Insurance

The wildfires sweeping through Los Angeles are unlikely to trigger significant losses for catastrophe bonds designed to capture such risks. Roughly 12% of the $50 billion cat-bond market is currently exposed to wildfire risk, according to Florian Steiger, chief executive …

Meta Platforms used pirated versions of copyrighted books to train its artificial intelligence systems with approval from its CEO Mark Zuckerberg, a group of authors alleged in newly disclosed court papers. Ta-Nehisi Coates, comedian Sarah Silverman and other authors suing …

With aerial firefighting returning as strong Southern California winds died down for a bit, damage assessments from a handful of destructive Los Angeles area blazes are sure to become clearer—likely pushing up billion-dollar-plus insured loss estimates put forth from fires …

Insurance broker Hub International Limited has acquired the assets of Byrnes Agency, Inc. in Connecticut. Terms of the transaction were not disclosed. Founded in 1932, Byrnes Agency is located in Dayville and Norwich. The agency offers a full line of …

GuideOne Insurance, headquartered in West De Moines, Iowa, appointed Wei Huang to its board of directors. Huang, who serves as the senior vice president and senior client investment officer at Northern Trust Asset Management, has over two decades of experience …

ZestyAI, a provider of AI-powered climate and property risk analytics solutions, has received regulatory approval from the Missouri Department of Insurance for its Severe Convective Storm suite, including Z-HAIL, Z-WIND, and Z-STORM. ZestyAI’s Severe Convective Storm suite has already received …

The Green Bay Packers’ online store was hacked in September and October, the franchise said in a data breach filing this week. A third party threat actor inserted a malicious code on the Packers’ Pro Shop website between September 23-24 …

Texas farmers tepidly celebrated last month after Congress barely managed to extend a package of laws meant to aid the nation’s agriculture industry and feed low-income Americans. The clock is now ticking for federal lawmakers to pass a new, updated …

A winter storm that brought snow to Dallas and threatens the US South with ice and sleet has grounded more than 1,000 flights and is raising the risk of power outages through the region. As of 8 a.m. Dallas time …

Flooding poses the greatest threat to supply chains this year, as warm ocean temperatures fuel more frequent and disruptive storms, including powerful hurricanes, according to a report. Ocean temperatures are expected to be elevated in 2025 and beyond, meaning disruptive …