INSURANCE NEWS
Munich Re Unit to Cut 1,000 Positions as AI Takes Over Jobs
Munich Re’s primary insurance unit ERGO aims to cut about 1,000 positions in Germany, partly as a result of its increased use of artificial intelligence. The cuts affect simple and repetitive tasks in telephony and claims processing, a spokesman said …
Can AI Tell Us How Much to Pay for Art?
Stephen Smith, 56, a UK-based art collector, has bought prints through MyArtBroker, a sales and management platform for secondary-market prints and editions, since 2024, when he purchased Echo by British abstract artist Bridget Riley for £7,500 ($10,300). He uses the …
Viewpoint: How P/C Carriers Can Win the Next Decade With Tech + Talent
When I reflect on the state of the Property & Casualty business today, two forces are reshaping the industry faster than any cycle I’ve seen in my career. Increasingly complex risks are driving demand for specialized protection solutions and talent. …
France Fines Russia-Linked Oil Tanker in Shadow Fleet Crackdown
France will release a tanker after hitting it with a multimillion-euro fine for flouting European sanctions on Russian oil, following its seizure in the Mediterranean Sea last month. The Grinch will leave French waters after “paying several millions of euros …
Asbestos Lawsuits Prompt Vanderbilt Minerals to File Bankruptcy
Vanderbilt Minerals, which mines materials used in industrial products, filed for bankruptcy after its cash flow was overwhelmed by an increase in lawsuits that accuse the company of once selling items contaminated by asbestos. The firm, which denies that its …
EU Ill-Prepared for Worsening Climate Change, Advisers Say
The European Union is not prepared for worsening climate change and should urgently step up its investments to protect people and infrastructure from mounting floods, wildfires and severe heatwaves, its independent advisers said on Tuesday. Climate change has made Europe …
CFC Owners Said to Tap Banks for Sale, IPO of £5 Billion Insurer
Private equity firms EQT AB and Vitruvian Partners are working with advisers as they explore strategic options for their investment in cyber insurer CFC, according to people familiar with the matter. The buyout group has appointed Evercore Inc. and Goldman …
Tesla’s Austin Robotaxis Report 14 Crashes in First Eight Months
Tesla Inc.’s robotaxis have been involved in over a dozen crashes in Austin since service began, according to reports the carmaker has made to regulators. The electric vehicle maker has said its nascent robotaxi business has been involved in 14 …
Popcorn Machine Catches Fire at Oklahoma Basketball Game
Oklahoma men’s basketball’s offense wasn’t the only thing that caught fire in the Sooners’ game on Saturday, Feb. 14. A popcorn machine caught fire at Lloyd Noble Center in Norman during the first half of OU’s game against Georgia, sending …
Pinpoint Predictive Secures Approval in Ohio and Georgia
Pinpoint Predictive, a risk assessment platform for property and casualty insurers, announced that its rating models have been approved for use in Ohio and Georgia, bringing its total number of approved states to nine. Insurers operating in Ohio and Georgia …
Houston Companies to Pay $200K to Workers Fired for Asbestos Concern
The U.S. Department of Labor has ordered two Houston, Texas-based construction companies and their owners to reinstate and compensate two workers who were fired for raising asbestos concerns during repair of a hotel after Hurricane Beryl. The department’s Occupational Safety …
Texas AG Sues Factory After Residents Complain About Noxious Odors
Texas’ top lawyer is taking a manufacturing company to court, saying its Bastrop plant smells like “boiling blood, and even death” and is making life miserable for people as far as 10 miles away. Attorney General Ken Paxton filed a …