INSURANCE NEWS
IBM Agrees to Pay Government $17 Million in DEI Settlement
In the first outcome of the U.S. Department of Justice’s Civil Rights Fraud Initiative, IMB has agreed to about $17 million to settle charges related to the company’s diversity, equity, and inclusion (DEI) practices. “Racial discrimination is illegal, and government …
Markets/Coverages: DUAL UK Enhances Cyber Binder With Increased Limits
DUAL has significantly strengthened the scope of its global cyber and technology capabilities, offering increased primary limits for risks with revenues up to £1 billion and enhanced excess limits for risks up to £5 billion. Backed by a number of …
China’s Ping An Seeks to Sell $1 Billion Software-Focused PE Assets
China’s biggest insurer Ping An Insurance Group is seeking to reduce software-focused private equity exposure by selling its stakes in some funds, according to people familiar with the matter. The insurer has tapped Campbell Lutyens to offload stakes worth about …
Wall Street Banks Try Out Anthropic’s Mythos
Wall Street banks are starting to test Anthropic PBC’s Mythos model internally as Trump administration officials encourage them to use it to detect vulnerabilities. While JPMorgan Chase & Co. was the only bank named as part of an initiative to …
An Omaha Sinkhole Went Viral. Hundreds of Others Fall Under the Radar.
As Harmon Maher walked along the Keystone Trail in central Omaha one morning in February, he spotted something odd: The creek next to the path, normally a gray-green color, ran bright orange. It was full of sediment, probably from some …
Oklahoma State Softball Team Bus Involved in Fatal Crash
Oklahoma State’s softball team took some time to process a fatal crash involving its team bus earlier this week and will be back on the field Friday. The team had been traveling to Wichita, Kansas, on Wednesday afternoon when its …
Lodestar Launches as Independent TPA Brand Within Old Republic
Old Republic International Corporation announced the launch of Lodestar Claims & Risk Services, Inc. as an independent brand and standalone operating company within Old Republic, marking the first time in more than 30 years that the organization’s third-party administrator (TPA) …
1 Killed, 6 Injured in Shooting at Chick-Fil-A in New Jersey
A shooting at a Chick-Fil-A restaurant in Union Township, New Jersey last evening took one life and injured six others. According to the Union County Prosecutor’s Office (UCPO), the shooting happened at approximately 9 pm on the Chick-Fil-A on Route …
Miami’s Mandarin Demolished to Make Way for Luxury Towers
In a young city like Miami, a quarter century can seem like a long time. For the Mandarin Oriental hotel, it was long enough to generate nostalgic laments and a farewell bash. The waterfront hotel, which opened in 2000, was …
Iran Threatens to Retaliate Against Gulf Ports for US Blockade
The U.S. military said it will begin a blockade of ships leaving Iran’s ports on Monday, and Tehran threatened to retaliate against ports of its Gulf neighbors, after weekend talks failed to reach a deal to end the war, leaving …
Bank of England Set to Discuss Anthropic’s Mythos With Banks
The Bank of England plans to discuss the impact of Anthropic PBC’s new AI model with financial institutions, as UK regulators join their peers in the US and elsewhere in raising alarms over the risks posed by the tool. Anthropic’s …
Oil Tankers Steer Clear of Hormuz Ahead of US Blockade
Oil tankers are steering clear of the Strait of Hormuz ahead of a U.S. blockade later on Monday following failed peace talks between the U.S. and Iran over the weekend, shipping data showed. President Donald Trump said on Sunday the …