INSURANCE NEWS
Tugboat Captain Charged in Crash That Killed 3 Girls from Miami Sailing Camp
A tugboat captain has been charged in a deadly Miami collision in July that killed three girls from a sailing camp, federal prosecutors said Tuesday. Yusiel Lopez Insua, 46, of Miami, faces a charge of seaman’s manslaughter in the crash, …
Fleet Lender Pays $1.64M to California to Settle False Claims Allegations
A commercial fleet lender is paying $1.64 million to settle allegations it made false claims to take advantage of a loan loss insurance program. California Attorney General Rob Bonta settled with Crossroads Equipment Lease and Finance over alleged false claims …
New York Restaurateur Charged In No-Fault Auto Insurance Fraud Scheme
Federal law enforcement officials report they arrested Zhan Petrosyants, charging him with operating an extensive no-fault automobile insurance fraud scheme that involved submitting tens of millions of dollars in fraudulent medical claims and laundering the proceeds. Petrosyants, 44, also known …
Jury Can’t Reach Verdict in Corruption Trial of Fired FirstEnergy Execs
Jurors failed to reach a verdict on Tuesday in the corruption trial of two fired FirstEnergy Corp. executives charged with alleged roles in a $60 million scheme to bribe politicians for a $1 billion nuclear bailout and other favors. The …
Warmer Winters Causing Costly Water Pollution Crisis
When pollution gets bad enough in the rivers supplying Iowa’s largest city with drinking water, it costs Des Moines around $16,000 a day to run a special system to filter out dangerous nitrates. It’s a fact of life in the …
Stolen Renoir, Cézanne and Matisse Were Probably Uninsured, Market Sources Say
Three paintings by French masters Pierre-Auguste Renoir, Paul Cézanne and Henri Matisse stolen from a museum in northern Italy last week were probably not insured, according to market sources. One fine art underwriter told the Reuters publication The Insurer that …
UK Motor Finance Scandal to Cost Lenders $12 Billion
The motor finance industry must pay around 9.1 billion pounds ($12 billion) to compensate UK motorists for unfair vehicle loans under the market regulator’s trimmed, final bill for one of Britain’s costliest financial mis-selling scandals. The headline number, unveiled by …
Secret Codes and Yuan Fees Get Ships Through Iran’s Hormuz Tollbooth
In recent days, the operator of an oil tanker stuck in the Persian Gulf received a compelling proposal. After weeks at anchor with missiles and drones passing overhead, it could finally sail safely out through the Strait of Hormuz and …
Hopes Dim for Swift End to Iran War After Trump Speech, Oil Prices Surge
Hopes for a swift end to the Middle East war faded on Thursday after U.S. President Donald Trump vowed more aggressive strikes on Iran, disappointing investors hoping for clearer signals of a way out of the month-long conflict. Stocks slid, …
Meet the New AI Coworker Who Won’t Stop Snitching to Your Boss
The Slack messages began arriving at 5:47 a.m. on a recent Monday. Three sales proposals had gone out the previous week and none of the team members had scheduled follow-ups. The reminders were crisp, professional and relentless — and they …
People Moves: Kalepa Appoints Howell as Head of Product
Kalepa, headquartered in New York City, appointed Audrey Howell as head of product. Howell will lead Kalepa’s product vision and strategy, driving innovation and AI advancements across the platform. Howell has over a decade of product leadership experience building technology …
Baidu Robotaxis Freeze Mid-Ride in Wuhan, Trap Passengers
A number of Baidu Inc.’s Apollo Go robotaxis suddenly stopped on the streets of China’s Wuhan city on Tuesday, trapping passengers in vehicles and raising concerns about the safety and reliability of autonomous driving technology. Wuhan police received multiple reports …