Chubb is doubling down on the global middle-market and small business segments, according to CEO Evan G. Greenberg, who highlighted […]
Mayor Adams Signs Law Reducing Insurance Requirement for NYC For-Hire Drivers
New York City Mayor Eric Adams has officially enacted legislation that lowers the minimum auto insurance coverage for for-hire vehicle […]
Erie Insurance Hit with Dual Lawsuits Over Alleged Cybersecurity Breach
Erie Insurance is now facing two separate class action lawsuits tied to an alleged data breach, even as the company […]
Trump Administration’s Memo Proposes Overhaul and Potential Elimination of FEMA
A newly uncovered memo sheds light on the Trump administration’s plans to dismantle the Federal Emergency Management Agency (FEMA) and […]
Delaware Company Fined Maximum Penalty After Worker’s Death in Ohio Plant
A Delaware-based manufacturing company with operations in Grove City, Ohio, has been fined $500,000—the maximum penalty permitted by law—after pleading […]
NYC Council Approves Bill to Reduce Insurance Coverage Requirements for For-Hire Vehicles
In response to pressure from a coalition of rideshare drivers and companies like Uber, the New York City Council has […]
AI’s Soaring Power Demands Revive Polluting Gas Turbines
When Stargate’s first AI-focused data center goes live next year, the 900-acre complex will require enough electricity to continuously power […]
Homeowner’s Lack of Review Doesn’t Free Insurance Agency from Negligence Suit
A North Carolina homeowner’s failure to read an insurance application does not exempt a local agency from a negligence lawsuit, […]
Auto Mechanic Sentenced to 33 Months in Federal Prison for $1.37 Million Fraud Scheme Targeting Missouri and Other Customers
Defendant also ordered to repay full restitution after years of deceptive business practices An Arizona-based auto mechanic has been sentenced […]
Liberty Mutual Reaches Settlement With Travelers Over Subcontractor Insurance Dispute in NYC Injury Case
Liberty Mutual has reached a settlement agreement with Travelers Insurance in a legal dispute involving coverage responsibilities after a serious […]
NOAA’s $1 Billion Disaster Database Retirement Raises Alarm for Insurers, Says AM Best
Industry Faces Potential Data Gaps in Secondary Peril Modeling, Pricing, and Risk Strategy. The insurance industry may soon face a […]
INSURANCE: DEFINITION, HOW IT WORKS, AND MAIN TYPES OF POLICIES
What Is Insurance? Insurance is a contract, represented by a policy, in which a policyholder receives financial protection or reimbursement […]