INSURANCE NEWS
SEC Sues Binance and Founder Zhao Over ‘Web of Deception’
U.S. regulators sued Binance and its CEO Changpeng Zhao on Monday for allegedly operating a “web of deception,” piling further pressure on the world’s biggest cryptocurrency exchange and sending bitcoin to its lowest in almost three months. The Securities and …
Industry Alliance Outlines Key Liability Risk Considerations in Insuring AI
Artificial intelligence and its uses are a hot topic these days. Some benefits of AI include efficiency in time and resources, but what happens when an AI-related error or failure occurs? Liability insurance relating to damages caused by an AI …
Massachusetts City Faces Lawsuit Alleging Police Misconduct at George Floyd Protest
Eleven people have filed a federal lawsuit saying they were assaulted by police or wrongfully arrested while peacefully observing a June 2020 protest in Massachusetts’ second-largest city over the killing of George Floyd. The lawsuit filed last Thursday names as …
Connecticut Governor to Sign Gun Control Bill Banning Open Carry, Assault Weapons
A slate of gun control measures was headed Saturday to Connecticut Gov. Ned Lamont’s desk, after an all-night state Senate debate and early morning vote to approve the state’s most wide-ranging gun legislation since the laws that followed the 2012 …
BA, BBC and Boots Caught Up in File Transfer Hack
Tens of thousands of employees of British Airways, the UK drugstore chain Boots and Britain’s BBC were among those whose personal data was exposed following a wide-ranging breach centered on a popular file transfer tool, the organizations confirmed on Monday. …
Canada on Track to See Worst-Ever Wildfire Season
Canada is on track to see its worst-ever wildfire season in recorded history if the rate of land burned continues at the same pace. The country is experiencing an unprecedented amount of fire activity for this early in the season, …
Texas Insurance Carriers Reported Nearly 100K COVID Claims: DWC Factsheet
Texas insurance carriers reported nearly 100,000 COVID-19 claims and 472 fatalities to the Texas Department of Insurance, Division of Workers’ Compensation (DWC), according to a factsheet released this week by DWC. More than two-thirds of all COVID-19 claims (72%) involved …
Lightning Suspected Cause in Louisiana Tank Fire
LAKE CHARLES, La. (AP) – An evacuation order was lifted early Sunday for residents near a southwest Louisiana refining company where lighting is believed to have sparked a fire at a chemical storage tank. The fire at Calcasieu Refining in …
Michigan Wildfire Sparked by Campfire on Private Land
GRAYLING TOWNSHIP, Mich. (AP) – A Michigan wildfire that’s burned more than 3 square miles (7.7 square km) amid hot, dry conditions was sparked by a campfire, the state Department of Natural Resources said Sunday. The Wilderness Trail Fire in …
Body of Missing Man Recovered at Iowa Apartment Collapse Site; Two Others Still Missing
DAVENPORT, Iowa (AP) – The body of one of three men who had been missing after the partial collapse of an apartment building in Davenport, Iowa, has been found, a city official confirmed Sunday. Branden Colvin Sr.’s body was recovered …
Signaling System Error Caused India’s Worst Train Crash in Decades: Railways Minister
The train derailment in eastern India that killed more than 300 people and injured hundreds more was caused by an error in the electronic signaling system that led a train to wrongly change tracks, India’s railways minister said Sunday. ”Who …
UK Widens Lead as Europe’s Top Draw for Financial Services Investors
For all the gloom around the impact of Brexit on the City of London, the latest survey of Europe’s top destinations for foreign direct investment in financial services is a reminder of the UK’s continuing heft in the sector. Britain …