INSURANCE NEWS
Michigan DIFS Bulletin Issues Guidance on AI Use in Insurance Industry
The Michigan Department of Insurance and Financial Services (DIFS) released a bulletin this month addressing the growing use of artificial intelligence in the insurance industry. The bulletin clarifies DIFS’ expectations and outlines the responsibilities that insurers have when they adopt …
Verisk: US Reconstruction Costs Rose 5.2% From Last Year
Total reconstruction costs in the U.S. rose by 5.2% from July 2023 to July 2024. That’s a large increase from the cost growth from July 2022 to July 2023 (4.0%) and over the cost growth in the second quarter (1.6%), …
14-Year-Old Dies After Collapsing During Football Practice in Alabama
NEW BROCKTON, Ala. (AP) — A 14-year-old football player in Alabama died Tuesday after collapsing during afternoon practice. Semaj Wilkins, a freshman at New Brockton High School, suffered a medical emergency early in practice Tuesday afternoon, Coffee County Coroner Arnold …
California Commissioner Invites Input on Final Phase of Wildfire Modeling Regulation
California Insurance Commissioner Ricardo Lara has invited public input as he begins the final phase of approving a “first of its kind” catastrophe modeling and ratemaking regulation that “will help restore options for all Californians and prepare for the reality …
Texas Jury to Decide if a Student’s Parents are Liable in Deadly School Shooting
DALLAS (AP) — An attorney for the parents of a Texas student accused of killing 10 people in a 2018 school shooting near Houston told trial jurors Friday that they didn’t know their son would have a psychotic breakdown. Lawyers …
Skyward Specialty Launches Aviation Program
Houston’s Skyward Specialty Insurance Group announced it is launching an aviation program in partnership with Acceleration Aviation Underwriters. The partnership between Skyward Specialty and Acceleration Aviation introduces a robust program that extends coverage to commercial and general aviation aircraft, fixed …
Net Zero’s Carbon Removal Conundrum
To achieve net-zero emissions, where emissions and removals of greenhouse gas pollution balance each other out, governments and corporations must do two things: cut emissions as much as possible and remove any residual pollution from the atmosphere. To gauge the …
Lawsuit: Student with Down Syndrome Subjected to Abuse in Kansas School
An employee of a rural Kansas school district repeatedly shoved a teenager with Down syndrome into a utility closet, hit the boy and once photographed him locked in a cage used to store athletic equipment, a lawsuit claims. The suit …
UK Insurers Call for Rule Change to Establish Captive Insurance Regime
Senior figures in the insurance industry are calling on the UK to restart work on a potential new market worth billions of pounds as part of a drive to boost competitiveness. Executives have written to Chancellor Rachel Reeves calling for …
Rhode Island Sues 13 Firms That Worked on Troubled Washington Bridge
Rhode Island Gov. Dan McKee announced Friday that the state has filed a lawsuit against 13 companies that provided design, construction and inspection services related to the troubled Washington Bridge. The bridge was partially shut down over safety concerns in …
People Moves: Rokstone Appoints Burrow Head of US Excess Casualty; Canopius Hires Mills to Head US Casualty
Rokstone, part of the Aventum Group, appointed Laurence (Larry) Burrows as head of a new US Excess Casualty division. Burrows has over 15 years of experience specializing in US casualty, latterly as a liability underwriter for Convex for the last …
Europe’s $42 Billion Effort to Fight Wildfires Is an Uphill Battle
Europe is spending tens of billions of euros a year to fight wildfires, yet it hasn’t stopped blazes from flaring up across Greece and other parts of the continent this summer. This week fires on the outskirts of Athens engulfed …