Aon Corp. has reached settlements with the U.S. Department of Justice and the Securities and Exchange Commission totaling around $16.3 million to resolve violations of the Foreign Corrupt Practices Act.
The DOJ says Aon’s United Kingdom subsidiary, Aon Limited, administered training and education funds in connection with its reinsurance business with Costa Rica’s state-owned insurance company, Instituto Nacional De Seguros (INS). Whi
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The Association of British Insurers (ABI) has dubbed the theft prone festive season the theftive season, as criminals target easy pickings during Christmas and the New Year.
More than 10,000 burglary claims were handled by insurers over last Christmas with payouts totalling £15m.
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Rising insurance costs have made it expensive for U.S. drivers to stay on the road. Unfortunately, insurance premiums will probably continue to rise over the next year, partially due to new state auto insurance laws and traffic laws. State insurance regulations and driving laws have always had a tremendous impact on insurance companies, and several new laws have either made it more expensive for insurance companies to do business or easier for insurers to penalize poor drivers.
One example is the new wave of distracted driving laws, which have been almost unanimously supported throughout the insurance industry. Distracted driving laws levy fines against drivers who send text messages or check their phones while driving.
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Residents of Los Angeles County, especially those with cars, are no strangers to gridlock. The U.S. Department of Transportation reports four out of the top ten worst bottlenecks in the country can be found in Los Angeles.Interstate 405 in Los Angeles is one of the more notorious routes for heavy traffic and gridlock in the country. Last month, a closure of a portion of Interstate 405 was given the name “Carmageddon” by local officials, the Associated Press reports.The purpose and preparation of the closureThe AP reports a 10-mile stretch of the busy freeway that connects the San Fernando Valley and the west side of Los Angeles was closed for demolition of Mulholland Bridge. The demolition job created about 4,000 tons of rubble, the news source reports.The Los Angeles County Metropolitan Transportation Authority predicted a disaster of sorts, and planned similarly to their disaster preparedness steps for an approaching hurricane or flood, the news source reports.
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