INSURANCE NEWS
Tesla Settles Suit Over Autopilot Crash With Truck Crossing Highway
Tesla Inc. settled a high-profile lawsuit over a driver’s death in 2019 when the Autopilot system in his Model 3 allegedly failed to avoid a collision with a tractor-trailer crossing a Florida highway. The confidential settlement, disclosed in a July …
Excessive Litigation Causes Surge in US Liability Insurance Costs: Marsh McLennan CEO
Excessive litigation and the abuse of U.S. legal system are effectively imposing a tax on the U.S. economy and causing a surge in liability insurance costs, according to John Doyle, president and chief executive officer of Marsh McLennan. “The U.S. …
Trainee’s Death Seen as Part of Pattern of Lapses in Railroad Safety
Federal investigators have reported that the 2023 death of a CSX Transportation train conductor trainee in Baltimore was caused by an unsafe riding position. The National Transportation Safety Board (NTSB) warned that its investigation reveals broader safety and training gaps …
Ford Recalls Over 694,000 SUVs After Year-Long Fuel Leak Probe
Ford is recalling 694,271 crossover SUVs in the United States due to a fuel leak issue that could increase the risk of a fire, the U.S. National Highway Traffic Safety Administration said on Wednesday, following a year-long investigation. The NHTSA …
People Moves: Higginbotham Appoints Reutter to Newly Created CFO, COO Role
Higginbotham, headquartered in Fort Worth, Texas, appointed Andrew Reutter as CFO/COO. Reutter most recently served as a principal at Stone Point Capital, where he built and led the capital markets division and worked closely with insurance services firms, overseeing financing …
Chinese Hackers Still Trying to Break Into Telecoms Across Globe
A Chinese hacking group has continued to target phone and wireless providers around the world, compromising devices tied to seven telecommunications companies since February, according to a bulletin that a cybersecurity company recently sent to clients. In the past five …
Former AIG Exec McElroy Faces Sexual Assault Charges in Vermont
Earlier this week, American International Group (AIG) made a splash with the announcement that it had hired former Lloyd’s CEO John Neal to be the new leader of General Insurance, the company’s property/casualty operations. Meanwhile, the man who once led …
Waymo Expands in Austin After Tesla Launches Robotaxi Competitor
Waymo is more than doubling its service territory in Austin as the driverless taxi firm looks to fend off competition from Tesla Inc. Through its partnership with ride-hailing giant Uber Technologies Inc., Waymo said Thursday that it will now offer …
AM Best Revises Outlook to Negative for Texas’ Southern Vanguard
AM Best announced it has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Southern Vanguard Insurance Company, based in Houston, Texas. The …
NHTSA Shedding More Than 25% of Employees
The U.S. auto safety agency is shedding more than 25% of its employees under financial incentive programs to depart the government offered by the Trump administration, according to data provided to Congress seen by Reuters. The National Highway Traffic Safety …
China-Linked Hackers Target Taiwan’s Chip Industry With Increasing Attacks: Researchers
Chinese-linked hackers are targeting the Taiwanese semiconductor industry and investment analysts as part of a string of cyber espionage campaigns, researchers said on Wednesday [July 16]. While hacking to steal data and information about the industry is not new, there …
Google to Offer Free AI Certification Courses to Virginia Job Seekers
Republican Gov. Glenn Youngkin announced on Tuesday that Google will partner with his administration to provide free and low-cost artificial intelligence certification courses to Virginians as part of his office’s ongoing effort to connect citizens to new jobs amid changes …