INSURANCE NEWS
US Regulators Add Artificial Intelligence to Potential Financial System Risks
Rapid adoption of artificial intelligence (AI) could create new risks for the U.S. financial system if the technology is not properly supervised, a panel of regulators warned on Thursday. The Financial Stability Oversight Council, which comprises top financial regulators and …
New Research Shows Renters Are Hit the Hardest When a Hurricane Strikes
Newswise — With a severe shortage of affordable housing in the United States, renters living along the East and Gulf coasts are uniquely vulnerable to hurricane disasters. Two new studies based on data from 2009 to 2018 show that renters …
NOAA: Arctic Summer Surface Air Warmest on Record
A report out this week from the National Oceanic and Atmospheric Administration shows the Arctic summer surface air temperatures were the warmest on record, with some areas, including northern Alaska and Canada, 7.2 degrees Fahrenheit or more above the 1991-2020 …
Lawsuit Alleges Ex-Harvard Medical Professor Secretly Impregnated Patient
A former professor at Harvard Medical School and founder of one of the nation’s largest fertility clinics is being accused of secretly impregnating a patient in 1980 after promising the sperm would come from an anonymous donor, according to a …
Man Sues New York City After 27 Years in Prison Before Being Cleared in Killing
A man who was recently cleared in the gruesome, fiery 1995 killing of a subway token booth clerk sued New York City and two detectives on Monday, saying that “a wanton and reckless” law enforcement culture subjected him to decades …
People Moves: Woodruff Sawyer in California Names Parsons National Private Equity & Venture Capital Group Leader
Woodruff Sawyer named Luke Parsons the firm’s national private equity and venture capital practice group leader. Parsons was previously senior vice president of Woodruff Sawyer’s private equity and due diligence teams. He was named partner and senior vice president in …
Massachusetts Farmers Get $20 Million in Disaster Relief After Rough Year
It was a rough year for many Massachusetts farmers who experienced a deep February freeze, a late May frost event, and catastrophic flooding in July. To help them recover from the damage, the Healey-Driscoll Administration announced that the state’s Natural …
California Workers’ Comp Public Self-Insured Claim Volume, Total Paid and Incurred Losses Fall
Initial data on fiscal year 2022/23 public self-insured claims experience in the California workers’ compensation system show that public self-insured’s total claim volume, spurred by a sharp drop in indemnity claims, fell 16.8% in the 12 months ending June 30 …
Oklahoma Insurance Department Adopts Surplus Lines Automation Suite
The Oklahoma Insurance Department announced the adoption of the Surplus Lines Automation Suite (SLAS) for the reporting and payment of all Oklahoma surplus lines premium taxes beginning January 1, 2024. For all Oklahoma policies effective January 1, 2024, and after …
People Moves: XPT Specialty Adds Swift to Brokerage Team; Alliant Names Davis Employee Benefits VP in Kansas City
Swift Joins XPT Specialty Brokerage Team XPT Specialty, headquartered in New York, N.Y., hired Ben Swift as an underwriter/broker specializing in commercial binding accounts for Midwest retailers. Before joining XPT, Swift served as a senior commercial underwriter at Chubb Insurance, …
US Officials Say Russian Hackers Are Launching Potential SolarWinds-Style Operations
U.S. officials say that Russian hackers are targeting servers hosting outdated versions of software made by the Czech tech company JetBrains for potential SolarWinds-style espionage operations. In a statement released on Wednesday, the U.S. National Security Agency, the FBI and …
NHTSA Opens Probe Into 447,000 VW, Audi Vehicles
A U.S. auto safety regulator said on Thursday it is opening an investigation into 447,000 Volkswagen Golf and Audi A3 and cars over fuel leak reports and whether a 2016 recall adequately addressed the issue. The National Highway Traffic Safety …