INSURANCE NEWS
Trafigura Wins $600 Million Nickel Fraud Lawsuit Against Businessman Gupta
Trafigura won its London lawsuit against Indian businessman Prateek Gupta over fake nickel cargoes on Friday, with London’s High Court ruling in favor of the commodities trader. Geneva-based Trafigura alleged Gupta was the mastermind of a fraudulent “Ponzi scheme” in …
Bitcoin’s Break Below $80,000 Signals New Crisis of Confidence
Price, relevance, conviction — Bitcoin is bleeding all three. The world’s largest cryptocurrency slipped below $76,000 in thin weekend trading, dropping about 40% from its 2025 peak and revisiting levels last seen in the aftermath of the “Liberation Day” tariff …
Federal Trade Commission Warns Law Firms About DEI Hiring
The U.S. Federal Trade Commission said on Friday it had written to 42 law firms warning them about diversity, equity, and inclusion hiring, which it described as potentially unfair and anticompetitive. President Donald Trump’s administration has eliminated DEI-related programs in …
Open-Source AI Models Vulnerable to Criminal Misuse, Researchers Warn
Hackers and other criminals can easily commandeer computers operating open-source large language models outside the guardrails and constraints of the major artificial-intelligence platforms, creating security risks and vulnerabilities, researchers said on Thursday. Hackers could target the computers running the LLMs …
Charges Dropped Against ‘Poster Boy’ Florida Contractor Accused of Insurance Fraud
Two years ago, in May of 2023, a circuit court judge in Lee County, Florida, sharply criticized a restoration contractor, accusing him of concealing the true cost of condominium roof work in an assignment-of-benefits claim with Tower Hill insurance. Six …
Delaware’s Supreme Court Slashes Legal Fees in Tesla Director Pay Lawsuit
The Delaware Supreme Court handed Tesla a victory on Friday, slashing by more than $100 million the legal fees owed to shareholder lawyers who successfully sued directors at Elon Musk‘s electric car company for overpaying themselves. The court said Tesla …
Search Suspended for 7 People on Fishing Vessel That Sank Off Massachusetts
The U.S. Coast Guard on Saturday suspended the search for seven people who were aboard a commercial fishing vessel that sank off the coast of Massachusetts in rough, frigid waters. The Coast Guard launched a search and rescue mission early …
California Accelerates Work on EV Rules, Tax Credits That Trump Opposes
California officials are meeting Detroit automakers this week to discuss the next phase of greenhouse gas regulations for cars and trucks, the state’s top air regulator said. California is fighting in the courts and in the U.S. Congress against President …
TDI Investigations Result in $50M for Fraud Victims
The Texas Department of Insurance (TDI) Fraud Unit this week announced that it contributed to insurance fraud investigations landing $50.9 million in court-ordered restitution in fiscal year 2025. More than 20 TDI investigators working across the state looked into 314 …
Michigan AG Secures Judgment Against Contractors Over Consumer Scam
Michigan Attorney General Dana Nessel announced she has secured a default judgment (PDF) against Caltons Lawn Care & Landscaping LLC and its owners, Aron Dean Calton and Leslie Calton, of Kent City, for violating the Michigan Consumer Protection Act. The …
Aon Reports Organic Growth of 6% for 2nd Straight Year
Aon plc reported revenue of $4.3 billion during the fourth quarter of 2025, an increase of $153 million or 4% from $4.1 billion in Q4 2024. For Q4 2025, Aon saw organic revenue growth of 5%, compared with 6% during …
Insurance Journal’s Agency Salary Survey to Close Tuesday, Feb. 3
Don’t miss out on your chance to participate in Insurance Journal’s annual Agency Salary Survey. There’s only a few days left to share your insights on agency compensation trends and more. ALL retail agency owners, principals, producers, CSRs — the …