Two weeks after South Carolina’s insurance regulator took steps to place Atlantic Coast Life Insurance into rehabilitation, another state’s commissioner has suspended the company amid concerns about its finances. “In making the decision to suspend Atlantic Coast’s COA (certificate of …

Allianz Group announced chief executive officer appointments at Allianz Partners and Allianz Direct, following Tomas Kunzmann’s appointment to the Allianz SE Board of Management. Philipp Kroetz, currently chief executive officer of Allianz Direct, will become CEO of Allianz Partners, effective …

American International Group (AIG) said Turab Hussain was appointed executive vice president and chief risk officer of AIG, effective Oct. 12. Hussain will report to Eric Andersen, president & CEOr, AIG and will serve on AIG’s Executive Leadership Team. He …

Plymouth Rock Home Assurance Corp. headquartered in Boston, Massachusetts, named Jared Stuckey as vice president of customer service and underwriting. Stuckey previously led underwriting strategy and managed personal and commercial products for Plymouth Rock’s Independent Agent auto business. He will …

Zurich Insurance Group has completed its £8.1 billion ($10.7 billion) of Lloyd’s insurer Beazley, effective today. Beazley shares were suspended this morning from the London Stock Exchange with delisting planned for Oct. 2. Under the terms of the deal (known …

The US Senate on Sept. 30 blocked legislation requiring state utility regulators to consider whether large electricity users, including data centers, should bear the incremental costs of power infrastructure built to serve them and thus ease the burden on households. …

A US fund has filed a criminal complaint in Switzerland accusing Radiant World and related companies of fraud and money laundering, according to a US court filing, adding a new jurisdiction to the iron ore trader’s escalating legal and financial …

Generac Power Systems, a Wisconsin generator manufacturer, reached an agreement with the U.S. Equal Employment Opportunity Commission (EEOC) to resolve for monetary and injunctive relief a religious accommodation charge involving an employee’s request to use biological pronouns for another employee, …

Gov. JB Pritzker is setting up a new group within state government to explore more regulations for artificial intelligence as calls grow across the country for new restrictions. Pritzker signed an executive order lsat week to establish an AI Cabinet …

Seven people were indicted this week in a years long arson-related insurance fraud scheme involving fires set intentionally in Monroe, Louisiana. The U.S. Attorney’s Office in the Western District of Louisiana alleges that between 2019-2026, the defendants rented homes, obtained …

The parent company of the Texas Stock Exchange raised $155 million in a third funding round, bolstering its financial firepower as it challenges the New York Stock Exchange and the Nasdaq for equities listings. TXSE Group Inc.’s existing shareholders are …

Attorneys for three cancer patients told a Missouri jury on Sept. 29 that Bayer’s Monsanto unit failed to adequately test its Roundup weedkiller before selling it, starting a trial that could help determine the viability of some Roundup lawsuits after …

As Qu Shaolong pulls his electric truck into one of the many charging stations that dot the Chinese coal hub of Yulin, the latest phase in the country’s energy transition is playing out in real time. The roads in this …

The nation’s flood insurance program struggles to balance affordability, flood protection and cost to taxpayers, leaving millions vulnerable at a time when climate change is driving flood risk higher. Nationwide, just 2.4% of properties are covered by 4.5 million federal …

AXA XL said it launched AXA XL Excess & Surplus Lines Insurance Company (AXA XL E&S), dedicated to exclusively serve wholesale brokers. This strategic move enhances AXA XL’s underwriting focus and capabilities within the Excess & Surplus (E&S) insurance market. …

Europe’s insurance and pensions watchdog warned extreme heat is adding to risks the industries face. The European Insurance and Occupational Pensions Authority said multiple sectors are likely to be impacted as temperatures rise, including insurance covering medical costs and income …

A Florida appeals court this week underscored state regulators’ authority to investigate insurance service companies, two years after a viatical settlement firm refused to open its books to the state Department of Financial Services. “We agree with the trial court …

For years, residents of this Southern California beach town could walk a mile along a stretch of cream-colored sand and dip their toes in the waves lapping ashore. That trip has been cut short. Coastal erosion has been eating away …

San Francisco-based Outmarket AI announced it has raised $34.5 million in Series B funding. The round was led by SignalFire, with participation from Fika Ventures, Permanent Capital Ventures, TTV Capital and Dash Fund. The funding comes months after the company …

The owner of a high-end car rental company has been sentenced to four years in state prison for insurance fraud involving a staged car crash and fraudulent insurance claim. Bozena A. Kolc of Edgewater was also ordered to pay approximately …