Alleged Allstate whistleblower sued for $700K over insurance discrimination accusations

liveinsurancenews | May 21, 2019

Mehda Joshi claimed that the insurance company sought to deny coverage to visible minorities in Canada.A former Allstate employee in Canada sued the company for wrongful dismissal and publicly accused the company of insurance discrimination. The company has now launched a counterclaim against the woman, Mehdi Joshi, for over $700,000 in damages. The legal battle between Joshi and Allstate Insurance Canada began in a Toronto court last week. This court battle is in Canada’s national spotlight and is also being watched by many other countries around the world due to the insurance company’s size and the nature of the accusations. It could also prove to be a defining legal moment in the Toronto court. Depending on the final ruling, it could set a precedent for similar cases in the future. According to Joshi’s lawyer in the wrongful dismissal suit against Allstate, Andrew Monkhouse, a ruling in favour of the insurer could produce a dangerous precedent and may discourage employee in the private sector from speaking out against their employers.

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Today’s competitive, fast-paced car wash market pushes businesses and business owners to work more quickly and effectively than ever before. The drive to maximize sales and stay a step ahead of an increasing number of competitors creates an environment where efficiency and speed are tantamount to success. Balancing customer satisfaction with the drive for increased throughput and additional services remains a daily challenge in car washes across the nation.

Spotlight

Today’s competitive, fast-paced car wash market pushes businesses and business owners to work more quickly and effectively than ever before. The drive to maximize sales and stay a step ahead of an increasing number of competitors creates an environment where efficiency and speed are tantamount to success. Balancing customer satisfaction with the drive for increased throughput and additional services remains a daily challenge in car washes across the nation.

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CORE INSURANCE

BDA Participates in 60th Annual Florida Insurance Council Summer Symposium

BDA | July 25, 2022

The Bermuda Business Development Agency (BDA) is proud to support the 60th annual Florida Insurance Council (FIC) Summer Symposium on July 26-28, in Orlando, Florida. The FIC programme will include state legislators, the Office of Insurance Regulation and other industry speakers including BDA Chair, Stephen Weinstein and BDA CEO, David Hart. Mr. Weinstein said, “Since Hurricane Andrew, Bermuda’s (re)insurance market has been the preeminent partner to Florida insurers, supporting the market with capital, risk expertise, and an ethos of collaboration." Mr. Weinstein said, “Since Hurricane Andrew, Bermuda’s (re)insurance market has been the preeminent partner to Florida insurers, supporting the market with capital, risk expertise, and an ethos of collaboration. Today, Bermuda (re)insurers provide over 60% of the hurricane reinsurance in Florida, support efforts to reform and strengthen Florida’s insurance market, and invest in and share cutting edge science to boost hurricane resilience and promote mitigation. Over 30 years, the Bermuda and Florida markets have tackled many challenges together and shared many successes. We look forward to seeing so many business, legislative, and regulatory leaders in person over the course of FIC’s outstanding programme, and exploring the next cycle of growth in our partnership.” Mr. Hart said, “As a sixth generation Floridian, I have seen first-hand the benefits that Bermuda’s (re)insurance market offers Florida’s economy, and I am proud to represent Bermuda and the BDA at the FIC’s Summer Symposium. As we enter peak hurricane season, our Chair and I will highlight Bermuda’s continued value proposition as the world’s risk capital to the largest gathering of Florida’s domestic insurers. We thank FIC President, Cecil Pearce, for the speaking invitation and look forward to a large gathering of Florida-based companies and executives visiting us for our second annual Bermuda Risk Summit being held at the Hamilton Princess & Beach Club on March 6-8, 2023.” CONNECTING BUSINESS The BDA encourages direct investment and helps companies start up, re-locate, or expand their operations in our premier jurisdiction. An independent, public-private partnership, we connect you to industry professionals, regulatory officials, and key contacts in the Bermuda government to assist domicile decisions. Our goal? To make doing business in Bermuda smooth and beneficial.

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RISK MANAGEMENT

Ahoy! Launches Recreational Boating Insurance for the Boating Industry

Ahoy | June 09, 2022

Ahoy!®, the new digital insurance MGA for recreational boating, today announced the introduction of its industry-first technology-driven insurance product. Ahoy! was created by boaters for boaters, and it blends proactive, risk-reducing technology with its founders' extensive expertise of both boating and insurance to provide cutting-edge insurance products for the twenty-first century. Ahoyinsurance !'s policies will be available directly and through agents in Michigan, Arizona, Ohio, Wisconsin, and Illinois, with plans to expand across the US in the coming months, thanks to a partnership with Spinnaker Insurance Company, a national property and casualty insurer rated A- (Excellent) by A.M. Best Company, and with backing from specialist reinsurers Greenlight Re and Topsail Re. Traditional insurance firms have failed to adapt to the special needs of today's boater, and they frequently bundle boat insurance with other home insurance policies. Ahoymain !'s focus is on this underserved market, leveraging technology to help secure boaters' vessels and provide peace of mind, transforming what was traditionally considered as a reactive and protective asset. Ahoyteam !'s is made up of naval veterans, insurance specialists, and seasoned high-tech leaders who have pooled their knowledge to build a comprehensive digital insurance product customized to boaters' specific needs. Ahoy! has also put together an advisory board that includes Matthias Weber, the former Chief Underwriting Officer of SwissRe. A boat isn't just another piece of property, it's a lifestyle choice. It's where you create memories, where you escape to when you need a little serenity or the place to run to for some excitement. We're boaters, we get that, Ahoy! offers a new kind of boat insurance, not only insuring boats but providing technological tools that help boaters proactively avoid risk. Ahoy! gives boaters peace of mind knowing their needs and concerns are addressed by fellow boaters and they can rest assured that their treasured vessels will be protected and ready to enjoy at any time." Ahoy! CEO and Co-Founder, Amit Nisenbaum. Customers of Ahoy! receive an onboard smart boat kit that works in conjunction with a proprietary mobile app to provide advanced telemetry capabilities that help proactively decrease risk and avoid damage or injury, as well as a phone overboard protection insurance. The smartphone app will eventually contain a digital logbook and data collecting for future travels, as well as notifications such as grounding avoidance, theft recovery aid, and micro-targeted weather alerts and forecasts. Millions of certified insurance brokers in the United States may now offer customised boating coverage to their customers faster and more readily thanks to Ahoy!, which is offered through independent agencies and directly online.

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CORE INSURANCE

Tokio Marine establishes strategic partnership with Arbor Ventures to accelerate innovation in the insurance industry

Tokio Marine and Arbor Ventures | August 12, 2022

Tokio Marine Asia Pte. Ltd. today announced a strategic partnership with Arbor Ventures, a leading global Fintech / InsurTech-focused venture capital firm, headquartered in Singapore. This partnership, established through its Innovation Lab in Singapore, marks Tokio Marine's commitment to accelerating the digital transformation of the global insurance industry. The Tokyo-headquartered insurance group has been promoting transformational digital initiatives on a global basis, leveraging on collaborations with startups and service providers with key strategic capabilities. To accelerate the identification and development of new business models, Tokio Marine Holdings, Inc. (Tokio Marine Holdings) has announced earlier in April 2022 on the launch of its corporate venture capital (CVC) fund partnering with World Innovation Lab, Tokio Marine Future Fund, to invest in early-stage startups. Tokio Marine will identify and invest directly in high-growth potential startups through the CVC Fund in addition to partnering with Arbor and other leading VCs for unique insights and access to promising startups leading the digital transformation in Insurance. Arbor's addition to Tokio Marine's group of collaborative VCs significantly heightens its future opportunities. Arbor is a global FinTech/InsurTech-focused VC with offices in Singapore, USA, Japan as well as a presence in EMENA. Arbor's global connectivity and portfolio as well as its engagement in local markets will further enable Tokio Marine group's innovation labs, spread across seven cities, including Singapore, to collaborate broadly with synergy beyond borders. "Arbor's target to create the future of FinTech resonates with Tokio Marine's digital strategy. With Arbor's network and astute scouting of startups with strong potential in the FinTech space, it will greatly complement Tokio Marine's collaborative efforts to serve innovative products and services in insurance industry and beyond." -Masashi Namatame, Group Chief Digital Officer at Tokio Marine Holdings Melissa Guzy, Managing Partner of Arbor Ventures, similarly commented: Tokio Marine is a world-renowned leader that Arbor is proud to add as a strategic partner in building the future of FinTech / InsurTech. Arbor looks forward to building the next generation of transformational InsurTech startups together. About Tokio Marine Group Tokio Marine was established in the year 1879 as the first insurance company in Japan and has grown over the decades, now offering an extensive selection of General and Life insurance products and solutions in 46 countries and regions worldwide. About Arbor Ventures Founded in 2013, Arbor Ventures is a global investment firm focused on companies that leverage advanced technologies such as artificial intelligence, cloud computing, composable service offerings and blockchain applications to facilitate, broaden or fundamentally change the way financial services are served, consumed, and managed. Arbor uses its global vantage point, extensive network and deep sector knowledge to identify key trends and partner closely with leading entrepreneurs to build transformational companies. Notable investments include Paidy, True Accord, Forter, Nomi Health, Tabby, Fundbox and HiBob.

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