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INSURANCE NEWS
Canada Loses 41,700 Jobs as Employment Shrinks in Finance
Employment in Canada fell by 41,700 in August, reversing some of the labor market momentum seen in recent months as the manufacturing sector posted the only significant increase. The jobless rate held steady at 6.4% while job losses were concentrated …
Viewpoint: Reinsurance Market to Experience Further Softening, M&A on Ample Capacity
The global reinsurance market maintains a very strong capital position that has benefitted from favorable earnings in recent years, with solid underwriting profits and resilient investment returns. However, this record capacity from both traditional reinsurers and alternative capital markets continues …
Seattle Times, Newsday Sue OpenAI, Microsoft, Alleging Copyright Infringement
The Seattle Times and Newsday sued OpenAI and Microsoft on Friday, alleging in federal court that the tech companies copied the newspapers’ journalism without permission to train their AI systems. The suit in the U.S. District Court for the Southern …
OpenAI Top Scientist Urges ‘Extreme Caution’ With Pace of AI
OpenAI’s top scientist has warned that artificial intelligence is evolving so rapidly that it is becoming increasingly difficult for humans to understand and control,and said he expects AI labs to voluntarily slow development for safety reasons. In a relatively short …
People Moves: Vivace Names Fenig CEO; Murray Joins Alliant’s Southern California Benefits Team; DUAL North America Adds Fowler as SVP
Vivace Insurance Partners Appoints Fenig as CEO Vivace Insurance Partners named Cordell Fenig CEO of Vivace Americas. Fenig was promoted to the position after having served as senior underwriter since the company’s Americas launch in March 2024. Fenig will lead …
Arizona Group Home Provider in Scandal Escapes Penalties for Boy’s Death
The staff caring for Jakob Blodgett said he already had been sneaking candy and refused to take his insulin. An employee at the Arizona group home where the 9-year-old boy was being cared for texted a supervisor about the boy’s …
GEICO Avoids Class Action Over Totaled Vehicle Payouts in New Jersey
A federal judge has declined to approve a class action lawsuit accusing GEICO of underpaying losses for totaled vehicles in New Jersey. The court declined to approve the class after concluding that individual issues outweighed the commonality of the proposed …
Viewpoint: How the Federal Ban on Intoxicating Hemp Products Will Reshape Risk and Coverage
I have been writing about the insurance risks of intoxicating hemp products since 2021, when delta-8 THC gummies first started showing up in convenience stores and gas stations across the country. Back then, our message to the cannabis, hemp and …
Viewpoint: How Federal Ban on Intoxicating Hemp Products Will Reshape Risk, Coverage
I have been writing about the insurance risks of intoxicating hemp products since 2021, when delta-8 THC gummies first started showing up in convenience stores and gas stations across the country. Back then, our message to the cannabis, hemp and …
EQT to Pay $2 Billion for Majority Stake in McGill and Partners
EQT AB has agreed to acquire a majority stake in UK insurance broker McGill and Partners from Warburg Pincus LLC for $2 billion, as the Swedish buyout firm looks to accelerate the company’s global expansion. The investment will be made …
Chicago River Bridge Gets Stuck After Lifting for Boat to Pass
A major bridge in downtown Chicago remained stuck in the raised position for more than four hours Wednesday after dangerous heat caused its components to expand. The DuSable Lake Shore Drive bridge, which crosses the Chicago River at Grand Avenue, …
Ross Fire Continues Burning in North Texas
Ten days since the Ross Fire broke out west of Fort Worth, responders are still battling one of the largest wildfires in North Texas’ recorded history. And while parts of the region are expected to get some rain and slightly …
