INSURANCE NEWS
El Niño Expected Between September and November: Australian Weather Bureau
Australia’s weather bureau said on Tuesday the El Niño weather event, associated with hotter, drier weather, was likely to hit during the southern hemisphere spring, between September and November. El Niño, characterized by elevated sea surface temperatures in the eastern …
Typhoon Lan Grounds Flights, Halts Trains as It Crosses Japan
Typhoon Lan reached the coast of central Japan early Tuesday, grounding flights and halting trains as residents braced for heavy rain, flooding and landslides. Known locally as Typhoon No. 7, the storm has been traversing the archipelago’s central belt since …
Ships Remain Backed Up in Black Sea Lanes as Russia Warning Shots Raise Tensions
Merchant ships remained backed up in lanes around the Black Sea on Monday as ports struggled to clear backlogs amid growing unease among insurers and shipping companies a day after a Russian warship fired warning shots at a cargo vessel. …
Fintech Vesttoo Seeks Chapter 11 Bankruptcy Protection
Israel-based fintech Vesttoo is seeking Chapter 11 bankruptcy protection in a U.S. court which will enable it to pursue legal action against those responsible for a fake collateral scandal, it said in a statement on Monday. Vesttoo – partly backed …
Don’t Expect Quick Fixes in ‘Red-Teaming’ of AI Models; Security Was an Afterthought
White House officials concerned by AI chatbots’ potential for societal harm and the Silicon Valley powerhouses rushing them to market are heavily invested in a three-day competition ending Sunday at the DefCon hacker convention in Las Vegas. Some 3,500 competitors …
People Moves: MCIEF Names Schoonover to Education Director Spot
The Motor Carrier Insurance Education Foundation (MCIEF) has named Jim Schoonover its new education director. He succeeds Tommy Ruke who founded the organization in 2013. Schoonover, whose mission will be to educate transportation industry insurance professionals, began as a school …
Alabama Tow Truck Operator Set for Trial on Overcharging Insurance Companies
One of five Alabama tow truck operators charged with overcharging insurance companies will go to trial in April, almost four years after the men were hit with insurance fraud charges. Danny Williams, owner of Southport Towing, in Mobile, Alabama, was …
Carolina Roller Coaster Reopens After Large Crack Repaired and Tested
A towering North Carolina roller coaster that shut down in June due to a large crack in its support column reopened Thursday after a month of repairs and testing, the park announced on its website. Carowinds amusement park, which straddles …
New Jersey Supreme Court Backs Catholic School in Firing of Unwed, Pregnant Teacher
The New Jersey Supreme Court has ruled in favor of a Roman Catholic school that fired a teacher who became pregnant out of wedlock. The high court found that where an employment decision is clearly based on the tenets of …
Estimate of Losses From Devastating Hawaii Wildfires Increases to $14B-$16B
AccuWeather increased its estimate of the total damage and economic loss from the devastating wildfires burning in Hawaii to $14 to $16 billion. The update follows AccuWeather’s preliminary estimate last week of total damage and economic loss of $8-10 billion. …
Montana Youth Climate Activists Get Historic Win in State Case
A state judge ruled Monday that Montana’s oil and gas policies are infringing on young people’s constitutional rights to a safe environment, handing a big win to youth climate plaintiffs. An adjustment to the Montana Energy Policy Act (MEPA)—which limits …
Arkansas Restaurant Chain Sued for Sexual Harassment
Simply Slims, L.L.C., and or Dixie Chicken, L.L.C. d/b/a Slim Chickens in Hot Springs, Arkansas, violated federal law when it subjected a class of teens and young adults to sexual harassment and a sexually hostile work environment, the U.S. Equal …