News
Munich Re Unit to Cut 1,000 Positions as AI Takes Over Jobs
Munich Re's primary insurance unit ERGO aims to cut about 1,000 positions in Germany, partly as a result of its increased use of artificial intelligence. The cuts affect simple and repetitive tasks ...
CFC Owners Said to Tap Banks for Sale, IPO of £5 Billion Insurer
Private equity firms EQT AB and Vitruvian Partners are working with advisers as they explore strategic options for their investment in cyber insurer CFC, according to people familiar with the matter. ...
Legislation Revived to Protect Drivers From Underride Crashes
New legislation was introduced earlier this month to protect drivers from deadly tractor-trailer accidents. The Stop Underrides Act2.0 would require side underride guards on new trucks and direct ...
AI Claim Assistant Now Taking Auto Damage Claims Calls at Travelers
The Travelers Companies announced the launch of AI Claim Assistant, a fully agentic intelligent voice service to handle customer claim calls. The service, developed using OpenAI model capabilities ...
Bayer Investors Concerned Over Proposed Deal to Settle Roundup Litigation for $7.25B
Bayer's shares slumped as much as 9.2% on Wednesday, wiping out the previous day's gains, as investors questioned whether a proposed $7.25 billion settlement of cancer lawsuits over its Roundup ...
Questions Remain Despite Mandatory Driver Impairment Sensors Clearing Funding Hurdle
A federal law requiring impairment-detection devices inside all new cars survived a recent push to strip its funding but remains stalled by questions about whether the technology is ready. Rana Abbas ...
Pinion Insurance Launches With Up to $180M Commitment From Barings
Specialty insurance platform Pinion Insurance announced its launch yesterday. The company will offer insurance capacity for managing general agents (MGAs) across the U.S., U.K. and European markets ...
World’s Growing Civil Unrest Has an Insurance Sting
A category of insurance risk that hardly existed a little over a decade ago has morphed into a meaningful source of losses for the industry. Claims tied to SRCC — strikes, riots and civil commotion ...