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State Farm Wins Dismissal of Homeowners’ Class Action Over Use of Xactimate Software
A federal judge has dismissed a proposed class action filed on behalf of Pennsylvania homeowners who believe that State Farm undervalued their property damage claims in its use of the Xactimate software that is popular with insurers. The lead plaintiffs, …
POSTED MARCH 27, 2025 1:34 PM |
Miami Insurance Broker Sentenced to 3.5 Years in Condo Premium Finance Scheme
A federal judge on Wednesday sentenced a Miami insurance broker to 41 months in prison and more than $5 million in restitution for defrauding a Georgia credit union by obtaining loans for condominium associations’ premium financing, then using the loans …
POSTED MARCH 27, 2025 1:11 PM |
Hannover Re Renews Cloud Outage Catastrophe Bond, Structured by Parametrix
Hannover Re has renewed a cyber catastrophe bond that provides $20 million worth of retrocessional protection against the accumulation of losses caused by a sustained cloud-outage event during 2025-2026. Cumulus Re II is 45% larger than the first iteration of …
POSTED MARCH 27, 2025 12:56 PM |
FAA Must Do Better After Midair Collision, Acting Chief Says
The US Federal Aviation Administration said it must improve the way it identifies potentially risky air-traffic situations, following a deadly midair collision between a US Army helicopter and American Airlines Group Inc. regional jet in January. “While flying remains the …
POSTED MARCH 27, 2025 12:47 PM |
AI Company Anthropic Wins Early Round in Music Publishers’ Copyright Case
Artificial intelligence company Anthropic convinced a California federal judge on Tuesday to reject a preliminary bid to block it from using lyrics owned by Universal Music Group and other music publishers to train its AI-powered chatbot Claude. U.S. District Judge …
POSTED MARCH 27, 2025 12:27 PM |
ING Becomes First Globally Important Bank to Meet Climate Watchdog Standards
ING has become the first systemically important global bank to have its climate goals validated as being in line with efforts to limit global warming to 1.5 degrees Celsius, the body responsible for awarding the standard said on Wednesday. The …
POSTED MARCH 27, 2025 11:54 AM |
Western Officials Say Russia Is Behind Campaign of Sabotage Across Europe
Western officials have accused Russia and its proxies of staging dozens of attacks and other incidents across Europe since the invasion of Ukraine three years ago, according to data collected by The Associated Press. They allege the disruption campaign is …
POSTED MARCH 27, 2025 10:30 AM |
Markets/Coverages: Westfield Adds Inland Flood Option; Rokstone Launches Farm & Ranch in 14 States
Westfield Expands Flood Protection Options for Homeowners Property/casualty insurer Westfield is expanding its protection options for U.S. homeowners by offering an inland flood coverage add-on designed to help reduce the insurance gap for those living outside historical high-risk flood zones. …
POSTED MARCH 27, 2025 6:31 AM |
Cyber Security Threat Detected at Kuala Lumpur International Airport: Malaysia Airports
A cyber security threat affecting computer systems at the Kuala Lumpur International Airport was detected on Sunday, the National Cyber Security Agency and Malaysia Airports said in a joint statement. The operations at KLIA were not impacted and authorities are …
POSTED MARCH 27, 2025 6:00 AM |
Unusually Active Hurricane Season in Store for the Atlantic: AccuWeather
Another above-average hurricane season will threaten the Atlantic this year, with as many as six storms affecting the US, AccuWeather Inc. said. Between 13 and 18 storms will at least reach tropical storm strength, and seven to 10 of those …
POSTED MARCH 27, 2025 5:29 AM |
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