Insurance
China Construction Bank Sued in US Over Reinsurance Fraud Losses
China Construction Bank Corp., the nation’s third-largest commercial lender, was accused in a US lawsuit of enabling a massive fraud in the reinsurance industry that left companies with “monumental losses” and sinking stock prices. The bank allowed employees to conspire …
Read More Markets/Coverages: FloodFlash Launches New Parametric Auto Dealer Program
FloodFlash has added a dealer program in their efforts to support more U.S. businesses ahead of a hurricane season that is widely anticipated to be amongst the worst in recent memory. Stored on large, flat areas of often impermeable land, …
Read More Liberty Mutual Posts $1.5B Net Income for Q1, Reversing Loss
Liberty Mutual Holding Company on Thursday reported first quarter 2024 net income of $1.5 billion compared to loss of $74 million during the same period last year. The combined ratio for the first three months of 2024 improved to 95.8 …
Read More Nuclear Verdicts Surge to $14.5 Billion in 2023 – Report
Nuclear verdicts of at least $10 million reached a 15-year high in 2023, while 27 verdicts were “thermonuclear,” or more than $100 million, according to a new study by research firm Marathon Strategies. The report, “Corporate Verdicts Go Thermonuclear,” found …
Read More Personal Auto Insurers Have Edge on Innovation: AM Best
After two years of challenges for personal auto insurers, rating agency AM Best delivered a positive assessment: U.S. personal auto insurers are the furthest ahead when it comes to innovation. Personal auto insurers’ innovative processes include automated claims management and …
Read More What Risks Do Advanced AI Models Pose in the Wrong Hands?
The Biden administration is poised to open up a new front in its effort to safeguard U.S. AI from China and Russia with preliminary plans to place guardrails around the most advanced AI models, Reuters reported on Wednesday. Government and …
Read More Spouse Married After Injury Can Still Seek Damages in Asbestos Claim – Fla. High Court
The Florida Supreme Court has opened the door a little wider to wrongful death claims from people who weren’t married to victims at the time of injury, upsetting what defense lawyers said was a decades-old common-law practice. In Ripple vs. …
Read More Dallas to Atlanta Brace for Severe Thunderstorms: Weather Watch
Nearly 22 million people from Dallas to Atlanta will face another round of severe thunderstorms bringing downpours, hail and possibly tornadoes. For the last week, the central and southern US have been battered by ferocious storms and flooding that all …
Read More People Moves: Leif Assurance Promotes Langworthy to Enterprise Relationship Manager
Leif Assurance, a full-service insurance agency that exclusively handles construction insurance, has promoted Melinda Langworthy to the role of Enterprise Relationship Manager. Prior to this new position, she served as the company’s Senior Sales Account Executive. Langworthy will be responsible …
Read More After Deadly Oklahoma Tornado, Storms Bring Twisters to Midwest
DETROIT (AP) — Severe storms battered the Midwest on Tuesday, unleashing a curtain of heavy rain, gusty winds and tornadoes throughout the region a day after a deadly twister ripped through a small Oklahoma town and killed at least one …
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