A Republican congressman is asking the Treasury Department to explain its handling of a US insurance company that covered dozens of tanker ships suspected of carrying sanctioned Iranian oil.
Author: Annie George
Marsh McLennan Agency Expects Stable Commercial Property Reinsurance Market in 2024
Marsh McLennan Agency (MMA), part of the global insurance and reinsurance broker, has released its 2024 Commercial Property Insurance Trends report, highlighting a more balanced reinsurance market this year compared to the harsh conditions of 2023.
Apple to Pay $490M to Settle Allegations Over Misleading Investors
Apple has agreed to pay $490 million to settle a class-action lawsuit alleging CEO Tim Cook misled investors about a steep downturn in iPhone’s sales in China that culminated in a jarring revision to the company’s revenue forecast.
Inside the New Agency Commission System of Buying and Selling a Home
The National Association of Realtors’ landmark settlement is upending the home buyers’ agent commission system. Companies already experimenting with different structures offer insight into what this new world of home sales might look like.
Allianz Launches In-House Financial Lines Claims Team
Allianz said it launched a new dedicated in-house financial lines claims team covering mid-corporate and small and midsize enterprises businesses.
Realtors Reach Settlement that Will Change How Americans Buy and Sell Homes
The National Association of Realtors has reached a nationwide settlement of claims that the industry conspired to keep agent commissions high, it said Friday, a deal set to usher in the biggest changes to how Americans buy and sell homes in decades.
State Farm Announces New Leadership
State Farm President Jon Farney has been selected as the company’s next Chief Executive Officer by the State Farm Mutual Board of Directors. Farney will formally begin his role on June 1.
Commissioner Lara Announces Next Phase of Sustainable Insurance Strategy to Safeguard Californians’ Access to Insurance
Insurance Commissioner Ricardo Lara released his catastrophe modeling regulation that will help restore options for all Californians, the latest phase of his Sustainable Insurance Strategy to safeguard the integrity of the state’s insurance market.
Bayer Weighs ‘Texas Two-Step’ Bankruptcy Filing Over Roundup
Bayer AG is weighing whether to use a controversial legal maneuver known as the Texas Two-Step bankruptcy to try to resolve tens of thousands of US lawsuits claiming its Roundup weedkiller causes cancer, according to people familiar with its thinking.
Why Are Data Breaches Still Rising Amid Increased Cybersecurity?
Organizations are spending more money than ever on cybersecurity—an estimated $188 billion globally in 2023, a figure expected to grow to almost $215 billion in 2024—yet hackers always seem to stay a step ahead.