News
PHLY Makes Largest Acquisition in Its History With Collector Car Business Expansion
Philadelphia Insurance Companies announced the acquisition of the Collector Vehicle Division from Ignyte Insurance, a Carlyle-backed portfolio company. The transaction, valued at $615 million, is the ...
FIO: Insurer Litigation Expenses Dipped Slightly Between 2023 and 2024
Insurer litigation expenses declined slightly between 2023 and 2024 and potentially benefitted from state legal reforms to address increasing litigation costs, the U.S. Department of the Treasury's ...
Air Pollution Sharply Increases Workplace Accident Risk: Study
Air pollution can make workplaces more dangerous, according to scientists from Yonsei University. Analyzing 5,873 safety liability accidents in China over 20 years, the researchers found that ...
U.S. Road Safety Agency Probes Tesla About ‘Mad Max’ Driver Assistance Mode
The National Highway Traffic Safety Administration said on Friday it is seeking information from Tesla about a new driver assistance mode dubbed "Mad Max" that operates at higher speeds than other ...
Mistake-Filled Legal Briefs Reveal Limits of Relying on AI Tools at Work
Judges around the world are dealing with a growing problem: legal briefs that were generated with the help of artificial intelligence and submitted with errors such as citations to cases that don't ...
AIG Joins Private Equity Firm Onex to Acquire Convex Group
Convex Group Ltd., the Bermuda-based specialty insurer and reinsurer, announced a new, long-term ownership structure led by private equity firm Onex Corp., with American International Group becoming ...
California Commissioner’s Regulation to Prevent Insurance Crises From Climate Disasters, Cyber Threats, AI
California Commissioner Ricardo Lara is proposing a regulation aimed at mitigating rising insurance costs and safeguarding the state's insurance market from catastrophic risks and technological ...
Federato Launches Tech to Tackle Underwriter Fears of Falling Behind
Federato, an InsurTech focused on underwriting intelligence, has launched an agentic AI platform designed to help insurers harness technology to assess, quote, and manage risk. The new solution aims ...