News
GM’s Cruise Unit to Receive Hefty Penalty for Delaying Report on California Accident
A California regulator said on Thursday it is imposing the maximum penalty possible on General Motors' Cruise unit for its failure to promptly provide complete information to the commission about an ...
Risky Driving Behavior, Advanced Tech Led to Higher Claim Frequencies in Auto
The auto insurance market is seeing higher claims frequency, in part, due to increasingly risky driving behavior and greater EV adoption which comes with expensive advanced technology, according to ...
Allstate Reports May Pretax Catastrophe Losses of $1.4B
Allstate Corp. on Thursday reported May pretax catastrophe losses of about $1.4 billion. The Northbrook, Illinois-based insurer said 14 events contributed to nearly $1.5 billion in catastrophe losses ...
As Premiums Decline, Pricing Softens for U.S. D&O Liability Insurance
Better underwriting results in the U.S. directors & officers (D&O) liability line "will likely add downward pressure on rates amid decreased demand in the segment", according to a new AM Best ...
Former OpenAI Chief Scientist to Start New Company Boasting Safer AI
ChatGPT maker OpenAI's co-founder and former chief scientist Ilya Sutskever said on Wednesday that he was starting a new artificial intelligence company. The company is focused on creating a safe AI ...
Survey: Payment Fraud a Growing Concern for Businesses
Small businesses are increasingly concerned about payment fraud. That's according to a small business survey from regional bank KeyBank. Nearly 2,000 small-to-medium size business with annual revenue ...
Survey: U.S. Business Owners Seek More Insurance Coverage as AI, Election Risks Loom
Artificial intelligence and the U.S. election have emerged as significant risks to businesses this year with an overwhelming 80 percent of owners worried their insurance will not cover a specific ...
R&Q to File for Liquidation in Bermuda, but Sale of Accredited Will Proceed
R&Q Insurance Holdings Ltd. announced it will file for a provisional liquidation in Bermuda — after it had exhausted strategic alternatives for a financial rescue. At the same time, R&Q ...