Catastrophe modeling firm, Karen Clark & Co. (KCC), says insured losses from Tropical Storm/Hurricane Barry and its remnants will near $300 million. That figure does not include National Flood Insurance Program (NFIP) losses. KCC based the estimate on its high …
U.S. senators used a Congressional hearing on Tuesday to push the idea of overhauling a law that protects YouTube, Facebook and other internet services from being sued for the content users post. The Senate Judiciary subcommittee hearing, led by Senator …
I’ve seen this story before. Having worked in fintech since 2005, I witnessed the fintech wave forming, cresting, and eventually crashing into the financial ecosystem. If there is a fraternal twin to banking, it’s the insurance industry. Both industries are …
An India-based company that sells numerous drugs in the U.S., including ibuprofen, was caught attempting to dispose of quality-control records, calling into question the safety of its medicines. U.S. Food and Drug Administration inspectors said they found what appeared to …
Insurers and service companies won a major victory this week against lawyers who were trying to bind a group of 1,550 California property appraisers together to sue Farmers Group and Allstate Insurance Co. for allegedly misclassifying them as independent contractors …
A Florida appellate court ruled that the state’s approach to regulating marijuana is unconstitutional, possibly allowing more providers to jump into a market positioned to become one of the country’s most lucrative. If the ruling stands, it could force state …
It started with a broken cable. Sometime before 6:47 p.m. on Saturday, a 13,000-volt underground power line at New York City’s West 64th Street and West End Avenue burned, according to Consolidated Edison Inc. One spokesman for the utility said …
NAIROBI — Before flying to Washington to climb the steps of Congress and testify to a crowd of aviation experts and lawmakers this week, Paul Njoroge spent a desolate weekend packing away toys his children would never play with again. …
The company that brought you free digital maps and email wants to do the same thing for your drone. Wing LLC, an offshoot of Alphabet Inc.’s Google, on Tuesday unveiled a new app it calls OpenSky that it hopes will …
The extended grounding of Boeing Co.’s 737 Max plane forced Ryanair Holdings Plc to scale back growth plans for next summer, putting the airline industry on notice the crisis is starting to affect longer-term plans. With a return date for …