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NEXT Insurance Announces Revolutionary New Offering, Generating Quotes in Seconds for LegalZoom Small Business Customers 0

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NEXT Insurance Announces Revolutionary New Offering, Generating Quotes in Seconds for LegalZoom Small Business Customers

Longstanding embedded partnership utilizes NEXT’s AI-powered platform & sophisticated underwriting for unprecedented time savings Palo Alto, CA (May 22, 2024) – Next Insurance, the leading digital InsurTech company transforming small business insurance, has unveiled a breakthrough technology-enabled solution designed to modernize the insurance experience. Building upon NEXT’s AI-powered proprietary platform and underwriting expertise, this new solution instantly generates accurate and customized insurance quotes, saving customers valuable time that would otherwise be spent on a lengthy application process. Available to various industries, including accountants, event planners, food trucks, and more, this offering utilizes a customer’s data from LegalZoom and other sources to provide that customer with a tailored quote in seconds, all presented natively within the LegalZoom user ecosystem. This solution leverages NEXT’s deep-rooted expertise and proficiency in data-driven underwriting, saving customers valuable time during the onboarding process. “NEXT is relentlessly pursuing innovation with our partners to develop streamlined, user-friendly digital solutions for small businesses,” said Eran Liron, Chief Strategy Officer of NEXT Insurance. “Like NEXT, LegalZoom recognizes the transformative power of technologies like AI, and how they can help empower customers. Our partnership is making insurance simpler and faster, so business owners can spend less time worrying about coverage and...

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JPMorgan to Pay Another $100M for Failing to Monitor Orders

“We self-identified the issue, significant remedial actions have been taken and others are underway; and we have not found any employee misconduct or harm to clients or the market in our review of the previously uncaptured data,” said the bank’s statement. “We do not expect any disruption of service to clients as a result of these resolutions.” In the settlement order, JPMorgan indicated that the surveillance gaps were resolved by 2023. The bank admitted to some of the CFTC’s allegations. In addition to the CFTC fine, JPMorgan agreed to hire an independent consultant to review the bank’s trade surveillance and fix any issues they find. In March, JPMorgan agreed to pay the Fed and OCC a total of more than $300 million to settle their investigations into the matter. As a condition of the OCC settlement, the bank wasn’t allowed to add new trading venues without receiving approval from that regulator. Copyright 2024 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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Caterpillar to Pay $800K Over Systemic Hiring Discrimination at Illinois Plant

Article 0 Comments Heavy equipment company Caterpillar has agreed to pay $800,000 to resolve allegations of systemic hiring discrimination against Black applicants at an Illinois plant, the U.S. Labor Department said on Tuesday. The money will cover back wages and interest to affected job applicants, and Caterpillar will offer jobs to 34 people the department deems are eligible to apply, the agency said in a statement. “The company also agreed to ensure its hiring policies and procedures are free from discrimination and provide training to all managers, supervisors, and other company officials who oversee hiring decisions,” it said. The case involved 60 Black people who applied for fabrication positions at the company’s Decatur facility from March 30, 2018 to March 30, 2020. Caterpillar has contracts to provide machinery to the U.S. Department of the Army and since 2018 has held more than $481 million in federal contracts, the department added. (Reporting by David Ljunggren; Editing by Richard Chang) Topics Talent Illinois Was this article valuable? Thank you! Please tell us what we can do to improve this article. Submit No Thanks Thank you! % of people found this article valuable. Please tell us what you liked about it. Submit No...

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Insurers Are Working to Shore Up the $2 Billion Carbon Offset Market

Article 0 Comments Data fraud, questionable accounting practices and intensified catastrophes are just some of the issues that have battered the voluntary carbon market. Those misfortunes have helped spur a new line of business: Insurance policies designed to de-risk credits that polluters buy to neutralize their climate impact. Whether insurance can help stabilize an industry under heavy scrutiny remains to be seen, though. Carbon credits are a financial instrument to help channel capital into projects that cut greenhouse gas emissions. Project developers sell credits equal to one ton of carbon dioxide reduced or avoided to polluters who want to cancel out emissions. But some projects — particularly forest projects — have been shown to benefit the climate much less than promised, often because the forests were not at risk of being cut down in the first place. In the latest sign of the fledgling insurance industry’s growth, Park City, Utah-based insurer Oka teamed up with Cloverly, a carbon trading platform, to offer insured credits earlier this year. Cloverly’s 300-strong corporate users can purchase a policy to go with carbon credits traded on its digital marketplace, not unlike how consumers can add an extended warranty while shopping for a new phone,...

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Contamination Fears Stoked by Water Leak at German Nuclear Site

Article 0 Comments Water is leaking into an underground nuclear waste facility in Germany creating fears about toxic contamination of groundwater and highlighting the legacy that the shuttered nuclear industry has left behind. The operator of the storage site says that salt water is entering deeper than before into the area close to where radioactive waste is kept. The Asse II facility — located less than an hour outside Wolfsburg, home of automaker Volkswagen AG — will be held to account by state lawmakers on Monday. The site is an old salt mine, with a crust that serves as a barrier to stop radiation from entering the environment. There are about 126,000 barrels of uranium, thorium, plutonium and other toxic materials stored there and the worry is that the leak could lead to groundwater contamination. It speaks to Germany’s fears about the safety of nuclear power which drove the nation to switch off its last three nuclear power stations last year. That decision was fueled by the Fukushima disaster and lead to a greater reliance on coal-fired power in the short-term. Environment minister Steffi Lemke said that she took the situation “very seriously” on Tuesday, adding that the recovery of...

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Carson Group Responds to Gulick Lawsuit, Denies Wrongful Firing

What You Need to Know Former Chief Marketing Officer Mary Kate Gulick sued the firm, saying it fired her after she complained about its handling of a sexual assault report. Carson group says it didn’t act with malice or indifference to Gulick’s rights. The firm says that Microsoft Teams messages from now-CEO Burt White included in the lawsuit are written documents that speak for themselves. Carson Group responded Thursday to a lawsuit by former Chief Marketing Officer Mary Kate Gulick, defending itself against allegations that the firm fired her after she complained about its “toxic” culture and handling of an alleged sexual assault of a conference attendee by an employee.  The firm denied that it unlawfully discriminated and retaliated against Gulick and wrongly fired her in violation of various federal and state laws. But it also admitted to certain facts outlined in Gulick’s lawsuit, while disputing many of the key allegations made in the case. Among specific points, Carson denied that its executives subjected Gulick to demeaning comments about her inability to “get over” a Carson employee’s alleged sexual assault of an attendee at a 2022 conference, and that it fired her because she didn’t seem happy or to be “having fun.”...

New data shows severity of Canada’s worsening auto theft crisis 0

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New data shows severity of Canada’s worsening auto theft crisis

Vehicle theft insurance claims top $1.5 billion in 2023 Toronto, ON (May 16, 2024) – Canada’s auto theft crisis is showing no signs of slowing down, according to new data released by Insurance Bureau of Canada (IBC). In 2023, the cost of insurance claims for replacing stolen vehicles in Canada skyrocketed to a record-breaking $1.5 billion. This marks the second year in a row auto theft claims costs have topped $1 billion. To put this into perspective, between 2018 and 2021, auto theft claims costs averaged $556 million annually. “These numbers indicate that the auto theft crisis persists, disrupting the lives of Canadians and causing them concern and trauma. It places a heavy burden on law enforcement and courtroom personnel who work tirelessly to address these crimes,” said Liam McGuinty, Vice-President, Strategy, IBC. “Canada’s auto theft crisis is also placing pressure on drivers’ insurance premiums – as auto theft continues to increase, so do the associated costs. Auto theft is not a victimless crime.” Between 2018 and 2023, auto theft claims costs have increased significantly across the country: Nationally, auto theft claims costs increased by 254%. In 2023, auto theft losses amounted to over $1.5 billion, an increase of nearly...

Accident Support Services International Opens New Collision Reporting Centre in Leduc, Alberta 0

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Accident Support Services International Opens New Collision Reporting Centre in Leduc, Alberta

Toronto, ON (May 16, 2024) – Accident Support Services International Ltd. (ASSI), facilitators of Collision Reporting Centres, is excited to announce the opening of its newest Collision Reporting Centre (CRC) in Leduc. The Leduc CRC will be located in Unit 1, at 4119 50 St. in Leduc and will operate from Monday through Friday 8:30 a.m. to 4:30 p.m. The grand opening took place on Wednesday, May 15, 2024 at 11:00 a.m. ASSI has provided superior customer service to citizens for the last 30 years; with the goal to facilitate an active partnership between police and insurers in post-collision care by providing knowledgeable advice and assistance to those involved in collisions. Participation in the CRC program allows police services to reallocate officers from collision reporting to higher-priority calls for service. Collision reporting is moved from the side of the road to a safe and comfortable location for citizens, preventing possible secondary collisions and injuries. Police services also gain valuable insight into traffic patterns and high-risk locations through our powerful analytics tools, allowing them to be proactive in their response and potentially preventing collisions before they can happen. Supporting insurers fund the program; there is no cost to the police or...

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New Cars in California Could Alert Drivers for Breaking The Speed Limit

Article 0 Comments California could eventually join the European Union in requiring all new cars to alert drivers when they break the speed limit, a proposal aimed at reducing traffic deaths that would likely impact motorists across the country should it become law. The federal government sets safety standards for vehicles nationwide, which is why most cars now beep at drivers if their seat belt isn’t fastened. A bill in the California Legislature — which passed its first vote in the state Senate on Tuesday — would go further by requiring all new cars sold in the state by 2032 to beep at drivers when they exceed the speed limit by at least 10 mph. “Research has shown that this does have an impact in getting people to slow down, particularly since some people don’t realize how fast that their car is going,” said state Sen. Scott Wiener, a Democrat from San Francisco and the bill’s author. The bill narrowly passed on Tuesday, an indication of the tough road it could face. Republican state Sen. Brian Dahle said he voted against it in part because he said sometimes people need to drive faster than the speed limit in an emergency....

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Schwab Defends App Bashed as Clunky by Some Former Ameritrade Clients

The complaints about change don’t tend to be about the thinkorswim trading platform, which came with the Ameritrade acquisition, since there wasn’t a change there, he explained.  “It tends to be about the mobile app, because the mobile app is what many TDA clients use who don’t use thinkorswim, and they’re going from one experience, TDA mobile, to Schwab mobile,” Craig said, comparing the situation to to a BMW driver waking up one day and finding a Mercedes in the garage and having difficulty figuring out where things are at first. Craig also explained that “what Schwab does is far more significant from a capability standpoint than what Ameritrade did. So as you’d expect, our app, our web experiences are more comprehensive. We’re also a lot larger.” Some former Ameritrade clients ask why Schwab doesn’t just use the Ameritrade app, Craig noted, saying there are many reasons. If Schwab did that, “we’d have three times as many complaints on the blue (or Schwab) side.” Prior to conversions, Schwab’s app and mobile experiences were rated highly, either at par with or better than those of TD Ameritrade, he added. “We’re getting a very, very small number of complaints,” he said. ”They tend...