INSURANCE NEWS
Microsoft, OpenAI Hit With New Lawsuit by Authors Over AI Training
OpenAI and its financial backer Microsoft were sued on Friday in Manhattan federal court by a pair of nonfiction authors who say the companies misused their work to train the artificial-intelligence models behind the popular chatbot ChatGPT and other AI-based …
Affinity Hires Revenue Chief, NC DOI Elevates Counsel to Chief Operating Officer
Affinity Advisors, providers of a digital platform for securing specialty insurance, has named a former Aon and Marsh McLennan executive to be chief revenue officer. Andrew Suesserman, who spent 12 years with Marsh and Aon, will move into his new …
North Carolina Rate Bureau Wants 42% Hike in Residential Property Insurance Rates
The North Carolina Rate Bureau, basing its calculations on input from 197 property insurance companies, has asked for a 42% average increase in homeowners insurance rates, to take effect Aug. 1. The rate bureau’s double-digit requests in recent years have …
Florida Bills Would Provide Millions in Flood Mitigation, Elevation Grants
Florida’s wind-mitigation grant program for homeowners has proven to be so popular that the governor has proposed another $107 million for it this year, and some experts have called home fortification the only way to significantly reduce insurance losses from …
Oregon Judge Refuses to Dismiss 2015 Climate Lawsuit Filed by Youth
A judge in Oregon rejected a U.S. Department of Justice request to dismiss a 2015 lawsuit brought by young people that alleges the federal government knew the dangers posed by carbon pollution but that it has continued through policies and …
Inigo Issues 3rd Catastrophe Bond for $100 Million
Inigo Ltd. announced it has issued its third catastrophe bond for $100 million via Montoya Re Ltd. The cat bond will cover North American named storms and earthquakes and will use a PCS industry loss index trigger. The coupon is …
Google Must Bargain With YouTube Worker Union, US Labor Board Rules
Alphabet Inc’s Google violated U.S. labor law by refusing to bargain with a union representing contract workers for YouTube Music, a federal agency has ruled. The National Labor Relations Board (NLRB) in a decision on Jan. 3 rejected claims by …
People Moves: Gallagher Taps AIG’s Loesti as Chief Commercial Officer of European Broking; QBE Re Promotes 3 Global Product Heads in New York, London
Gallagher Taps AIG’s Loesti as Chief Commercial Officer, European Broking Nepomuk (Nepo) Loesti has joined Gallagher as chief commercial officer of its European broking operations. The newly created role will support the expansion of Gallagher in Europe, outside of the …
Driverless Truck Companies Plan to Ditch Human Copilots in 2024
Driverless trucks with no humans on board will soon cruise Texas highways if three startup firms have their way, despite objections from critics who say financial pressures, not safety, is behind the timetable. After years of testing, Aurora Innovation Inc., …
US Supreme Court to Hear Challenge to EPA’s ‘Good Neighbor’ Air Pollution Plan
The U.S. Supreme Court on late last month said it would hear a bid to block the Environmental Protection Agency from enforcing a federal regulation aimed at reducing ozone emissions that may worsen air pollution in neighboring states. Acting on …
Flooding at Boston Hospital Disrupts IVF Services for 200 Patients
Flooding from a burst water main at Boston`s Brigham and Women’s Hospital has disrupted services for about 200 patients seeking to have children through in vitro fertilization, leaving some of them devastated. The pipe burst about 1 a.m. on Christmas …
FDA Allows Florida to Import Cheaper Drugs from Canada
(Reuters) – The U.S. Food and Drug Administration (FDA) said on Friday it had authorized Florida to directly import prescription drugs from Canada, where prices of medicines are cheaper. The regulator said it was committed to working with other states …