Amazon.com’s drone unit Prime Air is withdrawing from the Commercial Drone Alliance, taking issue with the industry trade group’s opposition to a regulatory proposal for detect-and-avoid systems to prevent drone collisions with crewed aircraft. In a previously unreported letter seen …
Amazon Unit Withdraws From Drone Trade Group, Raises Safety Concerns Read More »
Pro-Iranian hackers are targeting sites in the Middle East and starting to stretch into the United States during the war, raising the risk of American defense contractors, power stations and water plants being swept into a wave of digital chaos …
Iran-Linked Hackers Take Aim at US, Other Targets, Raising Risk of Cyberattacks Read More »
HW Kaufman Group Names Hattaway President of RB Jones RB Jones, a managing general underwriter providing specialty risk coverage solutions for brokers, agents and wholesalers, named Michael Hattaway as president. He will be based in New York City and report …
Investment in AI infrastructure via off-balance sheet debt is increasing the exposure of insurers and private credit funds to hyperscalers, according to officials at the Bank for International Settlements. “Alongside traditional bonds, hyperscalers have turned to off‑balance sheet arrangements to …
AI Hyperscalers’ Shadow Borrowing Bolsters Private Credit Risks Read More »
Amid the last-minute scramble to move legislation before the non-budgetary session was set to end last week, Florida lawmakers quietly approved a bill that could open up more contaminated “brownfield” areas in south Florida to housing development. But the bill, …
Florida Brownfield Development Bill Raising Concerns About Coverage, Litigation Read More »
AM Best reports it has revised the outlooks to stable from negative and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of Amica Mutual Insurance Co. and its …
AM Best Revises Outlooks to Stable for Amica Group Read More »
The city of New Haven’s insurance company is insisting that the city pay back the $3.55 million the insurer paid to settle claims over a 2019 rooming house fire in which two people were killed. Pennsylvania Manufacturers Association Insurance Co. …
Insurer Wants Its $3.5M Back Because City Delayed Reporting Claims for 5 Years Read More »
After years of litigation, PDX North, Inc., a last-mile automotive parts distribution company, has agreed to pay up to $7 million to resolve worker misclassification violations involving its delivery drivers, announced New Jersey officials. The settlement brings to a close …
New Jersey Secures Win in Long-Running Case Over PDX’s Worker Misclassification Read More »
Owners of one of the biggest towing businesses in Southern California were arrested on multiple counts of felony insurance fraud. Bothers Mark Hassan and Ahmed Hassan were charged with underreporting employee payroll and paying parts of employees’ wages in cash …
Owners of Large California Tow Operation Charged in $6M Workers’ Comp Fraud Scheme Read More »
Bank of America Corp. has agreed to settle a proposed class action lawsuit on behalf of Jeffrey Epstein victims who accused the bank of aiding in the deceased financier’s sex-trafficking, according to a court record. The agreement in principle was …
Bank of America Agrees to Settle Claims It Aided Epstein Read More »
