INSURANCE NEWS
Florida Bans Flock Cameras, License Plate Readers From State Roads
Florida has banned local police from installing license-plate readers on state roads, responding to growing concern about the proliferation of surveillance cameras made by Flock Safety and other companies. The Florida Department of Transportation on Monday revoked all permits for …
German Power Grid Hit Twice in Latest Suspected Sabotage
Germany’s power grid was hit twice in a single day on Tuesday, with incidents on opposite sides of the country knocking units of coal-fired power plants offline and authorities investigating possible terrorist or extremist motives. The latest incident occurred in …
Thieves Snatch $4 Million Necklace From Vienna Museum
A historic diamond necklace originally designed for the Egyptian royal family and valued at about $4 million was stolen from a major Vienna museum, triggering a police manhunt for the two alleged thieves. The men smashed a display case in …
Germany Blames Russia for Attempted Drone Attack, Expects More
Germany’s government said an investigation found that Russia is behind a failed drone attack at an airport in Leipzig last month and that the Kremlin is likely to step up hybrid aggression. Foreign Minister Johann Wadephul announced the shuttering of …
Fatal Floods Expose Threats to Hydropower in the Roof of the World
The devastating deluge that swept through the mountain valleys on the border between Nepal and Tibet in China is a potent reminder of a growing green-energy risk in one of the world’s most hazard-prone areas.Hydropower dams high in the Himalayas …
Judge Says Smucker’s Lawsuit Against Trader Joe’s Over Frozen PB&J Can Proceed
A federal judge has ruled that J.M. Smucker can proceed with a lawsuit against Trader Joe’s over frozen sandwiches that Smucker claims are too similar to its Uncrustables. Smucker sued Trader Joe’s in federal court in Ohio last fall, claiming …
People Moves: Tokio Marine HCC – CPLG Appoints Alva to Lead Cyber Business; Marsh Names Brito Marine, Cargo, and Logistics Practice Leader Within Marsh Risk
Tokio Marine HCC – Cyber & Professional Lines Group Appoints Alva SVP of Underwriting to Lead Cyber Business Tokio Marine HCC – Cyber & Professional Lines Group (CPLG), a member of the Tokio Marine HCC group of companies based in …
Insurance Industry Employee Confidence Tanks on AI Concerns: Report
A new report highlights insurance industry employees’ growing negativity toward artificial intelligence job displacement, as sector employment dropped 21% yera-over-year, and entry-level adjuster positions dropped 50% YoY. Glassdoor’s Employee Confidence Index for its broader AI Report hit a record 10-year …
US Urges Hands-Off Approach to AI Regulation at G20 Tech Meeting
The U.S. pressed G20 members on Tuesday to take a hands-off approach to AI regulation and avoid creating new rules for the technology at a gathering of industry titans and commerce ministers in North Carolina. The U.S. goals largely align …
Specialty Insurance Platform Ignyte Acquires InsureMyTrip
Pennsylvania-based Ignyte Insurance, a specialty insurance platform, has acquired InsureMyTrip, a travel insurance marketplace that helps travelers compare and purchase coverage from insurance providers. Terms of the transaction were not disclosed. Rhode Island-based InsureMyTrip reports it has served more than …
California Lawmakers Adjourn Without Voting on Wildfire Bill
The California Assembly adjourned without passing a revamp of the state’s wildfire response, sending up shares in two key power utilities, PG&E Corp. and Edison International. The deal fell apart Tuesday as lawmakers prepared to leave the state capitol. Major …
Report: Medical Service Costs in California Comp Rising With Payments, Utilization
Medical service costs in California workers’ compensation rose 5% last year on the back of growth in both average payments and utilization, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California released its Medical Service Cost Trends …