INSURANCE NEWS
AI Startup Suno Says Music Industry Suit Aims to Stifle Competition
AI music startup Suno is pushing back against the world’s biggest record labels, saying in a court filing that a lawsuit they filed against the company aims to stifle competition. In a filing Thursday in federal court in Massachusetts, Suno …
Orion180 Launches Homeowners Insurance in Ohio
Orion180 has announced its expansion into the Buckeye State. According to a press release, the company now offers homeowners insurance services and coverage in Ohio through Orion Select Insurance Co., Orion180’s admitted insurance carrier. Orion180 also operates in Alabama, Arizona, …
Hong Kong Hits AIA With Record Fine for Anti-Money Laundering Lapses
AIA Group Ltd. was subject to a record fine of HK$23 million ($2.9 million) by the Insurance Authority for anti-money laundering oversight, as the city’s regulators steps up scrutiny of the industry. An on-site inspection by the regulator found “technical …
Tesla Registers Insurance Brokerage in China, National Corporate Database Shows
Tesla registered an insurance broking firm in China at the end of July, based on a national corporate information database, in a sign that the U.S. automaker may be trying again to gain approval to sell insurance products in the …
Suspected Chinese Hackers Hit Taiwanese Research Center
A hacking group believed to be linked to the Chinese government stole passwords and documentsfrom a Taiwanese government-affiliated research center that specializes in computing, cybersecurity researchers at Cisco Systems Inc. said Thursday. The attackers used a kind of malicious software …
BNP Paribas in Talks to Buy AXA Investment Managers for €5.1 Billion
BNP Paribas is in exclusive talks with French insurer AXA to buy 100% of its AXA Investment Managers arm at an agreed price of 5.1 billion euros ($5.50 billion), the euro zone’s biggest bank said on Thursday. For BNP, such …
Microsoft Azure Attack Shows Persistence of Blunt Hacking Tool
The recent outage on Microsoft Corp.’s cloud-computer platform demonstrated the persistence of an older, blunt-force style of cyberattack. It’s called a distributed denial-of-service attack, DDoS for short, and it works by directing massive amounts of junk internet traffic at a …
‘Impossible’ Weather Increasingly Blamed on Climate Change
Today may be the day when the impossible becomes possible—based on the number of headlines in recent days saying pretty much that. A slew of recent articles this week focus on studies and research reporting on how unlikely the weather, …
Apple Asks Judge to Toss Antitrust Lawsuit
Apple on Thursday asked a U.S. judge to dismiss a lawsuit by federal and state antitrust regulators accusing it of illegally monopolizing the smartphone market, saying the case would have a judge redesign its popular iPhone. The Justice Department, 19 …
Technology’s Grip on Modern Life Pushing Us Down a Path of Digital Land Mines
“Move fast and break things,” a high-tech mantra popularized 20 years ago by Facebook founder Mark Zuckerberg, was supposed to be a rallying cry for game-changing innovation. It now seems more like an elegy for a society perched on a …
Tennessee DCI Returns $9.5M to Policyholders in Mediated Claims Disputes
The Tennessee Department of Commerce and Insurance so far this year has secured more than $9.5 million for policyholders whose insurance claims had been denied, the department announced this week. The payments, mostly from property insurers, are the result of …
Construction Company in Idaho Airport Hangar Collapse Ignored Safety Standards, OSHA Says
Federal safety investigators cited a construction company in the deadly collapse of an Idaho airport hangar, saying it exercised a “blatant disregard” for federal safety standards. The Occupational Safety and Health Administration proposed nearly $200,000 in penalties for Big D …