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Category: Insurance Journal

Biden Signs Sweeping Executive Order Regulating Artificial Intelligence
Insurance Journal | October 30, 2023
Biden Signs Sweeping Executive Order Regulating Artificial Intelligence
President Joe Biden is directing the US government to take a sweeping approach to artificial intelligence regulation, his most significant action yet to rein in an emerging technology that has sparked both concern and acclaim. The lengthy executive order, released …
CNA Returns to Black in Q3 With Net Income of $258 Million
Insurance Journal | October 30, 2023
CNA Returns to Black in Q3 With Net Income of $258 Million
CNA Financial reversed a third quarter loss of $42 million in 2022 with net income of $258 million this year on higher investment income, positive underwriting income and lower catastrophe losses. The Chicago-based insurer said the combined ratio in its …
Duke Energy Plans Green Hydrogen Project in Florida
Insurance Journal | October 30, 2023
Duke Energy Plans Green Hydrogen Project in Florida
Electric utility Duke Energy plans to build a project to create clean energy using an end-to-end system to produce, store and combust 100% green hydrogen, in Florida. The new system, a collaboration between Duke, construction management and consulting firm Sargent …
Tennessee DCI Holds Webinar on Changes in Licensing Exam Program
Insurance Journal | October 30, 2023
Tennessee DCI Holds Webinar on Changes in Licensing Exam Program
The Tennessee Department of Commerce and Insurance will host a webinar Thursday, Nov. 2 to cover key changes in the state’s insurance license exam program. The Department said it has teamed up with Pearson VUE, a test administration firm, to …
Insurtech Hippo Lays Off 20% of Employees
Insurance Journal | October 30, 2023
Insurtech Hippo Lays Off 20% of Employees
Insurtech Hippo Holdings said it has “initiated an organizational realignment” by laying off about 120 employees, or 20% of its workforce. The company said in a filing with the U.S. Securities and Exchange Commission on Oct. 26 that it expects …
Texas Supreme Court Hears Arguments in Challenge to Public Adjuster Law
Insurance Journal | October 30, 2023
Texas Supreme Court Hears Arguments in Challenge to Public Adjuster Law
Insurers and the Texas Department of Insurance hope to persuade the state Supreme Court to block a constitutional challenge to a law that prohibits roofing contractors from acting as public adjusters on their customers’ damage claims. The high court heard …
Panama Removed From Gray List of Financial Crime Watchdog FATF
Insurance Journal | October 30, 2023
Panama Removed From Gray List of Financial Crime Watchdog FATF
Panama has been removed from the gray list of financial crime watchdog FATF, a register which includes countries deemed to be doing too little to combat money laundering, according to a government statement on Friday. The Central American country’s first …
Otis Likely to Be One of Costliest Hurricanes for Mexico Insurance Market: Gallagher Re
Insurance Journal | October 30, 2023
Otis Likely to Be One of Costliest Hurricanes for Mexico Insurance Market: Gallagher Re
Hurricane Otis is expected to be one of the costliest natural catastrophe events in Mexico’s history with initial economic losses expected to top US$10 billion, according to Gallagher Re. Further, insured losses are expected to run into the billions of …
Chinese Online Insurer Shouhui Weighs Hong Kong IPO in 2024
Insurance Journal | October 30, 2023
Chinese Online Insurer Shouhui Weighs Hong Kong IPO in 2024
Shenzhen Shouhui Technology Group Ltd., a Chinese online insurance platform, is considering an initial public offering in Hong Kong as soon as next year, according to people familiar with the matter. China International Capital Corp. and Huatai Securities Co. are …
Boeing Assessing Lockbit Hacking Gang Threat of Sensitive Data Leak
Insurance Journal | October 30, 2023
Boeing Assessing Lockbit Hacking Gang Threat of Sensitive Data Leak
Boeing Co said on Oct. 27 that it was assessing a claim made by the Lockbit cybercrime gang that it had “a tremendous amount” of sensitive data stolen from the aerospace giant that it would dump online if Boeing didn’t …