Happy Wednesday! In this week's Big I Buzz, we discuss the FTC's special open commission meeting on a rule to ban noncompete agreements, and how companies are adopting drone technology to assess property risks.

FTC Announces Special Open Commission Meeting on Rule to Ban Noncompetes

The Federal Trade Commission has announced a special open commission meeting to discuss a potential rule banning noncompete agreements, which restrict employees from working for a competitor after leaving a job. The move aims to promote competition in worker mobility within the labor market. The FTC's initiative follows growing concerns that noncompete agreements stifle innovation and limit job opportunities for workers. Conversely, the rule could significantly harm businesses in their attempt to protect trade secrets, intellectual property and relationships that impact their profitability. The special Open Commission Meeting will be held virtually on Tuesday, April 23, 2024 at 2 pm ET. Read more here.

Home Insurance Companies Increasingly Dropping Customers Based on Images from Drones

Home insurance companies are adopting drone technology to assess property risks, with some using images captured by drones to drop customers. These images provide detailed insights into property conditions, enabling insurers to make more informed decisions. However, this practice has raised concerns about privacy and discrimination. As insurers rely more on drone imagery, there's a growing debate about the fairness and accuracy of these assessments. Critics argue that such practices may disproportionately affect certain demographics or regions, highlighting the need for transparency and accountability in the use of the technology in the insurance industry. Read more here.

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