This month, residents of a West Palm Beach waterside condominium received an email alert about Champlain Towers South. Insurance on the 12-story building across from the Lake Worth Lagoon increased by 82%, necessitating a special meeting to increase the budget and dues. It was a setback for the association, which had planned for a 25%… Continue reading Surfside Collapse Has Condo Insurance Rates Skyrocketing in Florida
Author: Farkas Laura
State, Feds Settle with McDonald’s Franchisee for $1.6M in Sexual Harassment Case
The state attorney general’s office announced Friday that a Vermont corporation that operates as a McDonald’s restaurant franchisee has been ordered to pay $1.6 million in damages and penalties after authorities said it failed to protect young workers from harm and sexual harassment. According to the state, the settlement reached by the state and the… Continue reading State, Feds Settle with McDonald’s Franchisee for $1.6M in Sexual Harassment Case
Have a Safe and Happy Fourth of July
All of us at ProgramBusiness.com wish you a Happy Fourth of July. Stay safe as you celebrate our Independence Day. We will be closed on Monday and will return with the Daily Newsflash Tuesday, July 5.
Health-Insurers Start Publishing Prices for Medical Care
Insurers and employers have begun publicly disclosing the prices they pay for healthcare services ranging from doctor visits to lab tests, significantly expanding a federally mandated effort to reveal the long-secret rates. The new data arrives in the form of massive, machine-readable digital files, typically in formats inaccessible to consumers, and is mostly posted on… Continue reading Health-Insurers Start Publishing Prices for Medical Care
Marsh: More D&O Insurers Willing to Offer Better Coverage to Businesses with Robust ESG Frameworks
Marsh, the world’s leading insurance broker and risk advisor, announced several enhancements to its directors and officers liability (D&O) insurance offerings today, potentially allowing more clients to benefit from superior environmental, social, and governance (ESG) frameworks. The move indicates that D&O underwriters are more willing to recognize organizations with strong ESG risk management as better… Continue reading Marsh: More D&O Insurers Willing to Offer Better Coverage to Businesses with Robust ESG Frameworks
Insurance Meltdown Leaves Homeowners without Policies and at Risk
After meteorologists predicted another active Atlantic hurricane season this year, insurance companies closed their doors in Louisiana and Florida, leaving thousands of homeowners in those storm-prone states without coverage. Storms have already taken their toll on the insurance market in Louisiana, making it a “tough place to do business,” according to Jeff Albright, president of… Continue reading Insurance Meltdown Leaves Homeowners without Policies and at Risk
July Renewals See Attachment Levels & Costs Rise: Gallagher Re
According to Gallagher Re’s 1st View report, almost all buyers of protection were able to secure their reinsurance coverage at a July 1st, 2022, renewals shaped by economic factors that helped to sustain market hardening. Following the June 1st reinsurance renewals, all eyes turned to the later mid-year renewals in July, due to a decrease… Continue reading July Renewals See Attachment Levels & Costs Rise: Gallagher Re
Cigna Completes $5.4 Billion Transaction with Chubb
Cigna Corp., a global health services company, announced today the completion of its previously announced divestiture of its life, accident, and supplemental benefits businesses in six Asia Pacific markets to Chubb in a $5.4 billion transaction. “The completion of this transaction allows us to focus our efforts even more on growing our global health portfolio,”… Continue reading Cigna Completes $5.4 Billion Transaction with Chubb
Vulnerability a Key Driver of Emerging World Climate Policy Commitments: WTW
Commitment on climate policy in the emerging world is strongest in countries most vulnerable to the impacts of global warming and in those with effective governments, but weakest in those reliant on fossil-fuel income, according to new analysis by Oxford Analytica and WTW, a leading global advisory, broking, and solutions company. Of 62 nations and… Continue reading Vulnerability a Key Driver of Emerging World Climate Policy Commitments: WTW
Stronger ESG Risk Mitigation Practices Linked to Better Shareholder Returns
Companies that develop more responsible Environmental, Social, and Governance (ESG) practices and strive to mitigate ESG risks experience fewer ESG-related controversies and generate better shareholder returns. These are the key findings of two new research studies released by Moody’s Analytics showing that ESG risk management policies and actions, and the ESG scores that measure them,… Continue reading Stronger ESG Risk Mitigation Practices Linked to Better Shareholder Returns