INSURANCE NEWS
NHTSA Proposes Voluntary Guidelines for Self-Driving Vehicles
In the waning days of President Joe Biden’s administration, the government’s highway safety agency is proposing voluntary safety guidelines for self-driving vehicles. But a rule from the National Highway Traffic Safety Administration putting the plan in place won’t be approved …
Alabama Prisoners Work at Stores But Not Eligible for Parole or Workers’ Comp
DADEVILLE, Ala. (AP) — A storm was looming when the inmate serving 20 years for armed robbery was assigned to transport fellow prisoners to their jobs at private manufacturers supplying goods to companies like Home Depot and Wayfair. It didn’t …
California Milk Output Down 9% in November on Bird Flu Outbreak
California’s milk production in November plummeted as a bird flu outbreak spreads rapidly among herds in the country’s biggest dairy state. The state produced just under three billion pounds of milk in November, down 9.2% from the same month last …
9 Insurance Commissioners Urge DOGE to Junk FIO
Insurance commissioners from nine states are looking to the new Department of Government Efficiency to do away with the Federal Insurance Office. The letter, addressed to DOGE heads Elon Musk and Vivek Ramaswamy, said the FIO’s mission of monitoring the …
RiverStone International to Provide Loss Portfolio Transfer for Zurich Insurance
RiverStone International, the London-based provider of legacy solutions, announced it has signed an agreement with the French branch of Zurich Insurance Europe and Zurich Insurance Co. to provide a loss portfolio transfer reinsurance (LPT) and an insurance business transfer relating …
Farmers Still Reeling After Hurricane Helene Ravaged Crops Across the Southeast
LYONS, Ga. (AP) — Twisted equipment and snapped tree limbs still litter Chris Hopkins’ Georgia farm more than two months after Hurricane Helene made its deadly march across the South. An irrigation sprinkler system about 300 feet (92 meters) long …
Australia Braces for Worsening Bushfires as National Park Burns
Fire restrictions are in place across the Australian state of Victoria as one of its most popular national parks burns and officials warn of potentially “catastrophic” conditions in some areas over Christmas. A large bushfire near the scenic Grampians National …
DHL Plane Crash Black Box Shows No Foul Play, Lithuania Says
Initial findings from the flight recorders of a DHL-operated plane that crashed near Vilnius Airport in November have given no indication of “illegal interference”, according to the Lithuanian Justice Ministry. “The preliminary analysis of the Boeing 737-476 flight data recorder …
Aviva Agrees to Buy UK Insurer Direct Line for £3.7 Billion
Aviva Plc agreed to buy Direct Line Insurance Group Plc for roughly £3.7 billion ($4.65 billion) in a deal that would create the UK’s largest motor insurer.Each Direct Line shareholder will be entitled to receive 0.2867 new Aviva shares, 129.7 …
Wells Fargo Says It’s Quitting Climate-Banking Group
Wells Fargo & Co. said it’s leaving the world’s biggest climate alliance for banks, in the latest sign that Wall Street is breaking away from such groups. The company said in a statement Friday that it ended its membership in …
Losses From Crypto Hacks Jump to $2.2B in 2024, Report Says
Funds stolen by hacking cryptocurrency platforms surged 21% from a year ago to $2.2 billion in 2024, a report from blockchain analysis firm Chainalysis showed on Thursday. The hacking amount exceeded $1 billion for the fourth straight year and the …
Cargo Theft Surges as Holiday Season Approaches, Verisk Says
Be on the lookout for Grinch-like characters hanging out at transportation hubs over the holidays. A CargoNet analysis of holiday-period theft data from the past five years shows a heightened risk during the Christmas and New Year periods. The days …