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Industry News

East Coast’s Insured Loss From Tropical Storm Fay to Tally Near $400 Million: KCC

The insured loss from Tropical Storm Fay will be close to $400 million, according to catastrophe risk modeling firm Karen Clark & Company (KCC). KCC said its estimate includes the privately insured wind and storm surge damage to residential, commercial …
UK Watchdog Urges Big 4 Accounting Firms to Challenge Clients as Audit Quality Slides

The dominant accounting firms must do a better job of challenging their clients in order to reach a satisfactory level of audit quality, the industry’s UK watchdog said. The so-called Big Four — KPMG, Deloitte, Ernst & Young and PricewaterhouseCoopers …
West African Coast Re-Emerges as Hotspot for Piracy, Kidnappings: Allianz

The West African coast has overtaken Southeast Asia as the worst area for piracy and kidnappings reported at sea last year, with the number of seafarers seized rising by more than 50%, according to a study. The area, known as …
The Liberty Company Insurance Brokers Adds Kramer in Atlanta

The Liberty Company Insurance Brokers has hired William Kramer to the firm’s Employee Benefits Division. Kramer has been in the insurance industry for over 20 years working on both the retail and carrier side with companies such as Starmount Life, …
Mississippi Mandates Masks in Parts of State as it Sees ‘Worst’ of COVID-19 Spread

A mask mandate and other restrictions took effect Monday in 13 of Mississippi’s 82 counties as the state continues to see a rapid increase in cases of the new coronavirus, including a steady rise in hospital patients. “This is the …
Safety Probe Cites Mistakes by First Officer, Pilot in 2019 Amazon Cargo Plane Crash

The U.S. National Transportation Safety Board (NTSB) cited cockpit mistakes by the first officer and pilot in a February 2019 fatal crash of an Atlas Air cargo plane. The Atlas Air Boeing 767 jet transporting cargo for Amazon.com Inc. and …
Federal Judge Rejects Weinstein’s $18.9 Million Sex-Abuse Settlement

A federal judge won’t give preliminary approval to a proposed $18.9 million settlement between Harvey Weinstein and nine women who claim he sexually assaulted or abused them, saying the tentative deal isn’t fair to other women. U.S. District Judge Alvin …
Damage Analysis of 2017-2018 California Wildfires Keys on Mitigation

New findings point to need for home improvements that resist embers, the cause of up to 90 percent of wildfire ignitions Researchers identified key factors influencing the survivability of structures during a wildfire after surveying the devastation in Paradise, Calif. …
How Coronavirus Pandemic Has Disrupted Both Millennials and Boomers

Millennials, are taking a big hit — again. And boomers are not OK, either. Sometimes at odds, America’s two largest generations now have something to agree on: The coronavirus pandemic has smacked many of them at a pivotal time in …
Massachusetts Sues Uber, Lyft to Classify Drivers as Employees

Massachusetts on Tuesday followed California in suing Uber Technologies Inc and Lyft Inc. over allegedly misclassifying their drivers as independent contractors instead of employees entitled to extensive benefits. The complaint filed in Suffolk Superior Court claims Uber and Lyft violate …

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