Amazon workers on New York’s Staten Island just made history, becoming the first group to vote in favor of unionizing at a U.S. facility operated by the country’s largest e-commerce company. After a hard-fought battle, the result is a major defeat for Amazon, which has used all of its might to keep organized labor off… Continue reading Amazon Workers Just Voted to Join a Union
Author: Farkas Laura
Climate Change Could Cost U.S. Budget $2 Trillion Annually by End Century
Flood, fire, and drought fueled by climate change could take a massive bite out of the U.S. federal budget per year by the end of the century, the White House said in its first ever such assessment on Sunday. The Office of Management and Budget assessment, tasked by President Joe Biden last May, found the… Continue reading Climate Change Could Cost U.S. Budget $2 Trillion Annually by End Century
Logistics Giants Hedge Their Bets in Uncertain U.S. Self-Driving Truck Race
U.S. self-driving truck companies have a golden opportunity in the form of a nationwide driver shortage, but their robot drivers still are not ready and neither are their biggest potential customers. The uncertainties surrounding autonomous trucking come at a critical time for the U.S. trucking industry, which faces a record shortage of 80,000 drivers as… Continue reading Logistics Giants Hedge Their Bets in Uncertain U.S. Self-Driving Truck Race
Inflation Is A Key Issue for April 1 Renewals: Gallagher Re
During an “undramatic” and “balanced” April 1st, 2022, reinsurance renewals season, there was widespread discussion about inflation as reinsurers were keen to understand its impact on cedants’ portfolios, reports Gallagher Re. Here are highlights of the report: Orderly renewal – Capacity was largely sufficient in most classes but some constraints in certain specialty lines and… Continue reading Inflation Is A Key Issue for April 1 Renewals: Gallagher Re
Global Insurers Plan to Ramp Up Private Equity Investments
Insurers want to put more money into private equity this year as they contend with rising inflation and its effects on monetary policy, a survey by Goldman Sachs Asset Management showed on Monday. More than 40% of insurers plan to increase their investments in private equity in the next 12 months to boost returns, according… Continue reading Global Insurers Plan to Ramp Up Private Equity Investments
Alliant Insurance Services Raises More than $210,000 to Support Humanitarian Efforts in Ukraine
Alliant Insurance Services and its employees across the U.S. joined forces to raise more than $210,000 to support humanitarian efforts in Ukraine. This fundraising effort was a direct response to the current crisis occurring in Ukraine, and donations will be used to provide life-giving necessities like food, water, shelter, and first aid to support Ukrainian… Continue reading Alliant Insurance Services Raises More than $210,000 to Support Humanitarian Efforts in Ukraine
S&P Global Says Russia-Ukraine Insurance Losses Could Reach $35 Billion
S&P Global sees losses in the specialty insurance market of $16-35 billion from the Russia-Ukraine conflict, the ratings agency said on Thursday. This includes possible aviation insurance losses totaling $6-15 billion, S&P said in a report. Other specialty lines likely to be affected by the conflict include cyber, political risk and marine war insurance, S&P… Continue reading S&P Global Says Russia-Ukraine Insurance Losses Could Reach $35 Billion
Ukraine Guarantees Insurance Payouts for Vessels Damaged at Its Danube Ports
Ukraine, a major producer of grain, oilseeds and steel products, will guarantee insurance payments to cargo vessels damaged in hostilities on its stretch of the Danube, according to the government decision published on Friday. Ukraine exports almost all its commodities through Black Sea ports now blocked due to the Russian invasion. The Danube, the second-longest… Continue reading Ukraine Guarantees Insurance Payouts for Vessels Damaged at Its Danube Ports
Car Sales Seen Sputtering as Supply-Chain Woes Hurt Production
Automobile manufacturers are expected to report lower-than-expected quarterly vehicle sales as chip shortages and supply-chain issues continue to limit vehicle production. According to Cox Automotive, new vehicle sales are expected to fall 16% year on year in the first quarter, representing the second-worst quarterly total in a decade, trailing only the pandemic-affected second quarter of… Continue reading Car Sales Seen Sputtering as Supply-Chain Woes Hurt Production
AXA XL’s Environmental Insurance Business Rolls Out Tailored Ecosystem in North America
To help clients adopt new technology solutions to manage business risks, AXA XL’s North America Environmental insurance business has rolled out a tailored Environmental Ecosystem. According to Mary Ann Susavidge, Chief Underwriting Officer, Environmental, “For the last 35 years, we’ve taken a holistic approach helping our clients manage environmental liabilities through risk transfer with pollution… Continue reading AXA XL’s Environmental Insurance Business Rolls Out Tailored Ecosystem in North America