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INSURANCE NEWS
Florida Woman Sentenced in $6 Million Force-Placed Insurance Scheme
A south Florida woman who was once a licensed insurance producer has been sentenced to spend more than three years in prison and forfeit assets after she pleaded guilty to a leading role in a $6 million property insurance and …
Supply Chain Insurance Is ‘Must-Have’ Cover During Geopolitical Tensions: GlobalData
Supply chain insurance is seen as a must-have protection during a period of geopolitical tensions to safeguard daily commercial operations, according to GlobalData, the London-based data and analytics company. Supply chain insurance (41.1%) is the product expected to see the …
NHTSA Probes 1.2 Million Tesla Vehicles Over Suspension Failure Risks
he National Highway Traffic Safety Administration said on July 31 it has opened a preliminary investigation into about 1.2 million Tesla vehicles over reports of suspension failures that could cause a loss of vehicle steering control. The regulator said its …
Deadly Flooding in West Virginia Finds Prevention Plans Unaddressed
At least two West Virginians are dead, dozens of homes are damaged and communities across north central West Virginia are left picking up the pieces in the wake of another major flood. Just a decade ago, a massive flood prompted …
Japan Earthquake Halts Auto and Chip Plants, Testing Supply Chain Resilience
The 7.1-magnitude quake that struck southern Japan this week has brought many car and semiconductor factories in the area to a halt, but hopes are high that disruptions will be less severe than a similar-sized temblor that rocked the region …
Anthropic AI Models Hacked Three Organizations During Tests
nthropic PBC said its artificial intelligence models breached three organizations during cybersecurity tests that went awry, a little more than a week after its chief rival, OpenAI, disclosed a similar incident. Anthropic said in a blog post Thursday that it …
Police Am-Bush Catches 74 Drivers Using Cell Phones
Someone must have challenged the Dunellen Borough (New Jersey) Police Department to get creative with traffic enforcement. As the department reported on Facebook, an officer conducted a distracted driving enforcement detail on a “highly-trafficked, pedestrian-heavy” downtown area on Wednesday of …
Former Insurance Agent Sentenced to Jail for Fraud, Again
A Baltimore County judge has sentenced Michael C. Okolo of Pikesville, Maryland, to six months incarceration for 10 counts of insurance fraud for acting as an insurance agent without a license. According to Attorney General Anthony G. Brown, the jury …
Climate Change Made ‘Fire Weather’ in France, Spain More Likely
Climate change made the weather that fueled Europe’s recent wildfires at least twice as likely in France and at least 20 times as likely in Spain, scientists at the World Weather Attribution group said on Friday. The global climate is …
French Insurer AXA’s Profit Rises 2% as Expected, Confident on Outlook
AXA SA reported first half profit higher than the same period a year ago, as the Paris-based insurer assesses the impact of wildfires currently affecting France and Spain. The French insurance group’s underlying earnings came in up 2% to €4.5 …
Mapfre Acquires Stake in Insurtech Tuio; Bolsters Commitment to AI, Digital Innovation
Just a week after revealing a $1.5 billion deal to acquire U.S.-based Safety Insurance Group, Spain’s Mapfre has announced a deal closer to its European roots—taking a 38.9% stake in the Spanish insurtech Tuio. The Tuio stake strengthens Mapfre’s commitment …
State Farm to Begin Issuing Dividend Payments to Louisiana Drivers
State Farm Mutual Auto will soon begin issuing $136 million in dividends to Louisiana drivers. The carrier informed the Louisiana Department of Insurance that eligible customers will receive an email between early August and early September asking them to select …
