The U.S. Federal Trade Commission approved a roughly $5 billion settlement with Facebook Inc this week over its investigation into the social media company’s handling of user data, a source familiar with the situation said on Friday. The FTC has …
A proposal to prevent big technology companies from functioning as financial institutions or issuing digital currencies has been circulated for discussion by the Democratic majority that leads the House Financial Services Committee, according to a copy of the draft legislation …
Motorists Insurance Group and BrickStreet Mutual Insurance Co. are now Encova Mutual Insurance Group following the announcement of the new brand name and identity for their joint venture. Columbus, Ohio-based property/casualty insurer Motorists and Charleston, West Virginia-based workers’ compensation insurer …
The U.S. government is growing the largest crop of research marijuana in five years, responding to interest in varieties with high levels of THC and CBD. The government is the only source of pot for nearly all research in the …
Use of transactional risk insurance significantly increased in 2018. Policy limits in excess of $1 billion are now available for single transactions as private equity firms and strategic investors increasingly use insurance to reduce the risks associated with mergers and …
Markel Corporation has added a standalone employment practices liability policy customized for professional employer organizations (PEOs) to its management liability suite of products. The new policy is a modular product providing liability coverage for PEOs and their customers with separate …
Facebook Inc.’s foray into digital currencies risks reversing gains in privacy and user sovereignty won by computer-networking pioneers, according to one of the co-founders of Ethereum, the blockchain of choice for most business and finance projects. Facebook has received pushback …
Insurance carrier review platform Clearsurance has launched a new home, car and renters insurance recommendation service for consumers. Clearsurance says the new data-driven service provides “personalized, conflict-free” insurance recommendations while also protecting users’ data by removing it after the user …
Global broker Aon has promoted Aon veteran Tim Ronda to president of its U.S. Reinsurance Solutions business. He is based in New York. As president, he succeeds George deMenocal, CEO of U.S. Reinsurance Solutions, who has also been serving as …
DNA-testing service Vitagene Inc. left thousands of client health reports exposed online for years, the kind of incident that privacy advocates have warned about as gene testing has become increasingly popular. More than 3,000 user files remained accessible to the …
