Just under half of property/casualty insurers recently surveyed by WTW say they plan to incorporate artificial intelligence into their analytics (49%), but most have yet to bring “traditional” analytics into areas other than pricing, WTW reports. “While there is much …
Dozens more former youth inmates filed lawsuits seeking millions of dollars in damages for sexual abuse they allegedly endured at Illinois detention centers dating back to the late 1990s. Thirteen women and 95 men filed two separate lawsuits Friday in …
Hilb Group announced and closed the sale of the assets of the wholly-owned subsidiary German American Insurance (GAI) to Hilb Group in an all-cash transaction of $40 million. The sale creates a significant after-tax gain, net of transaction costs, of …
AM Best has downgraded the Financial Strength Rating to B (Fair) from B+ (Good) and the Long-Term Issuer Credit Rating to “bb” (Fair) from “bbb-” (Good) of Farm Bureau Mutual Insurance Company of Arkansas, Inc. Concurrently, AM Best has maintained …
Louisiana could soon bar banks that “discriminate” against firearm entities from working on government contracts, after lawmakers advanced legislation that’s similar to a Texas statute that has whipsawed Wall Street firms’ public-finance work. State lawmakers passed Senate Bill 234 last …
Kansas Insurance Commissioner Vicki Schmidt announced that a Kansas man has been sentenced to six months of probation for insurance fraud. Robert Heidbreder, age 30, pleaded guilty in the District Court of Sedgwick County to one misdemeanor count of insurance …
Arthur J. Gallagher & Co., the Rolling Meadows, Illinois-based broker, announced that its specialist underwriting subsidiary Pen Underwriting has acquired Ireland’s Wrightway Underwriting Ltd. Terms of the transaction were not disclosed. Based in Wexford, Ireland, Wrightway is a managing general …
Greenhouse gases produced by human activity made the recent deadly flooding in Brazil twice as likely as it would have been in the preindustrial era, according to a rapid analysis of the event by World Weather Attribution (WWA), an international …
Services at several London hospitals were disrupted after a provider that helps manage blood transfusions and lab services was hit by a ransomware attack. Lab services provider Synnovis confirmed the attack in a statement on Tuesday and said it was …
Unregulated tankers sidestepping Western sanctions are posing a bigger risk to the Mediterranean region and Greece is undertaking more protective measures to safeguard its coast, the country’s shipping minister told Reuters on Tuesday. Up to 850 oil tankers are estimated …