In a significant development, a federal judge approved a $2.4 million settlement on Wednesday for a class-action suit between food corporation Cargill and a group of current and former employees. The employees alleged that Cargill failed to pay them for all hours worked following the 2021 Kronos ransomware attack. The settlement, in the case of Futrell v. Cargill, comes after
Igloo, a leading insurtech operating in Asia, has successfully closed a substantial Pre-Series C funding round, securing a total of $36 million. This funding round, which underscores the growing interest in the Asian insurtech market, was led by global investment firm Eurazeo. Backed by the insurer BNP Paribas Cardif, Eurazeo’s involvement highlights the institution’s commitment to nurturing innovative technologies and
Novidea, the global insurtech company, has recently announced the launch of its innovative insurance management platform in Southeast Asia. With increasing demand for digital transformation in the region’s insurance industry, Novidea aims to empower brokers, agents, MGAs/MGUs, and carriers to modernize their operations, manage the customer journey more effectively, and drive growth across the entire insurance distribution lifecycle. Features of
American International Group, Inc. (AIG), a leading global insurtech organization, has successfully concluded its secondary offering of Corebridge Financial, Inc. (CRBG) shares, resulting in a substantial $712 million windfall. Spearheaded by J.P. Morgan, the underwriting for this significant transaction involved selling 35 million existing shares of Corebridge’s common stock at a public offering price of $20.50 per share. Despite this
Keeping abreast of updates from the U.S. Department of Labor (DOL) is crucial for HR professionals as it shapes HR practices across the country. In this article, we will delve into the latest updates from the DOL in wage and hour law, workplace safety, and retirement plans, focusing on three critical areas of concern: overtime regulations, independent contractor classification, and
The Americans with Disabilities Act (ADA) has been a cornerstone in ensuring workplace accommodations for individuals with disabilities. In addition to favoring accommodations that enable employees to remain in their current roles, the ADA also recognizes the possibility of reassigning workers to vacant positions they are qualified for. However, the specifics relating to the time and scope of searching for
Risk management is a critical aspect of running a successful business, as it helps protect companies against potentially detrimental events. The findings of Aon’s Global Risk Management survey, which involved 3,000 business leaders worldwide, shed light on the key concerns facing organizations. These concerns include cyber risk, business interruption, supply chain disruption, and failure to attract and retain talent. In
Floodbase, a leading provider of flood data and analytics, and Oneglobal, a re/insurance intermediary, have announced a strategic partnership to develop and distribute parametric flood insurance solutions across Asia. This collaboration aims to close the flood insurance gap in the region by offering innovative and cutting-edge insurance products. Closing the Flood Insurance Gap One of the primary goals of this
Cover Genius, a leading insurtech for embedded protection, and Catawiki, the renowned online marketplace for unique objects, have announced an exclusive partnership aimed at safeguarding the shipping of valuable and unique items. This collaboration will offer Catawiki sellers the convenience of embedded protection within the online shipping process, ensuring peace of mind for both sellers and buyers. Embedded Protection for
Regional insurtech company Igloo recently announced the successful closure of a $36 million pre-Series C funding round. This substantial investment was led by global investment firm Eurazeo, which operates an insurtech fund backed by leading insurer BNP Paribas Cardif. Eurazeo’s investment aligns with its insurtech fund’s focus on disruptive technologies and innovative business ideas that are revolutionizing the insurance industry.
Novidea, the market-leading InsurTech company, has recently announced the appointment of Ido Peled as its new Senior Vice President of Product. This move aims to bolster the strategic direction of Novidea’s insurance management platform and further solidify its position in the industry. Roles and Responsibilities of Ido Peled Peled’s primary responsibility as the Senior Vice President of Product will be
Novidea, a leading provider of insurance technology solutions, has recently appointed Ido Peled as Senior Vice President of Product. With his extensive experience and expertise in driving product development and strategic direction, Peled will play a crucial role in enhancing Novidea’s insurance management platform and reinforcing its position as a top innovator in the global insurance technology landscape. Peled’s Role
