Federal regulators have reached a deal that allows them to proceed with antitrust investigations into the dominant roles that Microsoft, OpenAI and Nvidia play in the artificial intelligence industry, in the strongest sign of how regulatory scrutiny into the powerful technology has escalated.
Author: Annie George
Tesla Hires Former Geico Exec to Bring Down Costs for Owners of Its Electric Cars
Tesla has hired 20-year insurance veteran Allen Laben as its head of strategic insurance partnerships, where he will work with carriers and collision shops to bring down the cost of insuring its cars.
Baby Reindeer’s Real-Life Martha Pursues Netflix with $170M Defamation & Negligence Suit
A Scottish woman who says it only took thousands of Reddit and TikTok users “a matter of days” to identify her as the inspiration behind a stalker in Netflix’s Baby Reindeer series has filed a $170 million defamation lawsuit against Netflix and the show’s creator, Richard Gadd.
Insurance Crisis in Florida, Across the Nation, Gets National Spotlight
A rare national spotlight on one of the top concerns on the minds of Floridians. On Wednesday, the U.S. Senate Budget Committee debated the cause of the insurance crisis plaguing homeowners around the country.
Chicago Fed Warns of ‘Fire Sale’ Risk After Life Insurers Load Up on Private Debt
U.S. life insurers are piling into higher-returning but illiquid and opaque privately placed debt, raising concerns about what happens should they suddenly need to sell the securities.
AM Best Director Highlights Importance of Stress Testing in Rating Process
Robert Raber, director of criteria, AM Best, said stress testing involves subjecting rated entities to various scenarios that could affect their balance sheet strength or enterprise risk management to assess their ability to respond
Chubb to Acquire General Aviation Insurance Specialist in Australia
Chubb announced a definitive agreement to acquire Catalyst Aviation Insurance, a Melbourne-based managing general agent that specializes in general aviation insurance for the Australia market.
CNA Announces Executive Leadership Transition
CNA Financial Corporation announced today that Executive Vice President & Global Head of Underwriting Doug Worman will become President and Chief Executive Officer of the company as of January 1, 2025
Gallagher Specialty Launches New Carbon Insurance Solutions Service
Gallagher Specialty has launched a new carbon insurance solutions service for its clients which will reportedly enable them to mitigate risks associated with de-carbonization initiatives.
Moody’s Changes Outlook of Personal Lines Insurance Sector to Stable
Moody’s has changed the outlook for the US property & casualty (P&C) personal insurance sector to stable from negative, reflecting continued improvement in underwriting results.