• Finance

    Companies eye financial penalties for unvaccinated workers

    Companies are considering more aggressive alternatives to vaccine mandates after Delta Air Lines announced last week that it would implement a $200 monthly surcharge on unvaccinated employees enrolled in the company’s health care plan. Delta’s announcement intrigued firms that are eyeing stronger incentives to get employees vaccinated. Those companies view the surcharge approach as a way to boost vaccinations without having to lay off workers or take other disciplinary action against those who refuse to get the shot. But some employers are concerned that hiking health care premiums or imposing other financial penalties could create administrative and regulatory burdens, and  

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  • Financial Analysis

    Analysis: Wells Fargo’s long road to repair extends with prospect of more penalties

    WASHINGTON/NEW YORK, Sept 1 (Reuters) – It has been nearly five years since Wells Fargo & Co (WFC.N) began addressing widespread customer abuses that led to regulatory penalties, lawsuits, reputational damage, business overhauls and management changes, but the fourth-largest U.S. bank apparently still has a lot of work to do, analysts say. Regulators at two key agencies – the Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB) – are considering additional sanctions against Wells Fargo because it has been too slow to compensate victims and address underlying weaknesses in business practices, Bloomberg reported  

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  • Home Insurance

    Loyalty penalties on UK car and home insurance to end | Financial Conduct Authority

    Customers who renew their home or motor insurance will not be charged more than new policyholders after the financial watchdog put an end to companies charging a loyalty penalty. People who automatically renew their policy with their insurer are often charged higher premiums than new customers, who tend to be offered the best deals. The Financial Conduct Authority (FCA) found that on average new customers paid £285 a year for motor insurance, while customers who had been with their provider for more than five years were charged £370. In the home insurance market, new customers paid £165 a year for  

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  • Vehicle Insurance

    Penalties for Driving Without Insurance in Illinois

    Driving without insurance in any state can lead to significant penalties. Each state has its own rules and consequences drivers must face when driving without insurance. Although it is considered illegal in Illinois to drive without insurance, nearly 12{de3fc13d4eb210e6ea91a63b91641ad51ecf4a1f1306988bf846a537e7024eeb} of Illinois drivers were uninsured in 2019, according to the Insurance Information Institute (iii). Driving without insurance in Illinois can lead to huge fines and even result in having your license suspended. Minimum insurance required in Illinois Like most states in the U.S, drivers in Illinois must obtain minimum insurance by law. The minimum amount includes bodily injury, property damage and  

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