INSURANCE NEWS
Tech Update: Hiscox Launches GenAI-Powered Lead Underwriting Platform
Hiscox, the global specialist insurer, has launched the London insurance market’s first lead underwriting platform enhanced by generative AI, aiming to provide sabotage and terrorism insurance quotes to customers faster and more efficiently than ever before. Initially developed as a …
UK Cyber Spies Plan AI ‘Lab’ to Counter Hostile State Threats
UK spies are stepping up efforts to tackle cyber and artificial intelligence threats from hostile foreign states, including the sort of online manipulation that helped foment rioting across the country in the past 10 days. GCHQ, the UK’s national security …
Swiss-Based Engineering Firm Schlatter Says IT Network Affected by Cyberattack
Schlatter Industries’ network was attacked with malware on Friday and it can be assumed this was a professional attack, the Switzerland-based company said on Monday. The group was hit on Friday by a cyberattack using malware, and the unknown perpetrators …
Sica Fletcher Index: Agency-Broker M&A Down Slightly in First Half 2024
The 22 acquirers that make up the Sica Fletcher Index were involved in 242 agent-broker deals in the first six months of 2024, totaling $635 million in revenue. That is a 45% drop in revenue from what was acquired during …
SEC Sues Over Alleged $650 Million Global Crypto Fraud
The U.S. Securities and Exchange Commission on Monday sued the cryptocurrency company NovaTech and its married co-founders, saying they fraudulently raised over $650 million from more than 200,000 investors worldwide, including many Haitian-Americans. NovaTech and co-founders Cynthia and Eddy Petion …
Employer’s Clinic May Not be Protected by Workers’ Comp Remedy, SC Court Says
The South Carolina Court of Appeals has signaled that employers who offer on-site health clinics may not be immune from tort claims from injured or sickened workers. It’s the latest twist to a question that has bounced around courts and …
Prompted by Mass Shooting, Maine Implements New Gun Safety Laws
With eleventh hour guidance from the state, Maine gun retailers on Friday began requiring a three-day wait period for gun purchases under one of the new safety laws adopted following the state’s deadliest mass shooting. Maine joined a dozen other …
J&J Gets Plaintiff Backing for $6.5 Billion Baby Powder Accord
Johnson & Johnson has cleared a key hurdle for advancing a $6.5 billion plan to resolve thousands of lawsuits by people who say its baby powder gave them cancer, according to people familiar with the matter. More than 75% of …
Illinois Company Fined $138K for Selling Unregistered Pesticide Product
The U.S. Environmental Protection Agency announced a settlement with Amerikal Products Corp. of Waukegan, Illinois, for allegedly selling and distributing an unregistered pesticide product in violation of the Federal Insecticide, Fungicide, and Rodenticide Act. Amerikal Products will stop producing and …
Kansas Commissioner: Add Insurance to Back-to-School Checklist
As students across Kansas prepare to return to the classroom, Kansas Insurance Commissioner Vicki Schmidt reminds students and parents to add insurance to their back-to-school checklist. “Many insurance companies offer products and discounts geared toward students and their particular needs,” …
Tesla Sued by Family of Electrician Who Died at Austin Facility
The family of a Texas man who died while working at Tesla’s Austin-area facility last week is suing the electric vehicle company and his employer. The lawsuit said the worker, Victor Joe Gomez Sr., was at the facility on Aug. …
Texas Attorney General Opens Probe Into CenterPoint Over Beryl
The Texas attorney general is investigating CenterPoint Energy Inc. citing potential violation of the state’s law in the utility’s response during Hurricane Beryl, when millions in the Houston area were left without power — some for days in the sweltering …