Officials Say Backhoe Driver Damaged New Jersey Homes, Vehicles, Was Shot

The state attorney general’s office is investigating the shooting death of a man authorities say was driving a backhoe when he damaged vehicles and homes at a mobile home park in New Jersey this month. Joshua Gonzalez, 20, of Millville …

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Found in Space: How Skytek Tracks Supply Chain Risks—and More

Oil spills, port explosions, blockages in the Suez Canal and supply chain risks. These are just some of the events that global space company Skytek has analyzed over the past year for its insurance industry customers. The company helps insurers …

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$1 Million in Hermes Handbags Stolen from Florida Store

More than a dozen one-of-a-kind Hermes handbags with an estimated value of about $1 million were stolen in a smash-and-grab burglary from a boutique store in South Florida, the store owner said. The unique luxury bags were taken when the …

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Indiana Court Expands Eligibility for Emotional Distress Damages

A ruling by the Indiana Supreme Court has expanded the limited number of people who are eligible to recover damages in lawsuits alleging negligent infliction of emotional distress. Indiana lawsuits seeking damages for emotional distress typically can only be pursued …

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Latest Quake in Top Texas Oilfield to Hike Scrutiny of Drilling Waste Injections

A magnitude 4.5 earthquake that rattled the Permian basin in Texas on Monday night is likely to add pressure on oil producers in the region to slow or stop underground wastewater injections that regulators believe may cause the tremors. The …

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Florida Woman Who Lost Leg After Pedicure Settles for $1.75M

A Florida woman whose leg had to be amputated because of an infection after a pedicure has reached a $1.75 million settlement with the nail salon, her attorney said. An employee at Tammy’s Nails 2 in Tampa cut Clara Shellman’s …

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Tuesday, December 28, 2021

Study Links Exposure to Formaldehyde at Work to Cognitive Problems Later

A new study suggests that long-term exposure to formaldehyde during work may be associated with cognitive impairment later on. A variety of jobs expose people to formaldehyde, a strong-smelling gas used in manufacturing wood and chemical products, plastics and in …

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Complaints of Hyundai-Kia Engine Fires Trigger Safety Probe

U.S. auto safety regulators have stepped up a series of investigations into engine fires that have plagued Hyundai and Kia vehicles for more than six years. The National Highway Traffic Safety Administration says a new engineering analysis investigation covers more …

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Man Gets Prison Term After Pleading Guilty to New Hampshire Diner Fire

A man has been sentenced to three to six years in state prison after pleading guilty to setting fire to a New Hampshire diner in July. Police had said the man kicked out the bottom window of the Daddypops Tumble …

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Boy Dies in Maryland Fire That Damaged 16 Apartments

A seven-year-old boy who was critically injured in an apartment fire in a Baltimore neighborhood has died, authorities said Sunday. The Baltimore County Fire Department said in a news release that Clinton Chimobi Ezeamaka died Saturday in the pediatric burn …

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Germanna Community College Launches First High School Cybersecurity Class

The 10 students in Stephen Tate’s cybersecurity fundamentals class are unwitting multitaskers. In addition to preparing to pass the Computing Technology Industry Association’s Security+ exam – an exam usually given to those who have worked in the cybersecurity industry for …

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Bird Flu Kills Thousands of Migratory Cranes in Israel; No Human Transmission Reported

An outbreak of avian flu has killed more than 5,000 migratory cranes in Israel, prompting authorities to declare a popular nature reserve off-limits to visitors and warn of a possible egg shortage as poultry birds are culled as a precaution. …

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Brazil’s Dams Monitored for Risk of Bursting After Heavy Rains Kill at Least 18

Ten water dams are being monitored for risk of bursting in Brazil after heavy rains in the country’s northeast killed at least 18 people and forced over 16,000 more to flee their homes in what local authorities are calling the …

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Sunken Ship’s Captain and 1st Officer Sentenced to 20 Months in Mauritian Prison

The captain and first officer of a dry bulk carrier, which triggered the biggest environmental disaster in Mauritius, have been sentenced to 20 months in prison in the Indian Ocean island nation. Sunil Kumar Nandeshwar, the captain, and Subodha Tilakaratna, …

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Record Snowfall Disrupts Train, Air Travel in Western Japan

A powerful storm rammed western Japan with record snowfall, disrupting flights, train travel and leaving hundreds without power. Snowfall surpassed 70 centimeters (28 inches) in the cities of Hikone and Maizuru, in the prefectures of Shiga and Kyoto, respectively, data …

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Vienna Insurance Agrees to Share Ownership of Hungary Unit to Save Aegon Deal

Vienna Insurance Group AG agreed to share ownership of its Hungarian operations with a state investment fund after months of negotiations, in order to salvage an 830 million-euro ($941 million) deal to buy regional assets from Aegon NV. The insurer …

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$9,000 an Hour for Comp Attorney Fee Has Tongues Wagging in Florida

Few things in Florida workers’ compensation have been a bigger issue over the last decade than claimants’ attorneys’ fees. Despite two landmark appeals court rulings barring limits on fees, employers and insurers have continued to cite the need for new …

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Employers and Employees: How to Avoid a Burnout Crisis

In a more typical time, burnout is an exception. In the era of COVID, it almost feels like the norm. According to Jennifer Moss, organizations should take a hard look in the mirror for fostering cultures of overwork that make …

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Monday, December 27, 2021

Study Finds Pandemic Lockdowns Only Work for a Limited Time

As the world struggles to contain the spread of COVID-19, many countries grapple with the possibility of imposing more lockdown measures, like those widely used in the spring of 2020. But how well do lockdowns work at keeping people home? …

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Italian Judge Drops Case Against Unipol CEO Over Merger With Insurer Fondiaria

An Italian judge on Thursday dropped a case against the CEO of Unipol and six other people related to the 2013 merger between Italy’s second-largest insurer and smaller rival Fondiaria-SAI, a judicial document seen by Reuters showed. Carlo Cimbri and …

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Did Builder Groups Block Insurance Industry Move to Require More Storm Shelters?

A 2012 insurance industry proposal to make tornado shelters part of the building code for large commercial and residential buildings was blocked by construction and building management interests, the New York Times reported. The idea of requiring storm-safe rooms in …

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King Insurance Reigns on Three More Agencies

King Insurance, a Florida-based insurance broker and employee benefits firm, has acquired three agencies in Florida and Georgia, bringing to 11 the number of acquisitions for the company this year. King, headquartered in Gainesville, Florida, said in news releases that …

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Supreme Court to Take Up COVID Mandate Jan. 7

The Supreme Court will hear oral arguments Jan. 7 on whether the Biden administration can order workers at private companies and health care employees to be vaccinated for COVID-19. Until the court rules, millions of workers face a patchwork of …

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Takeaways from Our Conversation on Insuring Cannabis in 2022

Insurance rates in key lines for cannabis businesses may be heading up 10% or more next year. That was one of the predictions made by an expert in the final Insuring Cannabis podcast of the year in which we interviewed …

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Sunday, December 26, 2021

People Moves: Alliant Names Walter Vice President; Foresight in California Promotes Bruce and Lachowski

Alliant Insurance Services named Adam Walter a vice president within its employee benefits group. based in Phoenix, Arizona. Walter will design and deploy employee benefits solutions for an array of regional and national clients with a targeted expertise in cost …

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Saturday, December 25, 2021

Unions Say Meat Plants Relaxed COVID-19 Safety Measures After Outbreaks

Smithfield Foods, the world’s largest pork producer, last year assigned a team of dedicated employees to enforce social distancing and sanitize surfaces at a South Dakota slaughterhouse where COVID-19 infected nearly 1,300 workers, the president of the local labor union …

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Thursday, December 23, 2021

As Charleston Seawall Looms, Some Seek More Natural Methods

CHARLESTON, S.C. (AP)–A plan to build a $1.1 billion seawall around much of downtown Charleston is leaning toward relying on concrete structures, although many would like to see the U.S. Army Corps of Engineers include less-intrusive solutions such as living …

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Wednesday, December 22, 2021

As Strongest Storm to Hit Philippines in 2021, Super Typhoon Rai ‘Exceeded All Predictions’

SINGAPORE – The rapid intensification that turned this week’s Typhoon Rai into the strongest storm to hit the Philippines this year surpassed all predictions, forecasters said, leaving nearly 400 people dead and almost a million displaced. While it’s unclear exactly …

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Insurers Sanlam and Allianz Explore Options for Their African Businesses

JOHANNESBURG – African insurer Sanlam Ltd. said on Wednesday it was exploring “strategic alternatives” with Germany’s Allianz SE for their respective African businesses, excluding Sanlam’s home market of South Africa. Sanlam, South Africa’s No. 1 insurer, did not elaborate on …

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People Moves: Despot Joins Insurance Office of America; Alliant Adds Wightman

Insurance Office of America Adds Chris Despot Insurance Office of America had Chris Despot to its team as a risk management consultant. While serving all states, Despot brings a new IOA presence in Arkansas, Louisiana, Mississippi, and Texas. Prior to …

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Dec. 15 Winter Storms Across Upper Midwest Classified as Derecho

A line of severe thunderstorms andtornadoesthat swept across the north-central U.S. last week was the result of a serial derecho _ the first on record in December, officials with the National Weather Service said Dec. 20. At least 45tornadoeshave been …

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Comma-tose: Florida Coverage Case Hinged on Punctuation Question

Coverage disputes often hinge on the exact wording of an insurance policy. In a case in federal court in South Florida, the issue came down to not only the wording, but the punctuation – namely, a question about a single …

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The $1M Bad Faith Case and the Missed Deadline

Darryl A. Vachon did not accuse Travelers of bad faith in handling his $25,000 uninsured motorist claim until after a jury found he had incurred $1,022,780 in damages. Because he didn’t, the insurer must now defend itself against a million-dollar …

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Tuesday, December 21, 2021

Active 2021 Hurricane Season Revealed ‘Unsettling’ Trends: AIR Worldwide

The 2021 Atlantic hurricane season was the third most active on record and the sixth consecutive year of above-average hurricane activity. Still, the overall season was mostly in line with the updated 30-year average, according to experts from AIR Worldwide. …

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UK Businesses Brace for Great British Resignation in 2022

UK businesses were hit by rising numbers of staff leaving their jobs voluntarily during 2021, with many employers facing the prospect of more resignations and a hiring crunch going into the third year of the pandemic, new research shows. Voluntary …

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Global M&A Activity Shatters Records, Topping $5 Trillion in 2021

LONDON/HONG KONG – Global merger and acquisition (M&A) activity shattered all-time records in 2021, comfortably erasing the high-water mark that was set nearly 15 years ago, as an abundance of capital and sky-high valuations fueled frenetic levels of dealmaking. The …

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FWD Group Withdraws U.S. IPO Plan, Pivoting Instead to Hong Kong

FWD Group Ltd., the Hong Kong-based insurer backed by billionaire Richard Li, withdrew its U.S. initial public offering as China tightens its grip on overseas listings. The company said in a filing Monday with the U.S. Securities and Exchange Commission …

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New Kid on Block Will Use Tech, Rapid Repair Networks to Survive Florida Market

When the Florida insurance world heard that a newly formed homeowners’ insurance carrier was stepping into the troubled Florida waters, reactions ranged from cynical to apoplectic. Few people have given the new company, known as Vyrd Insurance, very good odds …

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Insurer Can Keep Using its Own Repair Contractor, Florida Appeals Court Finds

For the fourth time this year, a Florida appeals court has decided in favor of People’s Trust Insurance Co., requiring homeowners to let the carrier’s chosen contractor make the needed repairs. “Yes, this is a big one,” said Joshua Beck, …

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Monday, December 20, 2021

Medical Boards Under Pressure to Discipline Doctors Pushing False Covid-19 Claims

They have decried COVID-19 as a hoax, promoted unproven treatments and pushed bogus claims about the vaccine, including that the shots magnetize the human body. The purveyors of this misinformation are not shadowy figures operating in the dark corners of …

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Ransomware Attacks Not High-Profile or Front Page News But Still Happening Frequently

In the months since President Joe Biden warned Russia’s Vladimir Putin that he needed to crack down on ransomware gangs in his country, there hasn’t been a massive attack like the one last May that resulted in gasoline shortages. But …

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Regulators Warn of Climate Change, Stablecoins as Systemic Financial Risks

Climate change, the rapid growth of “stablecoins” and financial innovations that led to frenzied trading of GameStop Corp shares early this year are threats to the U.S. financial system that merit closer scrutiny, a Treasury Department-led regulatory panel said on …

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Two Ex-Maryland Players Reach Settlement to Football Lawsuit

Two former Maryland football players have each reached $200,000 settlements in lawsuits accusing former coach DJ Durkin of running a program that subjected athletes to an abusive environment. The Maryland Attorney General’s Office reached the agreement with former players Gus …

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Everest Re Extends President and CEO Andrade’s Employment Agreement

Everest Re Group Ltd., the Bermuda-based re/insurer, announced the extension of President and CEO Juan C. Andrade’s employment agreement through the end of 2023 with automatic annual extensions following this term. “In the past 24 months as Everest’s CEO, Juan …

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The Hilb Group Acquires Charles Newman Co., Builds on New York Presence

The Hilb Group acquired Charles Newman Co. Insurance and Employee Benefits to its portfolio, adding to The Hilb Group’s growing presence in the New York metropolitan area. The transaction became effective December 1, 2021. Based in Peekskill, New York, Charles …

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New York Contractor Faces $244K in Penalties for Exposing Workers to Fall Risks

Three federal safety inspections at a Suffern, New York, condominium complex confirmed a Rockland County roofing contractor repeatedly exposed residential roof workers to potentially deadly falls from heights of 18 to 20 feet. The U.S. Department of Labor’s Occupational Safety …

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Fire Destroys Huge QVC Distribution Center in North Carolina

What was described as a “massive” fire destroyed most of a sprawling QVC distribution center in Rocky Mount, North Carolina, shutting down a major employer just days before Christmas. About 75% of the home-shopping network facility was destroyed in the …

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Former Citizens President Cleared of Waterway Excavation Infraction

The former president of Florida’s Citizens Property Insurance Corp. has been found not guilty by a federal jury after he was charged with excavating a channel without authorization at his waterfront mansion. Thomas Grady, now the chairman of the Florida …

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Sunday, December 19, 2021

Ruling Against Purdue’s Sacklers Puts Controversial Bankruptcy Tactic in Spotlight

A federal judge’s decision to unravel a settlement shielding members of the Sackler family from future opioid litigation could upend a controversial corner of U.S. bankruptcy law: protecting third parties who have not filed for Chapter 11 themselves. In a …

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Court OKs Biden Covid Vaccine Mandate for Employers; Supreme Court Appeal Likely

A federal appeals court panel on Friday allowed President Joe Biden’s COVID-19 vaccine mandate for larger private employers to move ahead, reversing a previous decision on a requirement that could affect some 84 million U.S workers. The 2-1 decision by …

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Update: After Latest Court Ruling, Must Employers Follow Biden’s Vaccine Mandates?

Tens of millions of workers across the U.S. are in limbo as federal courts have issued different rulings related to President Joe Biden’s COVID-19 vaccine mandates for larger private companies, certain health care workers and federal government contractors. A federal …

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OSHA Sets Dates for Vaccine Mandate Penalties

The Occupational Health and Safety Administration said Saturday that it would not issue citations tied to its coronavirus vaccination mandate before Jan. 10, so that companies have time to adjust to and implement the requirements. The federal agency separately said …

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Friday, December 17, 2021

Judge Rules Dominion Defamation Suit Against Fox News Can Move Forward

Fox News probably had enough information after the 2020 presidential election to know a conspiracy theory claiming Dominion Voting Systems Inc. rigged the contest was false, a judge said in denying the network’s request to dismiss a defamation lawsuit. Delaware …

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New Jersey Landlord Accused of Demanding Sex from Tenants to Pay $4.5M

A landlord accused of demanding sex from his low-income tenants under threat of eviction or in exchange for helping them receive rent assistance will pay more than $4 million to settle a federal lawsuit, the U.S. Department of Justice announced. …

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‘Keep Delivering’: Amazon Tornado Tragedy Raises Emergency Safety Training Questions

The messages between an Amazon.com Inc. delivery driver and her boss began about 80 minutes before a tornado struck one of the company’s warehouses in Edwardsville, Illinois, on Dec. 10, killing six workers. The dramatic exchange cast in sharp relief …

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New York Contractor Faces $374K in Penalties After Fatal Worker Fall

A federal workplace safety investigation has found a Queens, New York, construction contractor failed to provide and ensure the use of effective fall protection safeguards that would have prevented the death of a worker who fell about 60 feet from …

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People Moves: Aon Recruits WTW’s James as Chief Broking Officer, Commercial Risk UK; Allianz’ Strong to WTW as Head of Environmental; AGCS Promotes Yee for TMT

This edition of International People Moves details appointments at Aon, Willis Towers Watson and Allianz Global Corporate & Specialty (AGCS). A summary of these new hires follows here. Aon Recruits James from WTW as Chief Broking Officer, Commercial Risk UK …

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Administration Asks Supreme Court to Lift Lower Courts’ Hold on Vaccine Mandate

The Biden administration on Thursday asked the U.S. Supreme Court to lift rulings by two lower courts that put the president’s COVID-19 vaccine mandate for healthcare workers on hold, saying the shots were crucial before an expected winter spike in …

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Thursday, December 16, 2021

American Meteorological Society Report Details Extreme Weather Made More Likely by Climate Change

The American Meteorological Society released a report this week detailing some of the extreme weather events made more likely by human-caused climate change in 2020. The report, Explaining Extreme Events in 2020 from a Climate Perspective, presents 18 peer-reviewed analyses …

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McDonald’s Settles With Ex-CEO Easterbrook Over Claim He Lied About Sexual Affairs

McDonald’s Corp. said on Thursday it had reached a settlement with former chief Steve Easterbrook, resolving a lawsuit in which the burger chain had claimed that he covered up and lied about his sexual relationships with employees. As part of …

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Zurich Insurance to Acquire Conversational AI Company AlphaChat

Zurich Insurance Group agreed to acquire Estonia-based company AlphaChat, which provides conversational artificial intelligence (AI) technology for customer service automation, to further enhance the group’s digital capabilities. Financial details of the transaction were not disclosed. AlphaChat is one of the …

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Fairfax Completes Sale of Stake in Subsidiary Odyssey Group for US$900M

Fairfax Financial Holdings Ltd. announced the completion of the previously announced sale of a minority stake in Fairfax’s subsidiary, Odyssey Group Holdings for an aggregate cash price of US$900 million. An affiliate of CPPIB Credit Investments Inc., a wholly-owned subsidiary …

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Spanish City of Zaragoza Braces for Flooding From Ebro River

MADRID (AP) – Authorities in the Spanish city of Zaragoza braced Tuesday for a critical surge in the level of the Ebro River, after flooding further upstream in recent days was blamed for two deaths. The river’s flow rate climbed …

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Artful Mosaic Insurance Creates Global Agility for Specialty Startup

Mosaic Insurance, the Bermuda-headquartered startup and Lloyd’s specialty insurer, operates with a unique structural twist. Its hybrid model has the flexibility of a managing general agent (MGA), the stability of a carrier’s long-term capital, plus the ratings, global licenses and …

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London Turns Into Ghost Town as UK Faces Record-Breaking Wave of COVID Infections

The owner of Parlez, a pub and restaurant in south London, hoped that sales this Christmas would have bounced back fully from last winter’s COVID-19 lockdown. Instead, every one of this week’s group reservations canceled their bookings. The UK is …

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Missouri Jury Awards Transgender Student $4 Million

A Kansas City-area school district must pay a transgender student $4 million after it refused to let him use the boys’ restrooms or locker rooms, a Jackson County jury decided. The jury on Monday found the Blue Springs school district …

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Wednesday, December 15, 2021

Typhoon Rai Threatens Philippines, Forcing Thousands to Flee Homes

Typhoon Rai has rapidly intensified as it nears central and southern Philippine provinces on Thursday, forcing thousands to flee their homes and leaving thousands stranded as airlines canceled flights. The typhoon that’s locally known as Odette is packing winds of …

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Michigan School District Faces Two $100 Million Suits After Shootings

The parents of a 17-year-old girl who was shot in the neck at Oxford High School during a mass shooting that left four students dead filed a pair of lawsuits seeking $100 million each against a Michigan school district, saying …

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Ex-Deputy, Sheriff in South Carolina Face Second Lawsuit Over Excessive Force

A sheriff and a fired deputy in South Carolina are facing a second lawsuit over the officer’s conduct during an arrest. The lawsuit said ex-Kershaw County deputy Johnathan Goldsmith threw the man against a car and then on the ground …

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High Court Won’t Hear Mississippi Lawsuit Over Talcum Powder

The Supreme Court on Monday turned away a request by Johnson & Johnson to halt a Mississippi lawsuit over its talcum powder products. As is typical, the high court did not say anything in turning away the case, which was …

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EEOC Addresses When COVID-19 May Be a Disability Requiring Accommodation

An applicant or employee whose COVID-19 results in mild symptoms that resolve in a few weeks—with no other consequences—will not have a disability that could make someone eligible to receive a reasonable accommodation, according to the Equal Employment Opportunity Commission …

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UK Broker Ardonagh Valued at $7.5B as Abu Dhabi Investment Authority Buys Stake

Abu Dhabi Investment Authority has acquired a stake in The Ardonagh Group that values the UK-based insurance broker at $7.5 billion. Ardonagh announced the deal in a statement Wednesday that confirmed an earlier Bloomberg News report. Existing backer Madison Dearborn …

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KKR Nears Deal to Buy Stake in India’s Shriram General Insurance Ahead of IPO

KKR & Co. is nearing a deal to buy a 10% stake in Shriram Capital Ltd.’s general insurance unit for about 18 billion rupees ($237 million), according to people familiar with the matter, as the Indian financial group embarks on …

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Arctic Region Broke Heat Record in 2020, U.N. Agency Confirms

An Arctic temperature record of more than 100 Fahrenheit (38 Celsius) was reached in a Siberian town last year during a prolonged heatwave that caused widespread alarm about the intensity of global warming, a U.N. agency confirmed on Tuesday. Verkhoyansk, …

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Tuesday, December 14, 2021

Jury Awards $1.7M to Massachusetts Teacher Who Alleged Discrimination

A jury has found that school officials in Boston, Massachusetts, retaliated against a teacher for exercising his legal right to raise concerns about workplace discrimination without fear of retribution, awarding him $1.7 million. The Boston Globe reports that Charles Sherman …

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A.M. Best Affirms Ratings for The Concord Group Insurance Companies

A.M. Best has affirmed the financial strength rating (FSR) of A+ (superior) and the long-term issuer credit ratings (long-term ICR) of “aa-” for the members of The Concord Group Insurance Companies. The rating actions reflect Concord Group’s balance sheet strength, …

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World Insurance Associates Acquires New Jersey’s E&K Insurance Group

World Insurance Associates LLC (WIA) acquired E&K Insurance Group of Eatontown, New Jersey, on December 1, 2021. Terms of the transaction were not disclosed. E&K was founded in 1930 by two entrepreneurs who established E & K Insurance Group in …

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Extreme Weather in 2021 Brings Above-Average Claims to Global Insurers: Swiss Re

Extreme weather events in 2021, including a deep winter freeze, floods, severe thunderstorms, heatwaves and a major hurricane, resulted in estimated annual insured losses from natural catastrophes of US$105 billion, the fourth highest since 1970, according to Swiss Re Institute’s …

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AM Best Sees Tornado Losses as Manageable for Insurers

Analysts at ratings firm AM Best said they expect the insured losses from the tornadoes that devastated central and southern U.S. last weekend will dampen underwriting results for insurers but that insurers will be able to absorb them, even though …

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Brit Pilots 1st Continuous Binder for Delegated Authorities, to Replace Annual Renewals

Brit Ltd. announced it has piloted the first continuous binder at Lloyd’s for delegated authorities, which will go live in January 2022. Continuous contracts form a key part of the Future at Lloyd’s vision for delegated underwriting, said Brit. The …

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Insured Loss From Tornado Outbreak Estimated at $3 Billion by KCC

The insured loss from the December 9-12 tornado outbreak that devastated parts of central U.S. has been estimated to be about $3 billion. Catastrophe modeling firm Karen Clark & Company said its estimate includes damage from the tornadoes and winds …

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Specialist Risk Group Launches MGA Called MX Underwriting

Specialist Risk Group (SRG) announced the launch of MX Underwriting. Led by Lee Anderson, SRG deputy CEO, and James Gerry, MX chairman, MX aim to be a £100 million gross written premium business within its first year of trading. Since …

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Canada’s StoneRidge Insurance Brokers Acquires John Stark & Co.

SIB Corp., operating as StoneRidge Insurance Brokers (SIB), the Canadian provider of insurance and consulting services, has acquired John Stark & Co. (Stark), to expand its personal, commercial and life insurance offerings. Founded in 1870, with offices in Barrie and …

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Swiss Re-Backed FWD Raises $1.4 Billion, Weighs Hong Kong IPO

Billionaire Richard Li’s FWD Group Ltd. raised more than $1.4 billion in private placements with investors including an insurer backed by Apollo Global Management Inc. The investors include Apollo’s Athene Holding Ltd., Canada Pension Plan Investment Board, Siam Commercial Bank …

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Monday, December 13, 2021

Crews Continue Searching for Missing After Tornadoes Ravage Communities

Rescuers combed through fields of wreckage after a tornado outbreak roared across the middle of the U.S., leaving dozens dead and communities in despair. A twister carved a track that could rival the longest on record as the stormfront smashed …

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Generali to Focus on U.S., Asia in New Strategic Growth Plan: Report

Assicurazioni Generali SpA, Italy’s largest insurer, is preparing to unveil an international-growth strategy to investors this week, according to the Repubblica newspaper. The plan, to be presented by Chief Executive Officer Philippe Donnet on Wednesday, will focus on the company’s …

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Insurer Mapfre to Make $983.8M Pay-out for Construction Issues With Colombia Dam

Spanish insurer Mapfre on Friday signed a contract to make a $983.8 million contingency pay-out to Colombia’s Empresas Publicas de Medellin (EPM) over issues with the construction of the massive Hidroituango dam. The funds will guarantee that the project can …

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Residents of Dangerous Wisconsin Condo Rush to Move Belongings

Residents of a Waukesha condominium that could collapse are rushing to move their belongings out. Police and firefighters cleared the six-story, 48-unit Horizon West Condominiums on Dec. 2 after an engineering report found its structural columns were compromised, echoing the …

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Sunday, December 12, 2021

People Moves: Linton to Head Environmental Underwriting

Beth Linton, the vice president of Environmental Underwriting Solutions since 2006, is the new president of the wholesale insurance broker. Birmingham-based EUS, which specializes in complex environmental coverage, said Linton earned her master of science degree in environmental management from …

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In Big Florida Ponzi Scheme, Security National Sues Firm’s Lawyers

Finger-pointing in one of the largest Ponzi schemes to hit Florida has spilled over into the legal and insurance industries. Security National Insurance Co. has filed suit against a Miami law firm, alleging the lawyers failed to divulge their previous …

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Alera Group Acquires J&J Benefits Insurance Agency in Utah

Alera Group acquired J&J Benefits Insurance Agency, an employee benefits consulting and health insurance firm serving clients in Utah and Idaho. J&J Benefits joins Alera Group through Banasky, an Alera Group company in Utah. The J&J Benefits team will continue …

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Woman’s Oregon City Suit Blames Tear Gas for Impacting Menstrual Health

A woman is suing the city of Portland, Oregon, alleging that tear gas deployed by police during summer 2020 demonstrations caused lasting damage to her menstrual health. Lanora Vasquez’s lawyer, Michael Fuller, filed the civil rights complaint this week in …

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Reinsurer Says U.S. Should Regulate $17 Billion Litigation Funding Industry

Litigation funding has become a $17 billion industry globally, with 52% of that money being spent in the United States, Swiss Re said in a recent report. The reinsurer said third-party litigation funding (TPLF) is increasing the number of “outsize” …

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Major Companies Rush to Fix Software Flaw Before Hackers Strike

Major global companies are facing pressure to fix what experts are calling one of the most serious software flaws in recent memory. The flaw in the Log4j software could allow hackers unfettered access to computer systems and has prompted an …

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Friday, December 10, 2021

Wells Media Group Transitions Ownership to Its Employees

Wells Media Group, Inc announced that it has become a 100% employee-owned firm via the launch of an Employee Stock Ownership Plan (ESOP). Wells Media, the publisher of Insurance Journal, Carrier Management and Claims Journal and other news and insights …

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Safeguards for Leaking California Oil Pipe’s Not Fully Working

The ruptured offshore pipeline that spilled tens of thousands of gallons of crude oil off the Southern California coast this fall did not have a fully functioning leak detection system at the time, according to a report obtained by The …

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People Moves: Markel’s Hastings Named President of W. R. Berkley Syndicate Mgmt; Chaucer Promotes Sharp to Head of Political Violence & Crisis Mgmt

This edition of International People Moves covers appointments at W.R. Berkley and Chaucer. A summary of these new hires follows here. Markel’s Hastings Named President of W. R. Berkley Syndicate Management W. R. Berkley Corp. announced the appointment of James …

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Other Services Beat P/C Insurers in Providing Digital Customer Experience: J.D. Power

The property/casualty insurance industry is falling behind financial services and utilities providers when it comes to the digital customer experience. Throughout 2021, just 40 percent of claimants interacted with an estimator via digital channels and only 47 percent made a …

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Maryland Is Fifth U.S. State to Join the International Sustainable Insurance Forum

Consistent with Governor Larry Hogan’s commitment to address and mitigate the effects of climate change, the state of Maryland has joined the Sustainable Insurance Forum (SIF) of the United Nations Development Program (UNDP). The UNDP SIF is a global network …

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Virginia Environmental Groups Sue Over James River Pollution

Two conservation organizations have filed a federal lawsuit against Henrico County in Virginia, alleging the county allowed tens of millions of gallons of raw sewage to seep into the James River and its tributaries over the last five years. The …

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Rising Insurance Costs Add to Public Finance Sector’s Cyber Pressures

The growing pace and sophistication of cyberattacks on U.S. public finance entities has led to rising costs and challenges in acquiring robust cyber insurance coverage. Fitch Ratings says public entities are increasingly required to undergo stringent security audits and adherence …

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Allergan Settles for $200M with New York Over Opioids

Pharmaceutical company Allergan Finance LLC will pay $200 million to New York state and two of its counties as part of an agreement that removes it from an ongoing state lawsuit over the opioid crisis, state Attorney General Letitia James …

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M&A Insurance Rates Nearly Double After Explosion of Dealmaking During Pandemic

The cost of insurance to cover problems involving M&A has nearly doubled in just two years, underwriters and brokers said, after an explosion of global dealmaking during the COVID-19 pandemic. Potential buyers take out insurance to protect against issues such …

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Second California Jury Sides With Bayer in Roundup Cancer Case

A California jury found that Bayer’s Roundup weedkiller was not the cause of a woman’s non-Hodgkin’s lymphoma, Bayer said on Thursday, delivering the chemical giant its second trial victory over claims the popular herbicide causes cancer. The jury in San …

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SEC Chairman Says Tougher Rules for SPACs Under Consideration

The U.S. Securities and Exchange Commission’s chairman said on Thursday the regulator is considering toughening rules around how underwriters, boards of directors and sponsors of Special Purpose Acquisition Companies (SPAC) structure fees, issue projections and disclose conflicts. SEC chief Gary …

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Volkswagen to Pay $3.5 Million to Settle Illinois Diesel Cheating Claim

Volkswagen AG’s U.S. unit will pay $3.5 million to resolve a lawsuit by the state of Illinois against the German automaker for updates of emissions software arising from the 2015 diesel cheating scandal. Last month, the U.S. Supreme Court rejected …

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Generali Joins Forces With Accenture and Vodafone to Provide Cyber Insurance Services

Generali has joined forces with Accenture and Vodafone Business to create a package of cyber insurance services for corporate and small and medium-sized enterprise (SME) clients. The services include cyber risk assessments, phishing simulations and learning programs, designed to help …

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Swiss Re to Sell elipsLife to Swiss Life, Enter Long-Term Reinsurance Partnership

Swiss Re announced it has agreed to sell its life insurance subsidiary Elips Life AG (elipsLife) to Swiss Life International and to enter into a long-term reinsurance partnership for elipsLife’s in-force and new business. Financial details of the transaction were …

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Stonetrust Workers’ Compensation Expands to Kansas

Stonetrust Workers’ Compensation is now writing workers’ compensation coverage in Kansas effective January 1, 2022. Stonetrust is headquartered in Baton Rouge, Louisiana and is now operating in ten states including Louisiana, Texas, Oklahoma, Arkansas, Mississippi, Nebraska, Missouri, and Tennessee in …

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Thursday, December 9, 2021

Stonetrust Workers’ Comp Expands into Alabama

Stonetrust Workers’ Compensation Insurance announced that it is expanding into the Alabama market, starting Jan. 1. Stonetrust is headquartered in Baton Rouge, Louisiana, and operates in 10 states, including Louisiana, Texas, Oklahoma, Arkansas, Mississippi, Nebraska, Missouri, and Tennessee, and now, …

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Carrabba’s Must Pay $690,000 in Sexual Harassment Suit

Carrabba’s Italian Grill, a nationwide chain, and a restaurant staffing firm must pay $690,000 to settle a sexual harassment lawsuit, the U.S. Equal Employment Opportunity Commission announced. The federal agency said that Carrabba’s and OS Restaurant Services violated federal civil …

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Florida Supreme Court Suspends Plaintiffs’ Lawyer for Second Time

The Florida Supreme Court has suspended a Tampa plaintiffs’ lawyer for the second time in three years after judges and the Florida Bar charged that he had wrongly accused courts and other lawyers of racial bias, then disrupted and prolonged …

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Insuring Cannabis Summit: Broker Who Fought Cancer Sees Hope in Cannabis Business

This is part of a series of articles from Insurance Journal’s annual Insuring Cannabis Summit on Oct. 14. You can find more articles from the summit at the bottom of this one. Sabrina Alkire is a broker who it can …

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Toyota Offering Auto Insurance With Farmers’ Toggle in 5 States With More to Come

Automaker Toyota’s insurance arm has begun selling its first branded insurance coverage, Toyota Auto Insurance, in Arizona, Illinois, Indiana, Ohio and South Carolina, and will soon be offering the coverage in Georgia, Missouri, Tennessee and Texas. The insurance agency said …

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European Gig Workers Hail ‘Landmark’ Directive to Make Them Employees

Millions of platform workers in Europe could be on their way to being designated as employees, a move that labor groups say could transform their status. The European Commission on Thursday set out new rules that would mean people working …

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Canada’s CPP Investments to Sell Ascot Group, Wilton Re in Strategy U-turn: Sources

Canada Pension Plan Investment Board (CPP Investments) is seeking to sell its Wilton Re and Ascot Group insurance platforms, marking a strategic U-turn for the fund in the face of intense competition, people familiar with the matter said on Wednesday. …

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These Workers Stand to Gain From Current UK Pay Surges. Time to Ask for Pay Raise?

The fastest wage gains since the 2008 global financial crisis are throwing up opportunities and obstacles throughout the UK economy, leaving workers to wonder how much they’ll ultimately benefit. Underlying wages, adjusting for distortions caused by lockdowns and the furlough …

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Minnesota Trucking Company to Pay $500,000 Settlement over Sex Discrimination Lawsuit

Stan Koch and Sons Trucking, based in Minneapolis, will pay $500,000 and furnish other relief to settle a sex discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission. According to the EEOC’s lawsuit, Koch’s use of the CRT Test, …

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AbbVie Pays $200M to Settle Opioid Marketing Case Right Before Trial Ends

AbbVie Inc. agreed to pay $200 million to settle claims by New York that its Allergan unit helped fuel an epidemic of opioid addiction in the state, shortly before jurors heard closing arguments from remaining defendant Teva Pharmaceutical Industries Ltd. …

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Wednesday, December 8, 2021

People Moves: Pathpoint Names Chi Head of Product; Lockton Adds Cahoon in Washington

Pathpoint Inc. named Melissa Chi head of product. Chi comes to Pathpoint from Stord where she was the director of product. Chi’s technology and startup background also includes experience as product manager at SigFig and product manager & capital markets …

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Goosehead Insurance to Enter Life Insurance Market with Ethos

Independent personal lines insurance agency, Goosehead Insurance Inc., has enter into the life insurance space through an alliance with insurtech Ethos Life (Ethos). The company announced today that through Goosehead’s Digital Agent Platform, clients can now access life insurance online …

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Jeep, Dodge, Fiat Automaker Stellantis Plans Usage-Based Insurance Offering

Automaker Stellantis rolled out its software strategy on Tuesday including a 2030 target of 20 billion euros ($22.5 billion) in annual revenue from related products and subscriptions as it takes aim at rival Tesla. CEO Carlos Tavares said the world’s …

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Looking in the Rearview Mirror: Cyber Lessons Learned from 2021

The year is coming to an end and cyber insurers as well as their clients may be reflecting on lessons learned from this year’s biggest threats. However, Kurt Suhs, founder and CEO of cyber risk company Cyber Special Ops, says …

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Renault’s Zoe Electric Model Gets Zero-Star Safety Rating From Europe Safety Agency

French carmaker Renault on Wednesday received a blow for its popular Zoe electric model, as the European New Car Assessment Programme (NCAP) gave it a zero-star safety rating in tests that are standards for Europe. The carmaker, which is cutting …

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Malaysia’s Malene Insurance Brokers Renamed Howden Takaful Brokers

Howden, the London-based international insurance broker, announced that further to its merger with Malene Insurance Brokers in February 2019, Malene will operate as Howden Takaful Brokers, a fully dedicated Takaful specialist. Howden Takaful Brokers’ team of 30 specialists offers bespoke …

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BRP Group Acquires Texas-Based Arcana

BRP Group, Inc. announced that Millennial Specialty Insurance, LLC, an indirect subsidiary of BRP Group, has acquired substantially all of the assets of Arcana Insurance Services, LP , a Dallas, Texas-based national insurance agency and program administrator, focused on better …

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Tuesday, December 7, 2021

Ransomware Operators Expected to Become More Aggressive: Canada Spy Agency

Global ransomware attacks increased by 151% in the first half of 2021 compared with 2020 and hackers are set to become increasingly aggressive, Canada’s signals intelligence agency said on Monday. The Communications Security Establishment (CSE), citing attacks on North American …

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Wholesale Brokers Look to Continue Offering Value While Addressing Talent Gap

The wholesale insurance market continues to grow premiums while providing value to retail agents and important options to their customers, according to a report commissioned by the Wholesale and Specialty Insurance Association (WSIA). But the segment must face the challenge …

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Ireland Braces for ‘Weather Bomb’ With Storm Barra’s Winds and Rain

Ireland braced for a so-called weather bomb, with Storm Barra’s violent winds and rain slamming the country Tuesday and Wednesday. The Irish Meteorological Service issued a red wind warning for three counties in the west and south of the country, …

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Hong Kong’s AIA Group Sells Nearly $10 Billion of Coal Investments

AIA Group Ltd. has sold off almost $10 billion of investments in coal mining and coal-fired power businesses as pressure grows on financial firms to cut ties with the sector. The insurer completed the entire sale of directly managed equity …

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Texas Windstorm Insurance Association Committee Recommends Willis Re for Reinsurance Broker

The Texas Windstorm Insurance Association’s Actuarial & Underwriting Committee met on December 6 to review best and final offers from respondents to the Association’s request for proposals for reinsurance broker services. The Committee voted to recommend to TWIA’s Board of …

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Minnesota Winter Storm Causes Hundreds of Car Crashes, No Fatalities

Snowfall reached nearly 1 foot on Sunday, Dec. 5 in some parts of northern Minnesota. The Minnesota State Patrol reported hundreds of car crashes during the storm. Authorities said 26 of the crashes resulted in injuries, but no fatalities were …

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Monday, December 6, 2021

People Moves: Sedgwick Pooling; Synapse Gets Energy

Memphis-based Sedgwick, the national claims management and benefits firm, announced it had elevated two longtime officers to new positions. Micheon Balmer will be managing director over Sedgwick’s national pooling operations in California, Michigan and Texas and will oversee specialty business. …

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Renaissance Adds Another Florida Insurance Agency

Hillcrest Insurance Agency in Mount Dora, Florida, is now part of the Renaissance Alliance, a network of independent agencies. Hillcrest offers coverage for construction, homeowners’ associations, restaurants, houses of worship and campgrounds. Renaissance, with offices in Southborough, Massachusetts, and Miramar, …

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Snowbirds Could Feel Chill: Citizens Revives Idea of Surcharge on 2nd Homes

Citizens Property Insurance Corp. officials have spoken extensively about the need to depopulate the insurer’s rolls and reduce its dramatic growth rate, and the measures Florida lawmakers can take to help with that. Ideas discussed in recent month include allowing …

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Sackler Family Denies Scheme to Abuse Bankruptcy System and Avoid Liability

Members of the Sackler family on Monday said billions of dollars they collected from Purdue Pharma before the company filed for Chapter 11 was the result of extra cash, not part of a “secret plan” to abuse the bankruptcy system. …

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Regulator Warns Banks That Ransomware Attacks Are Rising

A top U.S. banking regulator is cautioning firms to ensure they have robust policies to protect themselves from cyberattacks, saying it is seeing an uptick in ransomware attacks, it said in a report issued Monday. The Office of the Comptroller …

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Wisconsin Condominium Evacuated Due to Structural Issues

A six-story condominium building that was the subject of resident complaints dating back to June 2020 has been evacuated in a Milwaukee suburb after engineers found the structure was in imminent danger of collapsing. Police and firefighters cleared the 48-unit …

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California Man Arraigned on 14 Counts of Insurance Fraud in ‘Paper Collision’ Scheme

Farrukh Hussain, 37, of Eastvale, California, was arraigned on 14 felony counts of insurance fraud after allegedly stealing consumers’ identities to file 14 fraudulent insurance claims with six different insurance companies using a “paper collision” scheme – meaning most of …

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Liberty University Associate Professor Charged with Sexual Battery

A Liberty University associate professor has been charged with sexual battery and abduction involving an alleged incident with a student, according to court records and the university. Liberty University police arrested William Atwell on Nov. 20 and charged him with …

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Nevada Court Sides With Gunmakers in Deadly Las Vegas Shooting Suit

Nevada’s Supreme Court ruled gun manufacturers cannot be held responsible for the deaths in the 2017 mass shooting on the Las Vegas Strip because a state law shields them from liability unless the weapon malfunctions. The parents of a woman …

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Monarch E&S Acquires Assets of Anderson & Murison in California

Monarch E&S Insurance Services, a division of Specialty Program Group LLC, acquired the assets of Anderson & Murison Inc. in Los Angeles, California. A&M is a national surplus lines broker and underwriter of specialty commercial and personal lines insurance risks. …

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Alera Group Acquires New Jersey’s Customized Benefit Solutions

Alera Group, an independent, national insurance and wealth management firm, acquired Customized Benefit Solutions Inc. (CBSI), an employee benefits and insurance firm based in Hightstown, New Jersey. Terms of the transaction were not announced. CBSI provides group employee benefits, Medicare …

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Florida City Braces for Lawsuits Over Repeated Sewage Spills

The city of Bradenton, Florida, could soon find itself in the same spot as other local governments that have been accused of breaking federal law with repeated sewage spills. Led by Suncoast Waterkeeper, several environmental conservation groups announced that they …

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Salesperson Injured Leaving Employer Happy Hour Could be Eligible for Workers’ Comp

A traveling salesperson injured in a car accident after an employer-sponsored happy hour had to drive past the highway exit to his home on the way to the event, sparking debate over whether he was still considered “on the job” …

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U.S. Issues New Cybersecurity Directives for Rail Airport Operators

The Transportation Security Administration is issuing new directives and recommendations aimed at strengthening the cybersecurity defenses of U.S. rail and airport operators. The Biden administration said the requirements made public Thursday are part of a broader effort at protecting the …

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Meteorologists Say Unusually Warm Weather Is Due to Stuck Jet Stream, La Nina

America’s winter wonderland is starting out this season as anything but traditional. The calendar says December but for much of the country temperatures beckon for sandals. Umbrellas, if not arks, are needed in the Pacific Northwest, while in the Rockies …

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Judges Mull Whether Trump’s Reply to Rape Claim Is Protected Because He Was President

Federal appeals judges asked Friday whether a U.S. president’s every remark is part of the job as they weighed whether former President Donald Trump can be held liable in a defamation case that concerns his response to a rape allegation. …

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Italian Tycoons’ Challenge to Generali Hinges on Its Strategy for Asset Management

The two Italian billionaires who are challenging Mediobanca SpA’s decades-long grip over Assicurazioni Generali SpA want Italy’s largest insurer to focus more on asset management, as they draw up their plans ahead of a battle for control in the spring. …

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Arthur J. Gallagher Completes Minority Investment in MENA Specialist Broker ACE

Arthur J. Gallagher & Co. announced it has completed its 30% minority investment in Middle East & North Africa (MENA) specialist insurance broker ACE. Financial details of the deal, which was first announced in April, were not disclosed. Under the …

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UK Broker Aston Lark Acquires Client Book of Choice Benefits

Aston Lark, the London-based insurance broker backed by Goldman Sachs that is soon to become part of Howden, announced the acquisition of the client book of UK-based Choice Benefits Ltd. Financial details of the deal were not disclosed. Having advised …

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FEMA: $2.5 Billion Ida Aid Given to Louisiana Residents, Businesses

Louisiana residents and businesses have received $2.5 billion in federal aid related to Hurricane Ida, the Federal Emergency Management Agency said. It said another $27.8 million has been approved in public assistance grants for local governments and nonprofits. Ida was …

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Oakbridge Continues SE Expansion

Oakbridge Insurance Agency, a regional independent agency, announced it has continued its Southeast U.S. expansion plans by contracting with Your Insurance Centers, an agency in Alabama. The move into Alabama is the latest for Oakbridge, which was founded less than …

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Two Carolina Women Charged in Separate Insurance Fraud Cases

Two women have been charged with insurance fraud, one in connection with expired car insurance and one for providing false cancer treatment invoices, the North Carolina Department of Insurance announced. Clarlese Hobdy, 24, of Greensboro, was charged last week after …

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Florida DFS Adds More Property Insurance Fraud Investigators

Florida’s Department of Financial Services has added 13 employees, 10 of whom are sworn law enforcement officers, to investigate property insurance fraud in the state, Chief Financial Officer Jimmy Patronis said. The squads were authorized by the Legislature last year. …

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Sunday, December 5, 2021

Florida Growth will Mean More Cat Losses; Premiums Must Rise – Summit

With good news comes bad, and vice-versa in Florida’s growing but rapidly deteriorating property insurance market, industry analysts said at a two-day Florida Chamber of Commerce Insurance Summit last week. First, some of the good news: Florida is on track …

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Hub Acquires Assets of Alaska-Based Shattuck & Grummett

Hub International Ltd. acquired the assets of Shattuck & Grummett Insurance in Juneau, Alaska. John Grummett, Stacy Grummett, Rick Shattuck and Teresa Young, owners of Shattuck & Grummett Insurance, and the Shattuck & Grummett Insurance team will join Hub Northwest. …

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Takeaways from Our Conversation on Rare and Minor Cannabinoids

Rare and minor cannabinoids, which occur in much smaller quantities than CBD and THC, have yielded an alphabet soup of new acronyms in our language – CBN, CBG, THCV, Delta-8 THC, CBC – and they have the potential to boost …

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Update on Vaccine Mandates for Businesses, Health Workers and Federal Contractors

Millions of health care workers across the U.S. were supposed to have their first dose of a COVID-19 vaccine by Monday, Dec. 6 under a mandate issued by President Joe Biden’s administration. Thanks to legal challenges, they won’t have to …

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Climate Modeling Confirms Historical Records Showing Rise in Hurricane Activity

New results show North Atlantic hurricanes have increased in frequency over the last 150 years Jennifer Chu | MIT News Office When forecasting how storms may change in the future, it helps to know something about their past. Judging from …

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Friday, December 3, 2021

NFP Acquires Connecticut’s Insurance Provider Group

NFP, an insurance broker and consultant that provides property/casualty, corporate benefits, retirement and individual services, acquired the assets of Insurance Provider Group LLC (IPG). The transaction closed on October 6, 2021. Connecticut-based IPG is a property/casualty insurance broker that provides …

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People Moves: Burns & Wilcox Names Kaufman President; Arturo Adds Tulsian; Robinett Joins NFP

Daniel J. Kaufman will become president of wholesale broker Burns & Wilcox in January. He previously served as chief operating officer for Burns & Wilcox, the largest subsidiary of H.W. Kaufman Group. He is only the third president in the …

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California Judge Weighing in on Legality of Women Board Member Law

When then-California Gov. Jerry Brown signed the nation’s first law requiring women on boards of publicly traded companies, he suggested it might not survive legal challenges. Three years later, a judge will begin hearing evidence this week in Los Angeles …

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Data Hacked for 400K Planned Parenthood Patients in California

The Los Angeles branch of Planned Parenthood was hit by a data breach involving about 400,000 patients, but there is no indication that the information was used “for fraudulent purposes,” the group said. A hacker installed computer malware between Oct. …

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Agency in California Opposes Cruise Robotaxi Application, Citing Safety

San Francisco’s public transit operator has challenged an application by Cruise to charge for robotaxi rides, saying on Wednesday promotional videos from the General Motors Co unit show Cruise passengers illegally hopping in and out of vehicles in the middle …

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Sedgwick Acquires Belgian Engineering Consultancy ABESIM B.V.

Sedgwick, a global provider of technology-enabled risk, benefits and integrated business solutions, announced it has acquired ABESIM B.V. in Belgium. Financial details of the transaction were not disclosed. The acquisition of ABESIM will enhance Sedgwick’s existing business in Belgium, EFI …

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Jury Selection Begins in Trial Stemming from Workplace Death in Maine

Jury selection got underway Wednesday for the trial of a roofing contractor charged in the death of a worker who fell from a roof because of alleged unsafe working conditions. The trial of Michael Purvis was initially scheduled for March …

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Greensill’s Business Model Risks ‘High Level of Harm’; New Rules Needed: UK Watchdog

The business model used by collapsed supply chain financing firm Greensill Capital is causing a “high level of harm” and tighter rules are needed, Britain’s Financial Conduct Authority said on Friday. The watchdog set out proposals for public consultation to …

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The Hilb Group Acquires New Hampshire’s Clark & Lavey Benefits Solutions

The Hilb Group acquired Clark & Lavey Benefits Solutions Inc., increasing its New England presence and bolstering its range of employee benefits offerings nationwide. The transaction became effective November 1, 2021. Based in Merrimack, New Hampshire, Clark & Lavey Benefits …

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MCI Lloyd’s Syndicate 1902 Offers ‘Ground-Breaking’ Infectious Disease Liability Cover

Specialist liability underwriter Medical & Commercial International (MCI) announced the launch of a ground-breaking communicable disease liability (CDL) cover. Based on extensive epidemiological research by leading scientists and liability practitioners, MCI said it will be the world’s first and only …

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USDA Revises Rules on Crop Insurance for Hemp Producers

The U.S. Department of Agriculture is changing some rules around crop insurance for hemp, including making the insurability requirements more flexible. USDA’s Risk Management Agency (RMA) has also added a new requirement for producers who grow direct-seeded hemp and is …

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Severe Australia Floods to Worsen, Raising Costs to Farmers

Severe flooding episodes across vast swathes of eastern Australia this week show no signs of relenting as costs to farmers continue to mount, with another bout of heavy rain on course to hit the already sodden growing regions over this …

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Hundreds of Thousands of Farm Animals Perish in Canada Floods

Hundreds of thousands of livestock have perished in floodwaters in Canada’s westernmost province, the British Columbia government said Thursday. Back-to-back deluges from atmospheric rivers have damaged major transport routes, forced evacuations and briefly isolated Canada’s biggest port. The agricultural region …

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Insured Price Tag for Europe Windstorm Hendrik-Ignatz (Aurore) Estimated at €311M

Initial insured losses for extratropical windstorm “Hendrik-Ignatz,” also known as “Aurore,” are estimated at €311 million ($352 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The storm, which affected north-western and central Europe from …

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Louisiana Lawmakers Offer Insurance Complaints After Ida

Slow responses to damage claims. Constant switch-ups of insurance adjusters assessing the destruction. Low payment offers forcing people unnecessarily into litigation to get a fair deal. Louisiana lawmakers and others said Wednesday that those are the problems they’re seeing and …

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Safety Advocates Are Worried As Teen Truckers Hit the Road

Dezjion Henson has wanted to be a truck driver his whole life. When he turned 18 last year he jumped at the chance and signed on as an apprentice with Total Transportation of Mississippi, LLC in Richland, Mississippi. “Growing up, …

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Thursday, December 2, 2021

Cash Found in Condo Collapse to Be Distributed; Trial Could Start in Summer

A Florida judge said that lawsuits over the collapsed condominium tower in Surfside will likely go to trial by summer. But thousands of dollars in cash found in the rubble could be distributed to former residents within weeks. And the …

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People: ClearPath Mutual Names Taylor CFO

Jillian Taylor, the former chief financial officer at Lawyers Mutual of Kentucky, has been named CFO at Louisville-based ClearPath Mutual Insurance Co., the company announced. Taylor has 11 years in the industry and 16 years in accounting and finance. Prior …

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Insuring Cannabis Summit: What Will the Market Look Like 5 Years from Now?

This is part of a series of articles from Insurance Journal’s annual Insuring Cannabis Summit on Oct. 14. You can find more articles from the summit at the bottom of this one. The green rush, a term for talent crossing …

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U.S. Calls for Outer Space Norms After ‘Irresponsible’ Russia Test

U.S. Vice President Kamala Harris on Wednesday criticized an “irresponsible” Russian test that endangered the International Space Station with debris, and the Biden administration laid out a new strategy for responsible use of space. Harris convened the inaugural meeting of …

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People Moves: Aon Makes Slyfield in California Chief Innovation Officer; Alliant Names O’Malley First Vice President

Aon plc named Jillian Slyfield as the firm’s chief innovation officer. Slyfield, who is based in San Francisco, California, will report to Aon CEO Greg Case and join the Aon executive committee. Slyfield assumes the responsibilities of Tony Goland, who …

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Facebook Whistleblower Tells Congress ‘Time Is of Essence’ in Social Media Law Reform

Ex-Facebook employee and whistleblower Frances Haugen implored lawmakers Wednesday to avert the usual congressional stalemates as they weigh proposals to curb abuses on social media platforms by limiting the companies’ free-speech protections against legal liability. Still, Haugen urged caution in …

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California Autonomous Delivery Service Rolling out from Nuro, 7-Eleven

Self-driving tech startup Nuro said on Wednesday it was rolling out California’s first commercial autonomous delivery service in partnership with 7-Eleven, a convenience store operator. Nuro and rivals such as Waymo are launching or planning to launch autonomous delivery services …

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New York Man Indicted for Workers’ Comp Insurance Fraud Scheme

A Bronx, New York, man has been indicted on grand larceny, insurance fraud and additional charges for falsely claiming he was fully disabled and unable to work at his state job so he could collect more than $35,000 in workers’ …

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World Insurance Associates Acquires New Jersey’s Coe-Brooke Insurance Agency

World Insurance Associates LLC (WIA) acquired Coe-Brooke Insurance Agency Inc. of Point Pleasant, New Jersey, on November 1, 2021. Terms of the transaction were not disclosed. Coe-Brooke Insurance Agency Inc. is a family owned and operated agency with more than …

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$3.5M Police Wrongful-Death Suit Settled in Washington

Seattle, Washington will pay $3.5 million to settle a wrongful-death civil lawsuit filed on behalf of the children of a pregnant Black woman who was fatally shot by two white Seattle police officers in 2017. Karen Koehler, a Seattle attorney …

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Ten Maine Communities Working Together to Prevent Flooding

Ten Maine coastal communities on Casco Bay are banding together in hopes of being able to help prevent future flooding. Over the next two years, the Casco Bay communities will invest a half million dollars on projects that could include …

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People Moves: Hartford’s Pasterfield Named CEO of MS Amlin Business Services; Former Morrison Chair Higginson to Lead Ardonagh Retail Unit in UK

This edition of International People Moves details appointments at MS Amlin and Ardonagh Group. A summary of these new hires follows here. MS Amlin Corporate Services Ltd. (MS ACS) announced that Matt Pasterfield will be joining us next year as …

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Construction Industry Faces ‘New Age’ Risks Along with Strong Growth Outlook

The global construction industry’s risk landscape will be transformed by radical changes in design, materials and processes as the industry enters a sustained period of strong growth. The post-Covid-19 growth will be driven by government spending on infrastructure and the …

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Chubb and Chile Insurtech Betterfly Form Partnership for LatAm Offering

Chubb Ltd. is joining with insurance-tech startup Betterfly for offerings in Mexico, Colombia, Ecuador, Chile and Argentina as the companies seek to tap into under-served Latin American markets. The partnership will focus on reaching 100 million people by 2025 and …

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Fed’s Powell Prepares for Possible Pivot With Inflation Risks Rising

The U.S. central bank needs to be ready to respond to the possibility that inflation may not recede in the second half of next year as most forecasters currently expect, Federal Reserve Chair Jerome Powell said on Wednesday. In his …

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Update on Court Challenges to Biden Covid Vaccine Rules

Courts have recently blocked some of the Biden administration’s rules and regulations aimed at increasing U.S. vaccination against COVID-19, which has killed more than 750,000 Americans and weighs on economic growth. The vaccine requirements have been challenged by Republican state …

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Convex Europe Receives UK Regulatory Approval

Convex Group Ltd. announced that the UK branch of its recently established Luxembourg-based European insurer, Convex Europe SA (CES) has received approval from the UK regulators: the Financial Conduct Authority and the Prudential Regulation Authority, effective immediately. CES is now …

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Willis Towers Watson Launches Industry Risk Forum for Ports and Terminals

Insurance broker Willis Towers Watson announced the launch of a dedicated risk forum for the ports and terminals industry. With ports and terminals client members worldwide, as well as risk forum specialists from Willis Towers Watson, the forum acts as …

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European Insurers Wary of Rising Threat of Sanctions Against Nord Stream 2 Pipeline

A simmering threat of sanctions against the operator of the $11 billion Nord Stream 2 pipeline risks shutting off cover from European insurers for the politically sensitive project to bring Russian gas directly to Germany. Kremlin-backed energy giant Gazprom leads …

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Howden Acquires UK Specialist Broker Ross Insurance Group

Howden, the international re/insurance broker, announced it has acquired Ross Insurance Group, a commercial broker servicing corporate and technology clients, as it continues to invest in expertise for its UK business. Ross Insurance Group currently offers a broad range of …

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Arthur J. Gallagher & Co. Buys Australia’s Sound Insurance Services

Arthur J. Gallagher & Co. announced the acquisition of Caulfield, Victoria-based Sound Insurance Services in Australia. Terms of the transaction were not disclosed. Founded in 2011 by Simon Feldman and Morris Alessi, Sound Insurance is a retail property/casualty broker serving …

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Texas Barge Company to Pay More Than $15 Million Over Oil Spill

Houston, Texas-based Kirby Inland Marine LP has agreed to pay $15.3 million in damages and assessment costs under the Oil Pollution Act to resolve federal and state claims for injuries to natural resources resulting from an oil spill from a …

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Michigan Abandons Oil Pipeline Suit, Refocuses on Separate Case

Michigan Gov. Gretchen Whitmer abandoned a lawsuit Tuesday, Nov. 30 aimed at shutting down an oil pipeline that runs through part of the Great Lakes but said the state would continue pursuing a separate case with the same goal. Whitmer’s …

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Wednesday, December 1, 2021

Nebraska Jury Awards $26 Million in Malpractice Lawsuit

A Douglas County jury has awarded $26.1 million to a Sarpy County family who sued Children’s Hospital and Medical Center in Omaha after their child was sent home following an accidental fall and then suffered seizures that left her permanently …

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DOJ, Texas Church Shooting Victims At Odds Over How Much Air Force Owes

The U.S. Justice Department and survivors of a 2017 Texas church massacre are at odds over how much the Air Force should pay in compensation for failing to flag a conviction that might have prevented the gunman from legally buying …

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Walmart Said She Shoplifted; Jury Awards Her $2.1 Million

An Alabama woman who says she was falsely arrested for shoplifting at a Walmart and then threatened by the company after her case was dismissed has been awarded $2.1 million in damages. A Mobile County jury on Monday ruled in …

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Florida Appeals Court Rejects Insurer’s Attempt to ‘Retry the Claim’

An appellate court’s job is to determine whether evidence supports the workers’ compensation judge’s decision, not to weigh information about arguments that have already been rejected, Florida’s 1st District Court of Appeals said Wednesday. In Ranger Construction Industries and Charter …

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4 Employees Sue Bristol Myers Claiming They Were Denied Vaccine Religious Exemptions

Bristol Myers Squibb Co. was sued on Wednesday by four employees who said the drugmaker refused to grant them religious exemptions from its COVID-19 vaccination requirement, and threatened to fire them on Dec. 6 for remaining unvaccinated. The plaintiffs in …

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People Moves: PCF in Utah Adds O’Hara, Banyai and Marino

Lehi, Utah-based PCF Insurance Services named Colleen O’Hara vice president of marketing and communications, Charles Banyai vice president of regional operations and Lori Marino vice president and regional growth leader. O’Hara will oversee the development, integration, and implementation of a …

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Judge Tosses $10B Advertising Bias Lawsuit Against McDonald’s for Insufficient Evidence

A U.S. judge has dismissed a $10 billion lawsuit against McDonald’s Corp. by the media entrepreneur Byron Allen, who accused the fast-food chain of racial discrimination for not advertising with Black-owned media. U.S. District Judge Fernando Olguin in Los Angeles …

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Amazon’s New FleetWise Transfers Vehicle Data to Cloud to Aid Safety, Design

Amazon Web Services has launched a new cloud-based data service that could help automakers remotely diagnose issues in their vehicles to prevent recalls and improve safety, as well as manage related data, the company told Reuters. Called AWS IoT FleetWise, …

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Ryan Specialty Acquires Crouse and Associates in California

Ryan Specialty Group acquired transportation specialist Crouse and Associates in San Francisco, California. The Crouse team is now a part of RT Specialty, the wholesale brokerage division of Ryan Specialty. Crouse has additional offices throughout California and Oregon as well …

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Risk Strategies Acquires New Jersey’s KRA Insurance Agency

Risk Strategies, a national specialty insurance brokerage and risk management firm, has acquired full-service brokerage firm KRA Insurance Agency Inc. Included in the transaction is KRA’s wholly owned subsidiary, KRA Life Agency Inc. Terms of the deal were not announced. …

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Virginia School District Suit Settled Over Treatment of Students with Disabilities

Virginia’s largest school district has reached a settlement with parents and advocacy groups over the treatment of students with disabilities. The Washington Post reported that the settlement effectively ends more than two years of litigation against the Fairfax County Public …

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People Moves: Promotions at Erie, Cross Insurance

Erie Insurance Names Leemhuis as Vice President, Corporate Risk Officer Erie Insurance has named Dorothy Leemhuis as the company’s next vice president and corporate risk officer, effective January 1. In this role, Leemhuis will lead the company’s enterprise risk management …

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High Street Acquires 27 Former Nationwide Agencies

Michigan-based High Street Insurance Partners reported it has acquired 27 former Nationwide exclusive insurance agencies in North Carolina, South Carolina, Pennsylvania, Tennessee and Maryland. The company said all of the 27 agency presidents will remain active in the business and …

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Finland Battles Malware Attack Spread by Text Messages

Finland is working to stop a flood of text messages of an unknown origin that are spreading malware. The messages with malicious links to malware called FluBot number in the millions, according to Aino-Maria Vayrynen, information security specialist at the …

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People Moves: WTW Names Marsh’s Monaghan GB Transportation Leader; Sethu Leads Sustainability & ESG at MS Amlin; Howden’s Levett Is Head of Mkt. Mgmt. at Miller

This edition of International People Moves details appointments at Willis Towers Watson, and two new roles at MS Amlin and broker Miller. A summary of these new hires follows here. WTW Names Marsh’s Monaghan as GB Industry Transportation Leader Insurance …

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Xenia Buys UK Trade Credit and Surety Broker, Peter Hill Credit & Financial Risks

The credit insurance and surety specialist, Xenia Broking Group, announced it has acquired Peter Hill Credit & Financial Risks Ltd., based in Northampton, England. Peter Hill is a leading specialist trade credit insurance and surety broker, with a particular focus …

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Western Canada Braces for Another Deluge From ‘Atmospheric River’

British Columbia, home to Canada’s biggest port, is bracing for its most intense deluge after a series of damaging rain storms and historic flooding. A so-called atmospheric river is threatening to dump more water on parts of the far west …

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Howden Acquires Specialist Broker Expat Marine in Hong Kong

Howden, the international insurance broker, announced the acquisition of the assets of Expat Marine Ltd. (EML), a specialist insurance broker providing employee benefits and general insurance products and advice to clients in Hong Kong. Financial terms of the deal were …

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Gallagher Completes $3.25B Purchase of Willis’ Treaty Reinsurance Brokerage Business

Arthur J. Gallagher & Co. announced it has completed the $3.25 billion acquisition of nearly all of the treaty reinsurance brokerage operations of Willis Towers Watson plc. Together with Gallagher’s existing reinsurance operations, the combined businesses will trade as Gallagher …

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