An Australian court ordered Westpac Banking Corp. to pay A$113 million ($82.92 million) in penalties for multiple compliance failures across its businesses, after hearing the last of the six cases filed against it by the country’s corporate watchdog. The Federal …
China’s “uniquely restrictive” data laws risk boosting U.S. firms’ cost of doing business in the No. 2 economy and could lead to digital decoupling, a new report from an American business group warns. The government’s curbs on data movement across …
Much attention was paid to ESG (environmental, social, and governance) issues and the Russian invasion of Ukraine as Marsh McLennan reported the highest first-quarter underlying growth in more than 20 years. First quarter net income attributable to the company was …
New Mexico Gov. Michelle Lujan Grisham has signed emergency declarations as 20 wildfires continued to burn Sunday in nearly half of the state’s drought-stricken 33 counties. One wildfire in northern New Mexico that started April 6 merged with a newer …
Financially strong EU and UK reinsurers will finally see the end of collateral requirements for business they write in the United States — changes that have been more than 20 years in the making. Effective Oct. 1, 2022, reinsurers, which …
The Florida Office of Insurance Regulation has given FedNat Insurance a week to come up with a plan to improve its financial footing, after the company’s stability rating was downgraded to level that is not recognized by the secondary mortgage …
A Maine roofing and siding contractor willfully exposed its employees to fall hazards at a Hampden, Maine residential construction site on multiple occasions during the same inspection, according to the federal Occupational Safety and Health Administration. OSHA has proposed a …
This edition of International People Moves details appointments at Lloyd’s, Chaucer, and H.W. Kaufman Group. A summary of these new hires follows here. Lloyd’s Names Hernandez Market Development Mgr., Central America Lloyd’s, the re/insurance marketplace for commercial, corporate and specialty …
North Carolina authorities have charged two men with fraud and theft after they submitted photographs of fires that never occurred. Antonio Collins, 32, of Greensboro, obtained $11,122 from State Farm Insurance after he filed a claim on his renter’s insurance …
The South Carolina Insurance Reserve Fund, which insures state and local governments, has stepped in to settle a lawsuit brought by a man who claimed he was sexually abused by an instructor at the Citadel, a military college. The payout …