INSURANCE NEWS
UGA Fatal Crash Survivor Settles Lawsuit With Athletic Association
ATLANTA (AP) — A former University of Georgia recruiting analyst who was severely injured in a deadly car crash has settled her lawsuit against the school’s athletic association nearly two years after the accident. In a court filing last week, …
Clearview AI Fined by Dutch Agency for Facial Recognition Database
U.S. facial recognition company Clearview AI has been fined 30.5 million euros ($33.7 million) for building what Dutch data protection watchdog DPA said on Tuesday was an illegal database. DPA also issued an additional order, imposing a penalty of up …
Hippo’s First Connect Partners With Root Insurance on Quote and Bind Process
First Connect Insurance Services and Root Insurance said they are partnering to off API-powered quote and bind capabilities to independent agents. First Connect, a subsidiary of insurtech Hippo, is a digital platform designed to provide independent agents access to some …
Moody’s Acquires Praedicat to Add Casualty and Liability Models
Moody’s Corp. today said it acquired analytics firm Praedicat. The acquisition adds casualty and liability modeling to Moody’s range of market leading solutions for the insurance industry. Terms of the deal were not disclosed. Praedicat’s models and predictive analytics help …
Johnson & Johnson Adds $1.1 Billion to Proposed Talc Settlement
Johnson & Johnson plans to pay an additional $1.1 billion to resolve tens of thousands of legal actions alleging its baby powder and other talc products caused cancer, two people familiar with the matter said. The increase would boost the …
People Moves: Brit Names Guy Carpenter’s Stephenson to Lead Bermuda Expansion; HDI Global Taps Geis From Allianz as Managing Director for Germany
This edition of International People Moves details appointments at Brit Ltd. in Bermuda and HDI Global in Germany. A summary of these new hires follows here. Brit Names Guy Carpenter’s Stephenson to Lead Bermuda Expansion Brit Ltd. announced the appointment …
Climate Losses Batter Insurers While Reinsurers Step Back
As the planet warms and more natural disasters occur, insurers are facing an increasingly difficult time. In 2023, for the fourth year in a row, global insured catastrophe losses exceeded $100 billion. The trend continues this year: In the first …
Who Is to Blame for Deadly 2017 Grenfell Tower Fire?
A public inquiry into the devastating 2017 London Grenfell Tower blaze concluded on Wednesday that a “culmination of decades of failure” by the government and the construction industry ultimately led to the disaster that killed 72 people. The report detailed …
Underwriters Wary of PFAS Amid ‘Superstorm’ of Litigation, Regulation
As litigation and regulation increase around per- and polyfluoroalkyl substances (PFAS), insurance underwriting is tightening across lines. Insurance professionals who specialize in PFAS say insurers are mandating coverage exclusions and, in some cases, declining to write liability policies at all …
UK Grenfell Tower Fire Inquiry Blames All Deaths on Incompetence and Greed
A public inquiry into the devastating 2017 London Grenfell Tower blaze that killed 72 people blamed the disaster on failings by the government, construction industry and, most of all, the firms involved in fitting the exterior with flammable cladding. The …
Ex-VW CEO Denies Criminal Charges Over Diesel Emissions Scandal
Volkswagen AG’s ex-Chief Executive Officer Martin Winterkorn denied duping customers and taking too long to alert markets about diesel-emission cheating, telling a German criminal court he was never properly informed about the vast scale of the scam. Winterkorn said that …
Driver of Partially Automated Mustang Charged With DUI Homicide
A woman was intoxicated and using a partially automated driving system when she caused a March highway crash in Philadelphia that killed two people, authorities said as they announced homicide charges against the driver. State and federal investigators say the …