Monthly Archives: <span>March 2021</span>

Alaska Companies Fined for Asbestos Violations

A man and two companies in Alaska have been sentenced to three years probation and a $35,000 fine for violating the Clean Air Act involving asbestos work at a shopping center more than five years ago, a judge said. The …

Reuters Exclusive: India Central Bank Seeks Limit on Banks’ Ownership in Insurers

India’s central bank wants banks to limit ownership stakes in capital intensive insurance companies at a maximum 20%, less than half of what the current regulations permit, three sources with knowledge of the discussions told Reuters. Reserve Bank of India …

Florida’s TypTap Attracts $100M to Expand Nationally in Flood, Homeowners Insurance

TypTap, a five-year old Florida-based writer of private market homeowners and flood insurance, has attracted $100 million in financing from investment firm Centerbridge Partners. The company plans to use the money to expand nationally. TypTap said it has obtained regulatory …

Two Massachusetts Men Charged Following Fatal Motorcycle Crash in New Hampshire

Two Massachusetts men were charged in federal court in Springfield in connection with falsifying driving logs, instructing others to do so and making a false statement to investigators. The charges are the result of a review of Westfield Transport Inc. …

Bookkeeper Sentenced for Stealing $1.5M From Two Employers

A bookkeeper has been sentenced to nearly six years in prison for embezzling more than $1.5 million from two employers, federal prosecutors said. Jessica Greenan, 42, of Barnstable, embezzled more than $1.1 million from a Cape Cod store from October …

Brothers Say They Set Fire in Philadelphia That Badly Damaged Stores, Homes

Two brothers admitted in court Thursday to setting fire to their hookah lounge as they struggled with business losses, causing more than $20 million in damages to a retail block in Philadelphia’s historic area. Federal prosecutors say 32-year-old Imad Dawara, …

Google to Offer Cyber Insurance From Allianz, Munich Re to Cloud Users

Google is teaming up with two global insurers to cover cyber breaches and related risks for businesses that use its cloud services, the first time a major provider has opened up such insurance to its clients, the companies said on …

Reinsurers Saw ‘Good’ Rate Hikes in January Renewals, but Will Be Asking for More: S&P

Global property and casualty reinsurers saw “good” rate increases during the January 2021 renewals but they came up short of a hard market, dashing reinsurers’ hope of a strong start for 2021, according to a report from S&P Global Ratings. …

Post-Brexit Exodus of Staff and Assets from London to EU Slows

LONDON – The shift in financial staff and assets from the City of London to the European Union because of Brexit has eased after Britain completed its full departure from the bloc, a tracker from consultants EY showed on Tuesday. …

Supreme Court Justices Question Patent Tribunal’s Constitutionality

U.S. Supreme Court justices on Monday signaled they may rein in the power of in-house judges serving on a U.S. Patent and Trademark Office tribunal who have the ability to cancel patents in a case involving a dispute between surgical …