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INSURANCE NEWS
Skydiver Rescued After Crashing Into Virginia Tech Stadium Scoreboard
A skydiver crashed into the Lane Stadium scoreboard before Virginia Tech’s spring football game Saturday. Virginia Tech officials said on X that the skydiver “was safely secured and is currently stable” following rescue efforts. The incident caused a delay in …
Gunfire, U-Turns and Threats Mark a Chaotic Weekend in Hormuz
After Iranian Foreign Minister Abbas Araghchi posted on X on Friday that the Strait of Hormuz was “completely open,” a tanker stuck in the Persian Gulf immediately lifted anchor and began heading for the narrow waterway. The ship believed it …
India Expands Russian Marine Insurance Options
India has expanded the pool of Russian insurers eligible to provide marine cover to ships docking at its ports, increasing the number to 11 from eight, according to its Directorate General of Shipping. India has permitted Russia’s Gazprom Insurance and …
How Niche Insurance Shielded Bad Bunny From Bad Weather
Bad Bunny had a problem. Days before the Puerto Rican mega-star was set to perform in Colombia earlier this year, the possibility of heavy rains threatened to turn three sold-out shows in Medellin into multimillion-dollar losses. Solutions were few. Traditional …
Asia Regulators Raise Scrutiny on Banks Amid Mythos AI Fears
Regulators across Asia are stepping up scrutiny of cybersecurity risks in their financial systems, as concerns over Anthropic PBC’s latest AI model Mythos spread. Singapore’s financial regulator is urging banks to plug holes, while South Korea’s government agencies have met …
World Awaits Fate of Ceasefire After US Seizes Iranian Ship
Concerns grew on Monday that the ceasefire between the United States and Iran might collapse after the U.S. said it had seized an Iranian cargo ship that tried to run its blockade and Iran vowed to retaliate. Efforts to build …
Ex-CEO, Ex-CFO of Bankrupt AI Company Charged With Fraud
The former chief executive and chief financial officer of iLearningEngines, which provided AI-driven business automation technology, were indicted on charges they defrauded investors and lenders by fabricating “virtually all” of the now-bankrupt company’s customer relationships and revenue. Former CEO Puthugramam …
Pemex Undersea Pipeline Found to Cause Gulf Oil Spill
An oil spill in the Gulf of Mexico that soiled beaches, killed wildlife and sparked outrage from environmental groups was caused by a leaky pipeline owned by state oil company Petroleos Mexicanos, the company said. A government investigation determined that …
SEC’s Power to Recoup Illicit Profits Challenged at Supreme Court
Three times over the past decade, the US Supreme Court has cut the Securities and Exchange Commission’s ability to extract millions of dollars from alleged wrongdoers. Critics of the commission say it’s not enough. In arguments Monday they are asking …
AI for the Defense: Should Insurers or Law Firms Pay?
The idea that AI tools can help plaintiffs’ lawyers to improve finely tuned litigation strategies that ultimately drive insurance company claims payouts is not new to Carrier Management readers. Nor is the suggestion that defense firms need to try to …
Florida Needs More, Much More Wind Mitigation. Experts at OIR Summit Give Ideas
Florida has the largest wind-mitigation grant program in the country, providing more than $300 million to homeowners over the last few years and resulting in insurance premium discounts for thousands of people. But it’s not enough. The program is not …
India Approves $1.4 Billion Maritime Insurance Pool
India has approved a maritime insurance pool of 129.8 billion Indian rupees ($1.40 billion), Ashwini Vaishnav, minister for Information and Broadcasting, said on Saturday. The pool is for 10 years can be extended to five more years, Vaishnav said in …
