Insurance
Low Water Levels Hamper Rhine River Shipping in Germany
Low water levels after recent dry weather are preventing cargo vessels from sailing fully loaded on the Rhine river in Germany with surcharges added to the usual freight rates, commodity traders said on Thursday. Low water is hampering shipping on …
Read More Jet Engine Maker CFM Says Suspect Parts Reached its Own Repair Shops
Jet engine maker CFM International said on Wednesday the number of engines suspected of containing falsely documented parts from a UK distributor had risen to 126, including 16 inside its own workshops after it inadvertently bought them indirectly. CFM, owned …
Read More RBS Loses UK Appeal Over ‘Unfair’ Commissions on Payment Protection Insurance
Royal Bank of Scotland (RBS) on Wednesday lost an appeal over unfair commissions that were charged to customers who were sold payment protection insurance (PPI), potentially increasing lenders’ exposure to litigation over the long-running scandal. The United Kingdom’s Supreme Court …
Read More Markets/Coverages: Coalition Exec Risk Insurance Now on Surplus Paper; ISO Adds 160 New BOP Classifications; MGU Verita Launches
Coalition’s Executive Risks Insurance Now Available On Surplus Lines Paper Coalition announced its executive risks insurance products are now available on surplus lines paper, making comprehensive management liability coverage available to a wider range of businesses. Coalition offers executive risks …
Read More EV Industry Offers Challenges, Opportunities for Insurers
A new paper by the American Property Casualty Insurance Association (APCIA) finds that the insurance industry is responding to the needs of the transportation sector as the momentum for electric vehicles (EVs), plug-in hybrids (PHEVs) and other low- and zero-emission …
Read More Bankman-Fried Was ‘Math Nerd’ Who Overlooked Risk Management
Sam Bankman-Fried’s lawyer laid out his defense case at his fraud trial on Oct. 4, portraying the 31-former billionaire as a “math nerd” who overlooked risk management in building his FTX exchange, but did not steal customer money. Bankman-Fried has …
Read More National Security Agency Is Starting an Artificial Intelligence Security Center
The National Security Agency is starting an artificial intelligence security center – a crucial mission as AI capabilities are increasingly acquired, developed and integrated into U.S. defense and intelligence systems, the agency`s outgoing director announced Thursday. Army Gen. Paul Nakasone …
Read More Federal Judge Dismisses Lawsuit Alleging Discrimination in Texas A&M Faculty Fellowship Program
A federal judge has dismissed a lawsuit brought against Texas A&M University claiming a faculty fellowship program at the flagship in College Station discriminated against white and Asian male candidates. In a decision published Friday, U.S. District Judge Charles Eskridge …
Read More Iowa Farmers Eligible for $5 per Acre Discount on Spring Crop Insurance Premiums for Planting Fall Cover Crops
Iowa farmers and landowners who plant fall cover crops will soon have the opportunity to apply for a $5 per acre discount on their spring crop insurance premiums, Iowa Secretary of Agriculture Mike Naig announced. Farmers and landowners may start …
Read More As Criminal Trial Opens, FTX’s Bankman-Fried Battles Excess Insurer Over D&O Coverage
Just two days before his criminal trial started this week in federal court in New York, FTX Trading founder Sam Bankman-Fried filed suit in federal court in California against his excess insurance company seeking payment of legal costs. The suit …
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