13 06, 2024

Zombies: Ranks of World’s Most Debt-Hobbled Firms Soaring, and Not All Will Survive

By | June 13th, 2024|Uncategorized|Comments Off on Zombies: Ranks of World’s Most Debt-Hobbled Firms Soaring, and Not All Will Survive

They are called zombies, companies so laden with debt that they are just stumbling by on the brink of survival, barely able to pay even the interest on their loans and often just a bad business hit away from dying …

13 06, 2024

Commodity Ship Hit by Drone Near Yemen Is Taking on Water

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A commodity carrier was taking on water after being hit by a drone near Yemen, the latest incident underscoring the dangers of sailing through the Red Sea region. The UK Navy said Wednesday that a ship was hit by a …

13 06, 2024

Canada’s Largest School Board Targeted by Ransomware Attack

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Canada’s largest school district is investigating a cyber incident, adding to a series of ransomware attacks that have caused disruptions to companies and public institutions in the country. The Toronto District School Board alerted parents Wednesday in an emailed letter, …

13 06, 2024

Specialist Risk Group’s MGA, MX, Agrees to New Long-Term Capacity Arrangement

By | June 13th, 2024|Uncategorized|Comments Off on Specialist Risk Group’s MGA, MX, Agrees to New Long-Term Capacity Arrangement

Specialist Risk Group, the London-based insurance intermediary, announced that its managing general agent, MX, has agreed to a new capacity agreement with program manager Accredited Insurance (Europe) Ltd. (AIEL). AIEL is supported by a panel of “A” rated reinsurers, said …

13 06, 2024

Major Defense Contractor Accused of Discriminating Against Older Workers

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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

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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

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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

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

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

SpaceX Sued by Engineers Fired After Accusing Elon Musk of Sexism

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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 …