Executives Take Pay Cuts Over Staff Misconduct at Prudential Japan
Top executives at Prudential Financial Inc.’s Japan unit will take pay cuts after a panel of outside experts issued a report on widespread employee misconduct involving customers’ money. President Hiromitsu Tokumaru and two others will take a 30% reduction in …
People Moves: Selective Insurance Names Kalia Chief Investment Officer
Selective Insurance Group Inc., headquartered in Short Hills, New Jersey, appointed Vaibhav (Vaib) Kalia as executive vice president and chief investment officer. Kalia has served as interim chief investment officer since June. In this role, Kalia oversees Selective’s investment portfolio …
A Timeline of Developments in AI Safety Since the Attack on Hugging Face
In one alarming announcement after another, artificial intelligence companies in recent months have shared examples of their technology acting in ways that appeared to evade instructions from humans. The episodes have highlighted the vulnerabilities in AI security and raised questions …
AI Bubble Risks Worst S&P 500 Crash Since 2008, Strategist Says
The head of market strategy at a London investment bank has a stark warning for investors: the artificial-intelligence trade may soon be over in what could trigger the most severe market crash since the global financial crisis. Equities have powered …
Viewpoint: The ‘Unbundled’ Insurer Emerges in Age of AI as Value Chain Fragments
A roofing contractor in Florida buys a general liability policy. Between him and the capital that stands behind the policy sits a supply chain: a retail agent, a wholesale broker, an underwriter, a licensed carrier, a reinsurance panel and, increasingly, …
Hordes of Teens on E-Bikes Force Suburbs to Rewrite Road Rules
Authorities are cracking down on the latest teenage craze wreaking havoc in communities across the US: e-bikes. Police were called when dozens of e-bikes and e-motos swarmed the streets of Bend, Oregon, on a recent afternoon. In Orange County, California, …
PG&E Warns of Possible Weekend Power Shutoffs Amid Windy California Weather
PG&E Corp. is warning that it may shut off power to some customers in northern California this weekend as dry winds elevate the risk of wildfires. California’s biggest utility may switch off power in as many as seven counties north …
AI Insiders Voice Alarms to NYC Council as Local Governments Take Up Safety Concerns
Artificial intelligence insiders warned New York City’s leaders about the dangers of the emerging technology on Monday, calling for greater oversight as local governments move to respond to mounting concerns that the systems could endanger humanity. At a hearing of …
Alliant Insurance Acquires New Hampshire’s Melcher & Prescott
California-based specialty insurance broker Alliant Insurance Services has expanded its presence in New England through the acquisition of Melcher & Prescott, a long-time independent insurance agency in Laconia, New Hampshire. Founded in 1862, Melcher & Prescott provides commercial insurance, employee …
Army Report Cites Systematic Failures in 2025 Helicopter and Jet Collision That Killed 67
The collision of an American Airlines regional jet and an Army Black Hawk helicopter near Ronald Reagan Washington National Airport last year that killed 67 people was the result of several systemic failures, according to a US Army investigative report …
California Workers’ Comp Combined Ratio Highest in More Than 20 Years
The projected combined ratio for California workers’ compensation insurers reached 127% in 2025, the highest in more than 20 years, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California released its latest Quarterly Experience Report, which delves …
Ohio Contractor Sued for for Alleged Incomplete Home Improvements
Ohio Attorney General Andy Wilson is suing a home-improvement contractor in southwestern Ohio accused of charging consumers for services that were not completed or, in some cases, even started. Wilson’s lawsuit alleges that Cincinnati-based Quincy Barrett and his company, Crown …
Texas Agency Sues to Stop Release of Data Center Records, Citing Terrorist Risk
The Public Utility Commission of Texas is asking a Travis County judge to block the release of information showing where data centers and virtual currency mines operate, saying those details could aid terrorists. The lawsuit filed Monday pits the state …
Michigan Attorney General Sues State’s Blue Cross Health Insurer
The Michigan attorney general is suing the state’s Blue Cross Blue Shield insurance plan for alleged anticompetitive conduct, opening a new front in a long-running legal fight over the structure of Blue Cross plans. The complaint says the company conspired …
Priceline to Face FTC Action Over Deceptive Hotel Ads, Sources Say
The US Federal Trade Commission is gearing up to take action against Priceline.com owner Booking Holdings E&over online ads that appear to direct consumers to a hotel’s site but send them to a third-party site where they are often charged …
NY City Accuses Law Firm of Running Injury Claims Fraud Operation
New York City is suing a Manhattan law firm for allegedly running a multimillion dollar personal injury fraud scheme by filing as many as 15 injury claims against the city on behalf of people allegedly harmed due to roadway defects. …
Florida Cybersecurity Firm Head Charged With Scamming Victimized Businesses
A Florida man who held himself out as a cyberattack solutions expert paid off the attackers while keeping much larger sums for himself—creating a piggy-back type of cyber fraud scheme, a grand jury said in an indictment. Zohar Pinhasi, the …
Leak Exposes Payments to Hacking Group That Has Extorted Law Firms
Leak data posted to the internet has exposed payments made to a hacking group known for extorting large sums of money from law firms, blockchain investigations firm Chainalysis said Oct. 7. The findings come after an unknown party posted troves …
AM Best Downgrades Hanover Fire & Casualty of Pennsylvania
Analysts at AM Best recently downgraded the Financial Strength Rating (FSR) to B+ (Good) from B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb-” (Good) from “bbb” (Good) of Hanover Fire & Casualty Insurance Co in King …
Trust Is the New Frontier in a World of AI Synthetic Content, Digital Doppelgangers
Thanks to the capabilities of artificial intelligence, trust is going to be an even more important component in the cybersecurity landscape. “The mantra moving forward is trust no one, verify everyone,” said Experian in its newly released 2027 Data Breach …
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