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Wells Fargo Says It’s Quitting Climate-Banking Group
Wells Fargo & Co. said it’s leaving the world’s biggest climate alliance for banks, in the latest sign that Wall Street is breaking away from such groups. The company said in a statement Friday that it ended its membership in …
POSTED DECEMBER 23, 2024 6:14 AM |
Losses From Crypto Hacks Jump to $2.2B in 2024, Report Says
Funds stolen by hacking cryptocurrency platforms surged 21% from a year ago to $2.2 billion in 2024, a report from blockchain analysis firm Chainalysis showed on Thursday. The hacking amount exceeded $1 billion for the fourth straight year and the …
POSTED DECEMBER 23, 2024 6:11 AM |
Cargo Theft Surges as Holiday Season Approaches, Verisk Says
Be on the lookout for Grinch-like characters hanging out at transportation hubs over the holidays. A CargoNet analysis of holiday-period theft data from the past five years shows a heightened risk during the Christmas and New Year periods. The days …
POSTED DECEMBER 23, 2024 6:05 AM |
Kentucky Supreme Court Overturns Escape Clause Meaning, Affirms Roof Collapse
Two Kentucky Supreme Court rulings handed down last week emphasize how important it can be to have clearly worded insurance policies, including exclusions and excess and escape clauses, particularly in high-dollar commercial coverage. In Motorists Mutual Insurance Co. vs. First …
POSTED DECEMBER 23, 2024 6:01 AM |
California Labor Commissioner Fines Luxury Resort $4.4M for Worker Recall violations
The Labor Commissioner’s Office fined the Maybourne Beverly Hills $4.4 million for violating California’s Worker Recall Law. The LCO issued the fine in response to the a luxury resort’s failure to rehire employees who were laid off during the COVID-19 …
POSTED DECEMBER 23, 2024 6:00 AM |
Military Contractor to Pay $426K for Using Foreign Parts in Products
A Vermont military contractor will pay nearly half a million dollars to settle allegations that it used some foreign-sourced materials in certain protective eyewear it sold when it was required to use all domestic parts, according to the office of …
POSTED DECEMBER 23, 2024 6:00 AM |
Hub Acquires Great Basin Insurance in Oregon
Hub International Ltd. acquired the assets of Great Basin Insurance Inc. Agency Partners Dana Loreman and Bill Gilmore Jr., and the Great Basin Insurance team, will join Hub Northwest. Great Basin Insurance will be referred to as Great Basin Insurance, …
POSTED DECEMBER 23, 2024 6:00 AM |
Global Warming Can’t Be Ignored, Montana’s Top Court Says, Upholding Landmark Climate Case
Montana’s Supreme Court upheld a landmark climate ruling that said the state was violating residents’ constitutional right to a clean environment by permitting oil, gas and coal projects without regard for global warming. The justices, in a 6-1 ruling, rejected …
POSTED DECEMBER 20, 2024 6:14 PM |
Chicago Restaurant Owners to Pay $125K in Overtime Back Wages
The U.S. Department of Labor obtained a consent judgment and order in the U.S. District Court for the Northern District of Illinois on Dec. 2, 2024, that requires D’Nuez Corp. and owners Antonio Rendon and Albino Rendon – operators of …
POSTED DECEMBER 20, 2024 5:47 PM |
Swiss Re’s Business Unit CEOs Share Views on Key Risk Themes of 2025
Social inflation will continue to be a top concern for insurers and reinsurers in 2025 with US liability claims increasing by 57% during the past decade and nuclear verdicts rising in frequency, said Swiss Re, pointing to jury awards above …
POSTED DECEMBER 20, 2024 4:41 PM |
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