Wells Fargo Advisors fined for anti-money laundering lapses – Business Insurance

(Reuters) – The US Securities and Exchange Commission said on Friday that Wells Fargo Advisors had agreed to pay $ 7 million to settle allegations of anti-money laundering. The regulator said Wells Fargo Advisors failed to submit at least 34 timely reports of suspicious activity between April 2017 and October 2021. The default occurred because … Read more

Cincinnati wins COVID-related ruling against recreational park – Business Insurance

A federal appeals court ruled Friday against a recreational park in Covid-19-related business interruption lawsuits brought against Cincinnati Insurance Co. Renaissance, which owns and operates Fun Park, a recreational facility in Louisville, Kentucky that includes go-karts, laser tag, miniature golf and arcade games, closed its park for three months to comply with Kentucky’s closure order … Read more

Court puts sales ban on Ford’s internet-linked cars in patent dispute – Business Insurance

(Reuters) – A German court has imposed a nationwide ban on the sale and production of Ford cars that can establish internet connection, it said, as part of a lawsuit over wireless technology patents. The judgment of the Munich Regional Court is not legally binding and can still be appealed, it said, adding a security … Read more

Accretive hires executive VP, wholesale – Business Insurance

Accretive Insurance Solutions, AssuredPartners Inc.’s specialized wholesale and software management company, said Friday that it has appointed former ECC Insurance Brokers LLC CEO Rob Roth as vice president of wholesale. Mr. Roth was previously president of Oakbrook Terrace, Illinois-based ECC, a wholesale broker specializing in management, professional and cyber-responsible placements, Accretive said in a statement. … Read more

Google ‘private browsing’ mode not really private: Texas suit – Business Insurance

(Reuters) – Google’s search engine collects data about users who believe they may be anonymous if they use a “private browsing” mode, Texas Attorney General Ken Paxton said on Thursday, filing an amended privacy lawsuit against Alphabet Inc.. Texas, Indiana, Washington State and the District of Columbia filed separate lawsuits against Google in January in … Read more

Putin promises to bolster Russia’s IT security in face of cyberattacks – Business Insurance

(Reuters) – President Vladimir Putin said on Friday that the number of cyberattacks against Russia from foreign “state structures” had increased several times over and that Russia needed to strengthen its cyber defense by reducing the use of foreign software and hardware. The websites of many state-owned companies and news sites have been hit by … Read more

MGA Fusion Specialty unveils M&A insurance online – Business Insurance

CEO of Fusion Specialty Insurance Pty Ltd. said on Thursday that they have introduced online merger and acquisition insurance in the United States for small and medium-sized businesses. Fusion Americas will offer coverage for small to medium M&A transactions with limits of up to $ 10 million available. The capacity is provided by various insurance … Read more

Newfront hires from Marsh unit – Business Insurance

Newfront Insurance Inc. said on Thursday that it had hired former Marsh McLennan Agency Rector Jeff Simpson as senior vice president. San Diego-based Mr. Simpson, which joined the Marsh LLC unit through its 2014 acquisition of Barney & Barney LLC, will focus on companies in the technology, life sciences, non-profit and manufacturing sectors, a statement … Read more

Chubb shareholders reject limitations on insuring fossil fuel firms – Business Insurance

The shareholders of Chubb Ltd. rejected on Thursday a proposal that would have limited the insurer’s ability to take out new fossil fuels but approved a proposal that requires the company to produce a report on greenhouse gases in connection with its insurance and investment activities. The company’s board had recommended that shareholders reject both … Read more