Marsh aims to be an “AI winner” through growth, productivity and efficiency gains, according to John Doyle, president and CEO of the broker and risk adviser. “[W]e see AI as a powerful accelerator and enabler in delivering value to our …
Shipping companies have cautiously welcomed Iran’s announcement that the Strait of Hormuz is open but said they would require clarifications before vessels move through the entry point to the Gulf. Foreign Minister Abbas Araqchi said on Friday that the Strait …
A federal judge last month approved a preliminary class settlement resolving claims that State Farm underpaid Arkansas policyholders for total loss vehicle claims by applying an erroneous valuation method. Under the settlement agreement, State Farm will pay $15.6 million to …
India has approved a maritime insurance pool of 129.8 billion Indian rupees ($1.40 billion), Ashwini Vaishnav, minister for Information and Broadcasting, said on Saturday. The pool is for 10 years can be extended to five more years, Vaishnav said in …
A grand jury indicted a Florida doctor on a manslaughter charge for allegedly removing a patient’s liver instead of his spleen during a 2024 surgery. The prosecutor for the First Judicial Circuit on Monday announced the charge of second-degree manslaughter …
An insurance industry supported wildfire mitigation designation program has been expanded into 10 additional high-risk states with Florida being one. The expansion comes at a time when Florida is experiencing widespread drought conditions and state officials are concerned that the …
Citing progress on a potential compromise with the insurance industry’s rate bureau, North Carolina Insurance Commissioner Mike Causey has rescheduled a hearing on proposed dwelling insurance rate increases from May 4 to July 6. The North Carolina Rate Bureau is …
California Gov. Gavin Newsom is advancing a plan that could funnel hundreds of millions in road dollars to a struggling oil refinery—pitching it as a cleaner jet fuel initiative. The credit, drawn from funds voters designated for highways and local …
The world’s largest insurance brokers recently found themselves caught in an “AI scare trade” after news that Tuio home insurance would soon be available via ChatGPT. Shares fell sharply, as investors questioned whether intermediaries could be bypassed altogether. That reaction …
For years, a segment of the Florida property insurance industry had lobbied for more access to the lower-cost reinsurance offered by the state-sanctioned Florida Hurricane Catastrophe Fund—mainly through a lowered retention, or deductible, level. Today, three years into Florida’s tort-reform …