INSURANCE NEWS
US Seeks More Than $1 Billion From Collapsed SVB for Taxes
The US Internal Revenue Service is seeking to recover about $1.4 billion in taxes it claims are owed by Silicon Valley Bank, the regional lender that failed last year. The federal tax agency claims the California-based lender owes both corporate …
Prudential Reports Unauthorized Access to Its Computer Systems
Prudential Financial has disclosed a hacker gained unauthorized access to its systems earlier this month. In a Feb. 13 filing with the U.S. Securities and Exchange Commission, Prudential said that on Feb 5 it detected a threat actor — believed …
Commercial Real Estate Trouble Evident in Fading Downtown Construction
When Rahm Emanuel ran Chicago and wanted to boast about the health of the city, the then-mayor pointed to the number of construction cranes across the skyline — 60 at the end of 2017. Almost five years after he left …
South Carolina House Endorses Paid Family Leave Insurance Bill
The South Carolina House of Representatives has approved a framework for paid family leave insurance in the state, sending House Bill 4832 to the Senate. By a vote of 110-0, the House last week passed the bill that would allow …
New York Attorney General Triples Size of Crypto Fraud Lawsuit to $3 Billion
New York Attorney General Letitia James on Friday expanded her lawsuit against Digital Currency Group and other cryptocurrency defendants, tripling the size of their alleged fraud scheme to more than $3 billion. James had in October sued DCG, its Genesis …
SAIF in Oregon Reports Ice Caused Most Workplace Slips, Trips, Falls in 7 Years
SAIF in Oregon, which reported receiving 400-plus claims after January’s winter weather, said more Oregon workers were injured from slips, trips, and falls due to snow or ice than during any other storm since January 2017. SAIF, Oregon’s not-for-profit workers’ …
AIG General Insurance Q4 Income Up 19% on Underwriting, Investments
American International Group (AIG) during the fourth quarter 2023 recorded underwriting income of $642 million within its General Insurance segment — a slight increase from $635 million during the same quarter the prior year. Adjusted pretax income (APTI) in the …
Viewpoint: The Cyber Risk Pendulum
Privacy risk is so 2014, right? Ten years ago, numerous retail and healthcare companies were hit with data breaches related to the exposure of credit card or healthcare data. Given many data breach claims, which included fines by state attorney …
Nearly 75% of Employers Don’t Have AI Protocols for Internal Communications: Study
Despite organizations’ increased adoption of artificial intelligence (AI), 71% don’t provide internal guidance on when, where or how to use the technology, according to Gallagher’s 2023/24 State of the Sector report. Drawing on insights from more than 2,300 communication and …
Woman Killed After She Opened Fire in Joel Osteen’s Megachurch
HOUSTON (AP) — A woman in a trenchcoat opened fire with a long gun Sunday inside celebrity pastor Joel Osteen’s megachurch in Texas, sending worshippers rushing to find safety while two off-duty officers confronted and killed the shooter. Two other …
People Moves: JM Wilson Makes New Hires and Promotions Nationwide
JM Wilson, headquartered in Portage, Michigan, made several new hires and promotions in offices across the country. Katie Priester Bird joined the company as a property and casualty underwriter. Bird previously held roles in credit card dispute resolution for PNC …
Nevada Jury Awards $130M to 5 People With Liver Damage After Drinking Bottled Water
A Nevada jury awarded about $130 million in damages in a lawsuit filed by five people who suffered liver damage after drinking bottled water marketed by a Las Vegas-based company before the product was recalled from store shelves in 2021. …