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INSURANCE NEWS
ANZ CEO Matos Warns of Global Jobs Crisis Without AI Rules
ANZ Group Holdings Ltd. Chief Executive Officer Nuno Matos has called for global regulation to manage the impact of artificial intelligence on the labor market, which he warned could trigger an international crisis. Should large-scale job cuts of up to …
Macron Talks to Gulf Countries About Providing Hormuz Insurance
French President Emmanuel Macron is negotiating with Gulf countries to find a way to lower insurance costs for vessels going through the strait of Hormuz, where transport has been disrupted since the US and Israel began strikes on Iran in …
Riot Risks in Europe Lead Insurers to Start Capping Coverage
Insurers are taking steps to limit their exposure to the risk of losses tied to a wave of street protests in cities across Europe. The industry has started imposing caps on coverage, raising deductibles and — in some high-risk locations …
Marsh Says Fed Should Ease Up on Banks That Insure AI Loans
Marsh & McLennan Cos. is urging US regulators to allow banks to hold less capital against loans covered by credit risk insurance as they look for new ways to offload data center exposure. Demand for hedging AI-related finance has exploded, …
SpaceX Must Face Sex-Bias Claims After Appeals Court Rejects Arbitration Request
SpaceX must face a lawsuit accusing it of illegally firing eight engineers who raised concerns about alleged sexual harassment and discrimination at the company after a US appeals court on Tuesday rejected its request to send the case to private …
Five States Join FTC Suit Against Hims & Hers Over Privacy Practices
Five US states have joined the Federal Trade Commission in a lawsuit that alleges telehealth company Hims & Hers Health engaged in deceptive and unlawful privacy practices, the FTC said on Oct. 10. The lawsuit alleges the company shared consumers’ …
White Workers Claiming Discrimination Complicates Shell’s DEI Drive
In October, Shell Plc held a “DE&I in Action and World Mental Health” day, focused on inclusion and mental wellbeing. Staff in the US and elsewhere were encouraged to reflect on their experiences at work, to “practice care, courage and …
Australian Companies Face ‘AI Washing’ Claims After Wave of Job Cuts, Offshoring
Australia’s blue-chip companies are increasingly invoking artificial intelligence as they cut jobs and move work offshore, unions and experts say, complicating the government’s efforts to support employment in a slowing economy. On Oct. 10, Qantas, Australia’s flag carrier, said it …
Could Huang, Nvidia and Company’s Board Be Held Liable Over Affair Scandal?
Reported ties between Jensen Huang, the CEO of AI powerhouse Nvidia, and a suspected Chinese spy have sparked an investigation by the FBI, calls for congressional hearings, a review by the company’s independent directors and a proposed investor class action …
Liberty Mutual Investments Backs Pet and Vet Services Firm Synergy Pet Group
Liberty Mutual Investments, the investment firm for Liberty Mutual Group, said it has provided debt financing to Synergy Pet Group to support the company’s continued pet services and technology expansion. Synergy Pet Group, based in Lakewood, New Jersey, is backed …
Maryland High Court Weighs Sovereign Immunity Claim for Some Sex Abuse Lawsuits
Maryland’s highest court heard arguments on an appeal Monday that will affect 1,300 lawsuits filed under the Child Victims Act. The 2023 law effectively eliminated time barriers for someone to file a court claim of institutional sex abuse. At issue …
People Moves: Island Insurance Names Cheung VP; Alliant Names Shenouda AI Transformation Officer; Daley Becomes EverPeak CUO
Cheung Joins Island Insurance as VP of Operations, Data and Product Management Island Insurance named Michelle Cheung to its executive team as vice president overseeing the organization’s operations and data products management. Most recently, Cheung was the IT development manager …
