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Business Interruption Cyber Risks Demand More Insurer Attention as 5G Dawns

Business interruption cyber risks demand more attention from insurers as globalization continues to worsen their impact, a panel of experts argued recently. BI coverage has drawn heightened attention in recent months due to the coronavirus pandemic and its ongoing disruption …

BP Evacuates Staff from 4 Gulf of Mexico Oil Platforms as Tropical Storm Zeta Intensifies

BP on Sunday said it has begun to evacuate four offshore U.S. Gulf of Mexico oil platforms and secure facilities as Tropical Storm Zeta sprang up in the Caribbean Sea. The 27th named storm of this year’s Atlantic Hurricane season, …

Remote Workforce to Double in 2021 Due to Improved Productivity: CIO Survey

The percentage of workers around the world that is permanently working from home is expected to double in 2021 as productivity has increased during the coronavirus pandemic, according to a survey from U.S.-based Enterprise Technology Research (ETR). ETR in September …

Mining Giants BHP, Vale Accused of Colluding to Cut Payouts to Victims of Dam Collapse

Brazilian federal prosecutors have accused mining giants BHP and Vale of colluding with a lawyer to reduce compensation for victims of a fatal dam collapse and interfere with a landmark lawsuit against BHP in the UK. A mining waste dam …

Big Tech Lobby Seeks EU Liability Cover to Tackle Hate Speech, Illegal Content

Big technology platforms are calling on the European Union to protect them from legal liabilities for removing hate speech and illegal content as government scrutiny over how platforms manage user posts grows worldwide. A safeguard protecting companies that actively manage …

Australia’s Westpac Takes A$1.2B Charge Against Q2 Earnings for Laundering, Refunds

Westpac Banking Corp. has taken a A$1.2 billion ($871 million) charge against second-half earnings to cover a record money-laundering fine and the mounting cost of compensating customers for years of misconduct. The charge is the latest blow to Australia’s oldest …

More Companies Turn to Captives as Rates Rise, Terms & Conditions Tighten

Fed up with rising prices and more stringent terms and conditions for their insurance policies as a result of the coronavirus pandemic, companies are turning to in-house insurance firms. These so-called “captive” insurers are already common among large firms, with …

Scott Benefit Services Expands Senior Living Practice in Southeast

Scott Benefit Services, a division of Scott Insurance, will expand its Senior Living Practice into additional markets in the Southeast region. The Senior Living Practice, led by Pim Jager, vice president and branch leader of the agency’s Richmond, Va. office, …

Scientists Identify Nuclear Plants Facing Highest Risks From Earthquakes

The U.S. nuclear power reactors facing the highest risks of a meltdown from earthquakes are not in tremor-prone California, but states including South Carolina and Missouri, an analysis of government data published on Thursday said. The chances of an earthquake …

McDonald’s Seeks Dismissal of Racial Bias Claims by Black Former Franchise Owners

McDonald’s Corp. on Friday urged a U.S. judge to dismiss a lawsuit by dozens of Black former franchise owners who accused the fast-food giant of racial discrimination for selling them underperforming stores, saying it did not want them to fail …

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