Insurance
People Moves: Tiesi Joins Canopius as US Head of Financial Lines
Canopius Group, headquartered in Chicago, named John Tiesi as U.S. Head of Financial Lines. Tiesi leads the financial lines portfolio across Canopius’ U.S. operations. Tiesi has over 25 years of experience in financial and professional liability underwriting, with expertise in …
Read More Universal Music Settles Lawsuit With AI Startup Udio
Universal Music Group NV signed an agreement with artificial intelligence-powered music startup Udio to settle a copyright lawsuit and collaborate on a new commercial music creation and streaming service. Udio will launch the new platform next year, powered by AI …
Read More France Makes New Arrests in Louvre Heist; Jewels Still Not Found
Five more people have been arrested in the Louvre heist case, the Paris prosecutor said Thursday, after two alleged members of the group that stole jewels from the museum were charged. Authorities linked one of the new individuals detained to …
Read More Insurers Begin Restricting Privacy Coverage in Response to Evolving Risk
After several years of competitive pricing and capacity expansion, cyber insurers appear to be reassessing coverage breadth. Asked whether carriers are beginning to restrict coverage, panelists at Zywave’s Cyber Risk Insights conference in New York this week said there are …
Read More California Attorney General Charges Eight in Bay Area Auto-Theft Ring
The California Attorney General filed felony charges against eight people in connection with the theft of 19 vehicles throughout the U.S. with a combined value of more than $800,000. The complaint, filed in Alameda County Superior Court by Attorney General …
Read More Washington Supreme Court Restores $185M Monsanto Chemical Leak Verdict
A U.S. court reinstated a $185 million verdict against Bayer’s Monsanto unit over chemical contamination at a Washington state school on Thursday. The Washington state Supreme Court reversed a lower court ruling that had vacated the verdict in a 2021 …
Read More GM to Cut EV, Battery Production and 1,200 jobs at Michigan Plant
General Motors GM.N said on Wednesday it will cut U.S. electric vehicle and battery production and 1,200 factory jobs at its EV plant in Detroit along with 550 jobs at an Ohio battery plant as the automaker responds to a …
Read More WTW Reports Flat Q3 Revenue of $2.29 Billion, With Organic Growth of 5%
WTW reported third quarter revenue of $2.29 billion, flat with $2.29 billion for Q3 2024, which the broker attributed to the sale of its direct-to-consumer insurance distribution business, TRANZACT. WTW reported organic growth of 5% for the quarter, compared with …
Read More Michigan Acquires Shipwreck Artifact in Unusual Settlement Agreement
The state of Michigan has acquired a life ring that washed ashore 50 years ago from the Edmund Fitzgerald, a rare artifact that strangely became part of a settlement in a lawsuit that had nothing to do with the famous …
Read More Texas Backs Permian Gas-Fired Power Plant With $1.1B Loan as AI Demand Soars
Texas is backing a proposed Permian Basin power plant fueled by natural gas with a $1.1 billion low-interest loan, the largest such project under a state program aimed to shore up supplies after widespread blackouts in 2021. Competitive Power Ventures …
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