Insurance
Nvidia Is Sued by Authors Over AI Use of Copyrighted Works
Nvidia, whose chips power artificial intelligence, has been sued by three authors who said it used their copyrighted books without permission to train its NeMo AI platform. Brian Keene, Abdi Nazemian and Stewart O’Nan said their works were part of …
Read More Colorado Farmers Must Pay $6.5M for Defrauding Federal Crop Insurance Programs
Two Colorado Farmers must pay more than $6.5 Million for defrauding federal crop insurance programs, according to U.S. Attorney Cole Finegan. Finegan’s office announced that Patrick Esch and Ed Dean Jagers of Springfield, Colorado, agreed to pay the sum to …
Read More New Jersey Reports Spike in Incidents of Bias in 2023
Reports in New Jersey of incidents of bias — like antisemitism and anti-Black behavior among others — climbed by 22% last year, according to preliminary data released Thursday by the attorney general. Attorney General Matt Platkin’s office released the unofficial …
Read More Mississippi Wind-Mit Bill Would Tax Insurers, Help Fund Retrofits, Tornado Rooms
Mississippi could soon join the growing list of states with grant-funded wind fortification programs for homeowners, thanks to a bill that’s moving through the state Legislature. The state House of Representatives last week approved House Bill 888, by chief sponsor …
Read More Industry Trades Applaud New FIO-NAIC Partnership on Data Collection
The U.S. Treasury late last week backed off a plan to have the Federal Insurance Office (FIO) collect data on climate-related risks from property/casualty insurers—an outcome that had been sought by the insurance industry since the proposal was published in …
Read More Florida, Texas Grab Bigger Chunk of Paychecks as NY Fades
Southern US states have enjoyed some of the strongest job growth in the pandemic era, as well as some of the biggest wage increases — and they’re luring Americans from elsewhere in the country. Add those things together and they …
Read More No Recoverable Oil from Massive Spill off Southern California Coast
No recoverable oil remains in the water after a sheen was reported off the Southern California coast, but the cause remains unclear, officials said. Authorities detected the 2.5-mile long oil sheen Friday morning. Crews recovered about 85% of it, roughly …
Read More Lloyd’s Reports Banner Year in 2023 but Discipline Must Be Maintained: Market Update
Lloyd’s strong 2023 results reaffirm the primacy of underwriting, “but it’s one year and therefore not a reason for complacency,” said Patrick Tiernan, chief of markets, in a market message to discuss preliminary results. Burkhard Keese, Lloyd’s chief financial officer, …
Read More FEMA Adds $575M Reinsurance Coverage for NFIP
The Federal Emergency Management Agency (FEMA) late last week said that for the seventh time it went to the insurance-linked securities reinsurance markets to secure $575 million in coverage for the National Flood Insurance Program (NFIP). FEMA entered in a …
Read More Yemen’s Rebels Target Singapore-Flagged Ship in Gulf of Aden
An attack by Yemen’s Houthi rebels set off explosions ahead of a Singapore-flagged vessel in the Gulf of Aden, authorities said, the latest in a campaign of assaults by the Iranian-backed group over Israel’s war on Hamas in the Gaza …
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