Silicon Valley Bank customers who saw their Cayman Islands deposits wiped down to zero have won a court ruling that could help them get their money back.
Author: Annie George
PG&E Seeks Roughly $7 Billion Federal Loan to Reduce California Wildfire Risk
PG&E has applied for a roughly $7 billion federal loan to fund its ambitious plans to reduce California wildfire risk by burying power lines and upgrading the electric grid, company executives said.
More Buyers Look to Captives Amid Challenging Property Market
At midyear 2023, the insurance market is essentially split into two different markets, with many property insurance buyers facing the most challenging market in 20 years, while the casualty and liability insurance market was less challenging, according to Arthur J. Gallagher & Co.
University of California Sues Lloyd’s Syndicates Over Cyber Insurance
The University of California is suing a number of insurance firms for refusing to pay out on cyber policies nearly 10 years after hackers breached data on millions of patients at its health system.
ChatGPT Creator OpenAI Sued for Theft of Private Data in ‘AI Arms Race’
ChatGPT creator OpenAI Inc. is stealing “vast amounts” of personal information to train its artificial intelligence models in a heedless hunt for profits, a group of anonymous individuals claimed in a lawsuit seeking class action status.
‘Climate Washing’ Lawsuits Jump As More Activists Challenge Corporate Claims, Report Shows
Climate washing” litigation has risen sharply in the last two years as environmental groups and governments grow frustrated with corporate claims about their contribution to tackling climate change, a report published on Thursday showed.
NJ Takes $393M to End ‘Forever Chemical’ Pollution Lawsuit
New Jersey agreed to a $393 million settlement with a South Jersey chemical company to pay for the cleanup of decades of PFAS pollution around its Gloucester County site.
States Clamp Down on Freight Trains, Fearing Derailments and Federal Gridlock
Spurred on by train derailments, some states with busy criss-crossing freight railroads are pursuing their own safety remedies rather than wait for federal action amid industry opposition and questions about whether they even have authority to make the changes.
Climate Risk a Major Challenge for Insurance Industry, Treasury Says
Climate-related risks are becoming an increasing challenge for insurers, the U.S. Treasury Department said, urging state regulators to step up their so-far “limited” efforts to address the issue.
Zywave Survey: Insurance Buyers Want Tailored Products, Regular Communication with Brokers
Nearly three-quarters of employers say they are either satisfied or very satisfied with the services their insurance brokers provide, but they have high expectations on coverage and communication, according to Zywave’s 2023 Brokers Services Survey.