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 …
Scott Stephenson, former chairman, president, and CEO of Verisk Analytics, joined the board of directors at ZestyAI, a San Francisco, California-based risk and decision intelligence platform for the insurance industry. Stephenson spent more than two decades at Verisk, including nine …
Aon plc is expanding its proprietary Data Center Lifecycle Insurance Program (DCLP) with an additional $1 billion, increasing the program’s capacity to $3.5 billion. In addition, coverage will extend to include existing data centers coming off the first year of …
Helvetia Baloise Holding AG said it aims to return some 2.8 billion Swiss francs ($3.6 billion) to investors over the period to 2028, as the newly-merged insurer sets financial targets for the first time. The company proposed a dividend of …
Africa’s leading multilateral insurer of trade risk is seeking around $500 million in capital from partners to support countries that face higher costs as a result of conflict in the Middle East, its chief executive told Reuters. African Trade & …
European Central Bank supervisors are set to quiz bankers about the risks that Anthropic’s new artificial intelligence model might supercharge cyberattacks, one source familiar with the situation told Reuters on Wednesday. Anthropic’s Mythos is seen by cybersecurity experts as posing …
Russia’s intelligence services are now seeking to damage European infrastructure with cyber attacks rather than merely overwhelm websites with excess traffic, Swedish Civil Defense Minister Carl-Oskar Bohlin said. “Over the past year, Russia’s methods have shifted,” Bohlin said during a …
The US and Iran are considering a two-week ceasefire extension to allow more time to negotiate a peace deal, according to a person familiar with the matter, reducing the risk of renewed fighting despite an intensifying standoff over the Strait …