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INSURANCE NEWS
Trump’s AI Liability Push Opens Blame Game for Models Gone Rogue
The Trump administration’s embrace of legal liability to enforce artificial intelligence safety sets the stage for future conflicts over who foots the bill when AI models go rogue: the companies that design the systems or the people that deploy the …
Ukrainian Drones Hit Russia’s Top Data Center in Attack on AI Ambitions
Ukrainian drones hit Russia’s biggest data center on Wednesday, part of a series of attacks appearing to target Moscow’s ambitions to develop Russian artificial intelligence capabilities on a par with those from the US and China. The strike on the …
Ga. Commissioner’s Office Investigating as Six Flags Closes 10 Rides After Fatality
Six Flags Entertainment Corp. has temporarily closed 10 rides at seven of its amusement parks, and the Georgia insurance commissioner’s office and local police are investigating after a man fell to his death from a roller coaster. Cobb County Police …
Business Moves: Liberty Mutual to Buy Brazil’s Austral Seguradora
Liberty Mutual Insurance said it has an agreement to acquire Austral Seguradora, a top-five Brazilian surety provider headquartered in Rio de Janeiro. Upon completion of the transaction, Liberty Mutual said it will be one of the largest surety providers in …
Illinois Launches Cover Crop Insurance Savings Program for 2027
The Illinois Department of Agriculture (IDOA) is offering its insurance discount program for cover crops for the eighth year. The program, called Fall Covers for Spring Savings Program, encourages cover crop acres not supported by other state or federal incentives. …
Shipping, Insurance Costs for Energy Flows Surge, OPEC, non-OPEC Ministers Say
Ministers of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC participating countries in the Declaration of Cooperation said shipping and insurance costs have surged to unprecedented levels – over one third of the commodity value, impeding efficient movement …
Kroger Plans to Slash 37% of Corporate Jobs in Next Three Years
Kroger Co. plans to cut more than one-third of its corporate headcount as the grocer seeks to simplify operations and compete more effectively under new Chief Executive Officer Greg Foran. The Cincinnati-based company will eliminate about 3,000 roles across various …
Business Interruption Claims Approach $1M Average, Says Allianz
The average cost of a business interruption claim is nearing $1 million, an upward trend that appears to have several causes. A new report shows BI losses are being pushed up by natural catastrophes, growing risk in supply chains, rising …
Europe’s Insurers Cut Coverage of Weather Losses, Report Says
Insurers are withdrawing coverage for climate-driven risks and increasingly passing on losses to governments and homeowners, according to a report published by UK-based nonprofit Inside Track. The warning adds to concerns voiced publicly by others in the industry. Last month, …
Fairfax to Buy IDBI for $5.6 Billion in Biggest India Bank Deal
Canadian billionaire Prem Watsa’s Fairfax Financial Holdings Ltd. will acquire a stake in IDBI Bank Ltd. for 528.78 billion rupees ($5.6 billion), making it the biggest foreign investment in India’s rapidly growing financial services sector. Fairfax Financial will own 60.72% …
IMF, World Bank Launch ‘Bangkok Blueprint’ to Fight Cyber Fraud
The International Monetary Fund and World Bank on Oct. 14 released a framework for tackling cyber-enabled fraud, as the Thai government underlined the mounting cost of online scams that have roiled the region. The framework, known as the Bangkok Blueprint …
Missouri Sues E-Commerce Giant Temu Over Aggressive Data Collection Practices
Missouri Attorney General Catherine Hanaway has filed a suit against Temu, an e-commerce platform based largely in China, alleging the company uses aggressive and misleading data collection practices that harm Missouri residents’ privacy. Temu incorporates misleading pricing, false statements about …
