A roofing contractor in Florida buys a general liability policy. Between him and the capital that stands behind the policy sits a supply chain: a retail agent, a wholesale broker, an underwriter, a licensed carrier, a reinsurance panel and, increasingly, …
The head of market strategy at a London investment bank has a stark warning for investors: the artificial-intelligence trade may soon be over in what could trigger the most severe market crash since the global financial crisis. Equities have powered …
In one alarming announcement after another, artificial intelligence companies in recent months have shared examples of their technology acting in ways that appeared to evade instructions from humans. The episodes have highlighted the vulnerabilities in AI security and raised questions …
Selective Insurance Group Inc., headquartered in Short Hills, New Jersey, appointed Vaibhav (Vaib) Kalia as executive vice president and chief investment officer. Kalia has served as interim chief investment officer since June. In this role, Kalia oversees Selective’s investment portfolio …
San Francisco-based Corgi Insurance has launched fine arts coverage for individuals and businesses, and it introduced Golden by Corgi, a sports and entertainment insurance platform offering coverage through its surplus lines carrier. The fine arts coverage protects eligible artwork and …
Karen Clark & Co., long considered one of the more accurate catastrophe risk modeling firms, has announced its latest severe convective storm model—Version 5.0—now with a new option on roof values. “While previously, roof replacement cost was assumed to be …
Elon Musk’s SpaceX SPCX.O is seeking approval to build a natural gas pipeline in Florida to supply fuel for its rocket launched from Cape Canaveral, according to a state regulatory filing from September. A SpaceX subsidiary, Coastal Connect Services (CCS), …
McDonald’s has been sued in federal court in Chicago in a proposed nationwide class action alleging the fast-food company illegally coordinates menu prices across its franchises and company-owned restaurants through an AI-powered pricing system. The lawsuit, filed on Oct. 2, …
A new report revealed half of U.S. homeowners paid out of pocket for weather damage the past three years, and only 22% feel very financially prepared for an unexpected weather repair, according to tech-native insurance group Hippo Holdings. Hippo’s third …
A tropical depression in the Atlantic is forecast to strengthen into a hurricane and bring heavy rainfall and high winds to the central Gulf Coast this weekend. Tropical Depression 9 is expected to impact southeastern Louisiana to the Florida Panhandle, …