Developers, suppliers, and users of artificial intelligence must comply with existing state consumer protection, anti-discrimination, and data privacy laws, the Massachusetts attorney general cautioned Tuesday.
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California Bill Would Require Insurers to Consider Fire Mitigation When Setting Coverage, Rates
The American Property Casualty Insurance Association is urging California lawmakers to slow down on legislation that would require insurers to factor state and private fire mitigation efforts into decisions on coverage and rates.
FBI Says Chinese Hackers Preparing to Attack U.S. Infrastructure
Chinese government-linked hackers have burrowed into U.S. critical infrastructure and are waiting “for just the right moment to deal a devastating blow,” FBI Director Christopher Wray said on Thursday.
Marsh McLennan CEO: Economics, Geopolitics Drive Up Price of Risk
Marsh McLennan sees strong growth opportunities amid a year of economic and geopolitical uncertainty that is raising the price of risk, according to its chief executive officer. The geopolitical environment remains unsettled, with multiple major wars and rising tensions politically, said President and CEO John Q. Doyle in a conference call. As more than half… Continue reading Marsh McLennan CEO: Economics, Geopolitics Drive Up Price of Risk
California Homeowners Insurance Crisis: Thousands to Lose Coverage as Two More Insurers Withdraw
In filings with the California Department of Insurance, Tokio Marine America Insurance Company and Trans Pacific Insurance Company said they would both withdraw from the homeowners and personal umbrella insurance markets in California. Both are subsidiaries of Tokio Marine Holdings Inc., a Japanese company.
Home Sales in March Had Biggest Decline in 16 Months
Home sales in March posted their biggest decline in more than a year, reversing course after a positive start this year as rising mortgage rates frightened off buyers.
Travelers President: Improvements in Florida Not Enough to Reopen Homeowners
Florida’s homeowners market may look better than it has in the past, but Travelers Cos. is still steering clear, according to Travelers Personal Insurance President Michael Klein.
New Study Calculates Climate Change’s Economic Bite Will Hit Nearly $38 Trillion Annually by 2049
Climate change will reduce future global income by about 19% in the next 25 years compared to a fictional world that’s not warming, with the poorest areas and those least responsible for heating the atmosphere taking the biggest monetary hit, a new study said.
Supreme Court Makes It Easier to Sue for Job Discrimination Over Forced Transfers
The Supreme Court on Wednesday made it easier for workers who are transferred from one job to another against their will to pursue job discrimination claims under federal civil rights law, even when they are not demoted or docked pay.
Microcaptives Make Internal Revenue Service 2024 ‘Dirty Dozen’ List of Tax Scams
The federal Internal Revenue Service listed microcaptive insurance programs on its 2024 “Dirty Dozen” list of 12 tax scams, saying the programs can prove to be bogus tax avoidance strategies.