INSURANCE NEWS
Delaware Jury Awards Qualcomm Just $2 in Damages for Arm Breach of License Deal
Chip technology supplier Arm Holdings breached a licensing agreement with Qualcomm and intentionally interfered with the chipmaker’s business relationship with Meta Platforms, a Delaware jury found on Tuesday, but awarded nominal damages of just $2. The verdict followed a five-day …
Viewpoint: AI Doesn’t End the Rite of Passage; the Grind Wasn’t the Teacher
A few years ago, the industry’s biggest worry was how to recruit enough talent to fill the gaps and prepare for the future of insurance. We talked endlessly about how to make insurance look interesting to people coming out of …
Eight States Sue OpenAI, Claiming ChatGPT Harms Children
A bipartisan group of eight states said on Wednesday they had sued OpenAI in courts across the country over harms they say ChatGPT has caused to their residents, alleging the chatbot has coached its users — including teenagers — to …
People Moves: Marsh Hires Meta’s Risk Manager for New Role
Marsh said Michael Crowley has joined the firm as senior enterprise risk advisor for digital infrastructure. In this newly created role, Crowley will help digital infrastructure clients manage risk and build resilience throughout the full lifecycle of their projects, from …
Judge Won’t Block Trump Order Targeting DEI by Federal Contractors
A federal judge declined on Wednesday to block an effort by President Donald Trump to eliminate diversity, equity and inclusion initiatives by companies that do business with the US government. US District Judge Adam Abelson in Baltimore, Maryland, said that …
California Fire Danger Has Utilities Set for Broad Shutoffs
More than 345,000 homes and businesses across California are facing potential power cuts this week during what’s expected to be a days-long onslaught of dangerous fire weather conditions. With drying winds forecast to blow through much of the state through …
Container Ship Sinks in Strait of Hormuz as Attacks Ramp Up
A cargo ship sank in the Strait of Hormuz after a strike that sparked a fire and the evacuation of crew members, the Maritime and Port Authority of Singapore said. The GFS Pride was damaged in a strike by “unknown …
Nvidia Pledges $250 Million to UK AI Safety Research
US chipmaker Nvidia has pledged $250 million worth of computing resources to Britain over five years, to fund AI security research, bolstering the country’s ambitions to become a global center for AI governance and security. While Britain is not home …
Trump’s AI Liability Push Opens Blame Game for Models Gone Rogue
The Trump administration’s embrace of legal liability to enforce artificial intelligence safety sets the stage for future conflicts over who foots the bill when AI models go rogue: the companies that design the systems or the people that deploy the …
Ukrainian Drones Hit Russia’s Top Data Center in Attack on AI Ambitions
Ukrainian drones hit Russia’s biggest data center on Wednesday, part of a series of attacks appearing to target Moscow’s ambitions to develop Russian artificial intelligence capabilities on a par with those from the US and China. The strike on the …
Ga. Commissioner’s Office Investigating as Six Flags Closes 10 Rides After Fatality
Six Flags Entertainment Corp. has temporarily closed 10 rides at seven of its amusement parks, and the Georgia insurance commissioner’s office and local police are investigating after a man fell to his death from a roller coaster. Cobb County Police …
Business Moves: Liberty Mutual to Buy Brazil’s Austral Seguradora
Liberty Mutual Insurance said it has an agreement to acquire Austral Seguradora, a top-five Brazilian surety provider headquartered in Rio de Janeiro. Upon completion of the transaction, Liberty Mutual said it will be one of the largest surety providers in …