INSURANCE NEWS
Willis’ Haitsch: Insurance Industry Swiftly Adjusts to the Data Center Boom
The insurance market is “scaling along with the opportunity” presented by a massive boom in data centers to meet the power demands of artificial intelligence, said George Haitsch, North American tech, media, and telecommunication leader at broker Willis. Speaking at …
Appeals Court Delivers Split Ruling on Michigan’s Renewable Energy Regulations
A state appeals panel last week upheld the bulk of Michigan’s regulations limiting local control over renewable energy projects, while rejecting narrow aspects that critics had decried as regulatory overreach. The three-judge Michigan Court of Appeals panel ruled that state …
Boat Explodes Near Miami, Injuring a Dozen People
About a dozen people were taken to hospitals with injuries Saturday after a boat explosion near Miami, the Miami-Dade Fire Rescue agency said. The charter boat was in Biscayne Bay, near Haulover Sandbar, when the blast erupted on board, according …
GM to pay $12.75 Million to Settle California Driver Privacy Probe
GM has agreed to pay $12.75 million to resolve a California investigation into allegations that the Detroit automaker illegally sold two data brokers detailed information about the driving habits of hundreds of thousands of Californians, state Attorney General Rob Bonta …
Trump Dismisses Iran’s Offer, Oil Rises as Hormuz Closure Persists
President Donald Trump’s swift rejection of Iran’s response to a U.S. peace proposal pushed oil prices higher on Monday, fueling concerns that the 10-week-old conflict will drag on and continue to paralyze shipping through the Strait of Hormuz. Days after …
TikTok Must Face Massachusetts Lawsuit Alleging It Harms Young Users
A Massachusetts trial court judge has denied TikTok’s bid to dismiss the lawsuit against it by the Commonwealth of Massachusetts alleging that its popular social media video sharing site is intentionally designed to be addictive and harmful to young users …
Hedge Funds Make Their Move as Litigation Finance Assets Slump
A losing streak in litigation finance is attracting hedge funds and other alternative investment managers looking to invest in legal claims at distressed valuations, according to people familiar with the matter. Firms working in distressed-debt special situations including Davidson Kempner …
Seoul Condemns Strike on Vessel in Strait of Hormuz as Probe Continues
South Korea strongly condemned what it described as an attack on a civilian cargo vessel in the Strait of Hormuz after a government investigation found the ship was struck by unidentified objects, though it stopped short of assigning blame. “Attacks …
Ships’ Signals Go Haywire as Hormuz Strait Tensions Escalate
Geolocation data for some ships in the Persian Gulf showed locations and speeds that defied logic, pointing to an increase in signal interference following fresh attacks by Iran on neighboring countries. The tracking data showed about 120 vessels in a …
People Moves: Da Costa to Head Markel US Cyber, Tech E&O; Brown & Riding Names Kerr Leader of Private Client Practice
Markel Insurance Appoints Da Costa to Lead U.S. Cyber and Tech E&O Portfolio Markel, the insurance operations within Markel Group Inc., appointed Raphael Da Costa to lead its U.S. cyber and tech E&O portfolio. Da Costa oversees Markel’s U.S. cyber …
Ex-Ohio State Players to Join a Sexual Abuse Lawsuit Against the School
Thirty former Ohio State football players, including some former NFL players, have agreed to join a federal lawsuit against the university over the sexual abuse of student athletes decades ago by a team doctor, a lawyer in the case said …
Explosion and Fire at New Orleans Area Refinery to Cause Production Disruption
No injuries were reported after an explosion and a fire at a refinery in the New Orleans area on Friday, officials said. Residents near Chalmette Refining said they heard an explosion at around 1 p.m. The refinery is in Chalmette, …