INSURANCE NEWS
AI Safety Is Hard to Steer With Science in Flux, US Official Says
Policymakers aiming to recommend safeguards for artificial intelligence are facing a formidable challenge: science that is still evolving. AI developers themselves are grappling with how to prevent abuse of novel systems, offering no easy fix for government authorities to embrace, …
Coming Soon to Florida: New State-Fed Program to Elevate Homes in Flood Zones
At the Florida Chamber of Commerce Insurance Summit last week, the state’s emergency management director announced a multi-million-dollar program that many homeowners, lawmakers and insurers have long hoped for: New grants and low-interest loans that will help elevate homes above …
Horace Mann Insurance Now Available to New Jersey Teachers
Horace Mann Educators Corp., which targets teachers and others in education, announced its expansion into New Jersey. Already serving educators in more than 40 states, Horace Mann will offer its suite of financial and insurance products to the educational community …
Contractors on New York Public and Certain Private Projects Must Now Register With State
New York has a new law on the books requiring contractors and subcontractors who submit bids or perform construction work on public projects or certain private projects to register with the state. The New York State Department of Labor (NYSDOL) …
Trump Taps Andrew Ferguson to Replace Lina Khan as FTC Chair
U.S. President-elect Donald Trump tapped Federal Trade Commissioner Andrew Ferguson to lead the consumer protection and antitrust agency, Trump said on social media on Tuesday. Ferguson, one of two Senate-confirmed Republican FTC commissioners appointed by President Joe Biden, will be …
Malibu Fire Explodes in Size, Forces Thousands to Evacuate
A Southern California wildfire whipped by “particularly dangerous” winds destroyed homes, shut schools and spurred the evacuation of thousands of people near Malibu. The Franklin Fire has now scorched about 2,600 acres after starting late Monday and remains out of …
Hub Acquires Fairfield County Bank Insurance Agency
Global insurance broker Hub International Limited announced that it has acquired the assets of Fairfield County Bank Insurance Services, LLC. Terms of the transaction were not disclosed. Headquartered in Ridgefield, Connecticut, with additional offices across the state and in New …
Swarm of Moderate to Strong Quakes Hit Alaska’s Aleutian Islands
A series of moderate to strong earthquakes that struck Alaska’s western Aleutian Islands and offshore areas Sunday comprised what scientists call a “swarm,” but the state’s earthquake monitors said the seismic events should not cause residents to worry. There were …
Texas Mutual Awards $4.5M in Grants to Support Workforce Safety
Texas Mutual Insurance Company is announcing the recipients in the second round of its 2024 request for proposal initiative. The company is awarding more than $4.5 million to nearly 70 organizations across the state to support their efforts in workforce …
Iowa Woman Pleads Guilty to Fraudulent Injury Scam at Casino
An Iowa woman pled guilty to one count of presenting false information to an insurer over an alleged fraudulent injury at a casino, following an investigation by the Iowa Insurance Division’s Fraud Bureau. Tonya Weber, age 35, of Marshalltown, pled …
Texas Stock Exchange to Open Temporary Dallas HQ Next Year
The Texas Stock Exchange is getting ready to plant its flag in the Dallas real estate market. The upstart bourse backed by investors including BlackRock Inc. and Citadel Securities will open a temporary headquarters this spring at the Weir’s Plaza …
Specialist Risk Group Buys UK Broker R3 in Its 11th Acquisition of 2024
Specialist Risk Group (SRG), the London-based insurance intermediary backed by Warburg Pincus and Temasek, announced the acquisition of specialist insurance broker, R3. R3 is SRG’s 11th acquisition in 2024, following previous acquisitions which include Stonehatch, Capulus, and Anthony James Insurance …