The U.S. Department of Labor has filed an administrative complaint against ABM Janitorial Services after a compliance evaluation by the department’s Office of Federal Contract Compliance Programs alleged systematic racial discrimination against Black and a smaller number of white applicants …
Brit Ltd., the London-based specialty insurer and reinsurer, announced the creation and successful proof-of-concept launch of a proprietary machine-learning algorithm, designed to accelerate the identification of post-catastrophe property damage, based on the use of ultra-high-resolution imagery. This proof of concept …
Insurtech startup bolttech announced the extension of its recently announced US$180 million Series A funding round led by Activant Capital Group, bringing the series total to US$210 million. The funding round adds two new strategic investors: Singapore-based global investor EDBI …
A court-appointed receiver has recouped more than $1 billion for victims of Texas financier Allen Stanford’s Ponzi scheme, the largest by dollar amount other than Bernard Madoff’s fraud, the receiver’s lawyers said on Monday. The threshold was crossed when Ralph …
Global reinsurer MS Amlin AG announced the appointment of Robert Wiest as chief executive officer. Wiest will take up the role on Jan. 3, 2022 and will be based in Zurich, Switzerland. He replaces Christopher Beazley who stepped down in …
Many cryptocurrency projects are flouting investor-protection rules and deserve more scrutiny, a group of investor advocates told Securities and Exchange Commission Chair Gary Gensler in a Monday letter. The letter, signed by the Americans for Financial Reform Education Fund, the …
After a furious run of ransomware attacks in the first half of the year, President Joe Biden in July warned his Russian counterpart, Vladimir Putin, that Russia-based hacking groups should steer clear of 16 critical sectors of the U.S. economy. …
GI Partners, a private investment firm, announced the recapitalization of Patriot Growth Insurance Services LLC, a national insurance agency. The move comes in partnership with Patriot Founder and CEO Matt Gardner. Summit Partners, which invested in Patriot in 2019, and …
The National Transportation Safety Board has opened an investigation into a crash of a Tesla Inc. vehicle, the second probe by the agency of a fatal accident involving the electric carmaker’s models in less than six months. Two people were …
U.S.-based specialty insurance corporation H.W. Kaufman Group announced its expansion into South America through the acquisition of Prospect Brokers Chile, based in Santiago, Chile. Financial details of the deal were not disclosed. As a result of the acquisition, Prospect Brokers …