Archive for July 2024
FTC Ban on Worker Noncompete Agreements Delayed by Judge
A federal judge delayed implementation of the US Federal Trade Commission’s near-total ban on noncompete agreements, the first salvo in the high-stakes legal fight over how much freedom workers should have to switch jobs within an industry. US District Judge … Source: Claims Journal
Read MoreState Farm Seeking Large Rate Increases in Wildfire-Prone California
State Farm has applied for large rate increases in California, a year after the carrier got rate approvals of 7% and 20%—adding fuel to a burning homeowners crisis in a state that’s seen an increasing number of carriers pullback or … Source: Claims Journal
Read MoreU.S. P/C Underwriting Results: Two Years in a Row Over $20 Billion in the Red
For the second year in a row, the U.S. property/casualty industry booked an underwriting loss of more than $20 billion primarily due to the lackluster performance of personal auto and home insurance lines. The total U.S. P/C underwriting loss in … Source: Claims Journal
Read MoreHurricane Beryl Roars Toward Jamaica on Destructive Path
Hurricane Beryl churned toward Jamaica with violent winds, heavy rains and a life-threatening storm surge that could cause more than $1 billion in damage. Beryl’s winds roared at 145 miles (230 kilometers) per hour early Wednesday, making it a Category … Source: Claims Journal
Read MoreNHTSA Closes Recall Query Into About 420,000 Volkswagen Vehicles
The U.S. auto safety regulator on Wednesday closed a recall query covering 420,072 Volkswagen vehicles after the automaker acted to fix a potential fuel leak. The recall covered certain VW Golf, Jetta and GTI models and the Audi A3 manufactured … Source: Claims Journal
Read MoreJury Awards $68.5M to Family of Worker Who Fell to Death at Philly Construction Site
A Philadelphia jury has awarded $68.5 million in damages to the widow and son of a 38-year-old construction worker who was killed in 2021 in a fall from a fifth-floor balcony at a luxury townhouse site. Siarhei Marhunou’s widow, Hanna, … Source: Claims Journal
Read MoreGallagher Bassett Acquires NetClaim from NAVEX
Gallagher Bassett acquired NetClaim from NAVEX. NetClaim provides first notice of loss and first report of injury services for risk management clients, insurance carriers and third-party administrators throughout the U.S. NetClaim will join Gallagher Bassett’s incident management team under the … Source: Claims Journal
Read MoreU.S. Workplace Safety Agency Proposes Protections from Extreme Heat
The Biden administration on Tuesday unveiled a long-awaited proposal that would require many U.S. employers to protect 36 million workers from extreme heat. The proposed rule from the U.S. Occupational Safety and Health Administration (OSHA), which enforces workplace safety laws, … Source: Claims Journal
Read MoreReport: Severe Weather Impacting Collision Repair, Auto Insurance
The auto insurance and repair industry must “adapt to new patterns and prepare for an unpredictable future,” according to the Crash Course Q2 2024 report released by CCC Intelligent Solutions Inc., a property/casualty insurance cloud platform provider. The latest report … Source: Claims Journal
Read MoreArturo Names Burke Chief Operating Officer
Arturo named Jordan Burke chief operating officer. Burke will oversee the optimization of Arturo’s internal processes. Burke was previously general manager of the software division at ABB Optical, an insurance verification, e-commerce, and business analytics firm. His prior roles include … Source: Claims Journal
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