Travelers to Buy Cyber MGU Corvus for $435 Million November 3, 2023 The Travelers Companies today said it has agreed to buy cyber managing general underwriter Corvus Insurance Holdings, Inc. for about...
Ex-Crypto Mogul Sam Bankman-Fried Convicted of Multi-Billion Dollar FTX Fraud November 3, 2023 By Luc Cohen and Jody Godoy FTX founder Sam Bankman-Fried was found guilty Nov. 2 of stealing from customers of his now-bankrupt cryptocurrency exchange in one...
FIO’s Climate-Related Financial Risk Data Collection Finalized November 3, 2023 By Don Jergler The Department of Treasury’s Federal Insurance Office finalized its proposed Climate-Related Financial Risk Data Collection. The FIO in June released...
New FTC Court Filing: Amazon Made $1B Through Secret Price Algorithm November 3, 2023 By Diane Bartz, Arriana McLymore and David Shepardson Amazon.com used a series of illegal strategies to boost profits at its online retail empire, including an algorithm that pushed...
Tesla Wins First US Autopilot Trial Involving Fatal Crash November 3, 2023 By Dan Levine and Hyunjoo Jin Tesla on Oct. 31 won the first U.S. trial over allegations that its Autopilot driver assistant feature led to a...
Harvard Claims Marsh Is to Blame for Its Loss of $15M in Coverage for Admissions Fight November 2, 2023 By Andrew G. Simpson Having lost two bids to recover $15 million from its insurer to cover costs related to its failed defense of...
Progressive in a Better Place With Reserve Boosts Done, CEO Says November 2, 2023 By Susanne Sclafane Shoring up loss reserves and adding “the premium equivalent” of a top 8 personal auto insurer to its books has...
People Moves: Multiple Moves at Markel Specialty as Sanders to Retire by 2024 End November 2, 2023 Markel said Bryan Sanders, president of its Markel Specialty division, plans to retire by December 31, 2024. Sanders, who joined...
Allstate, Allianz X Invest $265M in NEXT Insurance and Partner to Expand Reach November 2, 2023 NEXT Insurance said Allstate and Allianz X have invested $265 million in the digital small business insurer. NEXT and Allstate...
Jury Finds Realtors Liable for Inflating Commissions, Awards $1.78B Damages November 2, 2023 A U.S. jury on Tuesday found the National Association of Realtors and some residential brokerages, including units of Warren Buffett’s...