Today's Insurance News

Automatic updating insurance news with the latest trends and ideas in the insurance industry.

Texas Jury Finds LSD did not Cause Spinal Injury, Requires Occidental to Pay HO Limits
Posted on Wednesday February 21, 2024

When does a hallucinogenic drug become the direct cause of a catastrophic injury, triggering a homeowners’ policy exclusion? Not when a young man falls out of bed and is later moved by his comrades, potentially worsening a spinal injury, a …

P&I Clubs Raise Renewal Prices to Keep Up With Claims Inflation: AM Best
Posted on Wednesday February 21, 2024

Protection and Indemnity (P&I) clubs sought further price improvements at the February 2024 renewals in order to keep up with claims inflation, despite a relatively benign year for P&I claims in 2023, according to a report from AM Best. The …

‘AI Godfather’, Others Urge More Deepfake Regulation in Open Letter
Posted on Wednesday February 21, 2024

Artificial intelligence experts and industry executives, including one of the technology’s trailblazers Yoshua Bengio, have signed an open letter calling for more regulation around the creation of deepfakes, citing potential risks to society. “Today, deepfakes often involve sexual imagery, fraud, …

Inszone Insurance Services Acquires Frank Vitale Insurance Agency
Posted on Wednesday February 21, 2024

Inszone Insurance Services acquired Frank Vitale Insurance Agency in Soquel, California. The agency’s primary focus has been on insuring the construction industry, offering specialized coverage such as worker’s compensation, general liability insurance, general contractors insurance, and equipment insurance. Sacramento, California-based …

King Insurance Acquires New Jersey’s Mehta Agency
Posted on Wednesday February 21, 2024

Florida-based King Insurance Partners reports it has acquired Mehta Insurance Agency, located in Absecon, New Jersey. Mehta Insurance Agency’s offerings include business, flood and life insurance. Sunil Mehta said that integrating with King will allow the agency to continue serving …

New York State’s Commission on Ethics Facing Judicial Test
Posted on Wednesday February 21, 2024

Months after a judge ruled that New York’s ethics watchdog violated the state constitution because it was too independent, a state lawyer told an appeals court that officials had the right to create a corruption-fighting commission more insulated from the …

Woman Drops Lawsuit Alleging Billionaire Financier Raped Her
Posted on Wednesday February 21, 2024

A woman who accused billionaire Leon Black of raping her two decades ago at the Manhattan mansion of disgraced financier and sex offender Jeffrey Epstein has ended her lawsuit against the Apollo Global Management co-founder. Cheri Pierson dismissed her claims …

People Moves: Lockton Names Goldenberg Executive Vice President, Operations; Elder Promoted to Global CUO, Specialty at AXA XL
Posted on Wednesday February 21, 2024

Lockton, headquartered in Kansas City, Missouri, named Steve Goldenberg executive vice president, operations. He will be based in Kansas City and lead strategic initiatives, recruit talent, and build innovative solutions. Goldenberg joins Lockton from Aon where he held several senior …

Long-Serving Delaware Chancery Court Judge to Retire at Year’s End
Posted on Wednesday February 21, 2024

Delaware’s nationally important Court of Chancery, which has come under criticism from Elon Musk this month, is losing its second-longest-serving judge. Sam Glasscock, who has served on the go-to venue for U.S. corporate disputes since 2011, plans to retire in …

Biden Seeks to Bolster Port Cybersecurity With Executive Order
Posted on Wednesday February 21, 2024

President Joe Biden will sign an executive order designed to implement new cybersecurity requirements for the nation’s port owners and operators amid growing concerns that hackers could roil crucial supply chains. The order will give the US Coast Guard new …

Lockbit Hackers’ Swagger on Display After Police Leak Identities Online
Posted on Wednesday February 21, 2024

One of the world’s biggest criminal hacking gangs woke up on Tuesday to a startling discovery: Law enforcement, after taking over their main website on Monday, were now threatening to reveal their personal details and data about their cybercrime organization. …

What Is Cybercriminal Group Lockbit?
Posted on Wednesday February 21, 2024

A cybercriminal group named Lockbit, which was broken up by an international law enforcement operation this week, has hacked some of the world’s largest organizations in recent months, stealing and leaking their sensitive data if they didn’t pay ransom. Here …

Autonomous Truck Market Surging, Study Finds
Posted on Wednesday February 21, 2024

The demand for autonomous trucks is estimated to increase from $3.3 billion in 2023 to reach $6.9 billion by 2028, according to a new study by BCC Research. Leveraging 2022 data as a baseline, the study projects estimated market data …

FuboTV Files Antitrust Lawsuit to Block Disney, Fox, Warner Sports Streaming Deal
Posted on Wednesday February 21, 2024

Sports-focused streaming service FuboTV said on Tuesday it has filed an antitrust lawsuit against Walt Disney, Fox and Warner Bros Discovery over a planned sports streaming platform by the companies. Fubo alleges in a statement that the media companies have …

Alfa Insurance Did Not Discriminate Against Worker with MS, Appeals Court Finds
Posted on Wednesday February 21, 2024

Alfa Insurance, one of the largest property/casualty insurers in Alabama, did not discriminate against an employee with multiple sclerosis and did not violate the Americans with Disabilities Act, a federal appeals court affirmed. The 11th U.S. Circuit Court of Appeals …

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