INSURANCE NEWS
AI-Driven Threats Driving Spending Plans: AXIS
Nearly 82% of executives surveyed by AXIS Capital Holdings Limited said their organizations plan to increase their cybersecurity budgets over the next 12 months, while 75.2% said they are likely to reduce cybersecurity headcount due to greater productivity resulting from …
Texas Deep Freeze Shutters Some Energy-Consuming Industry Sites
The winter storm sweeping the US has begun disrupting the operations of industrial oil and gas consumers on Texas’ Gulf Coast, including refiners, chemical plants and manufacturers. With almost 10% of US natural gas production estimated to be offline due …
Lawsuit Claims Meta Can See WhatsApp Chats in Breach of Privacy
An international group of plaintiffs sued Meta Platforms, Inc. alleging that the company has made false claims about the privacy and security of its WhatsApp chat service. Meta has made so called “end-to-end” encryption a central part of WhatsApp’s feature …
Florida Board Drafting Rules That Could Stem Bogus Engineering Reports in Claims
For the last several years, complaints have piled up, contending that some Florida engineers have testified or have submitted reports in insurance claims lawsuits about major property damage that was somehow caused by relatively minor wind events. Some of the …
TV Show About the NYPD Becomes Legal Drama Starring City and Dr. Phil’s Son
A reality TV series meant to spotlight the New York Police Department has spawned a real-life legal drama involving the city and the show’s producer, Jordan McGraw — the son of TV’s “Dr. Phil” McGraw. The city sued the younger …
Storm Leaves 1 Million Without Power, Forces 10,000 Flight Cancellations
More than 1 million customers in the U.S. as far west as New Mexico were without electricity and over 10,000 flights were canceled on Sunday during a monster winter storm that paralyzed eastern and southern states with heavy snow and …
New Exoskeleton System Said to Reduce Back and Strain Injuries by Almost Two-Thirds
An exoskeleton system developed initially by Vanderbilt University researchers decreased strain, sprain and lifting injuries by as much as 62% over months of study, signaling a way to reduce some of the most common workers’ compensation claims. The HeroWear company, …
Sweeping US Winter Storm Threatens Blackouts and Snarled Travel
A vast swath of the US — sweeping east from the Southern Rockies to the Mid-Atlantic and New England — is on alert for winter-storm conditions that could last days, disrupting travel and threatening blackouts. By Friday evening, a mix …
Pacific Life Seeks to Dismiss Kyle Busch’s $8.5M Lawsuit Over Insurance Policies
Pacific Life Insurance Company on Thursday asked a federal court to dismiss the $8.5 million lawsuit filed by NASCAR champion Kyle Busch and his wife over policies the Buschs claim were sold to them under false and negligent representations as …
People Moves: Starwind Marine and Energy Announces Leadership Appointments
Starwind Specialty Insurance Services, a CRC Group division, announced a series of leadership appointments within Starwind Marine and Energy that further strengthen its long-term strategy for growth and technical excellence across the marine and energy sectors. The appointments took effect …
People Moves: Coterie Appoints Seich as Chief Revenue Officer
Coterie Insurance, a small business MGA, announced Mark Seich as the company’s new Chief Revenue Officer overseeing revenue strategy across distribution, agency engagement, marketing, and customer experience. Seich served as VP of Marketing & Distribution at The Philadelphia Contributionship, where …
Hot Sauce Company Sues Manufacturer Over Exploding Bottles
A product liability dispute is bubbling between a popular salsa and hot sauces company and its manufacturer. Iowa-based Lola’s Fine Sauces alleges in a lawsuit that it lost several hundred thousand dollars after customers complained that Lola’s bottled products bubbled, …