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Category: Insurance Journal

Nirvana Raises $80M for AI-Driven Fleet Insurance; Carrier-Agency Connector CoverForce Secures $13M
Insurance Journal | March 10, 2025
Nirvana Raises $80M for AI-Driven Fleet Insurance; Carrier-Agency Connector CoverForce Secures $13M
Nirvana Insurance Secures $80M for Trucking Insurance AI Nirvana Insurance, an AI-driven commercial trucking insurer, announced an $80 million Series C funding round, valuing the company at nearly $850 million. The round was led by General Catalyst with continued support …
Pilot Error Likely Caused Small Plane Crash That Killed Family in Tennessee
Insurance Journal | March 10, 2025
Pilot Error Likely Caused Small Plane Crash That Killed Family in Tennessee
NASHVILLE, Tenn. (AP) — A fiery small plane crash in Tennessee last year that killed a Canadian family of five was most likely the result of an error by the father, who was piloting the plane, according to a National …
Supreme Court Nixes Challenge to State Climate Suits Against Oil Firms
Insurance Journal | March 10, 2025
Supreme Court Nixes Challenge to State Climate Suits Against Oil Firms
Adds background on case in paragraphs 3-13 By Nate Raymond March 10 (Reuters) – The U.S. Supreme Court rejected on Monday a bid by 19 Republican-led states led by Alabama to block five Democratic-led states from pursuing lawsuits accusing major …
France Warns of Soaring Insurance Costs From Climate Change
Insurance Journal | March 10, 2025
France Warns of Soaring Insurance Costs From Climate Change
French households, businesses and local authorities will face soaring costs for insurance if the country fails to adapt to a changing climate, the government said Monday. The cost of climate disasters may double in the 30 years through 2050, reaching …
Bayer Threatens to Stop Roundup Weedkiller Sales in US Over Litigation Costs
Insurance Journal | March 10, 2025
Bayer Threatens to Stop Roundup Weedkiller Sales in US Over Litigation Costs
Bayer has told U.S. lawmakers it could stop selling Roundup weedkiller unless they can strengthen legal protection against product liability litigation, according to a financial analyst and a person close to the matter. Bayer has paid about $10 billion to …
Arthur J. Gallagher & Co. Acquires Philippines-Based Re/Insurance Broker Philinsure
Insurance Journal | March 10, 2025
Arthur J. Gallagher & Co. Acquires Philippines-Based Re/Insurance Broker Philinsure
Arthur J. Gallagher & Co. announced it has acquired the remaining shares of Philippines-based Philpacific Insurance Brokers & Managers Inc., dba Philinsure, following a minority investment in the business. Terms of the transaction were not disclosed. Philinsure is a commercial …
Medical Plane’s Voice Recorder Likely Not Working for Years Before Crash
Insurance Journal | March 10, 2025
Medical Plane’s Voice Recorder Likely Not Working for Years Before Crash
The cockpit voice recorder was not working on a medical transport plane that killed seven people when it plummeted into a Philadelphia neighborhood in January and likely had not been functioning for several years, the National Transportation Safety Board said …
Brazil Insurer Caixa Seguridade Files for Secondary Share Offering
Insurance Journal | March 10, 2025
Brazil Insurer Caixa Seguridade Files for Secondary Share Offering
Brazilian state-run insurance firm Caixa Seguridade said late on Sunday it had filed for a follow-on share offering that will comprise a secondary sale of stock owned by controller Caixa Economica Federal. The move was widely expected since the company …
Citi Fined by Swiss Exchange Regulator Over 2022 Fat-Finger Flash Crash
Insurance Journal | March 10, 2025
Citi Fined by Swiss Exchange Regulator Over 2022 Fat-Finger Flash Crash
Citigroup Inc. was fined 500,000 Swiss francs ($568,000) by Switzerland’s stock exchange regulator for failures after a London staffer’s fat-finger trade caused a flash crash in European stocks in 2022. The total value of the erroneous trades executed on the …
Regulators Ask Gallagher for More Information on $13.4 Billion AssuredPartners Acquisition
Insurance Journal | March 10, 2025
Regulators Ask Gallagher for More Information on $13.4 Billion AssuredPartners Acquisition
Arthur J. Gallagher & Co. reported that it has received a second request for information from federal officials relating to its proposed $13.45 billion acquisition of AssuredPartners, Inc. Gallagher said it is actively responding to the request and expects that …