Category: Insurance News
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Pending Home Sales Dip 1.0 Percent in February
(Washington, WA – Insurance News 360) – On March 28, the National Association of Realtors announced that pending home sales dropped by one percent during the month of February. The forward-looking Pending Home Sales Index dropped from 102.9 in January to 101.9 in February, marking the 14th straight month of annual decreases, as year-over-year contract…
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Lloyds reports 2018 aggregated market results
(London – Insurance News 360) – On March 27, Lloyd’s released the 2018 annual report, which announced an aggregated market loss of 1.0bn for 2018, which is half of what the aggregated market loss was in 2017. Other key figures to note are: An increase of £1.9bn in gross written premiums in 2018 (£35.5bn in…
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Lloyds of London commits to creation of safe, inclusive work environment.
(London – Insurance News 360) – On March 26, executives at Lloyds announced a robust plan of action to handle reports of sexual harassment in the market and create an inclusive working environment where employees feel safe. Working with the Lloyds Market Association, and the London and International Insurance Brokers Association, the Lloyd’s Board and…
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Two whistleblowers receive $50 million from SEC
(Washington D.C. – Insurance News 360) – On March 26, the Securities Exchange Commission announced $50 million in awards to two whistleblowers. One individual received the third largest award to date – $37 million. The second received a $13 million reward. “Whistleblowers like those being awarded today may be the source of ‘smoking gun’ evidence…
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HHS releases voluntary cybersecurity practices for health industry
(Washington, DC – Insurance News 360) – On Dec. 28, the Department of Health and Human Services (HHS) released the “Health Industry Cybersecurity Practices (HICP): Managing Threats and Protecting Patients” publication. The four volume publication, aims to provide voluntary cybersecurity practices to healthcare organizations of all types and sizes, ranging from local clinics to large…
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U.S. Department of Labor recovers $49,269 for employees after investigating overtime violations by Jacksonville, FL Company
(Jacksonville, FL – Insurance News 360) – Following an investigation by the U.S. Department of Labor Jacksonville-based Stone World Imports and Manufacturing, Inc. paid $49,269 in back wages to 21 employees. The investigation revealed that the company paid only straight time rates to employees, not overtime when warranted. The failure to pay time-and-a-half for hours…
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Edgar hacking case ends in charges by SEC
(Washington, DC – Insurance News 360) – On Jan. 15, the Securities and Exchange Commission charged nine individuals participating in a previously-disclosed scheme to hack the SEC’s EDGAR system to get non-public information for illegal trading. Those charged are an Ukranian hacker, six individuals in California, Ukraine, Russia and two entities. According to the SEC…
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Audit firm, partners charged for deficient audits
(Washington, DC – Insurance News 360) – On Dec. 21, the Securities and Exchange Commission filed settled charges against national audit firm Crowe LLP, two of its partners, and two partners of a now-defunct audit firm for their significant failures in audits of Corporate Resource Services Inc., which went bankrupt in 2015 after the discovery…
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U.S. Department of Commerce Finds Dumping and Countervailable Subsidization of Imports of Plastic Decorative Ribbon from China
(Washington, DC – Insurance News 360) – On Dec. 21, 2018, the U.S. Department of Commerce announced the final determinations in investigations into the antidumping duty and countervailing duty (CVD) of imports of plastic decorative ribbon from China. These investigations revealed that exporters sold plastic decorative ribbon at less than fair value in the United…
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Lloyd’s confirms 2019 targets for electronic placement mandate
(London, UK – Insurance News 360) – On Dec. 20, the Corporation of Lloyd’s confirmed 2019 targets for electronic placement. For the first quarter of 2019, syndicates must have written no less than 40 percent of risks with a recognised electronic placement system. The target will increase to 50 percent in the second quarter, when…