BlackRock Agrees to $300M Loan for Root Insurance

Days after it announced it had to lay off 330 employees due to worsening loss costs, auto insurer Root Insurance has finalized a $300 million term loan from BlackRock Financial Management. The five-year loan will carry an interest rate of …

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UK Business Closures Jump 14% as Pandemic Takes Brutal Toll on Small Firms

Business closures in the UK jumped by 14% from a year ago in the fourth quarter as the coronavirus pandemic took a brutal toll. Almost every industrial group saw the number of closures rise, with the transport and storage sector …

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Generali to Raise Stake in Indian P/C Insurance Joint Venture to 74%

Generali has agreed to become the majority shareholder in both its property/casualty and life joint ventures in India. For the P/C business, Generali has agreed to acquire 25% of the shares of Future Generali India Insurance (FGII) from Future Enterprises …

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AllianzGI Creates Unit Focused on Investing in Companies With Measurable ESG Impact

Asset manager Allianz Global Investors, part of German insurer Allianz, said on Wednesday it had set up a new unit focused on “impact” investing in private markets, as part of a sustainable investing drive. AllianzGI, which manages around 647 billion …

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Generali Loses Third Board Director in Less Than 2 Weeks

Italy’s biggest insurer Generali said on Tuesday Sabrina Pucci had resigned from its board for personal reasons, the third director to step down in less than two weeks. Generali’s second-largest shareholder Francesco Gaetano Caltagirone quit the board on Jan. 13, …

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Louisiana Court Disbars Attorney Who Allegedly Mishandled Client’s Claim Case

The Louisiana Supreme Court has disbarred a Lafayette attorney accused of failing to properly handle a client’s case, then lying to investigators about it. Brad Thomas Andrus was formally disbarred, ordered to pay investigation costs and must participate in a …

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Mother of Kansas City Woman Killed in Firetruck Crash Sues

The mother of a woman who died when she was hit by a firetruck in Kansas City last month has filed a wrongful death lawsuit against the city, the fire department and the fire truck’s driver. Judy Holland, the mother …

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Owners of High-End London Restaurants Sue AXA Over Failure to Pay COVID Claims

The owners of high-end London restaurants The Wolseley and The Delaunay sued AXA Insurance UK Plc for as much as 4 million pounds ($5.4 million) over its failure to pay out on claims linked to the coronavirus lockdowns. Lawyers for …

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Missouri Governor Aims to Create New Flood Response Agency

Missouri Gov. Mike Parson wants to spend $10.4 million to create a new office that would help the state better prepare for floods and drought. Missouri Department of Natural Resources spokeswoman Connie Patterson told the St. Louis Post-Dispatch that creating …

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UAE Bans Flying of Recreational Drones After Fatal Attack on Oil Facility

DUBAI, United Arab Emirates (AP) – The United Arab Emirates has banned the flying of drones in the country for recreation after Yemen’s Houthi rebels claimed a fatal drone attack on an oil facility and major airport in the country. …

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Terrebonne, Louisiana Levee System to Get $379 Million in Federal Money

A levee system that protects Terrebonne and parts of Lafourche from Gulf of Mexico hurricanes will receive $379 million in federal money from the infrastructure bill passed by Congress, officials said Jan. 19. U.S. Sen. Bill Cassidy, R-La., said the …

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Illinois Pizza Manufacturer Faces $145K in Fines After Worker Fatality

An Illinois pizza manufacturer could be forced to pay $145,000 in penalties after a worker suffered a fatal injury while cleaning a machine in July 2021. A U.S. Department of Labor Occupational Safety and Health Administration inspection found that Rich …

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Maine College Settles with Female Coaches on Pay, Treatment

Attorneys for a Maine college and five female athletics coaches said Friday they have reached a settlement stemming from a lawsuit over fair pay and working conditions. Lawyers representing Colby College and the coaches released a joint statement that said …

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Ford Motor, ADT $105M Joint Venture Targets Vehicle Security Systems

Ford Motor Co. and ADT Inc. have launched a $105 million joint venture, Canopy, to develop and market in-vehicle security systems for commercial and retail customers, the companies said. The first standalone systems, due in about 12 months, will employ …

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VW Pays $3.5M to Settle Diesel Emissions Claims with Ohio

Volkswagen AG agreed to a $3.5 million settlement with Ohio over claims the German automaker violated state laws by manipulating vehicle computer software in its vehicles to mask carbon dioxide emissions, the state attorney general said. In November, the U.S. …

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Sarah Palin’s Defamation Trial Against New York Times Opens

Palin, the former Alaska governor and 2008 Republican vice presidential nominee, has spent 4-1/2 years battling the New York Times over an editorial she said falsely linked her to a deadly Arizona mass shooting that left a U.S. congresswoman seriously …

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New Hampshire Opioid Trial Against Johnson & Johnson Delayed Until September

New Hampshire has postponed a pending trial against drugmaker Johnson & Johnson over opioid distribution and marketing from February to September because of COVID-19 concerns. The state of New Hampshire was scheduled to face a jury trial on Feb. 2 …

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Recent Storm Caused More Erosion to New Jersey Beach

The weekend storm that brought rain and snow to much of New Jersey also caused significant erosion to a Jersey Shore beach that was already in the process of being widened. Now, federal and state officials are trying to determine …

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UK Hospitality Groups Are Back in Court With Insurers Over Lockdown Losses

Some of the world’s biggest insurers are bracing as a second wave of multi-million-pound lawsuits, brought by struggling British pubs, restaurants and bakery chains over lockdown losses, starts hitting London’s courts next week. Zurich, MS Amlin, Liberty Mutual, Allianz and …

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Muñiz Named GC&C’s Head of Construction & Green Energy; Gallagher Re Hires Hiscox’s Kim for Cyber; Chubb Promotes Kropp to Global Head of Operations and Technology

This edition of International People Moves details appointments at Generali Global Corporate & Commercial (GC&C), Gallagher Re and Chubb. A summary of these new hires follows here. Muñiz Named GC&C’s Head of Construction & Green Energy Generali Global Corporate & …

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