Monthly Archives: <span>November 2024</span>

Ohio Man Sentenced in $229K Insurance Fraud Scheme

An Ohio man was sentenced to five years in prison and ordered to pay restitution for filing 24 fraudulent claims with multiple insurance companies, totaling more than $229,000, the Ohio Department of Insurance announced. Justin Mack, a native of Buffalo, …

Kansas Commissioner Schmidt to Serve as NAIC Midwest Zone Chair

Kansas Insurance Commissioner Vicki Schmidt will be serving as the Midwest Zone Chair for the National Association of Insurance Commissioners (NAIC) in 2025. Committee assignments will be announced in January of 2025. “I look forward to leading the discussion on …

Texas Public Utility Commission Reports on CenterPoint Energy’s Beryl Response

When Hurricane Beryl swept through southeast Texas on July 8, its damaging 80-mile-per-hour winds took down thousands of trees and knocked out much of the electricity system. More than 2.6 million Texas power customers went without electricity for days in …

Walmart, World’s Biggest Retailer, Will Curb Diversity Efforts

Walmart Inc. is reversing course on diversity, equity and inclusion initiatives, joining a growing list of businesses retreating on DEI programs targeted by conservative activists. The world’s biggest retailer will no longer consider race and gender to boost diversity when …

People Moves: HUB Int’l Names Dutton President of HUB Canada West; Von Mesterhazy Appointed Managing Director of Allianz UK Specialty, as O’Keeffe Retires

This edition of International People Moves details appointments at HUB International and Allianz UK Specialty. A summary of these new hires follows here. HUB International Names Dutton President of HUB Canada West HUB International (HUB), the Chicago-based global insurance brokerage …

AI Used for Good and Bad — Like Making Trickier Malware, Says Report

While the insurance industry is quickly adopting AI technologies to improve the speed and accuracy of routine functions, analyze data and assess risk, malicious actors use the same tech to disrupt business and profit from cyberattacks. Recognizing the potential exposure …

Disney Settles Suit Over Women’s Pay for $43 Million

Walt Disney has agreed to pay $43.3 million to settle a lawsuit alleging that its female employees in California earned $150 million less than their male counterparts over an eight-year period, the plaintiffs’ lawyers said in a statement on Monday. …

EU Seeks to Streamline ESG Regulations Amid Growing Backlash

The next European Commission will urgently seek to streamline the bloc’s many environmental, social and governance rules, as it responds to complaints that excessive regulations are gutting industry competitiveness. Simplification will be at the center of the incoming commission’s work, …

Insurer Says Pollution Exclusion Sinks Coverage for Pool Chemical Injuries

A commercial general liability policy with a pollution exclusion does not protect a Virginia homeowners association from lawsuits filed by swimmers alleging they were injured by chemicals discharged into the community pool. That is the argument made by Philadelphia Indemnity …

Oak Reinsurance Gets Permission From Lloyd’s to Begin Underwriting in January

Oak Reinsurance (OAK Re), the London-based reinsurance company, announced that its Lloyd’s Syndicate 2843 has received permission to begin underwriting business incepting from Jan. 1, 2025. This follows the approval in principle that was received in September 2024. OAK Re …