INSURANCE NEWS
Crumbling Michigan Dam Reveals Potential Risks of Private Hydroelectric Ownership
Amid stacked rows of brightly colored plastic kayaks and canoes, Khrystal Crosno recently helped an Ann Arbor family begin a floating trip along the scenic AuTrain River. The Earl family should spot turtles, herons and river otters during the 7-mile …
Texas Serial Arsonist Charged With Starting Hay Bale Fires
A serial arsonist in Lavaca County, Texas pleaded guilty to one count of felony vehicle arson and admitted to starting six hay bale fires dating to 2024, the Texas Department of Insurance announced this week. The Hallettsville Police Department arrested …
Louisiana Governor: No ‘Immediate Danger’ After Auto Plant Fire
Following a massive fire on Friday at an automotive lubricant plant in southeast Louisiana, residents are reporting soot on cars and oily residue in nearby bodies of water. But Gov. Jeff Landry said that there is no indication of an …
20 Years Later, Hurricane Katrina’s Impact Echoes in Models, Mitigation and Reforms
Twenty years after Hurricane Katrina swamped parts of Louisiana and Mississippi, the property insurance sector is better prepared for another catastrophic storm and the litigation that may follow, according to industry leaders. They point to tighter insurance policy language and …
West Virginia Lags Behind in Sites for New Businesses, But That is Changing
On the Ohio River in Wood County, officials are clearing hurdles to prepare sites for new businesses. Two locations, 70 acres of farmland and a sprawling industrial park, are set to become suitable for development, thanks to the first $150,000 …
Florida Uses Highway Weigh Stations as Immigration Check Points
Florida law enforcement will begin asking commercial truck drivers about their immigration status during inspections at highway weigh stations after a turnpike crash killed three people earlier this month. State Agriculture Commissioner Wilton Simpson and state Attorney General James Uthmeier, …
Sompo to Acquire Aspen for $3.5 Billion to Expand Global Access
Sompo Holdings, a subsidiary of Sompo International Holdings, said it has an agreement in place to acquire Aspen Insurance Holdings for about $3.5 billion to further its geographical reach outside of its home territory. Tokyo-based Sompo early this year announced …
OpenAI, Altman Sued Over ChatGPT’s Role in Teen’s Suicide
The parents of a teen who died by suicide after ChatGPT coached him on methods of self harm sued OpenAI and CEO Sam Altman on Tuesday, saying the company knowingly put profit above safety when it launched the GPT-4o version …
Trump Tariffs Pile Pressure on Europe’s Industrial Base
When the Washington Commanders’ quarterback Marcus Mariota landed a last-second touchdown pass to clinch victory against the Dallas Cowboys in January, it’s unlikely devastated Cowboys fans were thinking about turf underlay, or the small Dutch town where it’s made. Privately …
EU Auto Groups Press for Change to ‘No Longer Feasible’ Car CO2 Emission Targets
European Union targets to cut CO2 emissions from vehicles, including a 100% reduction for cars by 2035, are no longer feasible, the heads of the European automobile manufacturers’ and automotive suppliers’ associations said on Wednesday. European Commission President Ursula von …
Apple Watch Not a ‘CO2-Neutral Product,’ German Court Finds
Apple can no longer advertise its Apple Watch as a “CO2-neutral product” in Germany, following a court ruling on Tuesday that upheld a complaint from environmentalists, finding that the U.S. tech company had misled consumers. Apple had promoted the device …
When Luck Runs Out: Where $100B Hurricanes Might Happen
Lists published every hurricane season, adjusting the amounts of insurance losses for past events for inflation to current-dollar levels, give a misleading picture of the potential for a single event costing insurers $100 billion. Karen Clark & Company (KCC) offered …