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U.S. Proposes 56% Vehicle Emissions Cut by 2032, Requiring Big EV Jump

The U.S. Environmental Protection Agency (EPA) on Wednesday proposed sweeping emissions cuts for new cars and trucks through 2032, a move it says could mean two out of every three new vehicles automakers sell will be electric within a decade. …

Man Admits Role in Catalytic Converter Theft Ring in Connecticut

An East Hartford man has pleaded guilty to participating in a stolen catalytic converter trafficking ring. Bryant Bermudez pleaded guilty to one count of conspiracy to commit interstate transportation of stolen property and three counts of interstate transportation of stolen …

How Insurers Can Harness the Power of AI

There is a lot of talk about the insurance industry being slower to adopt new technologies, such as artificial intelligence, but Counterpart CEO Tanner Hackett and Socotra CEO Dan Woods both agreed on the latest episode of The Insuring Cyber …

Russia’s Largest Cargo Airline Ordered to Pay Aircraft Lessor BOC Aviation $406.2M

/A U.S. judge on Tuesday ordered Russia’s largest cargo airline to pay aircraft lessor BOC Aviation Ltd. $406.2 million after being declared in default on leases for three Boeing 747-8 freighters following Russia’s invasion of Ukraine. U.S. District Judge Lewis …

French Building Collapse Kills at Least 6; Gas Explosion Suspected

French investigators are treating the deaths of at least six people who were killed when a building collapsed in the city of Marseille as a possible “involuntary homicide” case, a prosecutor said Tuesday. Prosecutor Dominique Laurens said an investigation was …

NFP Acquires UK Broker Gravity Risk Services

NFP, a New York City-based property/casualty broker, announced it has acquired Gravity Risk Services Ltd., an insurance broker based in the West Midlands, England. Financial terms of the deal were not disclosed. NFP will integrate Gravity’s risk services into its …

German Superyacht Maker Lürssen Hit by Ransomware Cyber Attack

German shipbuilder Lürssen, which makes military vessels as well as luxury yachts, has become the target of a ransomware cyberattack. The Bremen-based company was attacked over the Easter holiday period, company spokesman Oliver Grün said Tuesday. “In coordination with internal …

People Moves: Strong Named N2G CEO; Butera to Head Swiss Re FinPro Lines, Casualty North America; Ascot Hires Totolos as Captive Solutions Leader

Strong Named New N2G CEO N2G Worldwide Insurance Services, LLC has named Kevin M. Strong its new chief executive officer. Strong replaces retiring N2G CEO Bill Skapof, who has led the company since 2020. Strong has more than 20 years …

J&J Talc Unit Defends Latest Bankruptcy Settlement Bid

A Johnson & Johnson company on Tuesday defended its second attempt to resolve talc lawsuits in bankruptcy, telling a U.S. judge it can quickly build consensus around its $8.9 billion settlement offer despite doubts about its assertion that 60,000 plaintiffs …

Kin Spins Into Tornado-Prone Mississippi, Relying on Data for Risk Pricing

Kin Insurance and its reciprocal exchange program have expanded into Mississippi, just as tornado damage may be worsening in the state. Mississippi saw 184 tornadoes in 2022, ranking it first in the nation for tornado activity and up sharply from …

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