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Two-Thirds of Independent Agencies Plan to Increase AI Use This Year, Survey Says
More than two-thirds of independent agencies plan to increase use of artificial intelligence in the next 12 months, though just 8% said AI is currently embedded in their daily workflows, according to ...
RLI Now Has ‘A++’ Rating from AM Best
AM Best announced upgrades to the financial strength ratings of the members of RLI Group on Friday, pushing the grades up to A++ (superior) from A+ (superior). The rating upgrades reflect RLI's ...
Hedge Fund Fermat Says Surge in Cat-Bond Sales Is ‘Breathtaking’
The co-founder of Fermat Capital Management says the market for catastrophe bonds is drawing in new issuers at a rate that's unlike anything he's seen before. John Seo, managing director and ...
Large Scale Cargo Ring Busted in LA, $5M Recovered
A multi-agency investigation led to five arrests last week in a large-scale cargo ring bust, according to a statement from the Los Angeles Police Department's (LAPD) Commercial Crimes Division Cargo ...
Prosecutors Allege UK Aircraft Parts Firm’s Fraud Caused Millions in Losses
The director of a London-based airline parts company used forged documents to sell tens of thousands of engine parts, causing large losses for aviation industry giants including American Airlines, GE ...
PacifiCorp Settles Federal Claims Over Oregon, California Wildfires for $575M
PacifiCorp has agreed to pay $575 million to resolve the federal government's claims for damages stemming from six wildfires in Oregon and California in 2020 and 2022, federal officials announced ...
High Court Ruling on Trump Tariffs to ‘Ease Uncertainty,’ Says AM Best
AM Best said the U.S. Supreme Court's ruling against President Donald Trump's authority to impose sweeping tariffs will help to "ease uncertainty across the insurance industry." "Managing through ...
LA Fire Victims Suing City Utility for Billions Win Major Ruling
The water and power utility that serves the city of Los Angeles must face hundreds of lawsuits faulting its response to the massive 2025 wildfire that leveled one of the city's premier seaside ...