OpenAI on Tuesday slammed Elon Musk’s lawsuit against the organization and released a trove of emails purportedly sent by the billionaire showing that he backed the creation of a for-profit entity.
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IICF Southeast Raises $1M for Charity at Annual Gala
The Insurance Industry Charitable Foundation (IICF), a unique nonprofit organization dedicated to helping communities and enriching lives, raised $1 million at its 12th annual IICF Southeast Gala at the Omni PGA Resort in Frisco, Texas last week.
Impact of Climate Change on Property Insurance Rates
How Increasing Natural Disasters Influence Premiums and Underwriting Strategies The property insurance sector is facing unprecedented challenges as the impact of climate change becomes more pronounced. With an uptick in the frequency and severity of natural disasters such as hurricanes, wildfires, and floods, insurers are grappling with the task of adjusting their premiums and… Continue reading Impact of Climate Change on Property Insurance Rates
Hacker Forum Post Claims UnitedHealth Paid $22M Ransom in Bid to Recover Data
A post on a hacker forum popular with cybercriminals has claimed UnitedHealth Group paid $22 million in a bid to recover access to data and systems encrypted by the “Blackcat” ransomware gang, according to two researchers.
Legal System Abuse Adding to Increasing Auto Insurance Costs
The Insurance Information Institute (Triple-I), the trusted source for data driven insights on risk and insurance, today released its latest issues brief highlighting how excessive litigation is compounding a years-long problem of rising auto insurance costs.
AM Best Assigns Negative Outlook to U.S. Directors and Officers Insurance Segment
AM Best has assigned a negative outlook to the U.S. directors and officers (D&O) market segment, citing growing competition as a key factor that has led to more capacity and lower pricing.
Former Twitter Executives Sue Musk Over Unpaid Severance
Four former top Twitter executives sued Elon Musk, saying he owes them a collective more than $128 million in severance.
Judge Strikes Down Law Requiring Corporate-Ownership Disclosure
An Alabama federal judge ruled the Corporate Transparency Act, a sweeping bipartisan anti-money-laundering law passed in 2021, was unconstitutional, leaving its future uncertain.
Verisk Expands Fraud-Fighting Capabilities for the Insurance Ecosystem with Two New Strategic Partnerships
Verisk announced two new collaborations with insurance technology companies designed to bolster fraud detection and analysis in the insurance claims process.
Premium Increases Slowed, Challenging Conditions Remain in Q4 2023: CIAB
Premium increases slowed across the board in Q4 2023 according to The Council’s recently released quarterly survey. The average premium increase across all account sizes was 7.0%, down from 8.1% in the previous quarter. Nevertheless, this was still the 25th quarter of consecutive increases.