U.K.’s Largest Pub Groups Take on Zurich, MS Amlin and Liberty Mutual in $1.2B COVID Trial

Mandatory closures

A London trial heard on Monday that Stonegate, Britain’s largest pubs group, which is suing Zurich Insurance and two peers for 1 billion pounds ($1.2 billion) over lockdown losses, battled the COVID-19 pandemic “day by day, venue by venue.” Stonegate’s lawyer, Ben Lynch, said the company’s 760 insured pubs, bars, and nightclubs had each faced… Continue reading U.K.’s Largest Pub Groups Take on Zurich, MS Amlin and Liberty Mutual in $1.2B COVID Trial

Usage-Based Auto Insurance Front and Center as Satisfaction Flatlines, J.D. Power Finds

telematics and auto insurance

A record number of serious collisions, skyrocketing used-car prices, and surging repair costs have put auto insurers in an unenviable position: raise rates or go out of business. It should come as no surprise that the J.D. Power 2022 U.S. Auto Insurance Study, released today, finds that customer satisfaction with auto insurance prices has declined… Continue reading Usage-Based Auto Insurance Front and Center as Satisfaction Flatlines, J.D. Power Finds

Google Settles Gender Discrimination Lawsuit for $118 Million

Google to purge billions of files

Google agreed to pay $118 million to settle a lawsuit alleging pay and promotion discrimination against women. The settlement settles a class-action lawsuit filed in San Francisco Superior Court in 2017 by three female former employees who claimed that Google, a unit of Alphabet Inc., placed them in lower job levels than similarly qualified males,… Continue reading Google Settles Gender Discrimination Lawsuit for $118 Million

Report Reveals Gaps in Net-Zero Emissions Pledges by Global Corporations

ESG Investment Rule

According to a new inventory of net-zero efforts in the public and private sectors, corporate plans to reduce greenhouse gas emissions fall short of what is required to combat climate change, with “major credibility gaps” discovered among the world’s largest companies. Approximately half of the Forbes 2000 largest corporations have yet to announce plans to… Continue reading Report Reveals Gaps in Net-Zero Emissions Pledges by Global Corporations

USG Announces Hire of Ricciardi in Philadelphia, PA

USG hire

USG Insurance Services, Inc., a national wholesaler and MGA, is pleased to announce the hire of Sergio Ricciardi, Producer/Broker: Team Lead, in the Philadelphia, PA branch. Ricciardi brings 15 years of industry experience to the USG team, most recently from Scottish American. As Producer/Broker: Team Lead at USG, Sergio will expand his industry relationships and… Continue reading USG Announces Hire of Ricciardi in Philadelphia, PA

Losses from Russian Sanctions Cost Businesses $59 Billion

Terrain crack - Ukraine/Russia

Global companies have racked up more than $59 billion in losses from their Russian operations, with more financial pain to come as sanctions hit the economy and sales and shutdowns continue, according to a review of public statements and securities filings. Almost 1,000 Western businesses have pledged to exit or cut back operations in Russia,… Continue reading Losses from Russian Sanctions Cost Businesses $59 Billion

Bitcoin Leads Crypto Fraud as FTC Confirms $1 Billion Milestone

crypto currency

According to a report released on Friday by the Federal Trade Commission, victims lost more than $1 billion in cryptocurrency scams between January 2021 and March 2022. Since the beginning of 2021, over 46,000 people have lost money due to cryptocurrency fraud, making it the leading source of payment scams. Bitcoin accounted for 70% of… Continue reading Bitcoin Leads Crypto Fraud as FTC Confirms $1 Billion Milestone

Geico Ordered to Pay Woman $5.2 Million after She Contracted STD in a Car

Geico workforce reduction

A Missouri woman was awarded $5.2 million, according to court documents, in a settlement from insurance company GEICO after contracting a sexually transmitted disease from her partner in his vehicle, which was insured by the company. This week, the Missouri Court of Appeals upheld the award. According to court documents, the woman, a Jackson County… Continue reading Geico Ordered to Pay Woman $5.2 Million after She Contracted STD in a Car

Verisk and LIMRA Partner to Combat Fraud, Financial Crimes in Life Insurance, Annuity and Retirement Markets

Private Placement Life Insurance (PPLI)

LIMRA and Verisk are collaborating to provide greater capabilities to insurers and recordkeepers to help them combat fraud and financial criminal attacks on their customers, leveraging the unique strengths of the two organizations. FraudShare, LIMRA’s most recent industry solution developed in collaboration with its members to address common industry challenges, assists leading financial services firms… Continue reading Verisk and LIMRA Partner to Combat Fraud, Financial Crimes in Life Insurance, Annuity and Retirement Markets

Insurance Ban on Tankers Could Lock in Russian Oil, Yellen Says

American Club insuring Iran oil

US Treasury Secretary Janet Yellen said a plan to prohibit European and British companies from insuring tanker shipments of Russian oil could help limit Moscow’s energy revenues as allies seek to limit revenues flowing to Moscow. The United States has already prohibited Russian oil imports, and the European Union has agreed to prohibit Russian crude… Continue reading Insurance Ban on Tankers Could Lock in Russian Oil, Yellen Says