INSURANCE NEWS
Murdoch Firms Dow Jones and New York Post Sue Perplexity AI
Media baron Rupert Murdoch’s Dow Jones and New York Post filed a lawsuit against Perplexity AI on Monday, claiming the AI startup engages in a “massive amount of illegal copying” of their copyrighted work. Perplexity’s search tools enable users to …
People Moves: Applied Underwriters Aerospace Names Parker Chairman
Applied Underwriters Aerospace, headquartered in Atlanta, has named Richard Parker as chairman of the Washington, D.C.-based group. Parker has over 35 years of experience in space insurance, satellite engineering and satellite and launch vehicle procurement. Before joining Applied Underwriters, he …
Midwest Chicken Farmers Struggle to Feed Flocks After Closure of Producer
Dozens of farmers in Iowa, Minnesota and Wisconsin are scrambling to feed their flocks after a struggling organic broiler chicken producer abruptly closed a year after getting a $39 million federal loan. Pure Prairie Poultry shuttered its Charles City, Iowa, …
Train Derails in South Louisiana, Causing Chemical Leak
DONALDSONVILLE, La. (AP) — Seventeen cars of a train derailed in south Louisiana on Friday, and several leaked a chemical used to sanitize swimming pools, but authorities said it was not a threat to the public. It was not immediately …
Cuba Hit by Tropical Storm Oscar as It Struggles to End Blackout
Cuba was dealing with heavy rains and winds today from Tropical Storm Oscar, even as it continues to deal with a prolonged blackout affecting a large swath of the island. According to the U.S. National Hurricane Center, Oscar made landfall …
90% of Insurers Have GenAI Budgets; 10% Can Fully Comply With AI Regs
Data and technology leaders at insurance organizations are gung ho about using GenAI to increase customers satisfaction, reduce operating costs and improve risk management, but few are fully ready to comply with regulations or to monitor AI results. More than …
Colorado Mine Where Tour Guide Was Killed and Tourists Trapped Ordered Closed by Regulators
A former Colorado gold mine where a tour guide was killed and a group of tourists was trapped for hours after an elevator accident has been ordered to remain closed and not conduct tours while its operations are reviewed, state …
FBI Arrests Man Over SEC Hack, Alleging Bitcoin Manipulation
A 25-year-old Alabama man was arrested on Thursday for hacking the U.S. Securities and Exchange Commission’s X account this year as part of an alleged conspiracy to manipulate bitcoin prices, U.S. prosecutors said. In January, a hacker posted false news …
Markets/Coverages MGA Pen Underwriting Relaunches Large Corporate Cyber Offering
Pen Underwriting has relaunched its cyber proposition for large corporate clients with a comprehensive rebuild that sees it re-enter primary cover for this end of the market, double its excess of loss (XOL) limit and introduce a significantly broader risk …
South Africa Mulls Rules for Catastrophe Bonds, Climate Cover
South Africa’s National Treasury is exploring regulations to encourage the use of financial instruments to tackle climate change, including catastrophe bonds and parametric insurance. “We are looking at how best we can get investors into the room, how do we …
At Least 7 Dead After Ferry Dock Gangway Collapsed on Georgia Island
SAVANNAH, Ga. (AP) — Authorities said at least seven people were killed Saturday when part of a ferry dock collapsed on Georgia’s Sapelo Island, where crowds had gathered for a fall celebration by the island’s tiny Gullah-Geechee community of Black …
Meta Must Face Massachusetts Social Media Addiction Lawsuit
Meta Platforms must face a lawsuit by Massachusetts alleging the social media company purposely deployed features on its Instagram platform to addict young users and deceived the public about the dangers it posed to the mental health of teenagers, a …