A 6.5 billion rand ($361 million) lawsuit has been lodged in a South African court by a Japanese insurance company for a claim arising from flood damages suffered in 2022 by Toyota Motors Corp.’s plant near Durban. The claim against …

Shell Plc’s former head of oil trading in the US was stiffed on his 2020 bonus by more than $29 million, he claims in a lawsuit that shines a light on compensation inside the oil major’s lucrative trading unit. John …

Circadian Risk, headquartered in Ann Arbor, Michigan, named Frank Schools as chief financial officer (CFO). Schools will oversee the company’s financial strategy, planning, risk management and reporting functions. Schools previously worked with Circadian Risk principals while serving as CFO of …

AmRisc, a subsidiary of Alabama-based CRC Group and Truist Insurance Holdings, has launched a reciprocal exchange, initally writing in Florida, Georgia, Alabama, California and Colorado, the company announced this week. Calais Reciprocal Insurance Exchange is domiciled in Illinois and plans …

A former Connecticut state police trooper has been arrested and charged with collecting workers’ compensation benefits totaling $8,341.00 during his employment with the Connecticut Department of Emergency Services and Public Protection (DESPP). Jose Campos, age 32, of Winsted, was arrested …

San Francisco, California-based Pano AI announced the close of its $44 million Series B funding round. The round, which brings its total amount raised to $89 million, was led by new investor Giant Ventures, with additional new participation from Liberty …

Alphabet Inc.’s Waymo has applied for a permit to test its robotaxis in New York City, underscoring its intent to operate in one of the largest ride-hailing markets in the US despite an absence of local regulations supporting commercially operated …

A Connecticut man has pleaded guilty to conspiring to obtain driver’s licenses for ineligible applicants, principally illegal aliens, federal prosecutors reported. The U.S. Attorney’s Office for Massachusetts said that Cesar Agusto Martin Reis of Waterbury pleaded guilty on June 13, …

A SpaceX Starship rocket exploded on a test stand in Texas, adding to a series of setbacks to Elon Musk’s space ambitions that include trips to Mars. The huge blast enveloped the craft as it stood upright on a test …

Krispy Kreme released new information about its late 2024 data breach and said it is notifying affected individuals—many of them current or former employees, and their families. According to a post on its website and a notification to the attorney …

Deal volume is down but the total value of the deals that were made is up, according an analysis by PwC of mergers and acquisitions in the insurance sector. The look at M&A activity showed total deal value within the …

Bad faith litigation has long posed both legal and reputational risks for insurers operating in Florida. With the enactment in 2023 of House Bill 837—a sweeping tort-reform measure—there are important changes to how insurers and their claims professionals must approach …

Viasat Inc. is the latest US communications company identified as a victim of the sweeping surveillance hack blamed on the Chinese government that emerged during last year’s presidential campaign, according to people familiar with the matter. The breach of the …

Downtown Los Angeles businesses hoped customers would return quickly after Mayor Karen Bass lifted a curfew she had imposed last week to prevent vandalism and break-ins during nighttime protests against President Donald Trump’s immigration crackdown. The protests, which have been …

The US Supreme Court left intact a federal plan to store as much as 40,000 tons of highly radioactive waste at a temporary site in west Texas over the objections of local landowners and oil and gas operators. Voting 6-3, …

Carnival Cruise Lines could not have foreseen a sexual assault on a teenager, despite a lack of security presence at the time, the sneaking of booze on to the ship by an alleged assailant, and reports of more than 100 …

Descartes Underwriting, the Paris-based parametric insurer for climate and emerging risks, announced a strategic investment by Battery Ventures, a technology-focused investment firm. Financial details of the investment were not disclosed. The transaction enables Battery to join the company’s shareholder base …

Liberty Mutual Insurance Appoints Bhatnagar President, Major Accounts, GRS North America; Fallon Announces Retirement Liberty Mutual Insurance, headquartered in Boston, named Neal Bhatnagar president, major accounts, of Global Risk Solutions (GRS) North America, effective July 7. He will report to …

King Risk Partners, one of the largest insurance brokerages in the U.S., has acquired Nobles Insurance Agency in North Carolina, King Risk announced this week. Nobles, with offices in Raleigh, Clayton and other cities, has been in business for almost …

The NAACP and an environmental group said Tuesday that they intend to sue Elon Musk’s artificial intelligence company xAI over concerns about air pollution generated by a supercomputer facility located near predominantly Black communities in Memphis. The xAI data center …