August, 2022

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FTC Sues Importer of LED Bulbs and COVID-19 PPE for “Made in USA” Violations

Hunton Andrews Kurth

The FTC, through the Department of Justice, has entered a settlement with two companies and the joint corporate President for falsely claiming that the LED lighting products and personal protective equipment (PPE) they sold were “Assembled in the USA,” “Buy American Act Compliant,” “Manufactured in the USA” and “100% Made in the USA,” despite having been imported from China.

Claim 110
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The cost of low cost landlords insurance

Cover4LetProperty

If you are a landlord, then like a lot of people, you probably regard the cost of insurance as an inevitable and necessary expense – but, at the same time, you’ll want to keep the cost of it as low as possible. To be on the lookout for what you consider is cheap landlords’ insurance, therefore, is in many ways only quite natural. Beware of the headline price One possible problem with products branded as low-priced or cheap landlords’ insurance, though, is that the attractive price tag may have b

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The Latest Version of GloveBox is Now Available

Agency Intelligence

It’s a great day at GloveBox! Our mission of providing the independent insurance channel with a premium client experience platform continues to take shape. Over the past many months, our team has been working on extensive updates to the platform in preparation for this release.

Premium 52
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Piracy Incidents Decline, But Horizon Isn’t Clear

Triple-I: Business Insurance

Maritime piracy in the first half of 2022 is at its lowest level since 1994, the International Maritime Bureau (IMB) says , with 58 incidents, down from 68 for the same period last year. Nevertheless, the organization cautions against complacency. For the full year 2020, IMB listed 195 actual and attempted attacks, up from 162 in 2019. The COVID-19 pandemic may have played a role in that rise in pirate activity – as it is tied to underlying social, political, and economic problems – and 2022 may

Cyber 40
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Proactive Tips for Businesses Facing Hail Damage Claims

Risk Management Monitor

Last week, a severe thunderstorm unleashed massive hailstones in Alberta, Canada, damaging dozens of cars and unleashing potentially record-breaking hailstones the size of grapefruits. While the stones were notable, the storm was less of a rarity—indeed, hail is becoming increasingly common and increasingly costly as a natural catastrophe peril around the world.

Damage 78
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Children’s Advertising Rules Apply in the Metaverse Too, CARU Says.

Hunton Andrews Kurth

CARU, the Children’s Advertising Review Unit of BBB National programs, issued a compliance warning last week reminding industry that the self-regulating body on children’s advertising and privacy intends to enforce its advertising guidelines in the metaverse, just like in the real world. CARU’s August 23 compliance warning puts companies on notice of what perhaps should have been obvious: its guidelines for advertising to children apply in the metaverse, too.

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FTC Extends Public Comment Period on Advertising to Kids in Digital Media

Hunton Andrews Kurth

On August 23, 2022, the Federal Trade Commission announced it is seeking additional public comment on “how children are affected by digital advertising and marketing messages that may blur the line between ads and entertainment” in conjunction with its “Protecting Kids from Stealth Advertising in Digital Media” event on October 19, 2022. The event will focus on manipulative marketing practices targeted towards children, particularly those related to influencer marketing and online games.

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First CCPA Enforcement Action Settlement Announced by California AG

Hunton Andrews Kurth

On August 24, 2022, California Attorney General Rob Bonta announced the Office of the Attorney General’s (“OAG’s”) first settlement of a California Consumer Privacy Act (“CCPA”) enforcement action, against Sephora, Inc. The OAG’s enforcement action against Sephora, which was part of a broader “enforcement sweep” of over 100 online retailers, involved allegations that Sephora failed to: Disclose to consumers that the company “sells” personal information (as broadly defined under the CCPA); Pr

Policy 96
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NFTs: For Many Retailers, the “N” Stands for Nostalgia

Hunton Andrews Kurth

Non-fungible tokens (NFTs) are creating new economic opportunities in old, familiar spaces. To capitalize on the current popularity of NFTs, some retailers are turning to the timeless art of nostalgia: reworking old media or products into an NFT collection to advertise a brand in an online space or bring new attention (and customers) to a vintage product.

License 52
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Buy to Let Insurance

Cover4LetProperty

Buy to let property insurance (also known as landlord insurance) is cover specifically designed to protect the principal assets of a buy to let business. The insurance recognises that anyone instantly becomes a landlord the moment they let their property, rent out rooms or areas of a home that they also continue to occupy, or only occasionally let their home during holiday peak periods on platforms such as Airbnb.

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2022 P&C Underwriting Profitability Seen Worsening as Inflation, Hard Market Persist

Triple-I: Business Insurance

The property & casualty insurance industry’s combined ratio – an indicator of underwriting profitability – is forecast at 100.7 for 2022, up 1.2 points from 2021, according to actuaries at Triple-I and Milliman , a risk-management, benefits, and technology firm. They presented their findings at a Triple-I members-only virtual webinar. Combined ratio represents the difference between claims and expenses paid and premiums collected by insurers.

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Navigating the Supply Chain Crisis

Risk Management Monitor

Two and a half years since COVID-19 emerged and set off a sea change in how we work and live worldwide, business leaders continue to grapple with the challenges it has created for the global supply chain. Extraordinary congestion at critical global ports, decreased availability of key raw materials and component parts, rising freight bills and an increasingly tight job market have all contributed to the need for companies to create an effective logistics risk management program.

Risk 45