August 10, 2020

Tue, 11 Aug 2020 05:00:25 +0000
McDonald’s Corp. said on Monday it sued former Chief Executive Steve Easterbrook to recoup tens of millions of dollars in severance and benefits, claiming he covered up and lied about sexual relationships with at least three employees. The lawsuit came …
Tue, 11 Aug 2020 05:00:11 +0000
The United States will need to have independent experts review COVID-19 vaccine candidates before approval, the country’s top drug regulator said on Friday, offering reassurance that his agency would not cut corners in the race to roll out a vaccine. …
Tue, 11 Aug 2020 00:25:58 +0000
Hurricane Isaias likely caused $4 billion of insured losses in the U.S. and $200 million in the Caribbean, according to risk modelers at Karen Clark & Co. The estimates cover privately insured wind and storm surge damage to residential, commercial, …
Tue, 11 Aug 2020 00:12:30 +0000
A California judge on Monday granted the state’s request for a preliminary injunction blocking Uber Technologies Inc. and Lyft Inc. from classifying their drivers as independent contractors rather than employees. The judge signaled last week he might b...
Mon, 10 Aug 2020 23:03:52 +0000
Several residents near a western Colorado wildfire were ordered to evacuate as the blaze continues to expand. The fire about 18 miles north of Grand Junction was started more than a week ago by lightning in remote and rough terrain …
Mon, 10 Aug 2020 22:58:38 +0000
A federal judge has ordered Pacific Gas and Electric to better inspect high-voltage power lines, hire more tree-trimming supervisors and upgrade records regarding the age of electrical equipment as part of efforts to prevent deadly and destructive wild...
Mon, 10 Aug 2020 17:12:21 +0000
Brown & Brown Inc. has entered into an agreement to acquire the assets of HAUSER in Ohio. The deal is expected to close in September, subject to certain closing conditions. Terms were not disclosed. HAUSER focuses on insurance solutions for …
Mon, 10 Aug 2020 16:57:20 +0000
Officials say an earthquake – the strongest in more than 100 years – shook much of North Carolina early Sunday, rattling homes, buildings and residents. The National Weather Service in Greenville said the 5.1-magnitude temblor struck at 8:07 a.m., foll...
Mon, 10 Aug 2020 14:57:22 +0000
Arizona’s attorney general has obtained a $22.5 million judgment against a New Jersey-based vaping company along with a court order permanently barring the company from selling its products in the state. Attorney General Mark Brnovich announced the jud...
Mon, 10 Aug 2020 14:54:06 +0000
A northern Indiana utility is facing a $1.1 million fine, the largest in state history, after state regulators cited it for natural gas pipeline safety violations and specified that the company cannot pass that cost onto its ratepayers. The Indiana …
Mon, 10 Aug 2020 14:51:30 +0000
Texas Gov. Greg Abbott has extended a statewide disaster declaration he first issued in March to allow the state to better respond to the coronavirus pandemic. “Renewing this Disaster Declaration will provide communities with the resources they need to...
Mon, 10 Aug 2020 14:49:23 +0000
There are an additional 772 reported coronavirus cases in Arkansas and 14 additional deaths due to COVID-19, the disease caused by the virus, the Arkansas Department of Health reported. The department said there are 48,811 confirmed coronavirus cases a...
Mon, 10 Aug 2020 14:47:31 +0000
Global average commercial insurance prices increased 19% in the second quarter of 2020, the eleventh straight quarter they have risen. Average price increases were driven principally by increases in property insurance rates and financial and profession...
Mon, 10 Aug 2020 14:46:42 +0000
The mother of an 18-year-old University of Iowa student who froze to death in January 2019 is suing the school for negligence. Michael Belz, of Cedar Rapids, was caught outside of his residence hall on the night of Jan. 29, …
Mon, 10 Aug 2020 13:50:08 +0000
Global insurer Chubb announced appointments to two new executive positions. Chubb has named John Lupica as president of North America Insurance, the company’s largest division. Lupica is currently vice chairman, Chubb Group, and president, North Americ...
Mon, 10 Aug 2020 13:02:54 +0000
Berkshire Hathaway Inc. had a tough second quarter with the pandemic taking a toll on most of its operating businesses including Precision Castparts aircraft parts, the BNSF railroad, Occidental Petroleum Corp., Kraft Heinz Co. and retailers including ...
Mon, 10 Aug 2020 12:40:51 +0000
The National Weather Service has confirmed that tornadoes touched down in Bucks and Montgomery counties during Tuesday’s storm. The weather service office in Mount Holly, New Jersey, said more details would be provided later such as the strength and ex...
Mon, 10 Aug 2020 12:38:51 +0000
Connecticut Governor Ned Lamont called for an investigation of the state’s two largest electric utility companies Wednesday as hundreds of thousands of residents remained without power a day after Tropical Storm Isaias ripped through the state. Lamont ...
Mon, 10 Aug 2020 12:31:03 +0000
Randall & Quilter Investment Holdings Ltd. (R&Q) has reached an agreement to merge its wholly owned subsidiary, Sandell Re Ltd., with Tradesman Program Managers LLC in return for a 35% interest in the combined entity. The transaction is subject to …
Mon, 10 Aug 2020 10:29:22 +0000
AXA SA is considering a sale of its Singapore business as it seeks to raise funds divesting peripheral operations, according to people familiar with the matter. The French insurer is working with an adviser on the potential sale, the people …
Mon, 10 Aug 2020 10:19:44 +0000
Broker and risk adviser Marsh announced the appointment of Winsee Cheung as UK Placement Leader, Marsh JLT Specialty. Effective in the fourth quarter, Cheung will report to Paul Moody, UK CEO, Marsh JLT Specialty, and will be based in London. …
Mon, 10 Aug 2020 10:03:59 +0000
Global average commercial insurance prices increased 19% in the second quarter of 2020, according to the latest Global Insurance Market Index released by broker and risk adviser Marsh. The increase, the largest since the Marsh index was launched in 201...
Mon, 10 Aug 2020 08:52:42 +0000
Like the rest of us, the world’s finance industry is still wrestling with the huge uncertainty of a pandemic that doesn’t yet have an end. The sector’s reputation took a battering after the financial crisis, and it’s too early to …
Mon, 10 Aug 2020 07:07:22 +0000
A federal judge has upheld the convictions of two men found to be trying to bribe North Carolina’s top insurance regulator with large political contributions so that scrutiny of a defendant’s businesses would be eased. A jury in March found …
Mon, 10 Aug 2020 07:02:06 +0000
A state study shows that Black drivers in North Carolina are stopped by police at more than twice the rate of white drivers. The Raleigh News & Observer reported Wednesday that roughly 25 out of 100 Black drivers were stopped …
Mon, 10 Aug 2020 06:56:00 +0000
Construction was halted Thursday at a Miami construction site where six workers were hurt when a load of rebar fell from a crane, officials said. A stop-work order was issued for the Brickell 57-floor property, which is a joint venture …
Mon, 10 Aug 2020 06:32:51 +0000
Gridiron Insurance Underwriters, Inc., a program manager specializing in program business on a regional and national basis through select retail and wholesale producers, has hired Ben Murphy as its new head of Property. Murphy joins Gridiron after 15 y...
Mon, 10 Aug 2020 05:00:57 +0000
Chicago, Ill.-based HUB International Ltd. has added Geoff Hatfield and Scott Webb to the Central region executive team. Hatfield joined as chief strategy officer and Webb as chief sales officer, new roles responsible for driving growth in the Central ...
Mon, 10 Aug 2020 05:00:47 +0000
What pandemic? Allstate’s doing just fine. The giant personal lines insurer reported net income of $1.2 billion for the second quarter, an increase of 49% compared to the prior year quarter. Underwriting income improved to $904 million – a rise …
Mon, 10 Aug 2020 05:00:46 +0000
“Black Lives Matter to me and they matter to us as an organization,” Progressive Corp. CEO Tricia Griffith wrote in a letter to shareholders. In the letter that was mostly commentary on second quarter results, Griffith vowed to increase her …