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INSURANCE NEWS
Edison Drops on Willful Misconduct Allegations in Eaton Fire Case
Edison International shares fell over 3% on Tuesday after short seller Muddy Waters said it had uncovered new information suggesting the utility acted with “conscious” or “willful” disregard in the Eaton Fire. Related: Southern California Edison Chief Warns Wildfire Impasse …
FAA Tells US Airlines to Exercise Caution in Saudi Arabia Flights, Citing Safety Risks
The Federal Aviation Administration told US airlines to exercise caution when flying to or over Saudi Arabia, citing safety threats tied to ongoing military activities and navigation system interference. The FAA Notice to Airmen, which lasts until December 10, follows …
Etude Launches E&S Carrier with $100M Surplus
Etude launched Etude Specialty Insurance Company, a technology-driven excess and surplus lines carrier for commercial property and casualty. Etude Specialty is domiciled in Nebraska, has more than $100 million of surplus, and will write in all 50 states. Etude also …
Iran Escalates Attacks on Ships, Threatening Oil Export Recovery
Iranian attacks on ships crossing the Strait of Hormuz have surged, potentially threatening the recent recovery in Persian Gulf oil exports. People working in the shipping industry said there were signs that the flow of cargoes through the waterway may …
RT FLEX Expands Across Property, Casualty, Construction, and Executive and Professional Liability Lines
Chicago-based RT Specialty and Ryan Alternative Risk, the wholesale brokerage and alternative risk divisions of Ryan Specialty, have expanded RT FLEX, a proprietary follow-line facility that gives RT Specialty brokers access to additional capacity across a broad range of specialty …
SpaceX Plan to Launch 456 Starships a Year in Texas Under Review
SpaceX is proposing to increase the number of Starship launches and landings it conducts out of its Starbase facility in South Texas to hundreds of flights each year, a plan currently being reviewed by the US government. The US Federal …
Harbor Emerges From Stealth With $10M Funding to Handle AI-Agent Risk
New company Harbor said it has emerged from stealth to help with the risks of deploying AI agents. San Francisco-based Harbor starts with $10 million in seed funding from Base10 Partners, Abstract and 8VC. Harbor said it helps companies measure …
Rider Dies, Others Hurt on Six Flags Roller Coaster in Georgia
A rider has died and several others injured after an accident involving a roller coaster at the Six Flags Over Georgia park, the Associated Press reported, citing the police in Cobb County. Videos posted online show passengers being evacuated from …
EU Backs Ukraine War Risk Insurance as Market Rebounds
The European Union is providing a new backstop to a war risk insurance program for the Ukrainian logistics sector, amid a rise in demand due to intensifying Russian attacks. With EU backing, the European Bank for Reconstruction and Development’s guarantee …
Orbital Data Centers Risk Becoming Military Targets in Space
Orbital data centers chasing unlimited solar power and boundless real estate increase the risk of potentially catastrophic conflict in space — just as militaries worldwide embrace artificial intelligence and see computing facilities as critical infrastructure. On the ground, government server …
Banking Watchdogs Ramp Up AI Scrutiny as Stability Fears Mount, Sources Say
Banking regulators are stepping up efforts to contain growing AI risks, six people familiar with the matter said, with some pointing to the potential for cyberattacks on banks or rogue agents undermining global financial stability. The regulatory scrutiny, fresh details …
Bulgaria Points to Russia as Drones Hit More Cargo Ships
Bulgaria summoned Russia’s ambassador to Sofia after two ships were hit off the country’s coast, as concerns mount over the security of Black Sea shipping. The strikes on two cargo vessels on Oct. 13 add to a series of more …
