Growing Reliance on Big Tech for AI Carries New Risks, Banks Say June 7, 2024 By Elizabeth Howcroft The boom in artificial intelligence will increase banks’ dependence on big U.S. tech firms, creating new risks for the industry,...
Markets/Coverages: MGA Nirvana Renews Media, Tech & Cyber Binder With Increased Media Liability Line June 7, 2024 Nirvana, the London-based managing general agent and Lloyd’s coverholder, announced the renewal of its Media/Technology Errors & Omissions and Cyber...
People Moves: Ascot Underwriting Names Thompson as CEO, Keith Named Head of Ascot Bermuda; Geneva Assn. Appoints AIA’s Top Executive as Chair June 7, 2024 This edition of International People Moves details appointments at Ascot Underwriting Ltd. and Ascot Bermuda, along with The Geneva Association....
Amazon Accused of Misusing Small Sellers’ Data in $1.3 Billion UK Lawsuit June 7, 2024 Amazon is facing a one billion-pound ($1.3 billion) collective lawsuit from British retailers who allege that the online marketplace misused...
Russian Hackers Claim Cyberattack on Spanish Defense Company June 7, 2024 Santa Barbara Systems, a General Dynamics subsidiary in Spain that is refurbishing Leopard tanks for delivery to Ukraine, suffered a...
5th Circuit: Louisiana Law Voids Arbitration Clause in Surplus Lines Policies June 7, 2024 By Ezra Amacher A panel of the 5th Circuit Court of Appeals ruled this week that a Louisiana statute voids the formation of...
Insurers to Build Private Credit Exposure in Coming Years: Moody’s June 7, 2024 By Matt Tracy Global insurers plan to invest further in the coming years in the growing but opaque private credit market, according to...
UK Court Decides Aircraft Disputes to Be Heard in Ukraine, Not London June 7, 2024 A legal battle between insurers and aircraft leasing companies over jets stuck in Ukraine should be heard in Ukraine rather...
Report Shows Increase in Total EV Loss Claims June 7, 2024 A new report shows a jump in total loss frequency for both electric and newer internal combustion engine automobiles. Mitchell...
World Meteorological Organization: Good Chance for More Record-Setting Global Temps June 7, 2024 By Don Jergler A new study on adoption of behaviors that reduce personal carbon emissions in 37 countries and territories classified as “high-emissions”...