USC Basketball Star Alijah Arenas Recounts Tesla Cybertruck Crash
Star college basketball recruit Alijah Arenas spoke publicly for the first time about the Tesla Cybertruck crash that left him in an induced coma, casting fresh attention on safety issues with the EV maker’s newest model. The University of Southern …
Judge Says California FAIR Plan Violates Law; Industry Fights Consumer Group Suit
A judge ruled that the California FAIR Plan’s smoke-damage policy violates state law, while in another matter a lawsuit from a consumer group is drawing concern from insurers that it could push the California insurance market closer to collapse. On …
A Shrinking FEMA Puts Lake Town’s Rebuilding Plans in Limbo
LAKE LURE, North Carolina, June 17 (Reuters) – When Hurricane Helene’s flood waters slammed into Lake Lure’s century-old dam last September, gouging a massive scar into one embankment and cascading five months’ worth of rain down its sides, town commissioner …
Middle East Tensions Boost Underwriting Risks Across Re/Insurers’ Portfolios: Report
Marine, aviation, cyber, and terrorism insurers face immediate underwriting pressures and potential accumulation losses as a result of heightened hostilities between Iran and Israel, according to Morningstar DBRS. In addition, the report said, reinsurance capacity in certain business lines could …
Illinois Chiropractor Sentenced to 20 Months in Prison for Insurance Fraud
An Illinois chiropractor was sentenced to 20 months in prison and ordered to repay more than $2.3 million, following convictions on multiple charges related to a scheme to defraud Medicare and twelve other insurance companies, the U.S. Attorney’s Office, Central …
Inszone Acquires Texas’ Osterts and Associates
Inszone Insurance Services announced its acquisition of Osterts and Associates, LLC, a insurance agency based in Plano, Texas. This acquisition grows Inszone’s capabilities and further expands its presence in Texas, allowing the company to further provide exceptional insurance solutions and …
Viewpoint: Cyber Is a Product for Everyone, so Let’s Start Acting Like it
If this latest wave of retail cyberattacks proves anything, it’s that any business in any sector and of any size can find itself breached. These aren’t fringe incidents anymore; they’re national news, hitting high-street brands and sending disruptive shockwaves through …
Markets/Coverages: Descartes Expands US Parametric Flood Cover for Businesses; EverPeak Takes Workers Comp Product to 11 New States
Descartes Expands US Parametric Flood Cover for Businesses Parametric insurance company Descartes Underwriting has a new flood insurance product it said delivers better protection for US businesses, investors, and homeowners associations. Any type of business and industry class may be …
Texas THC Industry Welcomes More Regulations With Ban Off the Table
With a ban off the table for now, Texas hemp industry leaders said they are amenable to state lawmakers imposing more regulations on their THC products, such as age restrictions on purchases and more testing of their products, but caution …
Telemarketing Firm to Pay $85K Over Discrimination at Ohio Location
DialAmerica Marketing, LLC, a provider of telemarketing and call-center services for third-party clients, will pay $85,000 to settle a lawsuit brought by the U.S. Equal Employment Opportunity Commission (EEOC) charging race and sex discrimination and retaliation, the federal agency announced. …
SpaceX Polluted Border Area, Mexican President Sheinbaum Says
SpaceX’s Starship rocket launches in Texas have polluted an area across the border with debris, Mexican President Claudia Sheinbaum said. The president will meet with her cabinet soon on the “security and environmental impacts” of the rocket launches, the president …
Michigan Suit Alleges Teacher Humiliated Student for Refusing Pledge of Allegiance
The American Civil Liberties Union filed a lawsuit Wednesday on behalf of a 14-year-old student who said a teacher humiliated her for refusing to stand for the Pledge of Allegiance in protest of U.S. support of Israel’s war in Gaza. …
France Orders Extra 800,000 Cars off Road Over Takata Airbag Scandal
France is ordering an extra 800,000 cars with Takata airbags to be taken off the road, two weeks after a woman died in the northeastern town of Reims from injuries related to a faulty airbag. The move is the latest …
Pennsylvania Senior Citizens Warned of Financial Scam
State officials in Pennsylvania are warning consumers after a scam was reported involving someone posing as a Commonwealth employee. The reported scam uses a fake email to target older citizens and request money through licensed financial institutions to receive a …
Meta Fends Off Authors’ Copyright Lawsuit Over AI
A federal judge ruled on Wednesday for Meta Platforms against a group of authors who had argued that its use of their books without permission to train its artificial intelligence system infringed their copyrights. U.S. District Judge Vince Chhabria, in …
Visa Defeats New York Man’s Proposed Class Action Over Gift Card Scam
Visa defeated a proposed class action lawsuit on Monday by consumers who accused the world’s largest card payments network of failing to warn that its prepaid “Vanilla” gift cards were susceptible to being drained by thieves. U.S. District Judge Gregory …
People Moves: Covéa Group Names Petit CEO as Derez Becomes Chairman; Howden UK & Ireland Appoints Kennedy to Succeed Shuker as CEO
The Board of Directors of Covéa Group, the French mutual insurer, has appointed Maud Petit as chief executive officer, while Thierry Derez has been named chair of the Board of Directors. Derez succeeds Michel Gougnard who has been named vice …
EU Revamps Regulations for Expanding Space Market
The European Commission on Wednesday put forward the EU Space Act, a long-awaited overhaul of regulations affecting its fast-growing space industry. The legislation aims to create a single market for firms offering space services in the bloc while boosting efforts …
Cyberattack on UK Health Firm Contributed to Patient Death
A cyberattack that caused disruption at hospitals in London last year contributed to the death of a patient, health officials have confirmed for the first time. The incident occurred after a Russian hacking gang in June 2024 targeted Synnovis, a …
Billionaire Richard Li’s FWD Group Seeks to Raise $442 Million in Hong Kong IPO
Insurer FWD Group, backed by billionaire Richard Li, is looking to raise HK$3.47 billion ($442.08 million) through a Hong Kong initial public offering, according to a regulatory filing on Thursday. The pan-Asian insurer is offering 91.3 million shares at HK$38.00 …
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