Agency Settles With Chicago Mortgage Firm Over Racial Discrimination Claims
The top U.S. consumer financial watchdog agency on Friday said it had reached a settlement in a long-running lawsuit with a Chicago mortgage lender over alleged racial discrimination. Under the terms of the proposed agreement, Townstone Financial would pay a …
Valencia Asks for €31 Billion Rescue Package After Deadly Floods in Spain
The region of Valencia is asking Spain’s central government for rescue funds to help with rebuilding after floods last week destroyed homes and left more than 200 dead. The Valencian government agreed to ask Madrid for €31.4 billion ($34.2 billion), …
Aon to Acquire UK Insurance Broker Griffiths & Armour
Insurance broker Aon plc has signed a definitive agreement to acquire UK-based insurance broker Griffiths & Armour. Financial details of the deal were not disclosed. Upon completion of the transaction, Griffiths & Armour will become wholly owned by Aon UK …
Russia Suspected of Plotting to Send Incendiary Devices to US
European and US intelligence officials believe Russia is behind a plan that would ultimately place incendiary devices on planes to North America through air cargo shipments, according to people familiar with the matter. Authorities are taking the incidents seriously, and …
London Protesters Demand Water Companies Clean Up Sewage-Tainted Rivers
Holding signs with slogans including “stop the plop” and “species not feces,” thousands of people marched in London on Sunday to demand a cleanup of Britain’s sewage-clogged waterways. Organizers estimated that 15,000 people took part in the march along the …
NHTSA Closes Probe Into 411,000 Ford Vehicles Due to Loss of Power
The National Highway Traffic Safety Administration said on Monday it has closed a probe into 411,000 Ford SUVs and pickup trucks over a potentially defective engine that could lose power without warning. In July 2022, the U.S. auto safety regulator …
Grindr Used RTO to Thwart Union, Forcing Out Half of Staff, NLRB Alleges
Grindr Inc. illegally imposed a return-to-office policy last year that forced out half its staff in an attempt to thwart a unionization push, the US labor board alleged in a new complaint. The US National Labor Relations Board’s general counsel …
AIG General Insurance Underwriting Profit Falls 28% in Q3
American International Group saw third quarter underwriting income in its general insurance segment fall 28% to $437 million due to higher catastrophe losses and lower favorable development on prior year reserves. The insurer’s third quarter net income attributable to common …
SEC Says JPMorgan Chase Settles Five Enforcement Cases, to Pay $151M
JPMorgan Chase will pay $151 million to settle five U.S. Securities and Exchange Commission enforcement cases, including accusations that the largest U.S. bank made misleading disclosures to brokerage customers, the regulator said on Thursday. The settlements include $61 million of …
Despite Recent Backlash, Nearly 60% of U.S. Workers Support Current DEI Policies
While recent events have put corporate America’s diversity efforts on defense, the programs continue to receive strong support from employees, according to new research from The Conference Board. The survey gauges employees’ and executives’ perceptions of DEI initiatives and backlash. …
Would Letting Roofers Do More Wind-Mit Work Help Cut Florida’s Insured Losses?
A recent photograph of destruction left by Hurricane Milton’s wind tells the story: An entire roof section on a residential complex in Bradenton, Florida – including rafters and ceiling joists – was ripped off, exposing people’s abodes and belongings to …
60,000 Wawa-Branded Tumblers Recalled Because Their Metal Straws Can Cut Customers
Some 60,000 Wawa-branded beverage tumblers are under recall due to a laceration hazard posed by the products’ metal straw. According to a Thursday notice published by the U.S. Consumer Product Safety Commission, the metal straw inside the now-recalled tumblers can …
Changes to Washington Homeowners and Auto Premium Rule to Be Considered
Washington Insurance Commissioner Mike Kreidler has proposed modifying the state’s recently adopted premium change transparency rule. The proposal is specific to Phase 2 of the rule (the automatic inclusion of reasons for premium increases in policy renewals). It moves the …
US shippers Avoid East Coast Ports on Risk of Second Strike
U.S. shippers are steering clear of East and Gulf Coast ports amid worries the 45,000 dockworkers at those trade hubs will go on strike again if their union leader does not land a new contract with employers by a Jan. …
Recreational Cannabis Home Delivery Begins in Arizona
Arizona residents were able to get recreational cannabis delivered to their homes beginning last Friday, marking a new milestone for a state program that until now had allowed the service only for medical marijuana patients. The Arizona Department of Health …
Maryland Fears Mobile Home Values Will Shrink as Insurance Disappears
Owners of mobile and manufactured homes in Maryland’s coastal communities and their insurance agents are having difficulty finding insurance coverage as carriers pull away from the market. The problem is squeezing owners who want to sell their mobile or manufactured …
PepsiCo Beats New York State’s ‘Predatory’ Lawsuit Over Plastics Pollution
PepsiCo won the dismissal of New York’s lawsuit accusing the beverage and snack-food company of polluting the environment with single-use plastic packaging, as the judge criticized the state’s attorney general, Letitia James, for bringing the case. Justice Emilio Colaiacovo of …
Delta-8 Hemp, Medical Marijuana Industries to Face Off in Texas Legislative Session
Jack Stinnett got life-changing news in 2020 when he learned the lump that appeared on the side of his neck was tongue and mouth cancer. He and his wife Karen quickly enrolled him at MD Anderson Cancer Center in Houston, …
Data Centers Will Have to Make Minimum Power Payments in Ohio
Big data centers in Ohio will have to pay a minimum of 85% of the energy they need to cover the costs of grid improvements under a settlement submitted Wednesday by one of the state’s largest utilities. The pact was …
Judge Dismisses Lawsuit Against Minnesota Trooper in Fatal Shooting of Black Man
A federal judge has dismissed a civil rights lawsuit against a white Minnesota state trooper who shot and killed a Black man during a traffic stop last year, ruling that the trooper’s actions did not violate the law. On Wednesday, …
Insurance Journal delivers the latest business news for the Property/Casualty insurance industry
Subscribe to Insurance Journal feed