According to a recent survey conducted by the legal and business consulting firm DWF Group, insurance firms have felt increased pressure on environmental, social, and governance (ESG) issues from regulators, employees, and clients in the last two years. In the report, Claire Bowler, global head of DWF’s insurance sector, stated, “There has been a huge… Continue reading 65% of Insurance Firms See Significant Impact from Poor ESG Performance: Survey
Author: Farkas Laura
Fuel Costs Posing Challenges for Small Trucking Operators
The rapid rise in diesel fuel prices this month is putting a strain on freight transportation companies and their customers, and small trucking operators are struggling to keep up with the rising costs. Independent operators and smaller fleets are the most vulnerable to rising diesel prices because they have less negotiating power with shippers and… Continue reading Fuel Costs Posing Challenges for Small Trucking Operators
Lloyd’s of London CEO in Hospital After Bike Accident
Lloyd’s of London Chief Executive John Neal is in hospital following a bike accident on March 26, but is expected to make a full recovery, the commercial insurance market said on Monday. Lloyd’s will be led in Neal’s absence by Burkhard Keese, chief operating officer and chief financial officer, and Patrick Tiernan, chief of markets,… Continue reading Lloyd’s of London CEO in Hospital After Bike Accident
U.S. Boosts Fines for Automakers Failing to Meet Fuel Economy Rules in Tesla Win
The National Highway Traffic Safety Administration (NHTSA) on Sunday reinstated a significant increase in penalties for automakers whose vehicles fail to meet fuel efficiency standards for model years 2019 and beyond. The decision was a win for Tesla that could cost other automakers hundreds of millions of dollars, if not billions of dollars. According to… Continue reading U.S. Boosts Fines for Automakers Failing to Meet Fuel Economy Rules in Tesla Win
Best’s Special Report: Global Nonlife Insurers Leverage Innovation for Financial Strength
Five-year benchmarking analysis of AM Best-rated nonlife companies’ innovation assessments indicates that COVID-19 widened the innovation divide, with a clear link to better top-line growth for insurers with more-developed innovation initiatives. AM Best formally integrated its criteria procedure, “Scoring and Assessing Innovation,” in March 2020, but for the purposes of this analysis, considered operating performance… Continue reading Best’s Special Report: Global Nonlife Insurers Leverage Innovation for Financial Strength
Insurer AIG Says BlackRock Will Manage Part of Life and Retirement Unit’s Assets
Insurer American International Group Inc (AIG) said BlackRock Inc, the world’s largest asset manager, will manage $60 billion of its global investment portfolio and up to $90 billion of assets on behalf of its life and retirement business. BlackRock will manage certain liquid fixed income and private placement assets according to the deal, which comes… Continue reading Insurer AIG Says BlackRock Will Manage Part of Life and Retirement Unit’s Assets
Judge Likely to Approve $18 Million Activision Blizzard Sexual Harassment Suit Settlement
Activision Blizzard is one step closer to resolving one of the numerous sexual harassment and workplace misconduct lawsuits it is facing. According to a California court filing published Tuesday, U.S. District Judge Dale Fischer is “prepared to approve” Activision Blizzard’s $18 million settlement with the Equal Employment Opportunity Commission (EEOC). According to the filing, “the… Continue reading Judge Likely to Approve $18 Million Activision Blizzard Sexual Harassment Suit Settlement
U.S., EU Reach Preliminary Agreement on Data Privacy
The United States and the European Union reached a preliminary agreement to allow data about Europeans to be stored on American soil, averting a growing threat to the trans-Atlantic operations of thousands of companies. The agreement, announced Friday by President Biden and European Commission President Ursula von der Leyen, has the potential to resolve one… Continue reading U.S., EU Reach Preliminary Agreement on Data Privacy
About 8% of Restaurant Chain’s Workers Missed Work in January due to Surge in Omnicron Cases
The parent company of Olive Garden reduced its fiscal 2022 financial guidance and raised its inflation expectations, citing the spread of the Omicron variant in January as further disrupting supply chains and driving up costs. Darden Restaurants Inc., which also owns LongHorn Steakhouse, reported Thursday that sales increased by more than 41% to $2.45 billion… Continue reading About 8% of Restaurant Chain’s Workers Missed Work in January due to Surge in Omnicron Cases
Verisk Estimates Insured Industry Losses at $4B for Japan Earthquake
Analysts at Verisk Extreme Event Solutions estimate insured losses to properties from the March 16 M7.3 earthquake that struck offshore the island of Honshu, Japan, to be between JPY 240 billion (~USD 2 billion) and JPY 490 billion (~USD 4 billion). Of that, between JPY 50 billion (~USD 400 million) and JPY 100 billion (~USD… Continue reading Verisk Estimates Insured Industry Losses at $4B for Japan Earthquake