INSURANCE NEWS
Low Rhine Levels Force Companies to Adapt to New Climate Normal
The halls of the Development Center for Ship Technology and Transport Systems in Duisburg, Germany are lined with model ships, small-scale prototypes of vessels that may end up working on Europe’s busiest waterway, the Rhine. This year, DST’s researchers are …
UK Monitored Threats and Raised Security at Base Before Incident
UK authorities were closely monitoring increased threats to a British airbase used by the US and had tightened security at the site before an attempted attack was foiled, according to people familiar with the matter.Five men were arrested on Sunday …
Vitol Told Deutsche Bank That Radiant Contracts With CFO’s Signature Were Fake
Vitol Group told Deutsche Bank AG in early August that contracts with Radiant World purportedly signed by Vitol’s chief financial officer weren’t real, according to a court ruling in Singapore. The confirmation from Vitol was one of the key factors …
Bangkok Gets a Month of Rain in Weekend, Disrupting City
Bangkok received nearly a month’s worth of rain in a single weekend, flooding roads and homes across the Thai capital, and forcing the government to close public offices and postpone economic data releases. More than 12 inches of rain fell …
ICE Actions Hit Kansas Meatpacking Operations, Ranchers Say
Increased actions by US immigration enforcement are creating significant disruption to beefpacking operations in Kansas, an area where nearly all of the country’s major processors have operations. Thousands of cattle set to be shipped to beef processors have been affected …
Jury Says Apple Owes Record $5.7B in Haptic Technology Patent Case
A US jury ruled that Apple owes San Diego-based Taction more than $5.7 billion for using its patented technology to power the haptic feedback in iPhones and Apple Watches. Apple said it would appeal the country’s largest such verdict to …
How Insurers Can Find the Most Value From Their AI Investments: Accenture
Insurers will help maximize their return on AI investments by adopting an enterprise-wide strategy, rather than just focusing on select and segmented areas, which splits the ownership and investment, according to research from Accenture. “AI capability remains concentrated in small …
TikTok Reaches First State Settlement Over Teen Safety Claims, Agrees to User Limits
Alabama said on Friday it had reached a settlement with TikTok and its Chinese parent company, ByteDance, that requires the social media platform to impose new usage limits and enhanced age-verification measures for users in the state, resolving claims that …
Another Crane, Then Another, Collapses Onto Home in Fort Lauderdale
A crane that was reportedly being used to set up a termite tenting operation fell onto a Fort Lauderdale home last week, causing significant structural damage to the one-story structure. Hours later, a second crane was brought in to remove …
Lawsuits Allege Six Flags Roller Coaster Caused Traumatic Brain Injuries
Three people who went to California’s Six Flags Magic Mountain have filed lawsuits saying they were left with traumatic brain injuries from the park’s famed X2 roller coaster that is advertised as a rite of passage for the “ultimate daredevil.” …
Blackstone-Backed Insurance Underwriter The Fidelis Partnership Files for IPO
Insurance underwriter TFP Group, better known as The Fidelis Partnership, filed for a US initial public offering on Friday, as the fall listing window looks to gain momentum after a tepid start. Expectations for a strong pickup in the fall …
Minnesota Settles Over Fraudulent Claims for Child Nutrition Funds
Minnesota Attorney General Keith Ellison announced that he has filed a civil lawsuit and an $18.5 million settlement of the civil lawsuit with Partners in Nutrition, d/b/a Partners in Quality Care (“PIN”), that resolves claims that the non-profit knowingly defrauded …