INSURANCE NEWS
Arctic Freeze Deepens Europe’s Travel and Power Strains
A wave of Arctic air blanketed Europe with frigid weather and intense snowfall, snarling travel and triggering power outages in some areas. Northerly winds driven by high pressure systems in the Atlantic and Arctic caused temperatures to plummet Monday and …
Governments, Regulators Increase Scrutiny of Chinese AI Startup DeepSeek
Chinese AI startup DeepSeek, which said in January it had developed an AI model to rival ChatGPT at much lower cost, has come under scrutiny in some countries for its security policies and privacy practices. According to its own privacy …
Nestle Recalls Infant Formula Batches in 25 Countries Over Toxin Risk
Nestle said it was recalling some batches of its infant nutrition products, including SMA, BEBA and NAN formulas, mostly in Europe, due to possible contamination with a toxin that can cause nausea and vomiting. The recall, which began on a …
Viewpoint: The Convergence of Autonomy and Intelligence Is Reshaping Insurance
The adoption of AI in insurance is a mixed bag, marked by ambitious experimentation on one hand and structural hesitation on the other. The intent to deploy AI is high, and the expectations are rising just as quickly. Recent industry …
Private Equity Firms Expected to Unleash Middle-Market M&A Deals, Survey Says
M&A activity is expected to rise among midsize companies as private equity firms become more willing to do deals, according to a Citizens Financial survey of about 400 companies. Executives at middle market companies and private equity firms are optimistic …
People Moves: Doss Assumes Role of Vice President, Personal Lines Underwriting; The Jacobson Group Appoints Pinkham as CEO; Greg and Rick Jacobson Transition to Board Leadership
Doss Assumes Role of Vice President, Personal Lines Underwriting Justin Doss assumed the role of vice president, personal lines underwriting at RLI Corp., headquartered in Peoria, Illinois. In this executive role, he will lead underwriting and distribution strategy for RLI’s …
People Moves: W. R. Berkley Makes Executive Appointments; Everest Group Names Habayeb CFO
W.R. Berkley Corp., headquartered in Greenwich, Connecticut, named Lee Iannarone executive vice president. He is succeeded by Stephen Kennedy, who has been named senior vice president and general counsel. Iannarone began his tenure with the company in 2023 as senior …
Volkswagen, Porsche Recall Over 500,000 Vehicles With Rearview Camera Glitch
Problems with the rearview mirror have forced Porsche and now parent company Volkswagen to recall over half a million vehicles collectively in the United States, where the National Highway Traffic Safety Administration announced the latest round of measures on Tuesday. …
Relief But Questions on Agents’ Duties to Insureds After Florida Court Ruling
Florida insurance agents and brokers can breathe at least a little easier after a state appeals court effectively reversed hefty damages in a case that had threatened to expand agents’ duties to insureds as well as their liability in coverage …
New Jerseyans Get $86 Million in Medical Debt Relief
New Jersey Governor Phil Murphy announced that more than 53,000 residents will see a combined $86 million in medical bills abolished as a result of the state’s ongoing partnership with national nonprofit Undue Medical Debt. This marks the state’s sixth …
New York Regulates Consumer Litigation Financing
New York State has a new law that regulates the industry that provides consumers with funds for living expenses while their legal cases are in process in exchange for a share of any settlement or judgment. Under such contracts, consumers …
JPMorgan, Citi Extending Mortgage Relief for LA Wildfire Victims
California Gov. Gavin Newsom said a group of major banks have agreed to extend mortgage relief for Los Angeles wildfire victims, as the area struggles to rebuild one year after the devastating blazes. Wells Fargo & Co., JPMorgan Chase & …