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Italy to Tap Banks, Insurers for €3.5 Billion in Budget Plan

Insurance Journal

Prime Minister Giorgia Meloni’s cabinet is tapping Italy’s banks and insurers to help finance its budget, according to a new plan designed to deliver on giveaways pledged to voters. “As we promised, there will be no new taxes for citizens,” …

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People Moves: US Premium Finance Hires Malone From AFCO Direct

Insurance Journal

US Premium Finance, a division of Atlanta-based Ameris Bank, named Alan Malone director of sales and marketing. Malone has more than 30 years of experience in insurance premium finance. He was previously senior vice president and regional sales manager at …

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Treasury Warns That Anti-Woke Banking Laws Like Florida’s Are Security Risk

Insurance Journal

WASHINGTON (AP) — The Treasury Department is warning that state laws that restrict banks from considering environmental, social and governance factors could harm efforts to address money laundering and terrorism financing. The Associated Press obtained a copy of the letter …

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Swiss Re Among Firms in $3 Billion Credit-Risk Deal for International Finance Corp.

Insurance Journal

and AXA SA are among providers of $3 billion in credit-risk insurance for the private-sector arm of the World Bank Group, as it seeks to expand its lending in … Swiss Re AG, Tokio Marine Holdings Inc., AXIS Capital Holdings Ltd.

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UK Finance Firms’ Concern Over Geopolitics at Record Level

Insurance Journal

The share of UK financial services firms worried about geopolitical risks is at its highest level since the 2008 crash, the Bank of England said. The BOE’s biannual systemic risk survey, which began during the financial crisis, said on Wednesday …

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Accused of Going Too Far, UK Finance Regulator Plots Where to Go Next

Insurance Journal

The UK’s top financial regulator has spent much of its eleven-year history in combat with the industry it oversees, a tone set by its first chief executive Martin Wheatley, whose zeal for fining banks got him ousted in 2015. Now, …

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Checklist for Conducting Your Law Firm’s Year-End Financial Review

Attorney at Work

A major red flag is having one employee who has all financial responsibility: check writing, bookkeeping, trust accounting and reconciliation, as well as maintaining all communication with your financial partners and bank. Checks and balances are key. Often, there is no ill intent on the part of the employee, just a lack of knowledge.