INSURANCE NEWS
CCC Intelligent Solutions Agrees to $6.1B Take-Private Deal with GTCR, Elliott
CCC Intelligent Solutions said on Thursday it agreed to be acquired by a consortium of private investment firms led by GTCR and including Elliott Investment Management in a $6.1 billion take-private deal. Shareholders of the Chicago-based company will receive $7.75 …
All in the Family: Husband, Wife and Daughter Indicted for Insurance Fraud and Bribery
Three members of a New Jersey family have been charged for their alleged roles in a homeowners’ insurance fraud scheme involving an Assurance Insurance Co. claims examiner that generated more than $100,000 in fraudulent payments. Attorney General Jennifer Davenport reported …
NYC Comptroller Levine Urges Anthropic to Pause US IPO
Anthropic should delay its US IPO until it addresses concerns about safety, governance and the pace of development, urged New York City Comptroller Mark Levine in a letter to the AI lab’s CEO Dario Amodei. AI systems have advanced rapidly …
Romania Blames Russia for Escalating Black Sea Ship Strikes
Romania blamed Russia for increased drone strikes against commercial vessels in the Black Sea after a second cargo caught fire near its territorial waters in the space of 12 hours. “It’s obvious that these are attempts by Russia, in Romania …
France, Germany Near Deal on Car Emissions, Britain ‘Made in EU’ Status
France and Germany are nearing a deal on cars that would water down EU-wide CO2 emission targets for 2035 and open the door for Britain to be treated as a trusted partner under the EU’s “Made in EU” rules, diplomats …
Ukraine Hits Russian Refinery; Zelenskiy Says ‘We’re Done’ with Trump’s Energy Truce
Ukraine struck a Russian oil refinery on Oct. 15, after President Volodymyr Zelenskiy said Kyiv was “done” supporting a ceasefire on energy targets announced by US President Donald Trump and ignored by Russia. Russian President Vladimir Putin played down the …
Florida Congressional Candidate Says Home Ground Wires to Be Replaced After Suit
The founder of a central Florida home services company, who is running for Congress this year, said the firm will inspect and replace electrical ground wires that may not meet building code, after homeowners filed a lawsuit. Joe Strada, founder …
States Seek Children’s Data Protections in Character.AI Bankruptcy
A group of 40 state attorneys general on Wednesday urged a US bankruptcy judge in Delaware to protect young users of Character.AI and keep their data safe during the AI companion company’s bankruptcy. Character.AI filed for bankruptcy late on Oct. …
Karen Clark Says Isaias Losses to be $3 Billion While AM Best Calls it an Earnings Event
Claims data from Florida’s Office of Insurance Regulation had not yet been released by Thursday morning, Oct. 15, but an analytics firm estimated insured losses from Hurricane Isaias to be about $3 billion, making the storm one of the most …
AM Best Revises Outlooks to Positive for AmTrust Group Insurers
AM Best has revised the outlooks to positive from stable for the members of the New York-based AmTrust Group. The ratings firm also affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) …
Chubb Revamps Claims with 3 Leadership Promotions
Chubb Limited said it made three leadership appointments within its global claims organization. Lisa Wilson has been named head of North America claims, overseeing all aspects of North America commercial and personal lines claims and services, effective immediately. Wilson will …
Missouri DCI Urges Residents to Consider Earthquake Insurance
October 15 is the Great ShakeOut, a day when millions of Americans participate in earthquake drills while at school, work or home. The Missouri Department of Commerce and Insurance (DCI) is using October as a reminder for residents to consider …