“This is an exciting evolution as it will allow me to focus solely on the needs of the portfolio as well as pursue my other entrepreneurial activities outside of the GIA.”
— Brian Hemesath, managing director of Des Moines, Iowa-based Global Insurance Accelerator (GIA), announcing he is stepping down to become an alumni advocate and entrepreneur-in-residence at the organization. GIA, created in 2014, was the first insurtech accelerator focused solely on innovation for the insurance industry.
“This hurricane couldn’t have come at a worse time.”
— North Carolina Farm Bureau President Larry Wooten comments on the impact Hurricane Florence will have on farmers in the Carolinas. The Category 1 storm hit the state on Sept. 14 and caused flooding for at least 10 days. Billions of dollars in agricultural damage are expected, including losses to tobacco, cotton, corn, potato and peanut crops.
“Although we’d like to replace all older pipelines immediately, just like with replacing older roads and bridges, replacing pipe takes time and resources.”
— Texas-based Atmos Energy Corp. in response to a Dallas Morning News report claiming that Atmos has some of oldest pipes in the country, and that since 2006 more than two dozen homes in north and central Texas have blown up along a network of pipelines it operates. Atmos told federal regulators last year that it will need at least three more years to remove the 500 miles of cast iron pipes remaining in its network. Federal officials have urged the removal of cast iron pipes since the 1980s.
“When employers misclassify their workers as independent contractors, they cheat their employees of their wages and other important job protections.”
— Massachusetts Attorney General Maura Healey, whose office cited Watertown, Mass.-based medical transportation business, Quantum Transportation LLC for violating workers’ rights and state wage laws. Healey’s office had received complaints from workers alleging they were misclassified and not paid the appropriate overtime rate. The company and its managers, Andrey Borzy and Aliaksei Rudy, were hit with $460,945 in restitution and penalties were issued.
- State Farm Cuts Homeowners Rates by 14.4% in Florida
- Billionaire Paying Off College Students’ $40 Million Debt Has Ties to Insurance Industry
- MGM Sees $800 Million Las Vegas Shooting Settlement; $751 Million Covered by Insurance
- Only 55% of AIG Shareholders OK $21 Million Compensation for CEO Duperreault