Retailers and law enforcement agencies across the country are beefing up security to combat a surge in thefts by criminal groups during the busy holiday shopping season. Some of the most heinous crimes, dubbed “flash mob” robberies, have occurred in recent weeks. Hundreds of people stole goods from three Best Buy stores in suburban Minneapolis… Continue reading Retailers Lock Up More Products to Combat Flash Mob Robberies
Author: Farkas Laura
Two Louisiana Insurers Collapse in the Aftermath of Hurricane Ida
Insurance companies in Louisiana will be charged at least $100 million to pay the claims of two failed property insurers that failed in the aftermath of Hurricane Ida. However, the cost of dealing with insolvent insurers will eventually fall on the state after companies recoup the funds through a series of tax credits. The board… Continue reading Two Louisiana Insurers Collapse in the Aftermath of Hurricane Ida
Facebook Whistleblower Urges Congress to Act Quickly on Overhauling Tech Liability Shield Laws
Former Facebook employee and whistleblower Frances Haugen pleaded with lawmakers on Wednesday to avoid the usual congressional gridlock as they consider proposals to curb abuses on social media platforms by limiting the companies’ free-speech protections from legal liability. “Facebook wants you to get caught up in a long, drawn out debate over the minutiae of… Continue reading Facebook Whistleblower Urges Congress to Act Quickly on Overhauling Tech Liability Shield Laws
USDA Strengthening Crop Insurance for Hemp Producers
The United States Department of Agriculture (USDA) is improving crop insurance for hemp in response to producer feedback. The USDA’s Risk Management Agency (RMA) is strengthening the hemp crop insurance policy by allowing producers to work more freely with processors and by improving consistency with the most recent USDA hemp regulation. “We are working with… Continue reading USDA Strengthening Crop Insurance for Hemp Producers
Tinder Owner Match Group to Pay Founders $441MM in Valuation Lawsuit Settlement
According to documents released Wednesday, the company that owns Tinder will pay $441 million to the popular dating app’s founders to settle a dispute over the valuation of stock options. The lawsuit, filed in New York in 2018, claimed that Tinder owner Match Group and its then parent company InterActiveCorp conspired to drastically reduce the… Continue reading Tinder Owner Match Group to Pay Founders $441MM in Valuation Lawsuit Settlement
SAN Group Welcomes Toni DuBois Agency, LLC
Satellite Agency Network (SAN) Group, Inc., the largest alliance of independent insurance agencies in the Northeast, is pleased to announce that Toni DuBois Agency, LLC of Buffalo, NY has joined the network. Founded in 2014, the Toni DuBois Agency offers a full range of insurance services including auto, home, renters, business owners, life, health, and… Continue reading SAN Group Welcomes Toni DuBois Agency, LLC
Biden’s Plan to Fight Omicron Includes Insurer-Funded At-Home COVID Tests
President Joe Biden laid out his strategy for combating the Omicron and Delta coronavirus variants this winter on Thursday, including free and insurer-funded at-home COVID-19 testing and new international travel requirements. According to administration officials, the US government will require private health insurers to reimburse their 150 million customers for the cost of over-the-counter, at-home… Continue reading Biden’s Plan to Fight Omicron Includes Insurer-Funded At-Home COVID Tests
States Accuse Purdue’s Sackler Family Members of Abusing Bankruptcy Process
A federal judge should reject a sweeping settlement to thousands of lawsuits against OxyContin maker Purdue Pharma, a group of states argued at a hearing Tuesday, arguing that the protections it provides to members of the Sackler family, who own the company, are unconstitutional. States have credible claims that family members stole more than $10… Continue reading States Accuse Purdue’s Sackler Family Members of Abusing Bankruptcy Process
Pandemic Not to Blame for Current MPL Market Challenges: RPS
From rising mortality rates and staffing shortages to postponement of routine medical care and screenings, the COVID-19 pandemic has negatively impacted every aspect of the healthcare market. While it would be easy to point to COVID-19 as the primary cause of the rate hikes and coverage challenges facing the medical professional liability (MPL) market, that… Continue reading Pandemic Not to Blame for Current MPL Market Challenges: RPS
AJG Completes Acquisition of Willis Towers Watson Reinsurance Brokerage Operations
Arthur J. Gallagher & Co. on Wednesday announced that it has completed the acquisition of substantially all of the treaty reinsurance brokerage operations from Willis Towers Watson plc. Together with Gallagher’s existing reinsurance operations, the combined businesses will trade as Gallagher Re from more than 70 offices across 31 countries and incorporate c2400 colleagues. This… Continue reading AJG Completes Acquisition of Willis Towers Watson Reinsurance Brokerage Operations