INSURANCE NEWS

Business Moves: HDI Global UK & Ireland Secures Approval Toward New Syndicate; Cedar Trace to Launch $300M Lloyd’s Syndicate for 2027

HDI Global UK & Ireland (HDI) said it received approval in principle from Lloyd’s to establish a new Lloyd’s syndicate, marking a significant milestone in the implementation of the firm’s wider Xcelerate29 strategy. The approval in principle enables HDI to …
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EPA Proposal Could Leave the Public in the Dark on Data Center Plans

A plan by the Environmental Protection Agency could make it harder for the public to learn about and comment on proposed AI data centers that have sparked backlash in communities across the United States and transformed the midterm election landscape. …
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China Injects $45 Billion in Banks, Insurers to Boost Growth

China is injecting 300 billion yuan ($45 billion) into its largest banks and insurers, part of the nation’s biggest recapitalization in almost two decades, to shore up the strength of its financial system and sustain lending as economic growth slows. …
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Canada Loses 41,700 Jobs as Employment Shrinks in Finance

Employment in Canada fell by 41,700 in August, reversing some of the labor market momentum seen in recent months as the manufacturing sector posted the only significant increase. The jobless rate held steady at 6.4% while job losses were concentrated …
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Viewpoint: Reinsurance Market to Experience Further Softening, M&A on Ample Capacity

The global reinsurance market maintains a very strong capital position that has benefitted from favorable earnings in recent years, with solid underwriting profits and resilient investment returns. However, this record capacity from both traditional reinsurers and alternative capital markets continues …
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Seattle Times, Newsday Sue OpenAI, Microsoft, Alleging Copyright Infringement

The Seattle Times and Newsday sued OpenAI and Microsoft on Friday, alleging in federal court that the tech companies copied the newspapers’ journalism without permission to train their AI systems. The suit in the U.S. District Court for the Southern …
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OpenAI Top Scientist Urges ‘Extreme Caution’ With Pace of AI

OpenAI’s top scientist has warned that artificial intelligence is evolving so rapidly that it is becoming increasingly difficult for humans to understand and control,and said he expects AI labs to voluntarily slow development for safety reasons. In a relatively short …
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People Moves: Vivace Names Fenig CEO; Murray Joins Alliant’s Southern California Benefits Team; DUAL North America Adds Fowler as SVP

Vivace Insurance Partners Appoints Fenig as CEO Vivace Insurance Partners named Cordell Fenig CEO of Vivace Americas. Fenig was promoted to the position after having served as senior underwriter since the company’s Americas launch in March 2024. Fenig will lead …
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Arizona Group Home Provider in Scandal Escapes Penalties for Boy’s Death

The staff caring for Jakob Blodgett said he already had been sneaking candy and refused to take his insulin. An employee at the Arizona group home where the 9-year-old boy was being cared for texted a supervisor about the boy’s …
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GEICO Avoids Class Action Over Totaled Vehicle Payouts in New Jersey

A federal judge has declined to approve a class action lawsuit accusing GEICO of underpaying losses for totaled vehicles in New Jersey. The court declined to approve the class after concluding that individual issues outweighed the commonality of the proposed …
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Viewpoint: How the Federal Ban on Intoxicating Hemp Products Will Reshape Risk and Coverage

I have been writing about the insurance risks of intoxicating hemp products since 2021, when delta-8 THC gummies first started showing up in convenience stores and gas stations across the country. Back then, our message to the cannabis, hemp and …
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Viewpoint: How Federal Ban on Intoxicating Hemp Products Will Reshape Risk, Coverage

I have been writing about the insurance risks of intoxicating hemp products since 2021, when delta-8 THC gummies first started showing up in convenience stores and gas stations across the country. Back then, our message to the cannabis, hemp and …
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