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Category: Insurance Journal

Ex-Employee Accuses Private Equity Firm of Retaliatory Firing Over Complaint
Insurance Journal | May 30, 2024
Ex-Employee Accuses Private Equity Firm of Retaliatory Firing Over Complaint
A former executive assistant at One Equity Partners sued the private equity firm on Wednesday, claiming she was subjected to sexist and racist conduct and was fired for complaining about it. Dianna Toomey, an Arab American of Lebanese descent, said …
People Moves: Ryan Specialty Promotes Pouliot to Chief Reserving Officer
Insurance Journal | May 30, 2024
People Moves: Ryan Specialty Promotes Pouliot to Chief Reserving Officer
Ryan Specialty, headquartered in Chicago, promoted Derek Pouliot to chief reserving officer of Ryan Specialty Underwriting Managers (RSUM). In his expanded role, Pouliot is responsible for valuation of underwriting results for all business written by RSUM, including portfolio analysis, risk …
Robot to Remove Melted Nuclear Fuel From Japan’s Damaged Fukushima Reactor
Insurance Journal | May 30, 2024
Robot to Remove Melted Nuclear Fuel From Japan’s Damaged Fukushima Reactor
The operator of Japan’s destroyed Fukushima Daiichi nuclear power plant demonstrated Tuesday how a remote-controlled robot would retrieve tiny bits of melted fuel debris from one of three damaged reactors later this year for the first time since the 2011 …
Climate Lawsuits Build as Latin American Court Hears Largest Case Ever
Insurance Journal | May 30, 2024
Climate Lawsuits Build as Latin American Court Hears Largest Case Ever
Latin America’s human rights court holds a final hearing in Brazil on Wednesday in a case that’s part of a global wave of climate litigation, as several international courts prepare first-time opinions on what countries must do to combat climate …
China Weighs Record Fine for PwC Over Evergrande Audit Work
Insurance Journal | May 30, 2024
China Weighs Record Fine for PwC Over Evergrande Audit Work
China is poised to impose a record fine on PricewaterhouseCoopers LLP and suspend some of the global auditor’s local operations over its role in one of the nation’s biggest alleged financial fraud cases, according to people familiar with the matter. …
EU Weighs Proposal to Sanction Russian Oil Tanker Insurer Ingosstrakh
Insurance Journal | May 30, 2024
EU Weighs Proposal to Sanction Russian Oil Tanker Insurer Ingosstrakh
The European Union’s executive arm is examining the feasibility of a proposal by one of its member states to sanction Russia’s Ingosstrakh Insurance Co., as part of efforts to choke revenue generating streams that Moscow needs to finance its war …
Wisconsin Average Indemnity Benefit Up, Disability Duration Still Short: WCRI
Insurance Journal | May 30, 2024
Wisconsin Average Indemnity Benefit Up, Disability Duration Still Short: WCRI
Wisconsin’s average indemnity benefit per claim grew nearly 10% in 2022, fueled by large growth in the average duration of temporary disability per claim, according to a recent study from the Workers Compensation Research Institute. Nevertheless, the duration of temporary …
Survey: Mid-Market Leaders Peg Cyber, Economy and Regulation as Top Concerns
Insurance Journal | May 30, 2024
Survey: Mid-Market Leaders Peg Cyber, Economy and Regulation as Top Concerns
Business leaders place cybersecurity, the economy, regulatory challenges and global instability among their top concerns for the coming year, fueled by factors such as AI, climate change, nuclear verdicts and political unrest. The annual Marsh McLennan Agency Business Insurance Trends …
How AI Can Reshape Claims Management
Insurance Journal | May 30, 2024
How AI Can Reshape Claims Management
How can artificial intelligence change property and casualty insurance claim processing? Two industry experts answered that question from a few angles during Carrier Management’s annual InsurTech Summit. Frank Giaoui, founder and CEO of Optimalex Solutions, and Shane Riedman, general manager …
White House to Support New US Nuclear Power Plants
Insurance Journal | May 30, 2024
White House to Support New US Nuclear Power Plants
The White House on Wednesday planned to announce new measures to support the development of new U.S. nuclear power plants, a large potential source of carbon-free electricity the government says is needed to combat climate change. The suite of actions, …