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Archive: June 2025

Michigan Battery Manufacturer to Pay $95K Over Disability Discrimination Suit
Insurance Journal | June 20, 2025
Michigan Battery Manufacturer to Pay $95K Over Disability Discrimination Suit
Navitas Systems, LLC, an Ann Arbor, Michigan battery manufacturer, will pay $95,000 and furnish other relief to resolve a disability discrimination lawsuit filed by the U.S. Equal Opportunity Commission (EEOC), the federal agency announced. According to the EEOC’s lawsuit, Navitas …
Business Moves: Howden Acquires Chilean Retail Broker; United Risk Purchases Australian Facultative Reinsurance MGA, Pinnacle Underwriting
Insurance Journal | June 20, 2025
Business Moves: Howden Acquires Chilean Retail Broker; United Risk Purchases Australian Facultative Reinsurance MGA, Pinnacle Underwriting
Howden Acquires Chilean Retail Insurance Broker Howden, the London-based insurance intermediary group, announced it has acquired Ureta & Fernandez Corredores de Seguros Limitada (U&F), an independent retail insurance broker headquartered in Santiago, Chile. Following completion of the acquisition, Felipe Ureta …
China Warns of More Floods as Extreme Storms Hit World’s No. 2 Economy
Insurance Journal | June 20, 2025
China Warns of More Floods as Extreme Storms Hit World’s No. 2 Economy
Central and southern China were on high alert for more flash floods on Friday as the annual East Asia monsoon gathered pace and extreme rainfall threatened disruption in the world’s second-largest economy. Red alerts, the first for this year, were …
Rio Tinto Reaches $138.75M Settlement With Investors Over Mongolian Mine
Insurance Journal | June 20, 2025
Rio Tinto Reaches $138.75M Settlement With Investors Over Mongolian Mine
Rio Tinto agreed to pay $138.75 million to settle a lawsuit that accused the Anglo-Australian mining giant of defrauding investors by concealing problems with its $7 billion underground expansion of the Oyu Tolgoi copper and gold mine in Mongolia. A …
Iran Hijacking Home Security Cameras to Spy Within Israel
Insurance Journal | June 20, 2025
Iran Hijacking Home Security Cameras to Spy Within Israel
Iran is tapping into private security cameras in Israel to gather real-time intelligence about its adversary, exposing a recurrent problem with the devices that has emerged in other global conflicts. Earlier this week, after Iranian ballistic missiles tore through high-rise …
UK Car Theft Crisis Pits Manufacturers Against High-Tech Gangs
Insurance Journal | June 20, 2025
UK Car Theft Crisis Pits Manufacturers Against High-Tech Gangs
To the untrained eye, the red shipping container at Felixstowe looked no different to the thousands of others stacked up at Britain’s busiest seaport. Destined for Africa, its contents were listed as “household goods,” but to police officer Adam Gibson, …
Oklahoma Workers’ Compensation Commission Votes to Reduce MITF Assessment
Insurance Journal | June 20, 2025
Oklahoma Workers’ Compensation Commission Votes to Reduce MITF Assessment
The Oklahoma Workers’ Compensation Commission announced that it voted this spring to reduce the Multiple Injury Trust Fund assessment on workers’ compensation coverage providers from 7% to 6.29%. This is the first reduction in five years, the WCC said. The …
Toyota Files $361 Million South Africa Flood Damage Lawsuit: BD Report
Insurance Journal | June 20, 2025
Toyota Files $361 Million South Africa Flood Damage Lawsuit: BD Report
Toyota Motors Corp. has brought a lawsuit for 6.5 billion rand ($361 million) in a South African court for 2022 flood damages that shuttered its plant near Durban, Business Day reported. The claim against Transnet SOC Ltd., the KwaZulu-Natal Department …
Ex-Shell US Oil Trading Boss Claims He’s Owed $29 Million Bonus
Insurance Journal | June 20, 2025
Ex-Shell US Oil Trading Boss Claims He’s Owed $29 Million Bonus
Shell Plc’s former head of oil trading in the US was stiffed on his 2020 bonus by more than $29 million, he claims in a lawsuit that shines a light on compensation inside the oil major’s lucrative trading unit. John …
AmRisc Launches Reciprocal Exchange for Commercial E&S Market
Insurance Journal | June 20, 2025
AmRisc Launches Reciprocal Exchange for Commercial E&S Market
AmRisc, a subsidiary of Alabama-based CRC Group and Truist Insurance Holdings, has launched a reciprocal exchange, initally writing in Florida, Georgia, Alabama, California and Colorado, the company announced this week. Calais Reciprocal Insurance Exchange is domiciled in Illinois and plans …