Industry News
A group of Democratic senators urged the Commodity Futures Trading Commission to rein in prediction market trading on wildfires, expressing concern that individuals could be tempted to commit arson to make their bets pay off. “As the United States faces …
Via: Claims Journal
Farmers Insurance filed an upgraded business insurance rating plan to expand commercial insurance coverage for business owners across the state and a rate hike of 15%. The plan, which incorporates elements from the Sustainable Insurance Strategy, includes coverage in in …
Via: Claims Journal
Insurers are turning to catastrophe bonds to pass on historic levels of wildfire risk to the capital markets. Issuance of cat bonds that include exposure to wildfires has already soared to more than $5 billion so far this year, according …
Via: Claims Journal
TikTok is finalizing agreements to settle three upcoming trials related to allegations that its video product is addictive and harmful to minors. Plaintiffs’ attorneys Joseph VanZandt of Beasley Allen and Emily Jeffcott of Morgan & Morgan confirmed TikTok had resolved …
Via: Claims Journal
Hackers have found a software flaw in a brand of “cold” Bitcoin wallet — considered one of the safest places to store cryptocurrency — and are siphoning tens of millions of dollars in an ongoing attack. Late last week, Canada-based …
Via: Claims Journal
Executives are questioning the value of an MBA in the AI-era. Some 86% of the more than 1,000 U.S. financial services executives surveyed by consulting firm PricewaterhouseCoopers LLP say they think AI training is more valuable than an MBA for …
Via: Claims Journal
Hundreds of structures have been destroyed and tens of thousands have been evacuated, as wildfires rip through eastern Washington.
Via: Claims Journal
Twin City Fire Insurance Co. said it is not obligated to cover a Virginia employer’s $10 million punitive damages penalty for racial bias because the company’s behavior was found by a jury to be intentional. The employer, Society for Human …
Via: Claims Journal
Chrysler-parent Stellantis said Friday it will recall just over 1.5 million Ram 1500 pickup trucks worldwide over a seat belt issue. The recall covers 2019–2026 Ram 1500 vehicles that may have been built with a second-row center or second-row driver …
Via: Claims Journal
A German court ruled on Friday that AI music firm Suno violated copyrights and has to disclose illicit revenue, part of a wider legal battle by artists and publishers against technology firms. The Munich-based regional court said Suno did not …
Via: Claims Journal