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Archive: January 2024

NCCI: Wage Growth Likely to Continue Workers Comp Payroll Growth
Insurance Journal | January 30, 2024
NCCI: Wage Growth Likely to Continue Workers Comp Payroll Growth
Despite a “significant slowdown” in job growth in 2023, a new National Council on Compensation Insurance briefing shared that “wage growth will likely continue to drive workers compensation payroll growth throughout 2024.” “Employment gains slowed in 2023 from 2022; however …
Philips’ US Sales of Sleep Apnea Devices Face Years-Long Halt After FDA Deal
Insurance Journal | January 30, 2024
Philips’ US Sales of Sleep Apnea Devices Face Years-Long Halt After FDA Deal
Dutch health technology company Philips will not sell new devices to treat sleep apnea in the U.S. in the coming years as it works to comply with a settlement with the Food and Drug Administration (FDA) announced on Monday. The …
Trader Joe’s Follows SpaceX in Arguing US Labor Board Is Unconstitutional
Insurance Journal | January 30, 2024
Trader Joe’s Follows SpaceX in Arguing US Labor Board Is Unconstitutional
Grocery chain Trader Joe’s is joining Elon Musk’s SpaceX in arguing that the US labor board, which is prosecuting cases against both companies, is unconstitutional. At a Jan. 16 National Labor Relations Board hearing in Connecticut, an attorney for Trader …
Three in Miami Charged with Workers’ Comp Payroll Fraud
Insurance Journal | January 30, 2024
Three in Miami Charged with Workers’ Comp Payroll Fraud
Three Miami-area construction labor suppliers have been charged with underreporting payroll and shorting their workers’ compensation insurers more than $220,000 in premiums. Juana Ledezma and Luis Ledezma, associated with Superior Group Management Inc., were arrested in mid-January after an investigation …
Resilience in California Expands Cyber Risk Management for Global Clients of $10B in Revenue
Insurance Journal | January 30, 2024
Resilience in California Expands Cyber Risk Management for Global Clients of $10B in Revenue
San Francisco, California-based Resilience expanded its underwriting authority to serve large global companies with up to $10 billion in annual revenues. The company reports that its expanded authorities come after a strong year of growth, with fewer than 5% of …
Arthur J. Gallagher & Co. Acquires Louisiana’s Forest Insurance Facilities
Insurance Journal | January 29, 2024
Arthur J. Gallagher & Co. Acquires Louisiana’s Forest Insurance Facilities
Arthur J. Gallagher & Co. announced that its U.S. wholesale brokerage, binding authority and programs division, Risk Placement Services, Inc. (RPS), has acquired Metairie, Louisiana-based Forest Insurance Facilities. Terms of the transaction were not disclosed. Forest Insurance Facilities is a …
California to Get Drenched From Fast-Moving Atmospheric River
Insurance Journal | January 29, 2024
California to Get Drenched From Fast-Moving Atmospheric River
A fast-moving atmospheric river coming off the Pacific Ocean will drench northern and central California on Wednesday and then head for the the southern half of the state. Northwest California will likely get the worst of the storm, with as …
Markets/Coverages: Howden Launches Carbon Capture and Storage Insurance Facility
Insurance Journal | January 29, 2024
Markets/Coverages: Howden Launches Carbon Capture and Storage Insurance Facility
Howden, the London-based global insurance group, announced an insurance facility that covers the leakage of carbon dioxide (CO2) from commercial-scale carbon capture and storage (CCS) facilities. The insurance facility, designed by Howden and led by SCOR’s syndicate at Lloyd’s, provides …
People Moves: BevCap Promotes Bossier to President
Insurance Journal | January 29, 2024
People Moves: BevCap Promotes Bossier to President
BevCap Management, a provider of risk management solutions, announced the promotion of Matthew Bossier, ARM to the position of President, Property & Casualty. In his new role, Bossier will be responsible for leading and overseeing the strategic direction of the …
New Orleans to Activate Citywide Freeze Plan Ahead of Extreme Winter Weather
Insurance Journal | January 19, 2024
New Orleans to Activate Citywide Freeze Plan Ahead of Extreme Winter Weather
The City of New Orleans announced that they will activate a citywide freeze plan in anticipation of the extreme winter weather expected to bring dangerously low temperatures below freezing starting Jan. 19. The National Weather Service (NWS) predicts that there …