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Category: Insurance Journal

Washington Greenhouse Gas Allowance Auction Raises $300M
Insurance Journal | March 10, 2023
Washington Greenhouse Gas Allowance Auction Raises $300M
Washington state’s first auction of greenhouse-gas pollution allowances has generated an estimated $300 million as companies, consumers and the Legislature get a glimpse of the cost of emitting greenhouse gases that are increasing climate catastrophes. The Department of Ecology announced …
OSHA Cites Long Island Thermometer Maker Over Mercury Exposure in Workplace
Insurance Journal | March 10, 2023
OSHA Cites Long Island Thermometer Maker Over Mercury Exposure in Workplace
Federal workplace safety inspectors have cited a New York thermometer manufacturer for overexposing its employees to mercury at its West Babylon facility. Occupational Safety and Health Administration (OSHA) inspectors said they determined Kessler Thermometer Corp. overexposed employees to airborne elemental …
NS Train Derails in Alabama Before CEO is Grilled in Congress
Insurance Journal | March 10, 2023
NS Train Derails in Alabama Before CEO is Grilled in Congress
A Norfolk Southern train derailed Thursday in Alabama, just hours before the rail company’s CEO testified in Congress about last month’s fiery derailment of an Ohio train carrying hazardous chemicals. The northeast Alabama incident, the latest of several recent derailments …
Groups Charge Alabama Officials with Discrimination in Wastewater Funds Allocation
Insurance Journal | March 10, 2023
Groups Charge Alabama Officials with Discrimination in Wastewater Funds Allocation
Environmental organizations have filed a civil rights complaint against Alabama, accusing the state of discriminating against minority communities in how it distributes funding for wastewater infrastructure, including money for families who need help dealing with raw sewage in their yards. …
Voters in Vermont’s Largest City Nix Police Oversight Board
Insurance Journal | March 10, 2023
Voters in Vermont’s Largest City Nix Police Oversight Board
Voters in Vermont’s largest city have rejected a proposal for a community police oversight board that would have had the authority to discipline and remove Burlington police officers. Burlington Mayor Miro Weinberger, a Democrat, vetoed a similar measure in 2020. …
Turkey’s Southeast Exodus After Deadly Earthquake Puts Manufacturing at Risk
Insurance Journal | March 10, 2023
Turkey’s Southeast Exodus After Deadly Earthquake Puts Manufacturing at Risk
Mehmet Alkan, a shoe-sole manufacturer in Turkey’s earthquake-hit south, doesn’t know what will become of his company after some of his 220 employees died and half fled, reflecting the difficult transformation ahead for industry in the region. Forty of his …
Lloyd’s Third-Party Managing-Agent Asta Opens Service Company in Singapore
Insurance Journal | March 10, 2023
Lloyd’s Third-Party Managing-Agent Asta Opens Service Company in Singapore
Asta, the leading third-party managing agent at Lloyd’s, announced it is strengthening its global presence by establishing a service company in Singapore. With the Asian market presenting extensive opportunities, Asta has launched a service company that will enable clients easily …
Allianz Restructures Global Commercial Insurance Unit as One Go-to-Market Business
Insurance Journal | March 10, 2023
Allianz Restructures Global Commercial Insurance Unit as One Go-to-Market Business
Allianz Group announced it is restructuring its global commercial insurance segment as one go-to-market business under the trading name Allianz Commercial, which will encompass its Allianz Global Corporate & Specialty (AGCS) business, serving large corporate clients, and the insurance businesses …
China’s Financial Regulatory Revamp Raises Hope, but Some Concerns
Insurance Journal | March 10, 2023
China’s Financial Regulatory Revamp Raises Hope, but Some Concerns
A new Chinese financial watchdog will help bridge regulatory gaps but analysts and investors say the agency will consolidate power at the top and could introduce more state and party intervention. In a major shake-up, China will set up the …
Markets/Coverages: Specialist Re/insurer Apollo Announces Partnership With Praedicat to Harness Emerging Risk Insights
Insurance Journal | March 10, 2023
Markets/Coverages: Specialist Re/insurer Apollo Announces Partnership With Praedicat to Harness Emerging Risk Insights
Apollo, the London-based independent specialist insurer and reinsurer, announced a three-year agreement with Praedicat, the California-based emerging risk analytics and modeling company, that will deploy Praedicat’s technology and data for Apollo’s underwriting and portfolio management. Praedicat’s CoMeta™ platform creates underwriting …