Insurance
US Judge Says Google Must Face Some Advertisers’ Antitrust Claims, Dismisses Others
Alphabet’s Google must face advertisers’ proposed class action lawsuit claiming that it monopolizes the ad exchange market, a U.S. judge ruled on Friday. But U.S. District Judge Kevin Castel dismissed some other antitrust claims, including those focused on ad-buying tools …
Read More AI Firms Face Growing List of Lawsuits. Here’s What to Watch
Artificial intelligence firms are facing increasing pressure from some of the world’s most formidable names in technology and media, as new tools spark fresh questions over the risks posed by chatbots that threaten to rival human intelligence. Elon Musk became …
Read More Spike in Recent Ratings Downgrades Shows Challenges for U.S. Insurers
Negative ratings actions and financial challenges are forcing carriers to explore reinsurance options offering needed capital, according to a report released last month by Gallagher Re’s Strategic and Financial Analytics team. Downgrades of U.S. property/casualty (re)insurers jumped significantly in the …
Read More Florida OIR Approves Another 54,000 Citizens Takeouts. More Coming if Bills Pass
Florida’s Insurance Commissioner last week approved another round of takeouts from the state-created Citizens Property Insurance Corp., with an assumption dates in May. That brings the total takeouts with 2024 assumptions to more than 354,134, the Office of Insurance Regulation …
Read More University of Maryland Suspends Fraternities and Sororities Pending Investigation
The University of Maryland has ordered fraternities and sororities on campus to suspend social and recruitment activities after the school received multiple reports of unsafe activities. A letter sent Friday from university officials to fraternity and sorority presidents informing them …
Read More Xcel Energy Utility Equipment Started Texas Wildfire, Homeowner Claims in Lawsuit
March 1 (Reuters) – A Texas homeowner whose house was destroyed by a massive wildfire raging northeast of Amarillo sued electric utility Xcel Energy XEL.O on Friday, alleging that a splintered power pole owned by the company fell and started …
Read More Kansas’ Conrade Insurance Group Discloses Data Breach
Conrade Insurance Group this week reported a data breach upon identifying unusual activity in its email system. The Newton, Kansas-based insurance agency posted a Notice of data Event on its website stating an investigation determined that one employee email account …
Read More Ryan Specialty Q4 Net Income Up 28% on E&S Expansion
Ryan Specialty reported fourth quarter 2023 net income of $58.5 million and net income of $194.5 million for the full year. The Chicago-based specialty insurance firm grew Q4 net income by about 28% from the prior year, while full year …
Read More Boat Rental Protection, Direct-Action Truck Bills Moving Forward in Georgia Assembly
Georgia legislation that could have a significant impact on insurance litigation and losses for transportation-related businesses are moving forward in the state General Assembly. The Georgia House of Representatives late last month approved House Bill 994, which would give some …
Read More Supreme Court Opinion on Maritime Law Solidifies Insurer’s Choice-of-Law Clause
A dispute between an insurer and a yacht owner went all the way to the U.S. Supreme Court with a decision recently—the first of its kind on marine insurance in about 70 years—to clarify federal maritime law and state insurance …
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