Judge approves settlement in Farmers equal pay lawsuit
Final approval has been granted in the equal pay lawsuit filed against Farmers Insurance over the compensation for its female attorneys who were paid less than their male colleagues for doing the same work.
The settlement means that Farmers will compensate hundreds of women who worked in its claims litigation department and require the insurer to change some of its practices and increase wage transparency.
“This is not just about Farmers Insurance or about female attorneys – this is about all women,” said Jennie Anderson, partner at law firm Andrus Anderson, which handled the lawsuit.
“Through this lawsuit, women are standing up and telling all companies – not just insurance companies – that they deserve equal pay for equal work,” she added.
Insurance pros meet to further transatlantic marketplace
Around 300 insurance professionals are meeting this week with the aim of growing the US/London marketplace through identifying new business opportunities.
The second annual Cover Holders and Risk Takers (CHART) meeting takes place in Baltimore Monday through Wednesday and encourages free exchange of ideas such as new coverage offerings, under-served market niches and other relevant topics among syndicates from Lloyds of London (Risk Takers), domestic insurance agencies and vendors specializing in the insurance industry.
“Based on my experience within the U.S./London marketplace, I believe the timing of CHART’s emergence is absolutely perfect," said Robert J. Hilb, founder and CEO of the Hilb Group and a participant at this year’s event. “The organization can educate domestic insurance agencies on the power of Lloyd’s and how it can be a huge advantage to them.”
The theme of this year’s event is ‘success stories’ focusing on insurance entrepreneurs who have used relationships with partners such as Lloyd’s to grow their businesses.
Among the highlights is a keynote speech from Jim Masiello; founder, chairman and CEO of Alliance Holdings, Inc. and the Strategic Insurance Agency Alliance.
AIG bolsters technology capabilities
Hugh Tamassia joins AIG today (Oct.3) as chief enterprise architect to help grow and improve the insurer’s technology capabilities. He was previously with JP Morgan Chase & Co.
“Modernizing AIG’s technological infrastructure by establishing a consistent architecture across the company will advance our employees’ capabilities to serve customers and represent progress toward becoming a leaner, more profitable and focused insurer,” said Philip Fasano, the insurer’s chief technology officer, Tamassia’s boss.
