In a significant turn of events, Ohio State University has made the decision to roll back salary increases for 306 of its employees. This action comes in the wake of a Texas federal judge overturning the U.S. Department of Labor’s expanded overtime rule. Initially, this rule had raised the overtime eligibility threshold to $43,888 as of July 1, 2024, and
The U.S. Department of Labor (DOL) has proposed a rule aimed at phasing out the issuance of subminimum wage certificates for workers with disabilities over a three-year period, which would put an end to Section 14(c) subminimum wage practices. Under the current Fair Labor Standards Act, employers can pay wages below the minimum rate to workers whose disabilities affect their
Urban Jungle, an innovative insurtech company, has launched a new branding strategy dubbed ‘Fair to you, your wallet, and the planet’. This rebranding underscores the company’s unwavering commitment to providing straightforward and affordable insurance while adhering to rigorous ethical standards. Leveraging cutting-edge technology like AI and machine learning, Urban Jungle is revolutionizing the insurance landscape by making it both accessible
The insurance industry is experiencing a radical transformation fueled by technological advances and evolving customer expectations. At the epicenter of this change is the concept of Insurance-as-a-Platform (IaaP), an innovative model that redefines how insurance products are designed and delivered. Unlike traditional methods that emphasize standardization, IaaP offers unparalleled levels of personalization and flexibility, making it a game-changer in the
In a strategic move set to significantly enhance its embedded insurance services, HUB International recently announced that it would acquire Insuritas, an embedded insurance platform that primarily targets banks and credit unions. The acquisition will bolster HUB’s existing digital platform, VIU by HUB, which was launched in June 2022. Initially focused on personal insurance, VIU has since expanded its offerings
The insurtech company Jove has recently made headlines by securing £3.6 million in a seed funding round, aiming to revolutionize contractor insurance with advanced solutions tailored for contractors and small businesses. The seed round was spearheaded by Explorer Investments and included support from various prominent venture capital firms like Seed X, Love Ventures, Portfolio Ventures, New Alpha Asset Management, Exceptional
In Australia, a significant issue is coming to the forefront regarding financial security and the accessibility of financial advice. Recent research paints a troubling picture of the disparity between the insurance coverage of material possessions, such as cars and homes, compared to personal protection through life insurance. Insights from the Council of Australian Life Insurers (CALI) indicate that while almost
In an effort to combat the exploitation of migrant workers, the UK government is holding employers accountable for violations that harm immigrant employees by enforcing new measures. This initiative specifically targets employers who repeatedly ignore visa regulations or fail to uphold essential employment standards. Introduction of Stricter Penalties Central to these measures is the introduction of a rule that will
In a move that underscores ongoing debates about worker compensation, the U.S. Department of Labor (DOL) has recently appealed a pivotal decision by Judge Sean Jordan of the U.S. District Court for the Eastern District of Texas. The judge had ruled against the DOL’s latest final rule aimed at expanding overtime pay eligibility under the Fair Labor Standards Act (FLSA).
The National Labor Relations Board (NLRB) has made a groundbreaking decision to prohibit employers from holding mandatory meetings, known as captive-audience meetings, to express anti-union views during an organizing campaign. This decision overturns a 76-year-old precedent, Babcock & Wilcox, which had previously allowed such meetings. The NLRB argues that these meetings violate Section 8(a)(1) of the National Labor Relations Act
Arthur J. Gallagher & Co.’s recent acquisition of Shepard Insurance Group marks a significant expansion in the high-net-worth insurance market. This strategic move not only broadens Gallagher’s geographic presence but also enhances its ability to deliver personalized, high-quality solutions to affluent clients. Shepard Insurance, known for its tailored services in the Northeastern United States and Florida, will now integrate its
Akur8, a leading provider of AI-powered pricing and reserving software, has recently announced a strategic move set to strengthen its presence in the German insurance market. Michael Kraus has joined the company as a strategic advisor, a decision aligning with Akur8’s continuous efforts to optimize pricing strategies through advanced machine learning technologies. For a company that caters to over 250
