Bob Shaw glared at the executives from the chemical giant 3M across the table from him. He held up a carpet sample and pointed at the logo for Scotchgard on the back. “That’s not a logo,” fumed Shaw, CEO of the world’s largest carpet company, one attendee later recalled. “That’s a target.” Weeks earlier, 3M Company announced it would reformulate its signature stain-resistance brand under pressure from the Environmental Protection Agency because of human health and environmental concerns. Mills like Shaw’s had been using Scotchgard in carpet production, releasing its chemical ingredients into the environment for decades. And on a…
Author: Awais
Key Takeaways In the weeks following the Trump administration’s announcement of changes to the recommended childhood vaccine schedule, the public’s trust in the CDC remains at its lowest point since the COVID-19 pandemic, including a 9-percentage point drop among Democrats in recent months saying they trust the CDC for reliable vaccine information. Just over half (55%) of Democrats and fewer Republicans (43%) and independents (46%) now say they trust the agency for vaccine information. In addition, fewer than half of adults (44%) express confidence in U.S. federal health agencies to make recommendations about the childhood vaccine schedule. Among the half…
A federal judge in Missouri on Thursday dismissed a lawsuit by the Republican-led state accusing Starbucks SBUX.O of using its commitment to diversity, equity and inclusion as a pretext to systematically discriminate based on race, gender and sexual orientation. U.S. District Judge John Ross in St. Louis said failed to prove that Starbucks actually discriminated against “even a single Missouri resident” who worked at Starbucks or applied for a job there. Ross was appointed by then-President Barack Obama, a Democrat. The office of Missouri Attorney General Catherine Hanaway, a Republican, alleged that Starbucks had unlawfully tied executive pay to the…
Fraud investigations in two Southeastern states have led to the arrest or administrative leave for three public safety officers. In Alabama, two University of Alabama at Birmingham police officers have been placed on leave in connection with an investigation into stolen vehicles, according to local news reports. The investigation is examining the use of National Crime Information Center system to steal vehicles and take them to “chop shops” – illegal shops where cars are stripped and sold for parts, WBMA TV and WVTM TV news reported. The university confirmed in a statement that the officers had been placed on leave,…
Under 23 CAR pt 146, AID says issuers that utilise a pharmacy benefit manager (PBM) must submit an annual pharmacy network adequacy filing, due March 1 of each year, or the next business day if March 1 falls on a weekend or state holiday. AID adds that data for the prior calendar year must be reported in the subsequent year, giving the example that data covering January 1, 2025, through December 31, 2025 must be submitted no later than March 1, 2026.
Allstate posted significantly higher net and underwriting income for the fourth quarter and full year. With affordability top of mind, that leads to questions about excessive profits. Similar to Chubb’s earnings call, analysts asked Allstate CEO Tom Wilson to comment on the potential of extra attention from regulators. Some states have excess-profit laws. Related: Allstate Doubles Q4 Net Income While Auto Underwriting Income Triples Tom Wilson A realization of the issue may have led Wilson to begin a statement on the insurer’s latest earnings with that fact that premiums were reduced for 7.8 million Allstate auto and homeowners customers by…
On February 4, Missouri’s Department of Commerce and Insurance (Missouri DCI) issued Insurance Bulletin 26-03, reminding insurers doing business in Missouri that they must annually report certain aspects of their business. It directs readers to Appendix A and the Missouri DCI website for statutory authority, filing deadlines and detailed instructions.
A Louisiana insurance agency has been ordered to pay $1.2 million in premium refunds for overcharging fraudulent fees on commercial surety bond policies. The Louisiana Department of Insurance announced that Alexander Ellsworth and his agency, Ellsworth Corporation, will pay a $250,000 fine in addition to the premium repayments. The $250,000 fine is the maximum allowed by Louisiana law. Ellsworth Corporation illegally overcharged a construction company $284,000 in excess of quoted premiums for surety bonds, according to a 2023 cease-and-desist letter. “Construction companies require commercial surety bonds before beginning construction projects and rely on licensed agents to lawfully and fairly handle…
Billionaire Rick Caruso is sticking with his decision to stay out of the race for Los Angeles mayor, despite raising the prospect he would reconsider following a news report that Mayor Karen Bass asked to soften an after-action investigation into last year’s deadly wildfires. “Rick is incredibly moved by the outpouring of support but reached an earlier decision in a thoughtful process and it stands,” a spokesperson said in emailed message Thursday, a day after Caruso said he was considering entering the race. “He will not be a candidate for mayor.” Bass’s re-election bid has faced renewed scrutiny following the…
McGowan Allied Specialty Insurance announced a strategic realignment of sales territories within its in-house team designed to enhance services, improve regional coverage, and ensure a more tailored experience for clients across the country. The Ohio-based company said that by reallocating territories among its sales producers, it is strengthening its ability to “respond efficiently to client needs while maintaining deep knowledge of regional markets.” The newly assigned territories are now in effect, the company said. MASI provides entertainment and amusement insurance solutions for amusement parks, waterparks and family entertainment centers.. Topics Excess Surplus New Markets Was this article valuable? Yes No…
NFP Appoints Spencer as SVP, Commercial Risk, Northeast Jack Spencer NFP, an Aon company and property/casualty broker and benefits consultant headquartered in New York City, appointed Jack Spencer as senior vice president, commercial risk, in its Northeast region. Based in West Hartford, Connecticut, Spencer has a decade of experience in commercial risk insurance in the New York City metro area at Arch Insurance Group Inc., where he held several positions, most recently vice president, alternative markets. He led two of Arch’s largest casualty group captives while writing several lines, including workers’ compensation, general liability and auto liability/auto physical damage in…
The 2025 reconciliation law made historic cuts to federal support for health care, including an estimated $911 billion in cuts to federal Medicaid spending, as well as additional reductions in the Affordable Care Act (ACA) marketplaces. As the proposed law moved through Congress, lawmakers expressed concern about the potential effects of those cuts on rural areas. KFF estimated that the reductions to Medicaid alone could be $137 billion over ten years in rural areas. To address those concerns, Congress added $50 billion in funding over a five-year period for a Rural Health Transformation Program (referred to here as the “rural…
Insurance broker WTW reported fourth quarter revenue of $2.94 billion, a decrease of 3% compared to $3.04 billion for the same period in the prior year due to the sale of TRANZACT. Q4 2025 organic revenue growth was 6%, while the FY 2025 saw 5% organic growth, compared with 5% for both Q4 and FY 2024. Net Income for the fourth quarter of 2025 was $736 million compared to $1.25 billion in the prior-year fourth quarter, a decrease of 41%. WTW reported FY revenue of $9.71 billion, a decrease of 2% compared to $9.93 billion for the prior year as…
A natural gas pipeline connecting to the proposed Delfin LNG project located offshore in southwestern Louisiana exploded Tuesday, according to the local emergency preparedness office. The blast on the 28-mile pipeline occurred while operators were performing routine maintenance, said Ashley Buller, assistant director at the Cameron Parish Office of Emergency Preparedness. Operators shut gas flows on the pipeline immediately after the explosion and had to flare the remaining fuel left between the valve and the point of the explosion, Buller said. One pipeline operator was injured, Buller said. Delfin Midstream, which owns the pipeline, could not immediately be reached for…