Monthly Archives: <span>May 2024</span>

Gallagher Updates Regulation for Artificial Intelligence

Gallagher’s Cyber practice remains laser focused on emerging technology and the potential for increased risks as organizations begin to use them. Throughout 2024, we’re concentrated on evolving compliance requirements for the use of artificial intelligence (AI). Recent AI-specific regulatory proposals …

China Boosts Farmer Protection With Nationwide Insurance for Major Grains

China’s Finance Ministry on Tuesday announced the nationwide implementation of full-cost insurance and planting income insurance policies for rice, wheat and corn, as part of a food security drive to encourage planting of staple grains. The policy is aimed at …

Oil Shipments at Risk From Rising Sea Levels, Think Tank Warns

Rising sea levels could severely disrupt crude oil shipments and erode energy security in import-dependent countries like China, South Korea and Japan, with many of the world’s biggest terminals vulnerable to flooding, researchers said on Tuesday. Melting ice and swelling …

US Regulator to Issue Carbon-Credits Rulebook Within Months

The US Commodity Futures Trading Commission expects to finalize its guidance for carbon credits within the next six months, as it pursues a broader crackdown of fraud and manipulation in the embattled market. CFTC Commissioner Christy Goldsmith Romero said she …

S&P: 2023 Marked Stall of Rapid Growth in US Cyber Insurance

S&P Global Market Intelligence weighed in on the U.S. cyber insurance marketplace, reporting that premium dipped in 2023 to end several years of rapid growth. The overall 0.7% decline in cyber insurance direct written premiums was driven by a 3.2% …

NC Captive Feud: Sherbrooke Says Managers Took Funds, Stole Risk-Gauging Software

North Carolina regulators last month announced that the state is now the third-largest domicile for captive insurance companies with more than 311 captive firms in the state, thanks in part to favorable premium tax rates, fees and capital requirements. But …

Ship That Caused Deadly Baltimore Bridge Collapse Refloated, Escorted Back to Port

The recovery from the deadly Baltimore bridge collapse reached a significant milestone Monday as tugboats escorted the ill-fated container ship Dali back to port, its damaged bow still covered with smashed shipping containers, fallen steel trusses and mangled concrete. Nearly …

Teen Who Ate Spicy Tortilla Chip Died of High Chile Consumption; Also Had Heart Defect

A Massachusetts teen who participated in a spicy tortilla chip challenge on social media died from eating a large quantity of chile pepper extract and also had a congenital heart defect, according to autopsy results obtained by The Associated Press. …

US Regulator Launches Probe of VinFast Crash in California in Which Four Died

U.S. auto safety investigators said on Monday they have launched an investigation into the April crash of a VinFast 0TL.F, VFS.O VF 8 electric vehicle in Pleasanton, California, in which a family of four died. The National Highway Traffic Safety …

These Texans Aren’t Taking Buyouts Despite Repeated Floods

HARRIS COUNTY — After the floodwaters earlier this month just about swallowed two of the six homes that 60-year-old Tom Madigan owns on the San Jacinto River, he didn’t think twice about whether to fix them. He hired people to …