INSURANCE NEWS
EU Eyes Sanctions on Fake Flags Used by Russia Shadow Oil Fleet
The European Union has proposed restrictions on three firms that have provided fake flags to sanctioned oil tankers in Russia’s shadow fleet, according to documents seen by Bloomberg. The entities have supplied false Aruba, Curacao and Sint-Maarten flags to at …
Italian Families Target Facebook, Instagram and TikTok Over Child Safety
A group of Italian families has filed a lawsuit against Facebook, Instagram, and TikTok, accusing the platforms of failing to enforce age restrictions and using addictive features that harm children’s mental health. The case asks a Milan court to require …
Chobani Urges End to Dannon Parent’s Cold-Brew Coffee Lawsuit
Chobani urged a federal judge to dismiss a lawsuit by Danone, the parent of rival U.S. yogurt brand Dannon, claiming it copied packaging and the “Bright & Mellow” slogan for a competing line of ready-to-drink cold brew coffee. Danone accused …
AI-Power Boom to Drive $1.1 Trillion in US Utility Grid Spending
US electric companies will spend almost $208 billion in 2025 and more than $1.1 trillion over the next five years on the power grid, according to industry group Edison Electric Institute. Utility spending is growing rapidly. For comparison, investor-owned utilities …
Laws and Regs Already Protect Insureds From AI Missteps, Insurance Reps Say
Despite the rapid rise of artificial intelligence in the insurance sector, along with claims of widespread errors and even discrimination by algorithms, A.I. is becoming vital to the industry – but insureds will be protected by existing statutes, insurance advocates …
Lawmaker Calls for California Insurance Commissioner to Resign Amid Spending Probe
A lawmaker is calling on Insurance Commissioner Ricardo Lara to resign in the wake of investigation he allegedly used taxpayer dollars to take luxurious trips. The Fair Political Practices Commission is looking into a complaint into Lara following reports that …
Gaines Named Nevada Insurance Commissioner
Ned Gaines was named commissioner of the Nevada Division of Insurance. Gaines, who has served as commissioner in an acting capacity since July 2, was named to the role by Department of Business and Industry Director Kristopher Sanchez. Gaines has …
People Moves: NFP Adds Two to Benefits Team After Buying Their Businesses
NFP, an Aon company, added two new benefits leaders, Mark Carroll and Bill Schmidt, and their respective books of business. Carroll and Schmidt will each join as vice president, Benefits, in NFP’s Atlantic region. They are based in northern Virginia …
New MGU Hill Country Underwriters Launches for Artisan Contractors in Texas
Hill Country Underwriters, a managing general underwriter (MGU) providing casualty insurance for artisan contractors, launches today with a General Liability and Inland Marine product for artisan trade contractors in Texas. The new offering, tailored for contractors in specialty construction trades, …
Nebraska Officials are Targeting Voter-Approved Medical Marijuana
Nebraska officials missed a deadline this week granting licenses to marijuana growers as part of a voter-approved measure that legalized medical marijuana, offering the latest example of pushback in Republican-led states against efforts to legalize the drug. “How many times …
Texas Stock Exchange Receives Federal Approval
The Texas Stock Exchange last week crossed its latest hurdle toward becoming a direct competitor to the dominance of the New York Stock Exchange and the Nasdaq. The announcement that the U.S. Securities and Exchange Commission had approved the Dallas-based …
ALDOI to Hold Hearing on Planned ProAssurance Merger with FD Insurance
The Alabama Department of Insurance will hold a public hearing next week on the proposed merger of a ProAssurance unit and FD Insurance – the latest of many financial moves for both companies in the last decade. ProAssurance Indemnity Co., …