After a federal judge temporarily halted a Biden administration mandate that healthcare workers get the shots, some of the largest U.S. hospital systems have dropped Covid-19 vaccine mandates for staff. The mandates are being dropped by hospital operators such as HCA Healthcare Inc. and Tenet Healthcare Corp., as well as nonprofits AdventHealth and the Cleveland… Continue reading In Effort to Ease Labor Shortages, Some Hospitals Drop COVID Vaccine Mandate for Workers
Author: Farkas Laura
AM Best Sees “Manageable” Tornado Losses
Although AM Best expects insurance companies to be able to absorb the losses from the recent and deadly U.S. tornado outbreak, supply chain challenges and inflationary pressures may exacerbate insurance losses. AM Best’s initial viewpoints regarding the tornado outbreak across central and southern US states, which as detailed in its Best’s Commentary, “Tornado Outbreak Adds… Continue reading AM Best Sees “Manageable” Tornado Losses
Insured Losses from Tornado Outbreak Estimated at $3 Billion: Karen Clark & Co
According to Karen Clark & Company (KCC), the insurance industry loss from the recent severe convective storm (SCS) outbreak in the United States will be around $3 billion. The SCS outbreak, which brought damaging winds and hail, occurred between December 9th and December 12th, and tornado activity was reported in at least six US states,… Continue reading Insured Losses from Tornado Outbreak Estimated at $3 Billion: Karen Clark & Co
Global Insured Catastrophe Losses Rise to $112 Billion in 2021: Swiss Re
According to Swiss Re Institute’s preliminary sigma estimates, extreme weather events in 2021, including a deep winter freeze, floods, severe thunderstorms, heatwaves, and a major hurricane, resulted in annual insured losses from natural catastrophes estimated at $105 billion, the fourth highest since 1970. While Hurricane Ida was the most expensive natural disaster in 2021, winter… Continue reading Global Insured Catastrophe Losses Rise to $112 Billion in 2021: Swiss Re
Swiss Re Says Third-Party Litigation Funding Drives Social Inflation, Should Be Regulated
Swiss Re in a recent report warned that third-party litigation finance (TPLF) is a major contributor to the trend of social inflation in the United States, which is affecting the price and availability of many insurance policies. According to Swiss Re, the United States is the epicenter of the world’s TPLF industry, in which investors… Continue reading Swiss Re Says Third-Party Litigation Funding Drives Social Inflation, Should Be Regulated
ReSource Pro Secures New Investment Partner in Kelso & Company
Kelso & Company, a North American-focused middle market private equity firm based in New York, has completed an investment in ReSource Pro, taking a majority interest in the company. ReSource Pro is a market leader in business process solutions for the P&C insurance industry. The partnership between Kelso and ReSource Pro will enable the company… Continue reading ReSource Pro Secures New Investment Partner in Kelso & Company
Amazon Employees Speak Out Against Controversial Phone Ban in Aftermath of Tornado Deaths
After devastating tornadoes ripped through the Midwest on Friday, destroying an Illinois warehouse and killing at least six employees, Amazon employees are speaking out about the reintroduction of a contentious mobile phone ban. Though the e-commerce giant had previously relaxed its strict rules prohibiting phones on the warehouse floor during the pandemic, Bloomberg reported that… Continue reading Amazon Employees Speak Out Against Controversial Phone Ban in Aftermath of Tornado Deaths
New SEC Head Says Tougher Punishment Is Coming
The Securities and Exchange Commission (SEC) frequently chooses its top cop from among Wall Street’s best defense lawyers. Its newest had not worked on a securities case in nearly six years before taking the job in July. Gurbir Grewal became the SEC’s enforcement program director after serving as New Jersey’s attorney general for more than… Continue reading New SEC Head Says Tougher Punishment Is Coming
Ryan Specialty Acquires Keystone Risk Partners
Ryan Specialty Group, a leading international specialty insurance firm, has signed a definitive agreement to acquire certain assets of Keystone Risk Partners, LLC (“Keystone”) based in Media, PA. Commenting on this acquisition, Patrick G. Ryan, Founder, Chairman and CEO of Ryan Specialty, said, “Keystone brings new talent to Ryan Specialty allowing us to expand… Continue reading Ryan Specialty Acquires Keystone Risk Partners
Arthur J. Gallagher Acquires Arkansas-Based Insurance Agency
Arthur J. Gallagher & Co. acquired Little Rock, Ark.-based The Robbi Davis Agency Inc. for undisclosed financial terms. The acquired company is a full-service insurance agency specializing in employee benefits, Medicare supplement and drug plans and individual health insurance. Robbi Davis and her team will continue to operate from the company’s current location under the… Continue reading Arthur J. Gallagher Acquires Arkansas-Based Insurance Agency