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Ex-AIG Employees, Seeking Back-Bonuses of $100M, Win British Court Ruling
A group of former traders and managers at American International Group Inc. won a London judge’s backing in their battle to obtain $100 million dating back to the financial crisis, after he said that the insurance giant couldn’t put forward …
POSTED JUNE 26, 2019 6:00 AM |
Jury Awards $3M-Plus in Michigan Misdiagnosed Epilepsy Case
A Michigan jury has awarded more than $3 million to a woman who was misdiagnosed with epilepsy, one of hundreds of people to accuse a Detroit-area doctor of misreading tests to enrich himself and his employer. Dr. Yasser Awaad was …
POSTED JUNE 26, 2019 5:55 AM |
Senators Eye Making Tech Giants Reveal How Much Customers’ Data Is Worth
As Congress bears down on big tech companies, two senators want to force giants like Google, Facebook and Amazon to tell users what data they’re collecting from them and how much it’s worth. The legislation floated this week by Sens. …
POSTED JUNE 26, 2019 5:00 AM |
Data-Driven Insurance Future Clouded by Data Ownership Uncertainty
Insurers need to learn to share their data if they want to take full advantage of the mountain of information generated from connected devices, insurtech executives say. Along the way, somebody’s got to figure out who owns the data. Presentations …
POSTED JUNE 26, 2019 5:00 AM |
Porsche Auto Maker Offers Mileage-Based Auto Insurance in 2 States
Owners of Porsche autos now have their own Porsche auto insurance. The mileage- based coverage is available to all Porsche owners with vehicles 1981 and newer that are garaged in Illinois and Oregon. The company said it will be expanding …
POSTED JUNE 26, 2019 5:00 AM |
Florida Keys to Receive $21M for Hurricane Irma Recovery
Officials say the Florida Keys will receive $21 million for Hurricane Irma recovery, along with $35 million for affordable housing. Gov. Ron DeSantis announced the money during a Thursday news conference in Marathon. The $21 million comes from the Florida …
POSTED JUNE 26, 2019 4:58 AM |
North Carolina, Feds to Purchase 24 Generators for Use During Storms, Disasters
North Carolina and the federal government are paying over $1.4 million for 24 generators and other help so communities can keep the power on at public infrastructure during storms and disasters. The money will go mostly toward generators, with the …
POSTED JUNE 26, 2019 4:55 AM |
Kentucky Looks to Encourage Insurtech Investments Through Regulatory ‘Sandbox’
The Kentucky Legislature has passed the first state law in the U.S. providing comprehensive framework for an insurance regulatory “sandbox” for insurance technology products. The new regulatory sandbox, which will be administered by the Kentucky Department of Insurance (DOI), allows …
POSTED JUNE 26, 2019 4:31 AM |
Transatlantic Underwriters Names Waltenburg Vice President in West
Transatlantic Underwriters has named Colby Waltenburg vice president. Waltenburg will be coordinating the opening of a new office for TAU on the West Coast. Waltenburg has worked in most aspects of wholesale property/casualty insurance operations since 1997. He was previously …
POSTED JUNE 25, 2019 6:39 PM |
Opioid Lawsuits Unlikely to Top Tobacco Settlements
An Oklahoma case, the first of more than 1,600 lawsuits filed by U.S. state and local governments against opioid makers to go to trial, could serve as a key benchmark for governments hoping to recoup costs associated with the public …
POSTED JUNE 25, 2019 4:36 PM |
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