Ban on Worker Noncompetes Faces Uphill Legal Battle

The U.S. Federal Trade Commission’s ban on “noncompete” agreements commonly signed by workers is likely vulnerable to legal challenges, experts said, as some courts have grown increasingly skeptical of federal agencies’ power to adopt broad rules. The commission in unveiling …

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Class Action Opposes Limiting Ship’s Liability for Baltimore Bridge Collapse

A Baltimore small business has filed a class action against the owner and operator of the cargo ship Dali that crashed into the Francis Scott Key Bridge last month. The suit, filed Thursday by the Karen Austin, the founder of …

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‘It’s in the Mail’ Is Not Good Enough to Protest Workers’ Compensation Claim

A Connecticut employer lost its right to contest a workers’ compensation claim because although it mailed its notice to the workers’ compensation law judge within the 28 day statutory period, the judge did not receive the notice by the 28th …

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People Moves: Zurich NA Names Higginbotham Head of Pro Liability & Cyber; FM Global CEO Appointed Board Chair; WTW Names Lombardo Named Chair of REHL Division

Zurich NA Names Higginbotham Head of Professional Liability & Cyber Zurich North America, headquartered in Schaumburg, Illinois, has named Kara Higginbotham as head of professional liability and cyber for U.S. national accounts, leading a team of underwriters who serve Zurich’s …

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People Moves: Lockton Promotes 2 in Crisis Management Team, Announces Changes in Norway Leadership

Lockton, the independent insurance broker, announced two key senior promotions within its Crisis Management team in London. Helen Sandford has been appointed as head of Special Crime, and Freddie Schlesinger has been appointed head of Product Recall and Reputational Risk, …

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Global Insurance Prices Continue Moderating as Rates Decline in Most Regions: Marsh

Global commercial insurance rates increased by 1% on average in the first quarter of 2024, compared with a 2% increase in Q4 2023, according to the Global Insurance Market Index published by Marsh, the insurance brokerage business of Marsh McLennan. …

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Republican Senators FARMER Act to Boost Crop Insurance Coverage

Republican senators this month introduced legislation they say would increase support for crop insurance and make higher levels of coverage more affordable to farmers. Sen. John Hoeven (R-N.D) proposed the Federal Agriculture Risk Management Enhancement and Resilience (FARMER) Act, an …

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Catastrophe Monitoring Firm ICEYE Completes $93 Million Funding Round

ICEYE, the microsatellite manufacturer and catastrophe monitoring company, announced definitive agreement signed for an oversubscribed $93 million growth funding round. The financing will further accelerate investment in the world’s largest constellation of synthetic aperture radar (SAR) satellites and expand the …

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Delaware High Court Hands Agency a New Shot at Malpractice Claim Against Law Firm

A Delaware insurance agency has won another chance at proving a law firm was negligent in defending it in a non-compete dispute with another agency, a dispute it ended up settling for $1.2 million. The Delaware Supreme Court has reversed …

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Munich Re Says Beating Target More Likely After Strong Quarter

Munich Re said it might beat its profit target for the year after first-quarter profit jumped amid benign expenditures to cover major losses and a strong investment result. Net income rose to about €2.1 billion ($2.2 billion) in the three …

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Markets/Coverages: Liberty Mutual Re, Safehub Offer Parametric Quake Re/Insurance

Liberty Mutual Reinsurance (LM Re), part of Liberty Mutual Insurance Group, has announced a partnership with Safehub, a technology provider in seismic sensor and risk management solutions to offer a market-first, building-specific, sensor-based, parametric earthquake re/insurance product to clients globally. …

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Musk Decries Australian Court ‘Censorship’ of X Terror Posts

Elon Musk lashed out at Australia’s prime minister on Tuesday after a court ordered his social media company X take down footage of an alleged terrorist attack in Sydney, and said the ruling meant any country could control “the entire …

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AIG General Insurance Chairman McElroy to Retire May 1

American International Group (AIG) today announced a top executive will retire in less than two weeks. David McElroy will retire from AIG on May 1. “Mr. McElroy has agreed with AIG to accelerate his retirement date for personal reasons and …

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Walgreens to Pay $110M to End Philadelphia Opioid Litigation

The city of Philadelphia has reached a $110 million settlement of its 2021 lawsuit against Walgreens pharmacy for the company’s role in supplying and perpetuating the opioid addiction crisis in Philadelphia. Under the terms of the agreement, Walgreens admits no …

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World’s Workers Increasingly at Risk as Climate Changes: Int’l Labour Organization

More than 70% of the global workforce is exposed to risks linked to climate change that cause hundreds of thousands of deaths each year, the International Labour Organization said on Monday, adding governments would need to act as the numbers …

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People Moves: Liberty Names Bernau as Senior Vice President, Commercial Lines Producer

The Liberty Company Insurance Brokers, headquartered in Gainesville, Florida, named Andrew Bernau senior vice president, commercial lines producer. Bernau is based in Chicago. Bernau has nearly 20 years of industry experience, beginning his career with a college internship. He most …

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Allstate Reports $731M in Q1 Pretax Catastrophe Losses

Allstate Corporation estimated pretax catastrophe losses of $731 million, with $328 million from the month of March. Six events contributed to the $343 million total for March — before favorable reserve re-estimates brought down the total. One hail event accounted …

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Liberty Mutual Insurance Continues Restructuring of Global Risk Solutions Unit

Liberty Mutual Insurance announced strategic updates in its ongoing restructuring of Global Risk Solutions (GRS), the company’s global commercial and specialty re/insurer and international insurance operations. The restructuring includes the creation of a new international insurance business division, the unification …

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UK Finance Watchdog Plans on Diversity Targets a ‘Bad Idea,’ Minister Says

Plans by Britain’s financial regulator to require firms to set targets for improving diversity could be counterproductive, UK business and women minister Kemi Badenoch said on Thursday. The Financial Conduct Authority (FCA) and the Bank of England’s Prudential Regulation Authority …

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United Airlines Says Boeing to Compensate for Damages Caused by MAX 9 Grounding

United Airlines will receive compensation from planemaker Boeing for financial damages incurred in the first quarter due to the grounding of 737 MAX 9 aircraft, the carrier said on Wednesday. U.S. regulators had in January grounded some Boeing 737 MAX …

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