INSURANCE NEWS
Congress Shielded Gun Firms From Lawsuits. Some Blue States Eye Loophole.
Two decades after a Republican-controlled Congress gave gun manufacturers immunity from being sued over crimes committed with their firearms, blue state Democrats upset about gun violence think they’ve found a way to penetrate that legal shield. Since 2021, 10 states …
FBI Searched California Real Estate Firm Linked to Bad Bank Loans, Lawsuit
The FBI last month searched the offices of a California real estate investment firm Continuum Analytics, which is linked to bad loans recently disclosed by Zions and Western Alliance, according to legal correspondence seen by Reuters. Continuum Analytics is an …
Federal Judge in Mississippi Admits Staff Used AI to Draft Inaccurate Order
A federal judge in Mississippi has admitted that his staff used artificial intelligence to draft a flawed court order, after months of speculation and an inquiry from a U.S. senator. U.S. District Judge Henry T. Wingate sent a letter on …
Re/Insurer Convex Announces New Ownership Structure With AIG as Minority Investor
Convex Group Ltd., the Bermuda-based specialty insurer and reinsurer, announced a new, long-term ownership structure led by private equity firm Onex Corp., with American International Group becoming a strategic minority equity investor. Onex will acquire a 63% equity stake in …
Monkeys Escape From Overturned Truck on Mississippi Highway
Monkeys being transported on a Mississippi highway escaped captivity Tuesday after the truck carrying them overturned, according to law enforcement. All but one of the escaped monkeys were killed, the Jasper County Sheriff’s Department said in a post on Facebook, …
GEICO, Daimler Launch Connected Insurance Program for Truck Fleets
Daimler Truck Financial Services USA LLC (DTFS), the captive finance partner of Daimler Truck North America LLC, and GEICO announced the launch of Connected Insurance, a new data-driven insurance program designed to help Freightliner and Western Star owner-operators and small …
Microsoft Azure’s Services Restored After Global Outage
Microsoft said late on Wednesday it had resolved an outage of its Azure cloud platform that had impacted the tech giant’s suite of productivity software, and a range of industries worldwide. “While error rates and latency are back to pre-incident …
OpenAI Sued for Trademark Infringement Over Sora’s ‘Cameo’ Feature
The maker of celebrity video platform Cameo sued OpenAI in a California federal court on Tuesday, arguing that the new “Cameo” feature of OpenAI’s Sora video generation app violates its trademark rights. Cameo said in the complaint that OpenAI’s Cameo, …
Hacking Firm Boss Pleads Guilty to Stealing, Selling Secrets
A former director at a US military contractor that sells computer vulnerabilities pleaded guilty on Wednesday to stealing and reselling $35 million in trade secrets to a Russian cyber-tools broker whose clients include the Russian government. Peter Williams, 39, worked …
FIO: Insurer Litigation Expenses Dipped Slightly Between 2023 and 2024
Insurer litigation expenses declined slightly between 2023 and 2024 and potentially benefitted from state legal reforms to address increasing litigation costs, the U.S. Department of the Treasury’s Federal Insurance Office (FIO) said in a new report. Citing S&P Global Data, …
Ship With Radioactive Zinc Dust Stuck Near Philippine Port, Official Says
A ship with 23 containers of radioactive zinc dust is stuck off the coast in the Philippines, unable to unload because there’s no site that has agreed to entomb the offending material, according to a top official. Port authorities aren’t …
Jamaica’s Grid Was Not Ready for Hurricane Melissa
After Hurricane Beryl devastated Jamaica’s grid last year, officials at the island’s sole utility vowed to fortify it. But the company’s initiatives were only in the planning and early implementation stages when Hurricane Melissa hit as a Category 5 storm …