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When it comes to making and selling products, businesses face a real risk: if something goes wrong, they can be held responsible. But there’s a rule called strict product liability that goes even further. It means a company can be blamed for a defective product even if they did everything right during production. Rachel Pinsonneault, … Read more

Federal investigators have launched a wide-ranging review of nearly 2.9 million Tesla vehicles equipped with the company’s Full Self-Driving (FSD) software. This move comes after several reports that the software caused cars to run red lights, veer into oncoming lanes, and crash. The National Highway Traffic Safety Administration (NHTSA) said it is looking into 58 … Read more

Neptune Insurance Holdings recently found itself in the spotlight after its CEO, Trevor Burgess, spoke candidly on a Wall Street TV program about a rare market shift. The National Flood Insurance Program (NFIP), which covers over 90% of flood insurance in the U.S., has stopped issuing new policies and renewing existing ones after its authorization … Read more

Federal prosecutors have accused a 29-year-old man from Florida of starting the devastating Palisades Fire that destroyed neighborhoods in Pacific Palisades and Malibu. The fire wiped out thousands of homes and caused billions in insurance claims. Jonathan Rinderknecht, who worked as an Uber driver and lived in Los Angeles when the fire began, was arrested … Read more

Aon and AXA XL have announced several important leadership changes that are set to strengthen their teams and boost their business efforts in key regions. At Aon, the focus is on expanding their Commercial Risk team across Europe, the Middle East, and Africa (EMEA). Paul Young has taken on the role of Specialty Leader for … Read more

Neptune Flood, a flood insurance company based in St. Petersburg, Florida, has expanded its reach to all 50 states after securing over $400 million in premium capacity. This is a big step up from last year’s $300 million and highlights the company’s fast growth in the private flood insurance market. The company’s growth is backed … Read more

Johnny Ray Jackson, a former insurance agent from Gallatin, Tennessee, has been sentenced to 10 years in prison for illegally selling insurance products. Although most of the prison time was suspended by the judge, Jackson will still serve a portion behind bars. Jackson, 55, lost his insurance license back in 1999 but continued to operate … Read more

Technology is changing the way construction projects are run, promising faster work and fewer mistakes. But experts warn that rushing into new tools without careful planning can cause big problems. John Carroll, a commercial lines staff underwriter at Central Insurance, says many construction companies make common mistakes when using technology that can lead to delays … Read more

A major fire at a key aluminum plant in upstate New York has dealt a significant blow to Ford Motor Company, with potential losses reaching up to $1 billion. The blaze, which started on September 16 at Novelis’s Oswego facility, has shut down a large part of the plant. This site is a crucial supplier … Read more

The Internal Revenue Service has furloughed almost half of its workforce as the federal government shutdown stretches into its second week. This closure is affecting many IRS operations and could cause delays for the insurance and financial industries that rely heavily on the agency’s services. About 34,000 of the IRS’s 74,000 employees have been placed … Read more