News published on Business Daily in February 2024

In recent years, there has been a concerning increase in grain entrapment cases across the United States. These incidents have raised alarm bells as they can quickly escalate into life-threatening situations if proper safety measures are not followed. To address this issue and prevent tragic accidents, Nationwide has launched its Grain Bin Safety program, which provides specialized equipment and training to first responders.Two recent incidents serve as stark reminders of the risks associated with grain bins. In Indiana, an individual became engulfed in a grain bin on...

A new Defense Base Act (DBA) insurance program has been launched by K2 OCONUS, a division of K2 Insurance Services, to provide Workers’ Compensation coverage for U.S. government contractors working overseas. This program, underwritten by Nationwide’s excess & surplus/specialty business, aims to offer additional protection to contractors supporting the United States Armed Forces at bases overseas, particularly in high-risk areas.The program, now open to U.S. government contractors working abroad in various industries, such as construction, engineering, logistics, security,...

Direct written premiums for cyber insurance worldwide are projected to reach $23 billion by 2025, with U.S. businesses accounting for 56% of the total, according to a new report by the Insurance Information Institute (Triple-I). The report, titled "Cyber Insurance: State of the Risk," highlights two primary factors driving this trend.The first factor is the ever-present threat of data breaches and cyberattacks. With the increasing reliance on Internet of Things (IoT) technologies, the expansion of remote work, and the greater use of cloud data storage, U.S. businesses are...

The growth of personal auto premiums written through the direct channel has slowed down in recent years, according to a report by S&P Global Market Intelligence. While direct personal auto insurance writers are still growing, their rate of growth is lagging behind that of the traditional market. In 2023, direct channel premiums rose by 10.3%, compared to an 18.7% growth for the rest of the market.The direct channel refers to customers who purchase insurance online, via mobile devices, or by phone, without the involvement of an agent. This channel has been dominated by...

The Allstate Corporation has announced the availability of its fourth-quarter 2023 financial results. The company filed a Form 8-K, which includes the earnings release and investor supplement, with the Securities and Exchange Commission (SEC). Interested parties can access these materials on the company's page at sec.gov or at www.allstateinvestors.com.In a press release, The Allstate Corporation stated that it will be hosting a conference call and webcast on Thursday, February 8, at 9 a.m. Eastern Time to discuss the fourth-quarter results. Investors and analysts are...

CME Group has unveiled plans to launch E-mini S&P 500 Equal Weight futures. This is a departure from the S&P 500 Index, which assigns weights based on market capitalization; the S&P 500 Equal Weight Index instead distributes equal weight to all constituents in the index.

The Cook County Sheriff's Office has announced that three men are facing felony charges in connection with a fraudulent documents scheme. The men allegedly provided fake identification and social security cards to foreign nationals in Chicago, according to a press release from the Sheriff's Office.

The Zebra, an online platform for comparing insurance policies, has found that drivers with low credit scores may end up paying more than double the amount paid by those with high credit scores for car insurance.

Untreated sinus issues can cause many different problems down the line, and it is important to remember during American Heart Month the links between chronic sinusitis and cardiovascular health. According to Dr. Stephen Bane of Capitol Breathe Free Sinus & Allergy Centers, sinusitis can lead to serious issues such as heart attack and stroke.

Kaiko, a provider of cryptocurrency market data, recently announced that Binance's market share has rebounded to nearly 50%, just two months after the crypto exchange settled with the U.S. government. Binance is globally recognized as the largest cryptocurrency exchange in terms of trading volume.

In a recent episode of the ESG Insider podcast, the focus was on how the insurance industry is tackling the dual challenges of climate change and biodiversity loss. Rebekah Clement, Corporate Affairs Director at Lloyd's of London, emphasized the importance of considering both issues together, stating, "The two are inextricably linked, and it is so, so important that we're looking at both of them in the round."While the industry has made progress in addressing climate change, there is still work to be done in understanding and addressing biodiversity loss. Clement...

Spot intelligence data provider, Media Monitors, has reported that Morgan & Morgan, a prominent personal injury law firm, ranked among the top ten radio advertisers nationally in the week ending January 28. The company recorded 26,753 instances of Morgan & Morgan radio advertisements during that week.

Casey Kempton has been chosen as the new leader of Nationwide's personal lines property business, according to an announcement made by Mark Berven, Nationwide P&C President and Chief Operating Officer. Kempton's appointment comes as she brings a strong track record of success in both personal lines and commercial lines.Berven highlighted Kempton's exceptional qualifications, stating, "Casey stood out in particular thanks to her strong track record of performance excellence, deep experience in using data insights and technology to fuel growth and innovation, and her...

Black Americans have played a significant role in shaping the music industry, leaving an indelible mark on various genres such as country, jazz, and hip-hop. Their contributions continue to resonate with music lovers around the world. As we commemorate Black History Month, Grammy-award winning artist and Nationwide spokesperson H.E.R. is taking the initiative to educate and inspire through the power of music. H.E.R. will be sharing captivating Black music facts on Nationwide's social media channels, providing a platform for individuals to discover interesting insights and...