14 06, 2024

People Moves: Krause Group Names Westervelt Vice President of Sales

By | June 14th, 2024|Uncategorized|Comments Off on People Moves: Krause Group Names Westervelt Vice President of Sales

Krause Group, headquartered in Des Moines, Iowa, named Holly Westervelt to the newly created role of vice president of sales, a part of the leadership team for Krause Group’s expanding agency division, The Krause Agency. Westervelt joins Krause Group with …

13 06, 2024

Major Defense Contractor Accused of Discriminating Against Older Workers

By | June 13th, 2024|Uncategorized|Comments Off on Major Defense Contractor Accused of Discriminating Against Older Workers

A major defense contractor was sued Tuesday over allegations that it discriminated against older workers in job ads. The lawsuit filed in federal court in Boston accuses RTX Corporation of posting ads that target younger workers at the expense of …

13 06, 2024

California Governor Wants to Curb a Labor Law That Cost Businesses $10B

By | June 13th, 2024|Uncategorized|Comments Off on California Governor Wants to Curb a Labor Law That Cost Businesses $10B

For two decades, a California law has helped workers sue the world’s biggest companies. Drivers for Uber Technologies Inc. won a $20 million settlement, Google employees secured $27 million over complaints of free-speech violations, and Walmart Inc. agreed to pay …

13 06, 2024

Insurance Broker Witness at Menendez Bribery Trial Faced Tough Cross-Examination

By | June 13th, 2024|Uncategorized|Comments Off on Insurance Broker Witness at Menendez Bribery Trial Faced Tough Cross-Examination

The prosecution’s prized turncoat witness at the bribery trial of U.S. Sen. Bob Menendez was politely combative Tuesday as defense lawyers tried to poke holes in his testimony and portray him as a habitual liar. Jose Uribe spent a third …

13 06, 2024

Liberty Mutual’s Angle on $4.7M Refund Differs Slightly from Florida Regulators’

By | June 13th, 2024|Uncategorized|Comments Off on Liberty Mutual’s Angle on $4.7M Refund Differs Slightly from Florida Regulators’

Liberty Mutual Insurance this week should complete $5.2 million in refunds, premium credits and interest payments to more than 46,000 auto insurance policyholders in Florida, the result of a market conduct examination done months after a use-and-file rate was approved, …

13 06, 2024

Survey: US Business Owners Seek More Insurance Coverage as AI, Election Risks Loom

By | June 13th, 2024|Uncategorized|Comments Off on Survey: US Business Owners Seek More Insurance Coverage as AI, Election Risks Loom

Artificial intelligence and U.S. election have emerged as significant risks to businesses this year with an overwhelming 80% of owners worried their insurance will not cover a specific loss, a survey by insurance brokerage Gallagher showed on Wednesday. Companies are …

13 06, 2024

SpaceX Sued by Engineers Fired After Accusing Elon Musk of Sexism

By | June 13th, 2024|Uncategorized|Comments Off on SpaceX Sued by Engineers Fired After Accusing Elon Musk of Sexism

Rocket maker SpaceX and its CEO Elon Musk were sued on Wednesday by eight engineers who say they were illegally fired for raising concerns about alleged sexual harassment and discrimination against women. The engineers—four women and four men—claim Musk ordered …

13 06, 2024

R&Q Warns Its Financial Stresses Could Hit Business Stability and Lead to Liquidation

By | June 13th, 2024|Uncategorized|Comments Off on R&Q Warns Its Financial Stresses Could Hit Business Stability and Lead to Liquidation

R&Q Insurance Holdings Ltd. warns it is facing growing financial difficulties, which could affect the “company’s stability as a business” and ultimately lead to liquidation. In a June 13 statement, R&Q acknowledges it has been struggling under the weight of …

13 06, 2024

US E&S Growth Slower in 2023; Berkshire, AIG Top Premium Rankings

By | June 13th, 2024|Uncategorized|Comments Off on US E&S Growth Slower in 2023; Berkshire, AIG Top Premium Rankings

An analysis by S&P Global Market Intelligence reveals that the pace of growth in the U.S. excess and surplus lines market has slowed since a peak growth rate of 32.3% recorded in 2021. In 2023, growth remained robust—and up in …

13 06, 2024

Solar Risk Assessment Shines Light on Key Industry Challenges

By | June 13th, 2024|Uncategorized|Comments Off on Solar Risk Assessment Shines Light on Key Industry Challenges

Extreme weather, operational and battery risks — insuring the growing solar industry brings insurance companies, agents and brokers face-to-face with evolving challenges. “We’re seeing burgeoning growth in solar, wind, and battery storage,” said Jason Kaminsky, CEO at kWh Analytics in …