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Archive: February 2023

Facebook Hit With $1 Million Fine Tied to User-Privacy Lawsuit
Insurance Journal | February 10, 2023
Facebook Hit With $1 Million Fine Tied to User-Privacy Lawsuit
Facebook and its outside law firm were ordered to pay almost $1 million in sanctions for deceitfully denying that it shared users’ private information with third parties without permission. The fine is “loose change” for Facebook and Gibson Dunn & …
NC House Passes Bill Raising Penalties for Violent Protests
Insurance Journal | February 10, 2023
NC House Passes Bill Raising Penalties for Violent Protests
A bill increasing punishments for violent protests following the 2020 demonstrations over George Floyd’s murder passed the North Carolina House on Wednesday despite harsh criticism from social justice advocates. Some bipartisan support signals a potential override of any veto by …
UK Government Seeks to Speed Up Post-Brexit Insurance Reforms
Insurance Journal | February 10, 2023
UK Government Seeks to Speed Up Post-Brexit Insurance Reforms
The UK government is in talks to speed the implementation of a flagship insurance reform to release £100 billion ($121 billion) of capital for investment, after months of clashes over the plans and frustration about the slow pace of change. …
Former Iowa Insurance Producer Sentenced for Fraud Scheme
Insurance Journal | February 10, 2023
Former Iowa Insurance Producer Sentenced for Fraud Scheme
Former insurance producer Oscar Sanchez of Marshalltown was recently sentenced in Marshall County District Court after pleading guilty to his actions in an insurance fraud scheme. Sanchez pled guilty on December 8th, 2022, to three counts of Insurance Fraud – …
Texas DWC Taking Comments on Proposed Rule Change to Update Insurance Code
Insurance Journal | February 10, 2023
Texas DWC Taking Comments on Proposed Rule Change to Update Insurance Code
The Texas Department of Insurance, Division of Workers’ Compensation (DWC) is accepting public comments on a proposed rule to amend 28 Texas Administrative Code Section 165.1. The changes would add Texas Mutual’s physical address, update Insurance Code references, and make …
Zurich Insurance Reports Net Income of $4.6B in 2022, Down 12% From 2021
Insurance Journal | February 10, 2023
Zurich Insurance Reports Net Income of $4.6B in 2022, Down 12% From 2021
Zurich Insurance Group reported net income attributable to shareholders of $4.6 billion in 2022, a 12% decrease from $5.2 billion in 2021, which was driven mainly by a lower level of capital gains, net losses on divestment of businesses and …
Louisiana Opens Insurer Application Period for Incentive Program
Insurance Journal | February 10, 2023
Louisiana Opens Insurer Application Period for Incentive Program
Louisiana Insurance Commissioner Jim Donelon announced that the 30-day application period for insurance companies to apply for Insure Louisiana Incentive Program funding is now open. Insurance companies that are interested in participating can learn more and apply at ldi.la.gov/insurela. The …
People Moves: Aura Risk Management Names Morrison SVP; RYZE Claim Solutions Promotes Isaacs to EVP/CPO
Insurance Journal | February 10, 2023
People Moves: Aura Risk Management Names Morrison SVP; RYZE Claim Solutions Promotes Isaacs to EVP/CPO
Aura Risk Management Introduces Morrison as Senior Vice President Aura Risk Management & Insurance Services, a member of The Liberty Company Network of Insurance Brokers, has brought aboard Eric Morrison as senior vice president. Morrison will be leading efforts to …
Illinois Truck Parts Company to Settle $200K Sexual Harassment Suit
Insurance Journal | February 10, 2023
Illinois Truck Parts Company to Settle $200K Sexual Harassment Suit
CHICAGO – Monro, Inc., owner and operator of more than 1,000 auto care locations across the country, will pay $200,000 and provide other relief to resolve a sexual harassment lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the …
NFL Is Sued for ‘Systematic Bias’ in Denying Former Players’ Disability Claims
Insurance Journal | February 10, 2023
NFL Is Sued for ‘Systematic Bias’ in Denying Former Players’ Disability Claims
Three days before the Super Bowl, the National Football League faces a proposed class action lawsuit by former players who claim its disability plan prevents them from getting the treatment they need. Ten former pros allege in the suit, filed …