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Replace Fear With Imagination In Implementing DEI, Panelist Says

Diversity “is the new Apple watch – everybody wants it,” said Kimberly Ross, senior vice president, federal relations with the American Council of Life Insurers. But despite corporate America’s interest in diversity, equity and inclusion, the workforces, board rooms and C-suites of many financial services companies are not representative of the communities they serve, she added. Addressing this disconnect and advancing DEI in the financial services industry were among the topics discussed during Tuesday’s virtual event “DEI: Expanding Opportunity In Insurance.” The online event was sponsored by ACLI, The American Property Casualty Insurance Association and the Life Insurance Council of New York.

Pascrell, Reed, DeFazio, Diaz-Balart Reintroduce Disaster Aid Bill

Pascrell, Reed, DeFazio, Diaz-Balart Reintroduce Disaster Aid Bill
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Some States Still Weigh Mandating Business Interruption Coverage

Some States Still Weigh Mandating Business Interruption Coverage Since about a year ago when their business constituents began complaining that their insurance companies were telling them their policies do not cover their losses from the pandemic, lawmakers in a number of states have responded by filing legislation to require business insurance to cover losses from a pandemic. No state has yet passed a pandemic business interruption mandate. But while lawmakers have not been able to deliver on their proposals to date, the proposals have not gone away. In 2020, 16 states considered bills but they were either defeated or not acted upon, according to figures from the industry’s American Property Casualty Insurance Association (APCIA).

Pamplin Media Group - Paperwork squabble threatens bill to protect lawyers clients

Paperwork squabble threatens bill to protect lawyers clients Enacted in 15 other states, a proposed consumer safeguard faces obstacles in Oregon. In 2019, when Portland attorney Lori Deveny was indicted for allegedly stealing millions of dollars from her clients, it was just the latest instance in which an Oregon lawyer was accused of improperly diverting settlement cash into their own pocket. Now, a consumer protection bill designed to curb the unsavory practice faces an uncertain future despite strong support from the Oregon State Bar, the quasi-governmental organization that regulates lawyers. The bill s premise is simple. It requires that when an insurer pays a settlement to a client s lawyer, it alerts the client it has done so.

How Biden s focus on economic recovery in the US will impact re/insure

11-03-2021 As President Joe Biden’s administration places a focus on COVID-19 recovery, four industry experts explain what his presidency means for the re/insurance market. In contrast to the last US President, Joe Biden is more focused on recovery than partisan politics, and he looks set to use his “bully pulpit” to drive significant change in everything from foreign policy to taxation all of which will impact the re/insurance industry. In particular, the industry is concerned about inflation and tax reform, especially in the wake of COVID-19 rescue efforts. This was one of the main talking points from a panel discussion titled “What the US election result means for the re/insurance market”. The discussion took place on Intelligent Insurer’s Re/insurance Lounge, an online platform where interviews and panel discussions are available on demand.

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