The United States House of Representatives has passed legislation prohibiting contracts that require people to settle sexual assault or harassment cases through arbitration rather than in court, a process that often benefits employers and prevents misconduct allegations from becoming public. The bill, which was passed by a 335-97 vote in the House, reflects a rare… Continue reading Congress Moves to End Forced Arbitration for Sex Misconduct
Author: Farkas Laura
Zurich Insurance Sees Highest Profit Since Financial Crisis
Zurich Insurance expects continued revenue and profit growth over the next two years, according to its chief financial officer, after the Swiss insurer reported its highest annual profit since the financial crisis on Thursday. When the pandemic hit in early 2020, insurers were pessimistic about the outlook, but they have remained profitable despite excluding COVID-19… Continue reading Zurich Insurance Sees Highest Profit Since Financial Crisis
RiskSpan and Verisk Collaborate to Offer Climate Risk Analytics for Mortgage Finance
Mortgage analytics firm RiskSpan has collaborated with Verisk to create a first-of-its-kind solution for measuring and mitigating the risks of climate change to the housing finance industry. The collaboration unites RiskSpan’s Edge Platform for mortgage analytics with Verisk Extreme Event Solutions’ proven set of models — relied on by leading insurance, re-insurance, corporate and government… Continue reading RiskSpan and Verisk Collaborate to Offer Climate Risk Analytics for Mortgage Finance
UCLA to Pay $243 Million to Settle Sexual Abuse Claims
The University of California has agreed to pay $243 million to settle the claims of 203 women who accused a gynecologist at the Los Angeles campus of sexual misconduct. This is the latest in a series of nine-figure settlements announced by universities in recent years in response to sexual abuse allegations. The payout in the… Continue reading UCLA to Pay $243 Million to Settle Sexual Abuse Claims
Top Ohio Court Skeptical of Insurance Coverage for COVID Business Losses
On Tuesday, justices on Ohio’s highest court expressed skepticism that commercial property insurance policies cover any losses businesses suffered as a result of the COVID-19 pandemic. In the third such case to reach a state’s highest court, the Ohio Supreme Court appeared poised to join a majority of mostly federal courts nationwide in rejecting hundreds… Continue reading Top Ohio Court Skeptical of Insurance Coverage for COVID Business Losses
Commercial Auto Claims Costs Fueled by Attorney Involvement: Study
According to a study conducted by the American Property Casualty Insurance Association (APCIA) and Milliman, attorney involvement in commercial auto insurance claims has increased in recent years, as have costs and resolution times. The report discovered a 21.3 percent increase in total losses between 2015 and 2019, bringing the average cost to $149,494 after analyzing… Continue reading Commercial Auto Claims Costs Fueled by Attorney Involvement: Study
APCIA Warns PIP Repeal Legislation Could Have Substantial Financial Impact on Florida Drivers
The American Property Casualty Insurance Association (APCIA) today issued the following statement, attributed to its assistant vice president of state government relations Logan McFaddin, regarding the House Civil Justice and Property Rights Subcommittee’s passage of House Bill 1525 relating to Motor Vehicle Insurance. “APCIA is disappointed the bill to reform Florida’s no-fault auto insurance system… Continue reading APCIA Warns PIP Repeal Legislation Could Have Substantial Financial Impact on Florida Drivers
COVID-19 Protests Threaten Border Trade Between Canada and U.S.
Canadian lawmakers expressed growing concern Tuesday about the economic consequences of disruptive demonstrations after truckers protesting vaccine mandates and other COVID-19 restrictions partially blocked the busiest border crossing between the United States and Canada. The blockade at the Ambassador Bridge between Detroit and Windsor, Ontario, prevented traffic from entering Canada while some traffic from the… Continue reading COVID-19 Protests Threaten Border Trade Between Canada and U.S.
SageSure Secures $375 Million Senior Credit Facility
SageSure, a leading managing general underwriter and insurance technology innovator, has secured a $375 million senior credit facility from funds managed by the U.S. Direct Lending and Alternative Credit strategies of Ares Management Corporation. Proceeds of the transaction will be used to refinance SageSure’s existing bank facility and to support strategic growth initiatives. “SageSure continues… Continue reading SageSure Secures $375 Million Senior Credit Facility
New Research from the Hartford Finds U.S. Workers Are Delaying Routine Health Care
New research from The Hartford, a leading provider of group disability insurance and absence management, found that 43% of U.S. workers have delayed routine health care appointments since the COVID-19 pandemic began. The delay in care comes as many also report declines in their mental health (42%), social well-being (41%), financial security (32%) and physical… Continue reading New Research from the Hartford Finds U.S. Workers Are Delaying Routine Health Care