April 24, 2017

News You Can Use

Mon, 24 Apr 2017 05:00:59 +0000
Tesla Inc. is facing its first legal challenge over self-driving technology in a case alleging the electric carmaker sold 47,000 vehicles with Autopilot software that’s “dangerously defective” when engaged. Drivers have “become beta testers of half-bak...
Mon, 24 Apr 2017 05:00:53 +0000
The frequency of insurance claims surrounding mergers and acquisitions (M&As) is rising as large deals prove risky and the average payout on the most severe category of claims tops $20 million, according to an American International Group, Inc. study. ...
Mon, 24 Apr 2017 05:00:43 +0000
The federal government will provide states nearly half a billion dollars for prevention and treatment programs aimed at confronting the opioid epidemic, which Health and Human Services Secretary Tom Price described last week as a “crisis.” Price made t...
Mon, 24 Apr 2017 05:00:13 +0000
Physical property damage due to natural disasters, weather-related or man-made incidents, can be relatively straightforward to assess, but understanding how a different form of property causes damage can be a little more ambiguous, according to panelis...
Mon, 24 Apr 2017 04:22:09 +0000
Catastrophe modeling firm AIR Worldwide has released a new cyber risk modeling application for the insurance and reinsurance markets. ARC (Analytics of Risk from Cyber) is designed to evaluate any commercial policy (including those vulnerable to silent...
Mon, 24 Apr 2017 04:18:50 +0000
Florida Insurance Commissioner David Altmaier is just about to complete his first full year in the position since taking over for Kevin McCarty last May, and there hasn’t been a dull moment since he took the post. Altmaier, 35, is …
Mon, 24 Apr 2017 04:16:01 +0000
The quibbling continues over how much a South Carolina stripper should be compensated after being shot while on the job, with the state’s highest court on Wednesday ordering a new hearing in the woman’s case. The decision comes two years …
Mon, 24 Apr 2017 01:03:05 +0000
Global insurance broker and consultant Willis Towers Watson has named Joe Peiser as head of Broking, North America. Peiser will be responsible for the company’s broking strategy in North America, working with the insurance carriers to obtain the best ...
Fri, 21 Apr 2017 16:56:10 +0000
Allied World North America has expanded its risk management offerings to policyholders to include access to discounted unmanned aerial systems (UAS) services through DataWing, a UAS service provider led by former U.S. Air Force fighter pilots that prov...
Fri, 21 Apr 2017 15:43:28 +0000
Fremont County, Wyo. residents and disaster response officials are making preparations for spring flooding. Predictions are that the county could see its biggest runoff from the mountain snowpack in decades. National Weather Service hydrologists say th...
Fri, 21 Apr 2017 15:41:14 +0000
Idaho Gov. C.L. “Butch” Otter says residents facing possible flooding in some areas of the state aren’t taking what he calls a potential disaster seriously. About a dozen state and federal officials at a news conference Wednesday in Boise described …
Fri, 21 Apr 2017 15:26:06 +0000
Late in the afternoon of Feb. 12, Sheriff Kory Honea was at the emergency operations center for the tallest dam in America when he overheard someone say something that stopped him in his tracks: “This is not good.” Over six …
Fri, 21 Apr 2017 13:04:39 +0000
Pennsylvania’s attorney general’s office on Wednesday charged a dozen people as part of an organized crime ring that it said had made millions of dollars renting out fraudulently obtained license plates, primarily in New York City. The people who rented …
Fri, 21 Apr 2017 12:53:40 +0000
The Connecticut Insurance Department has launched a new licensing web site, designed to improve customer service for the nearly 200,000 agents, brokers, adjusters and other licensees who conduct business with the department. The new licensing site feat...
Fri, 21 Apr 2017 12:39:37 +0000
Texas Roadhouse, a national, Kentucky-based restaurant chain, will pay $12 million and furnish other relief to settle an age discrimin­ation lawsuit brought by the U.S. Equal Employment Oppor­tunity Commission (EEOC), the federal agency announced. Th...
Fri, 21 Apr 2017 12:17:48 +0000
Most meteorologists forecast the 2017 Atlantic hurricane season will be less active than a year ago, with the number of named storms and hurricanes near average. A few meteorologists, however, expect this season to be more active than normal with on...
Fri, 21 Apr 2017 11:29:45 +0000
President Donald Trump will order the Treasury on Friday to find and reduce tax burdens and review post-financial crisis reforms that banks and insurance companies have said hinder their ability to do business. A White House official said on Thursday...
Fri, 21 Apr 2017 10:22:36 +0000
Up to 4,100 children in France suffered major malformations in the womb after their mothers took a treatment against epilepsy and bipolar disorders known as valproate between 1967 and 2016, France’s drug regulator said. Valproate, which has been manufa...
Fri, 21 Apr 2017 09:53:14 +0000
Taxi app Uber could face an increase in operator license fees in London under proposed changes by the city’s transport authority, the latest in a series of moves by regulators to rein in a firm that has disrupted the traditional taxi industry. …
Fri, 21 Apr 2017 09:33:27 +0000
AXA has appointed Richard Benjamins as chief data officer (CDO) of the AXA Group and head of the Data Innovation Lab (DIL), effective May 2. Benjamins will report to Benoît Claveranne, chief transformation officer (CTO) and a member of the …
Fri, 21 Apr 2017 09:10:50 +0000
A Bavarian start-up is developing a five-seat “flying taxi” after successful test flights over Germany of a smaller version of the electric jet, the company said on Thursday. Munich-based Lilium, backed by investors who include Skype co-founder Niklas...
Fri, 21 Apr 2017 08:52:33 +0000
Nirvana Risk Partners has launched as an underwriting cell on Castel Underwriting Agencies’ MGA formation platform, targeting media, technology and cyber liability risks. Nirvana will underwrite risks for small and large enterprises on a global basis w...
Fri, 21 Apr 2017 08:27:56 +0000
Britain’s financial watchdog is investigating five insurance brokers over information-sharing on aviation insurance, the companies said, in one of the first cases of its kind by the watchdog. Aon, Jardine Lloyd Thompson (JLT), Marsh , UIB and Willis ...
Fri, 21 Apr 2017 08:18:58 +0000
The global insurance industry is set to grow more strongly at 4.5 percent per annum on average (3.0 percent in real terms, or adjusted for inflation) during 2017 and 2018, according to Munich Re. While premium income is likely to …
Fri, 21 Apr 2017 05:34:59 +0000
Florida may change the kinds of auto insurance drivers must purchase. The Florida House on Wednesday voted 89-29 to repeal a requirement that motorists carry a type of auto insurance known as personal injury protection. Under Florida’s no-fault insuran...
Fri, 21 Apr 2017 05:18:42 +0000
A former strip mine would be converted into a solar farm under a proposal announced Tuesday by an Appalachian coal company that says it wants to place hundreds of thousands of panels in the Kentucky mountains. The Berkeley Energy Group, …
Fri, 21 Apr 2017 05:00:51 +0000
“It’s like a Kardashian episode.” That outburst from an unidentified person spoke to the fact that private companies can make their affairs very public in bitter courtroom battles over management liability. The comment came during a panel discussion en...
Fri, 21 Apr 2017 05:00:49 +0000
After a four-year battle in the Florida Legislature, lawmakers on Wednesday passed statewide regulations for ridesharing companies like Uber and Lyft that would undo a patchwork of local rules across the state. “Florida’s patchwork of ridesharing regul...
Fri, 21 Apr 2017 04:33:13 +0000
A new report issued by a nonprofit organization says Memphis roads cost drivers more than any other in Tennessee. WMC-TV reports that national transportation research group TRIP evaluated road congestion and bad road conditions leading to car repairs o...
Fri, 21 Apr 2017 04:21:17 +0000
The Main Street America Group has made changes to its personnel, including promoting Tom Frazier, the company’s chief investment officer, to senior vice president. Frazier has been a Main Street America vice president and its chief investment officer s...