INSURANCE NEWS
Amazon Delivery Firms Are Bailing Amid Rising Costs, Meager Profit
In 2022, Jake Clay started an Amazon delivery firm in Odessa, Texas, after hearing about the company-sponsored program from a friend. He sank $75,000 into the business and earned more than $200,000 in the first year. An Air Force veteran, …
NHTSA Investigates Waymo Robotaxis Over Safety Around School Buses
The U.S. National Highway Traffic Safety Administration (NHTSA) said on Monday it has opened a preliminary probe into about 2,000 Waymo self-driving vehicles after reports that the company’s robotaxis may have failed to follow traffic safety laws around stopped school …
Alaska Storm Damage So Bad Many Evacuees Won’t Go Home for at Least 18 Months
Damage to remote Alaska villages hammered by flooding last weekend is so extreme that many of the more than 2,000 people displaced won’t be able to return to their homes for at least 18 months, Gov. Mike Dunleavy said in …
Progressive Records $2.6B in Q3 Income After Refunds for Excess Profits in Florida
Progressive posted $2.6 billion in third-quarter net income last week in spite of taking a nearly $1 billion charge to account for excess profits the carrier will have to return to Florida auto insurance policyholders. “Despite actions to lower rates …
People Moves: Liberty Mutual Re Promotes Blosche to Head of Northern Europe as Van Oort Retires; AXA Announces Key Leadership Appointments
This edition of International People Moves details appointments at Liberty Mutual Reinsurance and AXA. A summary of these new hires follows here. Liberty Mutual Re Promotes Blosche to Head of Northern Europe as Van Oort Retires Liberty Mutual Reinsurance (LM …
Inflation, Supply Chains, Tariffs: Trends Impacting Business Insurance and Claims
Inflation has been a persistent issue in the United States, though it has moderated since its peak during the COVID-19 pandemic, while supply chain disruptions for equipment and other goods continue to add to insurance claim costs—and the financial impacts …
People Moves: Borys to Lead Howden US Financial Lines; Everest Appoints Vidovich General Counsel
Howden US Appoints Borys to Lead Financial Lines Practice Howden US appointed Ron Borys as head of its financial lines group in the U.S. Based in New York, Borys will be responsible for building out the practice and creating tailored …
Australia’s Weather Bureau Casts Doubt on Prospects for La Niña
Australia’s weather bureau is not convinced that a La Niña weather pattern is forming that could change rainfall patterns and bring wilder weather to parts of the Americas, Asia and Oceania, affecting crop production, a senior climatologist said. La Niña, …
Former WWE Boss McMahon Enters Pretrial Program in Reckless Driving Case
Former WWE CEO Vince McMahon has been allowed to enter a pretrial program to resolve a reckless driving charge stemming from a crash this summer in Connecticut. A state Superior Court judge ruled Thursday that McMahon could enter the program …
Gun-Owning New Hampshire Teen Sues School Officials Who Searched His Truck
A New Hampshire teenager sued his former high school principal and others Thursday, alleging they illegally searched his truck based solely on his status as a gun owner. Jack Harrington, 18, graduated from Hillsboro-Deering High School in June, about two …
Widespread AWS Outage Hits Financial and Consumer Sites
Amazon Web Services, the world’s largest cloud provider, suffered a widespread disruption on Monday morning that degraded services for several companies, including artificial intelligence company Perplexity and the Coinbase and Robinhood financial platforms. AWS found a problem with a regional …
Storm Fengshen Kills Eight in Philippines as It Heads for China
Tropical storm Fengshen has killed eight people in the Philippines, authorities said, warning it could intensify as it heads for China and Vietnam. Known locally as Ramil, the storm caused torrential rains, floods and landslides in central Philippines during the …