INSURANCE NEWS
Gen AI Is Shaking Up Underwriting, But Can It Replace Human Judgment?
Artificial intelligence technology has continued to evolve, and it’s affecting many areas of insurance from claims to underwriting to customer service, according to panelists at the 2025 PLUS D&O Symposium in New York City. But has the technology developed so …
Big Tech’s Data Center Boom Poses New Risk to Grid Operators
Data Center Alley, a 30-square-mile stretch outside Washington D.C. and home to more than 200 data centers, consumes roughly the same electricity as Boston. So power company officials were alarmed when a big chunk of those centers – 60 of …
Carolina Woman Charged With Fraud After Claiming Slips and Falls at 8 Groceries
North Carolina authorities charged a woman with insurance fraud after learning that she made slip-and-fall claims at multiple grocery stores in the area. Jackie Kay Lynch, 61, of Wilson, east of Raleigh, filed a $1,000 claim in August 2024 with …
People: BenefitMall Names Scheib Sales Exec, SCDOI Adds Conley as Captive Analyst
BenefitMall, a CRC Group company and employee benefits specialist, has named Jim Scheib sales executive for north Florida, expanding the mall’s commitment to the region, the company said. Scheib has 35 years of experience in employee and group insurance. The …
Florida House Panel Approves ‘Two-Way’ Attorney Fees, Aims at 2022 Reforms
Three bills that would chip away at or substantially reverse 2022 reforms on attorney fees and medical damages passed Florida House subcommittees by wide margins on Thursday. But the consensus at the state Capitol is that most of the proposed …
Student Driver’s Parent Can Be Held Liable for Fatal Crash for Negligent Supervision: Court
A Virginia Court of Appeals has given a green light to a negligence lawsuit seeking to hold a mother responsible for failing to supervise her teenage son who was learning to drive when he hit and killed a person in …
CSB Releases Update Into Fatal Texas Hydrogen Sulfide Release
The U.S. Chemical Safety and Hazard Investigation Board (CSB) released a second update on its ongoing investigation into the fatal hydrogen sulfide release that occurred on October 10, 2024, at the PEMEX Deer Park Refinery in Deer Park, Texas. Two …
Wall Street Brokers Start Trading Insurer Claims From LA Fires
Wall Street brokers have started selling insurers’ claims tied to Los Angeles’ deadly wildfires, which may trigger a payout from the utilities blamed for the destruction, according to people familiar with the matter. Investors are buying so-called subrogation claims, obtaining …
Tesla Recalls Most Cybertrucks Due to Trim Detaching From Vehicle
Tesla is recalling nearly all Cybertrucks in the United States to fix an exterior panel that could detach while driving, the company said on Thursday, the latest in a series of call-backs for the pickup truck. The recall covers just …
Delaware Corporate Law Reform Heads to Final Vote Amid Criticism It Favors Billionaires
Delaware lawmakers are expected to vote as soon as next week to overhaul the state’s corporate law to protect its business-friendly reputation, but opponents have called the bill a giveaway to billionaires. The bill makes it hard for investors to …
CoreLogic: Approximately 170K Properties Potentially Impacted by Severe Storms
Approximately 170,000 properties were potentially impacted by the severe outbreak across the Midwest and Mississippi Valley, in addition to wildfires and dust storms across the Southern Plains, CoreLogic said. The early season tornado outbreak over March 13-16 spawned at least …
Riverstone in Loss Portfolio Transfer Deal With Lyft Subsidiary
RiverStone International has signed an agreement with Lyft subsidiary Pacific Valley Insurance Co. to provide a loss portfolio transfer reinsurance for a commercial auto liability portfolio. The deal is effective from Jan. 1, 2025. Guy Carpenter was the broker of …