American International Group today announced that it has entered into a definitive agreement to sell Validus Re, including AlphaCat and the Talbot Treaty reinsurance business, to RenaissanceRe Holdings Ltd. for $2.985 billion.
Author: Annie George
Swiss Re Leaves Net-Zero Insurance Alliance
Reinsurer Swiss Re on Monday became the latest major company to leave a global climate alliance focused on reducing emissions that has faced growing political pressure in the United States.
FTC Warns Misuse of AI, Machine Learning Info Could Violate FTC Act
The Federal Trade Commission (FTC) warned that increasing use of consumers’ biometric information and related technologies, like those powered by artificial intelligence/machine learning, significantly elevates consumer privacy and data security concerns and the potential for bias and discrimination, and could be illegal.
Judge Throws Out Shareholder Lawsuit Against Elon Musk Over Twitter Buyout
A judge dismissed a proposed class-action lawsuit against Elon Musk that claimed he cheated Twitter shareholders several times last year in the course of buying the social media company for $44 billion.
Acrisure Accelerates Fintech Model
Acrisure announced today that it will begin to unify the Company under a single brand to best represent its status as a global Fintech leader that offers multiple financial products and services to millions of businesses and individual clients.
Experts Say Florida Property Insurance Premiums May Increase 40% This Year
Florida’s homeowners pay some of the highest property insurance premiums in the country — an average of three times the national average.
Meta Fined $1.3B Over Data Transfers to U.S.
Facebook owner Meta Platforms was fined $1.3 billion by European Union regulators for sending user information to the U.S., a record privacy penalty for the bloc.
Walgreens Agrees to Pay San Francisco Nearly $230M to Settle Opioid Lawsuit
Walgreens has agreed to pay nearly $230 million to San Francisco to settle claims that the pharmacy giant fueled the opioid epidemic that has plagued the city for decades.
Triple-I and NICB Join Forces to Help Homeowners Combat Post-Disaster Fraud Schemes
To highlight how homeowners can protect themselves from dishonest contractors, the Insurance Information Institute and the National Insurance Crime Bureau are marking Contractor Fraud Awareness Week.
Flood Insurance Costs in Florida Are About to Explode
Just as homeowners are realizing the increased risks of going without flood coverage, the Federal Emergency Management Agency has released data showing that coverage costs are exploding for properties in coastal areas most vulnerable to flooding.