INSURANCE NEWS
The Race to Fix Aging Computer Systems Heats Up With AI’s Help
Kresimir Mudrovcic and his team of programmers spend months on end trawling through computer code that can be three times as old as the crew’s youngest members. Mudrovcic specializes in mainframe technology, involving computers tracing their roots to the dawn …
Tech Update: Lloyd’s Backs BreachBits; ZoJacks Prevents Water Claims; Eagleview Expands Drone Options
Washington, D.C.-based BreachBits has received an investment of an undisclosed amount from Lloyd’s in what is the London-based global insurance marketplace’s third strategic innovation investment from among over 150 alumni of the Lloyd’s Lab. This investment follows BreachBits’ successful co-development …
More Floridians Moving Out Due to Housing, Insurance Costs, Cotality Report Says
Florida’s elected leaders have long touted the “1,000 people a day” moving into the state. But that trend shows signs of slowing, with people moving out of the Sunshine State due to surging housing and property insurance costs, according to …
Distracted Drivers Are Overconfident; 20% Still Texting While Drivin
Driver overconfidence is leading to risky behavior. Nationwide’s latest driver survey found 20% of drivers text while driving, 15% use social media, 13% watch videos, and 11% read or write emails. Half of all drivers admit to eating or drinking …
People Moves: SCM Names Valenzuela VP and Bond Manager; Breiter Joins Alliant in California
Valenzuela Joins SCM as Vice President and Bond Manager SullivanCurtisMonroe Insurance Services named Adriana Valenzuela vice president and bond manager. Before joining SCM, Valenzuela managed the surety department for Alliant Insurance Services’ Western offices. She also previously served as an …
Viewpoint: What Tariffs and Steel Prices Mean for E&S Construction Insurance in California
Steel prices have been anything but steady in recent years. With renewed discussions around tariffs and trade restrictions, another wave of volatility may be on the horizon. While much attention is paid to how rising material costs impact builders and …
A California New Car Group is Suing Volkswagen and Affiliate for Violating Franchise Laws
The California New Car Dealers Association filed a lawsuit against Volkswagen and its affiliate, Scout Motors, for allegedly violating California’s franchise laws. The CNCDA lawsuit, filed in in San Diego County Superior Court, asserts that Volkswagen is illegally competing with …
Texas-Based Insurtech Steadily Secures $30M Series C Round
Steadily, a provider of landlord insurance in the U.S., announced $30 million in Series C funding led by Two Sigma Ventures at a $355 million valuation. Steadily serves 18 million individual rental property owners who collectively own the majority of …
Insurance Industry Charitable Foundation Establishes Minnesota Chapter
The Insurance Industry Charitable Foundation, a nonprofit organization dedicated to helping communities and enriching lives, recently announced the establishment of the IICF Minnesota Chapter, part of the IICF Midwest Division. Based in Minneapolis and serving the Twin Cities region, this …
Texas Farmers Fear Proposed Legislation Could Devastate Hemp Economy
Andrew Hill, who studied and farmed hemp in California before it was legal in Texas, was a keynote speaker at the state’s first-ever agricultural hemp expo in Dallas in 2019. Amid considerable hype and excitement that followed the recent federal …
Class Action Accuses Toyota of Illegally Sharing Drivers’ Data with Progressive
A federal class action lawsuit filed this week in Texas accuses Toyota and an affiliated telematics aggregator of unlawfully collecting drivers’ information and then selling that data to Progressive. The lawsuit alleges that Toyota and Connected Analytic Services (CAS) have …
Delta Plane Catches Fire at Orlando Airport in Latest Incident for Airline
ORLANDO, Fla. (AP) — A Delta Air Lines airplane caught fire on Monday before it was supposed to take off at a central Florida airport, forcing the evacuation of passengers, airport officials said. There were no reports of any injuries …