Yale Discriminates Against Students With Mental Health Issues, Lawsuit Claims

Yale University was sued for allegedly violating the Americans with Disabilities Act by unfairly penalizing students who are dealing with mental-health issues. For decades, Yale has “treated unequally and failed to accommodate students with mental health disabilities, including by modifying …

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California Labor Commissioner Cites Car Wash $900K for Wage Theft

The California Labor Commissioner’s office cited Shine N Brite Car Wash $908,998 for wage theft violations affecting 15 workers. The Los Angeles-based employer was cited for minimum wage, overtime and rest break violations. An investigation reportedly showed that workers, who …

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FEMA COVID-19 Reimbursement Surpasses $4 Billion in Mid-Atlantic States

The Federal Emergency Management Agency has provided more than $4 billion to the Mid-Atlantic region for costs related to protecting the public from COVID-19. The federal funding reimbursed communities for costs associated with emergency protective measures taken in the immediate …

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Judges Appear Skeptical of Fired Amazon Organizer’s Race Bias Claims

A U.S. appeals court on Tuesday seemed unlikely to revive claims that Amazon.com Inc. fired New York warehouse worker Christian Smalls, a pivotal figure in a campaign to unionize the company’s workforce, because of his race. A three-judge 2nd U.S. …

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Western Governments Struggle to Set Russian Oil Price Cap Before Dec. 5

Western governments want to set a maximum purchase price for Russian oil on the world market to limit Moscow’s ability to raise money for its war on Ukraine. The plan is meant to punish Russia while at the same time …

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Walmart Sued by Employee Over Deadly Shooting

An employee at the Walmart in Chesapeake, Virginia, where a supervisor fatally shot six people last week, filed a lawsuit on Tuesday against the company, claiming she and others had warned management about the shooter’s behavior and that nothing was …

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Massachusetts Man Pleads Guilty in Physical Therapy Insurance Scam

A Boston man pleaded guilty in federal court in connection with a scheme to defraud an insurance company for physical therapy services that were not provided to patients, according to prosecutors. Officials said Slava Pride pleaded guilty to one count …

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Report: It Takes 7 Years to Close Most California Workers’ Comp Claims

It takes seven years to close the vast majority of workers’ compensation claims in California, more than double the time in the median state. The Workers’ Compensation Insurance Rating Bureau of California released a report detailing duration drivers for California …

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Google Play Fee Suit by Consumers Grows to 21 Million Users

Google now faces more than 21 million customers, instead of just a handful, in a lawsuit alleging its app store collects exorbitant fees. A federal judge exponentially increased the Alphabet Inc. unit’s damages exposure by granting class-action status Monday in …

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FTX Crash Injects Urgency Into Regulating Crypto Sector: Global Securities Watchdog

The crash of FTX exchange has injected greater urgency into regulating the crypto sector and targeting such ‘conglomerate’ platforms will be the focus for 2023, the new chair of global securities watchdog IOSCO said in an interview. Jean-Paul Servais said …

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Central Florida’s Insurance Land Joins Renaissance Alliance

Insurance Land, an independent agency with offices in Sanford and Deland, Florida, has joined the Renaissance Alliance network of agencies, the firm said in a news release. The agency, in business since 1984, offers commercial and personal lines and will …

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Fidelis Receives Regulatory Nod to Create New MGU, Split Business

Fidelis Insurance Holdings Ltd. announced it has received regulatory approval to create a new managing general underwriter (Fidelis MGU), which is separate from the existing balance sheet insurance companies – known as the Fidelis Insurance Group. Originally announced and agreed …

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Markel International Merges Professional and Financial Risks Division With Cyber Team

Markel International, a subsidiary of Markel Corp., announced it will merge its professional and financial risks (PFR) division with its recently expanded cyber team. The decision to merge the two divisions is part of the wholesale business’ efforts to simplify …

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Climate Activists’ Attacks on Paintings Add to Insurers’ Worries About Threats to Art

Climate activists’ attacks on some of the world’s most precious paintings have added to insurers’ worries about the threat to art from climate change itself, concerns seen as leading to higher art insurance premiums. In recent weeks, activists have drawn …

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Wildfire Mitigation Plan Would Cut 2.4 Million New Jersey Pinelands Trees

BASS RIVER TOWNSHIP, N.J. (AP) — Up to 2.4 million trees would be cut down as part of a project to prevent major wildfires in a federally protected New Jersey forest heralded as a unique environmental treasure. New Jersey environmental …

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Ardonagh Group to Buy Australian Insurance Investment, Distribution Firm Envest

The Ardonagh Group, the London-based independent insurance distribution platform, announced it has agreed to acquire Envest Pty Ltd., an Australian insurance investment and distribution business. Headquartered in Brisbane, Queensland, Envest operates with a diverse portfolio of brands and a national …

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FTX Collapse Ensnares Creditors Big and Small Across the Globe

From a German bank seeking a more than $2 million payment to a Chinese investor requesting $21,000 of lost savings. Claimants around the world who were caught up in the epic collapse of FTX Group are beginning to appear in …

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Insurance Journal Releases New Single from First Insurance-Themed Holiday Album

Insurance Journal, a Wells Media Company, is pleased to announce the release of its entertaining first single, “O Property O Casualty“, from the first ever album of Insurance-themed holiday carols – “Have A Claims Free New Year” – due to …

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Cyber Protection as Important as Missile Defense Systems: Retired NATO General

A cyber attack on the German ports of Bremerhaven or Hamburg would severely impede NATO efforts to send military reinforcements to allies, retired U.S. General Ben Hodges told Reuters. The European Commission proposed an action plan to bolster cyber defense …

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Australia’s Extreme Weather Events to Worsen as Climate Warms: Report

Australia will experience an increase in extreme heat, intense rainfall and coral-bleaching events, as well as longer fire seasons and more rapidly rising sea levels, according to the government’s chief science and weather agencies. In a dire report released Wednesday …

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Indonesia Earthquake Kills 268 Amid Collapsed Homes, Landslides

A quake in Indonesia killed at least 268 people as the search continues for victims amid landslides and collapsed buildings. The 5.6-magnitude earthquake that struck West Java on Monday damaged more than 20,000 homes, leaving thousands injured and hundreds still …

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U.S. Supreme Court Rebuffs Dispute Over Nursing Home COVID Suits

The U.S. Supreme Court on Monday declined to hear California nursing home operator Glenhaven Healthcare’s bid to avoid a lawsuit filed in state court over the COVID-19 death of a resident, turning away the company’s effort to move the case …

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NBA Champion Golden State Warriors Are Sued Over FTX Collapse

The Golden State Warriors were sued on Monday by an FTX customer who accused the reigning National Basketball Association champions of fraudulently promoting the now-bankrupt cryptocurrency exchange. Elliott Lam, a Canadian citizen and Hong Kong resident, filed his proposed class-action …

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Russia Says It Won’t Sell Oil to Nations That Cap Prices

Russia doesn’t plan to supply crude or oil products to nations that implement a price cap, according to Deputy Prime Minister Alexander Novak. Instead, Russia will redirect its oil supply to “market-oriented partners” or will reduce production, Novak said in …

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People Moves: Renewable Energy Lead at Marsh Specialty; Regional D&O Team Hires at AXA XL; Chubb Names Chief Culture Officer

Marsh Specialty Appoints Kolodner Global Renewable Energy Leader Marsh has appointed Michael Kolodner as global renewable energy leader, Marsh Specialty. Kolodner rejoined Marsh in 2020 as U.S. power and renewable energy leader. In his new role, he will maintain his …

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Aircraft Lessors Sue Insurers for $6.5 Billion Over Planes Trapped in Russia

Aircraft leasing firms are suing dozens of insurers for around $6.5 billion in a string of lawsuits over the loss of hundreds of aircraft stuck in Russia since Moscow’s invasion of Ukraine. More than 400 leased planes worth around $10 …

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Washington Contractor Faces Felony Theft Charge in Reported Workers’ Comp Scam

An Everett, Washington, man reportedly caught remodeling homes while claiming he was too injured to work has been charged with felony theft in a workers’ compensation fraud case. Terry Lee Dawson, 62, is accused of stealing more than $55,000 in …

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Residents Await Fix for Pennsylvania Methane Leak

A vent at an underground natural gas storage well in Western Pennsylvania has been spewing massive amounts of planet-warming methane into the atmosphere for more than 11 days and attempts to plug the leak have thus far failed. Owner Equitrans …

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FTX Collapse Shows Need to Regulate Crypto World: Bank of England

The implosion of cryptocurrency exchange FTX shows the need to bring the crypto world within the regulatory framework, Bank of England Deputy Governor Jon Cunliffe said on Monday. FTX, which has filed for U.S. bankruptcy court protection, has said it …

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Tesla Safety Is Focus of South Korean Criminal Trial Over Fiery, Fatal Crash

In an upscale Seoul neighborhood two years ago, a white Tesla Model X smashed into a parking lot wall. The fiery crash killed a prominent lawyer – a close friend of South Korea’s president. Prosecutors have charged the driver with …

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Persistent ‘Underperformance’ at SCOR Prompts S&P Downgrade to ‘A+’

S&P Global Ratings announced that the rating agency is lowering the “AA-” financial strength and long-term issuer credit ratings for global reinsurer SCOR SE and its operating subsidiaries, highlighting persistent underperformance as the reason for the downgrades. “SCOR’s operating performance …

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Rodgers, NFL Players Urge League to Nix Turf, Go With Grass

Aaron Rodgers has hit the ground in every NFL stadium except one. And while the “frozen tundra” of Lambeau Field has delivered its share of bumps and bruises, the venues with artificial turf have been even rougher on Rodgers’ nearly …

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Report: 158 Priests Accused of Abuse, More Than 600 Victims in Baltimore Diocese

An investigation by Maryland’s attorney general identified 158 Roman Catholic priests in the Archdiocese of Baltimore who have been accused of sexually and physically abusing more than 600 victims over the past 80 years, according to court records filed Thursday. …

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Massive Snowfall Buries Western and Northern New York

BUFFALO, N.Y. (AP) — A dangerous lake-effect snowstorm paralyzed parts of western and northern New York on Friday, dumping over 5 feet in some spots with more expected to fall through the night into Saturday. The storm was blamed for …

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United Airlines to Pay Buddhist Pilot $305K to Settle Religious Discrimination Claim

United Airlines will pay $305,000 to a Buddhist pilot and will provide other relief to settle a religious discrimination lawsuit filed by the Equal Employment Opportunity Commission (EEOC), the federal agency’s New York office announced. According to the EEOC’s lawsuit, …

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Florida Judge Dismisses NFL Kicker Josh Lambo’s Lawsuit Against Jaguars, For Now

A judge has dismissed NFL kicker Josh Lambo’s lawsuit against the Jacksonville Jaguars in which Lambo sought back pay and damages for emotional distress caused by former head coach Urban Meyer. Judge Gilbert Feltel Jr., of the Duval County Circuit …

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Explosive Residue Found at Site of Nord Stream Leaks, Confirming Sabotage: Sweden

Investigators have found traces of explosives at the site of the damaged Nord Stream gas pipelines, confirming sabotage had taken place, a Swedish prosecutor said on Friday. Swedish and Danish authorities are investigating four holes in the Nord Stream 1 …

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Taiwan’s Financial Services Firms Cut China Exposure by 20% to Record Low

Taiwan’s financial institutions reduced their China exposure to a record low amid economic and political uncertainties, according to its top financial regulator. Total exposure to China at Taiwanese banks, insurers and securities firms have dropped by 20% from a year …

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China’s Sunshine Insurance Gets Approval for $1 Billion IPO: Sources

China’s Sunshine Insurance Group Co. has received approval from the Hong Kong stock exchange for an initial public offering that could raise about $1 billion, according to people familiar with the matter. The Beijing-based company may start taking investor orders …

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UK Government Pushes Forward With Long-Awaited Insurer Reforms

After years of fraught debate between regulators, insurers and the Treasury, Jeremy Hunt confirmed Thursday that the government would push forward with reforms to a corner of the City of London that’s intended to release billions of pounds of investment …

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Turkey to Demand Oil Tankers Have Proof of Insurance, Adding Teeth to Russia Sanctions

Turkey is to demand that oil tankers passing through its key Bosphorus shipping strait must provide proof that they have adequate insurance, a move that could have implications for Russia’s giant crude-exports program. Ships hauling oil through the waterway and …

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Trump Firm’s Longtime CFO, Still on Payroll, Testifies on Tax Scheme at Fraud Trial

Donald Trump’s jail-bound longtime finance chief is still a company man, collecting a hefty salary from the former president’s namesake Trump Organization even as he makes his long-awaited turn as the prosecution’s star witness in a criminal tax fraud trial …

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IRB Brasil Re’s CEO Carvalho Resigns; Board Elects Falcao as Successor

IRB Brasil Resseguros SA said on Thursday that chief executive Raphael de Carvalho had resigned after just over a year in the position, following a difficult few months at the Brazilian reinsurer. At an extraordinary meeting, IRB’s board of directors …

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NFP Acquires Dublin-Based Life & Health Adviser, Tailored Finance Ltd.

NFP, the New York City-based property/casualty insurance broker and consultant, announced the acquisition of Dublin-based health and life insurance adviser, Tailored Finance Ltd. This is NFP’s first healthcare-focused acquisition in the Irish market, which expand its portfolio of services and …

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Bank of England Chief Questions Government Plan for Post-Brexit Financial Rules

Bank of England Governor Andrew Bailey took the British government to task on Wednesday over its plan to give itself veto powers over post-Brexit financial rules written by independent regulators, including the central bank. Britain’s government has promised a deregulatory …

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Walmart Offers to Pay $3.1B to Settle Opioid Lawsuits

Walmart proposed a $3.1 billion legal settlement on Tuesday over the toll of powerful prescription opioids sold at its pharmacies, becoming the latest major drug industry player to promise major support to state, local and tribal governments still grappling with …

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California Workers’ Comp Benefits to Increase in 2023

California’s State Average Weekly Wage rose by more than 5% in the year ending March 31, 2022, which will result in an increase in California workers’ compensation temporary total disability and permanent total disability rates for 2023 work injury claims …

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One County in Florida Took the Brunt of Hurricane Nicole with $522M in Damage

Damages are estimated at more than $522 million in a central Florida coastal county where homes collapsed into the Atlantic Ocean following Hurricane Nicole last week. The damages from the category 1 storm in Volusia County, home to Daytona Beach, …

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Ryan Specialty Transactional Risks International Opens Office in Copenhagen

Ryan Specialty announced that Ryan Specialty Transactional Risks International has expanded their presence with an office in Copenhagen, Denmark, which is the business’ fourth office. Transactional Risks International is a part of Ryan Specialty’s Underwriting Managers platform and specializes on …

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Counting the Rising Cost of Climate Change With Top Most Costly Natural Disasters

Climate change has raised the cost of natural disasters, as rising sea levels and drought increase the frequency and severity of flooding and wildfires, insurers and risk modeling experts say. The list of the 10 most expensive events of the …

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UK Insurtech, Send Technology, Raises £9 Million to Expand in UK and U.S.

Send Technology Solutions Ltd., the London-based insurtech, announced it has closed a Series A funding investment of £9 million ($10.7 million). The round was led by Venture Capital firm Breega with participation from Mercia and will enable Send to accelerate …

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UK Government in Advanced Talks With Regulators on Insurance Capital Reforms

The UK government is close to an agreement with regulators over insurance capital reforms intended to release billions of pounds of investment into the economy. Jeremy Hunt, the Chancellor of the Exchequer, will announce the details as part of the …

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Goldman Sachs Paid Over $12M to Bury Partner’s Claim of Sexist Culture

Goldman Sachs Group Inc. paid out well over $12 million to a veteran executive who complained internally about a toxic workplace for women in the highest echelons of Wall Street’s most prestigious firm. The bank settled with the departing partner …

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Gallagher Acquires NC-based Intellectual Property Insurance Firm

The global insurance brokerage and consulting firm, Arthur J. Gallagher & Co., has acquired a North Carolina-based intellectual property insurance firm. PIUS, or Patent Insurance Underwriting Services, is considered a managing general agent. Its services allow clients to insure patented …

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16 Hurt When Semitrailer Strikes Bus Carrying Hockey Team in Indiana

Sixteen people have been injured, three critically, after a semitrailer collided with a bus carrying a youth hockey team from Chicago in northern Indiana, police said. Investigators believe alcohol was a factor in the collision and police arrested the semitrailer …

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Antares Bermuda Receives Approval From Lloyd’s to Write Business as Coverholder

Antares announced that Antares Global Management (Bermuda) Ltd. (AGML Bermuda) has received approval from Lloyd’s to operate as a Lloyd’s in-house coverholder. This will enable AGML Bermuda to write Lloyd’s business on behalf of Antares Syndicate 1274 from Bermuda, in …

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People Moves: Coppola New CUO at QBE; FlashFlood Names N.A. CEO; Liberty Mutual Hires in Energy, Construction

QBE North America Appoints Coppola Chief Underwriting Officer QBE North America has appointed Laura Coppola as chief underwriting officer. Coppola joins the company with more than 25 years of technical underwriting experience in property casualty insurance. Coppola is based in …

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Vintage Aircraft Collision at Dallas Air Show Kills 6

DALLAS (AP) – Two historic military planes collided and crashed to the ground in a ball of flames during a Dallas air show, leaving six people dead, officials said. National transportation officials were investigating the cause of Saturday’s collision, which …

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Aon Buys Mexico’s ERN, Expanding Its LatAm Catastrophe Modeling Capabilities

Aon plc, the global professional services firm, expands its catastrophe modeling and consultancy capabilities in Latin America with the acquisition of ERN (Evaluación de Riesgos Naturales), a Mexico-based leader in risk assessment modeling. Financial details of the deal were not …

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UK Government Rushes to Outline Proposed Power to Overrule Financial Regulators

The UK government is rushing to outline a proposed power to overrule the City of London’s financial regulators, as it tries to avoid accusations that the move is an attack on their independence. The power is due to be added …

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3 Australian Banks Settle Class Action Lawsuits Over Sale of Credit Insurance Products

Three of Australia’s “big four” banks settled separate class action lawsuits for A$126 million ($84.51 million) with Slater & Gordon, who took the banks to court two years ago over sale of credit insurance products, the companies said on Monday. …

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Half a Million UK Workers Drop Out of Workforce Citing Long-Term Illness, Mental Health Problems

The number of people who have dropped out of Britain’s job market since 2019 and who now cite a long-term illness or mental health problems has risen by half a million or about 25%, the Office for National Statistics (ONS) …

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Elizabeth Holmes Should Get 15 Years’ Prison for Fraud, US Says

Former Theranos Inc. Chief Executive Officer Elizabeth Holmes should spend 15 years in prison for committing one of the most serious white-collar crimes in Silicon Valley history, prosecutors told the judge who will sentence her. In a request filed late …

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Abortions, Drug Use Exposed in Cyber Attack on Australian Health Insurer Medibank

When the Australian health insurer Medibank Private Ltd. was hit with a ransomware attack last month, it provided regular updates to its customers, including the revelation that personal information from nearly 10 million of them was exposed. It also followed …

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Report: Insurance Industry Spent $3.1B with California Diverse Businesses

New data from the California Department of Insurance suggests some progress in the department’s push for California’s $409 billion insurance industry to partner more with the diverse small businesses. The latest results from the California Insurance Diversity Survey for 2021 …

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Reuters: Russian Oil Cap Spurs Insurer Fears of Oil-Laden Ships Being Left at Sea

Oil-laden tankers risk being left languishing at sea if insurers do not urgently get clarity on an unfinished G7 and European Union plan to cap the price of Russian crude, two senior industry executives told Reuters. The Group of Seven …

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Medibank Hack Could Cost A$700M for Damages and Fixes

The data breach at Medibank Private Ltd. could cost the Australian health insurer A$700 million ($450 million) if customers decide to sue for damages after personal medical details were posted to a forum on the dark web, according to Bloomberg …

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Global Securities Regulators Plan Closer Scrutiny of Carbon Trading

Global securities regulators proposed closer scrutiny of carbon trading on Wednesday to deepen liquidity and prevent greenwashing in markets used by companies to offset their emissions to drive the transition to a net-zero economy. The International Organization of Securities Commissions …

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Training the Next Generation of Cyber Ninjas with Continuing Education

As cyber attack methods are constantly evolving, guests on this episode of The Insuring Cyber Podcast offered their best advice for how to evolve with them. “This idea of being cyber resilient really involves planning for that worst day, ensuring …

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Incumbent King On Way to Winning Georgia Insurance Commissioner Election

With 97% of precincts and counties having reported, incumbent Republican John King was leading Democratic challenger Janice Laws Robinson in the Georgia insurance commissioner race as of Wednesday morning. King had 54% of the vote to 46% for Robinson. King …

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Ambac Acquires New Jersey Commercial Auto MGU and Marine Broker

Financial services holding company Ambac Financial Group, Inc. announced that it has acquired majority stakes in both All Trans Risk Solutions, LLC and Capacity Marine Corp, both of Mahwah, New Jersey. All Trans is a managing general underwriter (MGU) specializing …

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Data Stolen From Australian Health Insurer Medibank Posted on Dark Web

Data stolen from an Australian health insurer, including the names, addresses and birthdates of hundreds of customers, has been posted to a forum on the so-called dark web. The files appear to be a sample of the data that was …

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Insuring Cannabis Summit: Experts Answer Social Media’s Toughest Questions

“What are the hardest lines of insurance to write for cannabis businesses?” That question took Stephanie Bozzuto, co-founder of Cannabis Connect Insurance, down a long mental list. Bozzuto has been in the insuring cannabis business for years, so she knows …

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People Moves: Woodruff Sawyer Adds Schmidt in Washington; Pie Adds Three

Woodruff Sawyer Names Schmidt Producer for Pacific Northwest Region Woodruff Sawyer announced Tim Schmidt as the new vice president, producer, for the Seattle, Washington, office. Before joining Woodruff Sawyer, Schmidt served seven years at Parker, Smith and Feek, where he …

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Australian Corporate Watchdog Investigates Firms for ‘Greenwashing’

Australia’s corporate watchdog is investigating several companies and financial institutions for “greenwashing,” or exaggerated claims regarding environment-friendly investment and products, a senior official said on Tuesday. The Australian Securities and Investment Commission (ASIC) has been increasing its oversight of climate-related …

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Rochester Diocese $55M Sex Abuse Settlement Does Not Include Insurance Amount

The Roman Catholic Diocese of Rochester will pay $55 million to survivors of sexual abuse committed by clergy members under a settlement announced by Rochester Bishop Salvatore Matano last week. The $55 million from the upstate New York diocese, its …

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Grounded Oil Supertanker Could Take Month to Free: Indonesian Navy

Indonesian authorities said on Monday it could take up to a month to free a crude oil tanker stuck in its waters, while the United States slapped sanctions on the vessel for alleged links to Hezbollah and a branch of …

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Insuring Cannabis Summit: 2023 Bringing Lawsuits, Higher Property Rates, More Products

An increase in new markets, and better brand recognition and distribution from existing markets, has led to more competition in the insuring cannabis space. That’s a good for the insurance consumer, and that trend seemed to please a group of …

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Massachusetts AG Finds More Drug Overcharges in Workers’ Compensation

Pharmacy benefits manager Express Scripts, Inc. has agreed to pay $3.2 million after allegedly failing to follow prescription pricing procedures intended to keep costs down and prevent overcharges in the state’s workers’ compensation insurance system, according to Massachusetts Attorney General …

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Cause of Sickness Affecting 48 at Pennsylvania Charter School Still Unknown

Authorities say they still don’t know what caused several dozen children and adults to fall ill at an eastern Pennsylvania school last week, prompting an evacuation. Chief Scott Van Why of the Hanover Township Volunteer Fire Department told The (Allentown) …

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Insuring Cannabis Summit: Carriers Seeing Evolution of the Space

Michael Hall was an early insurance carrier entrant into the insuring cannabis space. Yet, even as it has grown and his competition increases, he doesn’t seem to worry about losing business to competitors or the potential of having to operate …

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Inflation, Debt Crisis, Cost of Living Pose Top Business Risks in G20 Nations: Survey

Runaway inflation, an unfolding debt crisis and cost-of-living problems pose the biggest threats to doing business for G20 countries in the next two years, data from the World Economic Forum showed on Monday. Inflation has surged to levels not seen …

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Online Startup Waada Buys Rival to Become Pakistan’s Largest Insurtech

Pakistani online insurance startup Waada acquired a local rival to create the South Asian nation’s largest player in the field, seeking to benefit from growth in the burgeoning market. The Karachi-based company took over MicroEnsure Pakistan, a unit of MIC …

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Ruling Exposes Gov’t to $1.6B In Damages Because of Hurricane Harvey Flooding

A federal court in late October found the US government liable for $455,000 in damages to six claimants whose homes were flooded by water backed up behind two dams near Houston during Hurricane Harvey — but that’s just for starters. …

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Deadly Tornadoes Hit Texas and Oklahoma, Flatten Buildings

Residents in southeastern Oklahoma and northeastern Texas began assessing weather damage Saturday, working to recover and thankful to have survived after a storm stretching from Dallas to northwest Arkansas spawned tornadoes and produced flash flooding, killing at least one, injuring …

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NBA’s Spurs Sued by Ex-Team Psychologist for Sexual Misconduct

Police have begun investigating allegations that former San Antonio Spurs guard Joshua Primo exposed himself on multiple occasions to a former team therapist during counseling sessions. Dr. Hillary Cauthen filed a lawsuit against the Spurs and Primo, claiming the 19-year-old …

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Oklahoma Work Comp Rates to Decrease 8.2% in 2023

Oklahoma Insurance Commissioner Glen Mulready announced that businesses should see another rate decrease in workers’ compensation insurance beginning on January 1, 2023. The Oklahoma Insurance Department has approved an annual filing with an 8.2 percent decrease in workers’ compensation insurance …

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Twitter Sued for Mass Layoffs by Musk Without Enough Notice

Twitter Inc. was sued over Elon Musk’s plan to eliminate about 3,700 jobs at the social-media platform, which workers say the company is doing without enough notice in violation of federal and California law. A class-action lawsuit was filed Thursday …

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Hurricane Ian Wrecked Man-Made Reefs, Brings Algae Bloom to Florida

Hurricane Ian not only ravaged southwest Florida on land but was destructive underwater as well. It destroyed man-made reefs and brought along red tide, the harmful algae blooms that kill fish and birds, according to marine researchers who returned last …

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Judge in New York Fraud Trial Orders Independent Monitoring of Trump Organization

A New York judge on Thursday ordered that an independent watchdog be appointed to oversee the Trump Organization before a civil fraud case by the state’s attorney general against Donald Trump’s company goes to trial. The decision by Justice Arthur …

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People Moves: Dale Enters Marine Re With 2 MS Amlin Hires; Chubb Taps AGCS’ Turberville as Head of Hull, Global Mkts.; Argenta Names Blackwell Head of Property

This edition of International People Moves details appointments at Dale Underwriting Partners, Chubb and Argenta. A summary of these new hires follows here. Dale Underwriting Offers Marine Reinsurance With 2 Hires From MS Amlin Dale Underwriting Partners (DUP), the trading …

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Gallagher Buys Irish Broker Doyle Mahon, Rebrands Innovu From Recent Acquisition

Gallagher announced it has acquired Doyle Mahon Insurances, bolstering its presence in Ireland and demonstrating its commitment to expand its customer and employee base in the country. This follows Gallagher’s acquisition of Innovu in June this year, which it has …

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Progressive Easing Up on Rate Hikes; Flo Coming Back to a State Near You

Progressive’s Flo won’t reappear on TV screens in every state, but the insurer she pitches for is comfortable pursuing business growth, company leaders said yesterday. That means potentially using more advertising to lure auto insurance shoppers who are looking to …

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Technology Update: Canopius to Launch Tech and Data Hub in UK

Canopius Group, the London-based global specialty re/insurer, announced the launch of the “Canopius Tech & Data Hub” in Manchester, UK. The Hub, which will begin operating early next year, will ensure that Canopius is developing the best possible solutions within …

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Insuring Cannabis Summit: Industry Deserves Lower Rates and More Capacity

Improved and more sophisticated risk management in the cannabis industry warrant reduced insurance costs and more capacity, says the head of risk management at one of the cannabis industry’s best-know publicly traded companies. Karl Long is senior director of risk …

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Everest Unveils Refreshed Brand, Reflecting Commitment to ‘Underwrite Opportunity’

Everest Re Group Ltd., the Bermuda-based re/insurer, has unveiled a refreshed brand, including a new logo and visual identity reflecting its positioning and commitment to “underwrite opportunity” for colleagues, customers, shareholders, and communities worldwide. “There has never been a more …

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Lisa Weakens to Tropical Storm After Leaving Belize’s Largest City in Darkness

Lisa weakened into a tropical storm as it moved across Belize Wednesday, leaving much of the country’s largest city in the dark, although there were no reports of deaths or major damage so far in the Caribbean nation famed for …

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Allianz Global Investors Aims to Raise $1B for Fund Focusing on Climate Resilience

Allianz Global Investors on Wednesday said it is looking to raise $1 billion for its third blended finance debt fund, a mix of concessional and institutional capital seen as a crucial route to scaling up private investment in emerging economies. …

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People Moves: Newfront in California Adds Kaplan; Woodruff Sawyer Names Dorsey Vice President

Newfront, the tech-driven insurance brokerage based in San Francisco, announced that former Microsoft leader Greg Kaplan, CFA, will serve as senior vice president over its award-winning retirement services team. Kaplan joins Newfront from Specialized Bicycle Components, an innovative bicycle manufacturer, …

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Road Accidents Jump 22% During Week After Clocks Go Back

Claims for road accidents in the UK jumped by over a fifth (22%) in the week after the clocks went back in 2021, according to analysis of internal data by Tesco Bank Motor Insurance. The findings are based on a …

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Initial Insured Loss for Typhoon Nanmadol Estimated ¥114B (US$768M)

Initial insurance industry losses from Typhoon No. 14, aka Nanmadol, which hit Japan in September 2022, are an estimated 114 billion Japanese yen (US$768 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. Based on …

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Jensten Group Completes Acquisition of UK Broker J Bennett & Son

The Jensten Group, the London-based independent insurance broking group, has completed the acquisiton of J Bennett & Son Insurance Brokers and its subsidiary, Mathews Comfort & Co., following final regulatory approval. Financial details of the transaction, which was first announced …

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Tropical Storm Lisa on Track to Strike Belize as 12th Atlantic Storm of 2022

Tropical Storm Lisa has spun up in the Caribbean Sea south of Jamaica, on track to strike Belize late Wednesday as the 12th storm of this year’s Atlantic hurricane season. Lisa’s top winds have reached 40 miles (64 kilometers) per …

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Carlyle Aviation Sues Insurers Over Seized Planes Leased to Russian Airlines

Carlyle Aviation Partners said it sued a group of insurance companies and re-insurers claiming they failed to pay for losses stemming from the seizure of planes leased to Russian airlines following the invasion of Ukraine. Carlyle Aviation leased 23 planes …

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Wells Fargo Says SEC Is Examining its Hiring Practices

Wells Fargo & Co said on Monday that the U.S. Securities and Exchange Commission has begun investigating its hiring practices, after the Department of Justice had opened a related probe. In its quarterly report filed with the SEC, the fourth-largest …

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