Insurance

A company that snatched up distressed brick-and-mortar brands including RadioShack and Pier 1 Imports and promised investors big returns in a pivot to e-commerce operated as a Ponzi-like scheme, the US Securities and Exchange Commission alleged. When the pandemic sparked …

Atlanta-based insurance and benefits brokerage OneDigital is the beneficiary of a $2.3 billion investment – a majority stake to be taken by the Canada Pension Plan and Stone Point Capital. The investment comes through an acquisition of a stake from …

LP Insurance named Heather Thompson as its first chief financial officer. Thompson joined LP in 2018 as a financial analyst and was promoted to controller, overseeing all of LP’s accounting and finance operations in 2022. As CFO, she leads LP’s …

California-based ALKEME Insurance reports it has acquired Gotham Brokerage Co., a New York City insurance agency specializing in insurance for condos, co-ops, and apartments with a concentration in the high-value real estate markets of Brooklyn and Manhattan. The acquisition enhances …

Root Insurance has brought its driving behavior insuring pricing model to Washington in an expansion of its West Coast footprint. Root now offers its product to drivers in Washington, Oregon and California. Root’s model is designed to measure driving behaviors …

Michigan Attorney General Dana Nessel has reached two settlement agreements with the current and past owners of a paper mill in White Pigeon, Michigan. The two settlements secure funding for response activities to address per- and polyfluoroalkyl substances (PFAS) released …

A man who set fires at two mosques in Minnesota in 2023 pleaded guilty to federal charges Wednesday, federal prosecutors said. Jackie Rahm Little, 38, admitted to one count of arson and one count of damage to religious property for …

AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of “bbb” (Good) of National Unity Insurance Company …

The father of a teenager who died by suicide this spring delivered emotional congressional testimony, alleging OpenAI’s ChatGPT “groomed” his 16-year-old son to take his own life and the company prioritized speed and market share over youth safety. “We’re here …

Bank of England Governor Andrew Bailey said on Monday that he and other regulators who oversee the financial services industry should use artificial intelligence to help them spot problems among the firms that they supervise. “I think we’ve all got …