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Seattle OKs Virus ‘Hazard Pay’ for Grocery Workers
Seattle has joined other cities in approving extra pay for grocery store workers during the COVID-19 pandemic. The City Council on this week approved legislation requiring large groceries to pay an extra $4 an hour in hazard pay. The Seattle …
POSTED JANUARY 27, 2021 3:57 PM |
World Economic Forum: Allianz CEO Says Europe Must Alter Capital Rules for Climate
European regulators need to overhaul their capital rules to free up insurers to invest more in climate-friendly infrastructure projects, the chief executive of German insurer Allianz said on Wednesday. “Today, the regulatory framework we have in Europe has actually disincentivised …
POSTED JANUARY 27, 2021 3:54 PM |
Utility Paying $2B Settlement in Deadly 2018 California Fire
Southern California Edison will pay $2.2 billion to settle insurance claims from a deadly, destructive wildfire sparked by its equipment in 2018, the utility announced this week. Edison, which acknowledged no wrongdoing, said the agreement covers all claims in pending …
POSTED JANUARY 27, 2021 3:53 PM |
Investor Sues Drugmaker Astrazeneca Over Coronavirus Vaccine Testing Claims
AstraZeneca PLC was sued by a pension fund on behalf of investors who it says suffered losses because of flaws in the company’s testing of its coronavirus vaccine. For much of last year, the Cambridge, England-based pharmaceutical company was touting …
POSTED JANUARY 27, 2021 3:17 PM |
Parents of Maryland Teen Who Died in Class File Lawsuit
The parents of an autistic Maryland teenager who died in class after choking on a glove have filed a lawsuit against school officials, saying negligence led to their son’s death. Bryan and Tanya Levy, the parents of 17-year-old Bowen Levy, …
POSTED JANUARY 27, 2021 2:48 PM |
The Beacon Mutual Insurance Company Names Tumeinski as Chief Financial Officer
The Beacon Mutual Insurance Company has named Gregg Tumeinski as chief financial officer (CFO) at The Beacon Mutual Insurance Company. Tumeinski will succeed Cynthia Lawlor, who is retiring after more than 28 years at the Rhode Island workers’ compensation insurer. …
POSTED JANUARY 27, 2021 2:43 PM |
If Tokyo Olympics Canceled, Loss for Insurers Would Be ‘Mind-Blowingly’ Big
LONDON — Insurers are facing a $2-3 billion loss if the Tokyo Olympics are canceled this year, amounting to the largest ever claim in the global event cancellation market, brokers say. With less than six months until the Games are …
POSTED JANUARY 27, 2021 2:38 PM |
SterlingRisk Insurance Promotes Larocca to Chief Strategic Relations Officer
SterlingRisk Insurance, a Woodbury, New York-based independent insurance brokerage, has promoted Robert F. Larocca to chief strategic relations officer. Larocca, who began his career at SterlingRisk in 1999, will retain his title of executive vice president and continue to report …
POSTED JANUARY 27, 2021 2:33 PM |
China’s Central Bank Says Ant IPO Could Resume Once Problems Resolved
Ant Group Co. could resume its plans for an initial public offering once problems are resolved, China’s central bank chief said, offering some relief to global investors seeking signs on what the future holds for the world’s largest fintech giant. …
POSTED JANUARY 27, 2021 2:16 PM |
Volkswagen Wants U.S. Supreme Court to Nix ‘Staggering’ Diesel Claims by Counties
Volkswagen AG and a German auto supplier on Tuesday asked the U.S. Supreme Court to reverse a lower-court ruling that said two counties could seek financial penalties over excess diesel emissions that could total billions of dollars. The German automaker’s …
POSTED JANUARY 27, 2021 1:29 PM |
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