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Tag: insurance-journal

99-Year-Old Yellow Trucking Company Shutting Down, Headed for Bankruptcy
Insurance Journal | August 1, 2023
99-Year-Old Yellow Trucking Company Shutting Down, Headed for Bankruptcy
Nashville-based trucking company Yellow Corp., just shy of its 100th birthday, has shut down operations and is headed for a bankruptcy filing, according to the Teamsters Union and multiple media reports. After years of financial struggles, reports of Yellow preparing …
Yellen Says Extreme Weather Exposes Gaps in Insurance Protection
Insurance Journal | August 1, 2023
Yellen Says Extreme Weather Exposes Gaps in Insurance Protection
Treasury Secretary Janet Yellen said the weather-related havoc playing out across the US is exposing a “protection gap” for Americans seeking insurance against property losses. Yellen, who also chairs the Financial Stability Oversight Council, said that a spate of extreme …
Hard Market Game Refuses to End: Arch Capital CEO
Insurance Journal | August 1, 2023
Hard Market Game Refuses to End: Arch Capital CEO
Drawing analogies to an epic tennis match and the hands of a clock, the leader of Bermuda-based Arch Capital declared the current hard market one of the longest the P/C industry has ever experienced. “This is the type of well-rounded …
Uber-Backed Group to Reboot Gig-Worker Ballot Initiative in Massachusetts
Insurance Journal | August 1, 2023
Uber-Backed Group to Reboot Gig-Worker Ballot Initiative in Massachusetts
A coalition of gig economy giants plan to reboot a failed ballot initiative in Massachusetts in a renewed push to cement their workers’ status as independent contractors. The Massachusetts Coalition for Independent Work, a group bankrolled by Uber Technologies Inc., …
Swedish Mining Firm Exempted From Paying Compensation for Toxic Spill in Spain in ’98
Insurance Journal | August 1, 2023
Swedish Mining Firm Exempted From Paying Compensation for Toxic Spill in Spain in ’98
A Spanish court on Friday exempted a Swedish mining firm from paying 89 million euros ($98 million) in compensation for the cleaning of a toxic sludge spill that occurred in 1998 at a heavy metals mine in southern Spain. The …
People Moves: Marsh Promotes Duca to Global Head of Credit Specialties; Howden Names Agarwal CEO, Howden India, as Vashista Becomes Chairman
Insurance Journal | August 1, 2023
People Moves: Marsh Promotes Duca to Global Head of Credit Specialties; Howden Names Agarwal CEO, Howden India, as Vashista Becomes Chairman
This edition of International People Moves details appointments at Marsh and Howden. A summary of these new hires follows here. Marsh Promotes Duca to Global Head of Credit Specialties Marsh, the insurance broker and risk adviser, announced the appointment of …
MGA Pen Underwriting Creates Standalone Financial Lines & Specialist Liability Division
Insurance Journal | August 1, 2023
MGA Pen Underwriting Creates Standalone Financial Lines & Specialist Liability Division
Pen Underwriting, the London-based managing general agent and Gallagher subsidiary, announced changes to its divisional structure to bring together core underwriting capabilities and expertise, for the benefit of its brokers. As of Aug. 1, Pen is separating its International & …
Rain Pelts Beijing, Northern China, Causing Floods and Claiming at Least 11 Lives
Insurance Journal | August 1, 2023
Rain Pelts Beijing, Northern China, Causing Floods and Claiming at Least 11 Lives
Relentless rain stretched into a fourth day in Beijing and nearby cities on Tuesday as a weakening typhoon brought non-stop precipitation and widespread flooding to northern China, so far claiming 11 lives. Rivers have swollen to dangerous levels, prompting Beijing …
Viewpoint: Innovation Trends Through the Lens of Qorus-Accenture Innovation Awards
Insurance Journal | August 1, 2023
Viewpoint: Innovation Trends Through the Lens of Qorus-Accenture Innovation Awards
The winners of the Qorus-Accenture Innovation in Insurance Awards were announced recently at a live ceremony in Milan, bringing together the industry’s trendsetters and pioneers. Now in its eighth year, this program has served as a catalyst for insurance innovation, …
As E-bikes Proliferate, so Do Deadly E-Bike Fires Blamed on Exploding Batteries
Insurance Journal | August 1, 2023
As E-bikes Proliferate, so Do Deadly E-Bike Fires Blamed on Exploding Batteries
The explosion early on a June morning ignited a blaze that engulfed a New York City shop filled with motorized bicycles and their volatile lithium-ion batteries. Billowing smoke quickly killed four people asleep in apartments above the burning store. As …