Singapore’s bolttech, Valued at $2.1 Billion, Raises More Than $100 Million
Singapore-headquartered insurance technology firm bolttech has raised more than $100 million in its latest funding round, led by Dragon Fund of Mitsubishi UFJ Financial Group and fintech direct lender Liquidity Group, it said on Friday. The Series C funding round …
Grubhub to Pay $25M in Deceptive Business Settlement With Illinois AG and FTC
SPRINGFIELD, Ill. (AP) — Grubhub Inc., an online food ordering and delivery platform, will pay $25 million to settle a dispute over alleged deceptive business practices with the Illinois attorney general and the Federal Trade Commission, officials said Tuesday. Attorney …
People Moves: Augment Risk Tabs McElhiney to Lead New Captive Offering
Augment Risk, the reinsurance and risk capital solutions broker, announced the appointment of Steve McElhiney as partner of newly created captive and alternative risk transfer solutions offering. Based in Dallas, Steve will develop Augment Risk’s efforts in creating legacy solutions …
Auto Insurer’s Online System Breach Tied to Unemployment Fraud
Noblr, a USAA Insurance subsidiary offering insurance through an online quoting application, will pay $500,000 following a data breach that New York officials say affected 80,000 people and led to fraudulent unemployment benefit claims. New York Attorney General Letitia James …
Amazon Agrees to Worker Safety Measures to Settle OSHA Probe
Amazon.com will implement safety measures at all of its U.S. facilities to settle a federal agency’s claims that it failed to prevent workers from developing back problems and other ergonomic injuries, the agency said on Thursday. Amazon settled a series …
American Airlines Settles Race Discrimination Suit by Black Men Removed From Flight
American Airlines has agreed to settle a race discrimination lawsuit by three Black men who were temporarily removed from a flight at the insistence of white flight attendants, according to a court filing on Thursday. The terms of the agreement …
Surviving the ‘Silver Tsunami’: Closing the Talent, Skills Gap in Underwriting
With a “silver tsunami” of skilled underwriters eligible to retire in coming years and a shift in employee expectations, recruitment and retention is a critical focus for the insurance industry right now, said experts during a November webinar hosted by …
Senate Committee Reveals Climate Change Danger to Financial System
A Senate Budget Committee report shows how dangerous climate change is to the nation’s financial system as well as how bad it could be for homeowners seeking affordable insurance. A Senate Budget Committee Staff report out this month, Uncovering the …
Afore Moves into Childcare Insurance Market With Block Insurance of Florida
Afore Insurance Services, a brokerage and broker acquisition platform based in the Atlanta area, has acquired Block Insurance in Oveido, Florida, a firm that has specialized in finding coverage for childcare providers, educators, private schools and martial arts organizations. Afore …
Florida Businessman Pleads Guilty to Rolling Back Odometers by Thousands of Miles
A Florida car dealer is awaiting sentencing after he pleaded guilty to rolling back the odometers on at least three vehicles by thousands of miles. Drew Mitchell Schreiber, owner of Central Florida Automotive Group, in Winter Garden, admitted that he …
Suspect in Killing of UnitedHealth Executive Faces Federal Murder Charge
The suspect in the killing of UnitedHealth Group UNH.N executive Brian Thompson is being charged with federal murder and stalking crimes, according to a court document filed on Thursday, alongside state murder and terrorism charges previously announced by New York …
Man Charged With Hiring Another to Burn Down His Home for $1.3 Million in Insurance
A New York man has been arrested on charges of conspiracy, arson and insurance fraud for allegedly hiring a man to set fire to his Yonkers home and then attempting to collect more than $1.3 million from his home insurance …
Doctor to Plead Guilty to Bilking $3M from California’s Workers’ Comp Trust Fund
A physician who worked for an Inland Empire medical company has agreed to plead guilty to conspiring to defraud California’s workers’ compensation trust fund by continuing to work on workers’ comp matters after being suspended due to a prior healthcare …
Hub International Acquires Otter Insurance Agency in Washington
Hub International Ltd. acquired the assets of Otter Insurance Agency Inc. in Lynnwood, Washington. Patrick Otter, president, and the Otter Insurance Agency team will join HUB Northwest. Otter Insurance Agency will be referred to as Otter Insurance Agency, a Hub …
California Man Sentenced to 16 Years for Auto Insurance Fraud
A California man was sentenced to 16 years in prison for filing false claims on dozens of auto collisions. Jacob McNabb, 33, of Bakersfield, was sentenced following a jury’s guilty verdict on four felony counts including insurance fraud after a …
Medicare Advantage Whistleblower Case Settled in New York
US authorities have reached a settlement to resolve a whistleblower case alleging that a New York state health insurer systematically defrauded the federal Medicare program by exaggerating how sick members were in order to boost profits. The settlement was disclosed …
US Banning Drone Flights Over New Jersey Utility Transmission Sites
The Federal Aviation Administration on Thursday said it was temporarily barring drone flights over 22 utility locations in New Jersey amid public concern. The FAA said the decision to bar drones for 30 days at the sites was made in …
Car Crashes in Foggy Weather Injure 33 People Near New Orleans
NEW ORLEANS (AP) — Several people were injured Tuesday morning after foggy conditions contributed to several car crashes that forced the closure of the 24-mile-long (38.6-kilometer-long) bridge connecting the north and south shores of southeast Louisiana’s Lake Pontchartrain. By early …
Texas Property Management Companies Pay $55K in Disability Discrimination Suit
Texas property management companies Castle Hills Master Association Inc., Bright Realty LLC, Bright Industries LLC, and Bright Executive Services LLC will pay $55,000 and furnish other relief to settle a disability discrimination lawsuit filed by the U.S. Equal Employment Opportunity …
DARAG Completes Sale of North American and Bermuda Businesses to RiverStone
DARAG Group, the Malta-based legacy acquirer that focuses on the European market, announced it has completed the sale of its North American and Bermuda business entities to the RiverStone Group, a subsidiary of Fairfax Financial Holdings Ltd. Financial details of …