INSURANCE NEWS
Rivian Agrees to Pay $250 Million to Settle IPO Fraud Lawsuit
Rivian has agreed to settle a 2022 class-action lawsuit by paying $250 million to some shareholders who had alleged the electric vehicle maker defrauded investors over vehicle prices when it went public, according to a court filing on Thursday. The …
EU’s New Sanctions Boost Allies’ Push to Hit Russian Energy
The European Union adopted a new package of sanctions targeting Russia’s energy infrastructure, building on new US and UK moves to chip away at Moscow’s ability to wage its war against Ukraine. The EU measures will ban LNG imports from …
Apple Loses Landmark UK Lawsuit Over App Store Commissions
Apple abused its dominant position by charging app developers unfair commissions, a London tribunal ruled on Thursday, in a blow which could leave the U.S. tech company on the hook for hundreds of millions of pounds in damages. The Competition …
People Moves: CRC Group Names New Team Members in Specialty Division; Howden US Appoints Hanback EVP
CRC Group Names New Team Members in Specialty Division CRC Group, headquartered in Birmingham, Alabama, added three new professionals to its CRC Specialty division. Ryan Degale rejoins CRC Specialty as a broker based in Orlando with the Boca Raton, Florida …
Growth Momentum Continues for Program Business: TMPAA
The program business sector is growing at a rate that outpaces the broader commercial insurance market. Between 2010 and 2020, the program business sector grew from $17.5 billion in commercial insurance revenue to $53.8 billion. In 2024, premium volume climbed …
Waymo to Manually Test Autonomous Vehicles at Newark Airport
Alphabet’s Waymo said on Wednesday it will begin manual testing of its autonomous vehicles at Newark Liberty International Airport, as the firm looks to bring its robotaxis to one of the three main airports serving the New York City area. …
Trucking App Trucker Path Launches Retail Insurance Agency
The company behind a trucking navigation and compliance apps has launched its own insurance agency. Earlier this month, Trucker Path announced the launch of its in-house, digitally enabled retail agency focused exclusively on trucking insurance. Trucker Path Insurance debuted with …
Conservative Activist Sues Google Over AI-Generated Statements
Conservative activist Robby Starbuck sued Google on Wednesday, alleging the tech giant’s artificial intelligence systems generated “outrageously false” information about him. Starbuck said in the lawsuit, filed in Delaware state court, that Google’s AI systems falsely called him a “child …
University of Virginia Strikes Deal to Avoid Trump Investigations, Protect Funding
The University of Virginia has agreed to abide by White House guidance forbidding discrimination in admissions and hiring, becoming the latest campus to strike a deal with the Trump administration as the college tries to pause months of scrutiny by …
Trump Cancels San Francisco Crackdown After Benioff, Huang Calls
President Donald Trump said he’s calling off the deployment of federal troops to San Francisco after speaking to billionaires Marc Benioff and Jensen Huang, as well as the city’s mayor, Daniel Lurie. “Friends of mine who live in the area …
Louisiana Drafting Rules for Up to 30% Premium Discounts for FORTIFIED Homes
The Louisiana Department of Insurance announced it is in the process of drafting new rules on premium discounts for homes that meet some of the toughest wind-resistant construction standards. A statute approved by Louisiana lawmakers in 2023 mandates that homeowner …
TrustedChoice.com Rebrands to Momentum Edge Following June Acquisition
Agency management platform Momentum announced that TrustedChoice.com will now be known as Momentum Edge. Flower Mound, Texas-based Momentum acquired TrustedChoice.com in June. Momentum Edge, part of Momentum AMP (formerly NowCerts), unifies demand generation, referral delivery, CRM, AMS, rating, workflow automation, …