The case traces back to a December 16, 2021, motor-vehicle accident in which Ashley (Thomas) Perry, insured by USAA with $50,000 per-person liability coverage, was involved in a collision that killed DeAndre Anthony Logan. On September 26, 2023, Emely Gomez, acting as next friend of Logan’s minor daughter, sent a demand to USAA for Perry’s full per-person policy limit.
Author: Awais
Insureds cannot rely on the word of an insurance adjuster—even one hired by the insurer—to show that a homeowners’ policy covers sewage backup, a federal appeals court said in a case that underscored the sanctity of policy exclusions but also raised questions. “While we respect the unfortunate nature of events presented in this case, we may not allow (the adjuster’s) statements — while confusing and frustrating for the Coopers — [to] create coverage where none exists,” the U.S. 5th Circuit Court of Appeals wrote in Cooper vs. State Farm Fire & Casualty. The scenario could scarcely have been more disgusting…
A UK litigation funder is seeking fresh capital less than six months after it liquidated a key fund, the latest twist for a firm that’s navigated a bumpy year. Katch Investment Group is raising new money for its open-ended Katch Legal Lending Fund, targeting a 20% annual return, according to a pitch deck seen by Bloomberg News. The fund’s proceeds will be used to finance litigation including a £250 million ($341 million) lawsuit against Uber Technologies Inc. on behalf of thousands of London’s black-cab drivers. In the growing market of litigation funding, investors pay the legal costs of a lawsuit…
Listen in as “Life Kit” host Marielle Segarra and health reporter Sarah Boden untangle the red tape that can make the prior authorization process frustrating. When the doctor says you need a prescription or treatment, sometimes you need approval from your health insurance first. That’s called prior authorization. Without that sign-off, insurance won’t pay. What triggers the need for prior authorization is not fully clear. It’s another “black box” part of the health care system. You might think insurance companies mostly target expensive treatments or care approaches when a disagreement over effectiveness prompts a prior authorization review. Often that’s not…
A growing procession of tech industry leaders including Elon Musk and Tim Cook are warning about a global crisis in the making: A shortage of memory chips is beginning to hammer profits, derail corporate plans and inflate price tags on everything from laptops and smartphones to automobiles and data centers — and the crunch is only going to get worse. Since the start of 2026, Tesla Inc., Apple Inc. and a dozen other major corporations have signaled that the shortage of DRAM, or dynamic random access memory — the fundamental building block of almost all technology — will constrain production.…
While 2025 was a quieter year for the cyber insurance-linked securities (ILS) space, S&P Global Ratings emphasised that the market still remains an effective alternative capital solution that offers insurers an effective way to transfer large-scale, systemic cyber risk to the capital markets.In a recent report published by the rating agency, analysts acknowledge that ILS issuance for cyber had remained relatively subdued in 2025. “Three public cyber catastrophe bonds have been issued this year, consisting of renewals by Hannover Re, Beazley, and Chubb, with no new sponsor coming to the market. Earlier sponsors, such as Axis Capital and Swiss Re,…
The Paris public prosecutor has opened five investigations into baby milk brands distributed by Nestle, Lactalis, Danone, Babybio and La Marque en moins after contamination with toxin cereulide, it said on Friday [Feb. 13]. Cereulide, which can cause nausea and vomiting, has been detected in ingredients from a supplier in China for several infant formula makers, including Nestle, Danone and Lactalis, triggering precautionay recalls in dozens of countries, including France, and raising concerns among parents. “The Paris prosecutor’s office decided to take up the case due to the large number of complaints filed nationwide and the technical nature of the…
Artificial intelligence is becoming a core competency for insurers that want to stay competitive in the face of geopolitical volatility, shifting claims patterns, persistent cost pressures and rising customer expectations. But to unlock AI’s full potential, carriers need to first navigate shifting workforce dynamics, modernize outdated legacy systems and overcome their tech-scoping problem, said panelists during a recent webinar from Federato. Unlike other technology trends like cloud or mobile that really only transform one area, AI is “about fundamentally rethinking business models and creating new opportunities, and it affects everything across the value chain,” said Mark Breading, partner at ReSource…
Through the first 10 months of 2025, the value of construction put in place totaled $1.825 trillion, down from $1.851 trillion in the same period of 2024. Residential construction accounted for $779 billion, compared with $798 billion a year earlier, while nonresidential spending was $1.046 trillion, down from $1.054 trillion. Dodge Construction Network is forecasting total construction starts to decline by about 0.4% in 2026.
A jury in Pennsylvania state court on Friday awarded $250,000 to the family of a woman who sued Johnson & Johnson alleging its talc-based baby powder was to blame for her ovarian cancer. The jury in the Philadelphia Court of Common Pleas sided with family members of Gayle Emerson, who claimed that Johnson & Johnson knew for years its talc-based products were dangerous but failed to warn consumers. Jurors awarded Emerson’s family $50,000 in compensatory damages and $200,000 in punitive damages. In a statement, Erik Haas, J&J’s worldwide vice president of litigation, said the company plans to appeal. “This token…
Rhode Island-based Beacon Mutual Insurance Co. reported that President and Chief Executive Officer Brian J. Spero will retire effective March 31, 2027, after more than 18 years of service to the company. Amy C. Vitale, Esq., executive vice president and chief legal officer, will be promoted to president effective April 1, 2026, according to the announcement. Spero will continue serving as CEO during a one-year transition period to provide for a smooth transition of president and CEO responsibilities to Vitale on April 1, 2027. Spero joined Beacon in 2008 and assumed the role of president and CEO in 2017. rior…
Britain could bring in an Australian-style ban on social media for children under 16 as early as this year and close a loophole that left some AI chatbots outside safety rules, as part of government efforts to respond more quickly to digital risks. Prime Minister Keir Starmer’s government last month launched a consultation on a social media ban for children under 16 and is now working to change legislation so it could bring in any changes within months of the consultation concluding. Spain, Greece and Slovenia have also said they are working on bans after Australia became the first country…
Here are the ten most popular news articles, week ending February 15th 2026, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.Ten most read articles on Artemis.bm, week ending February 15th 2026: Discipline, education, transparency, trust all key as ILS continues to grow & evolve: ILS NYC 2026As the catastrophe bond and insurance-linked securities market looks to build on its recent strong performance and capitalise on opportunities that are being presented, the need…
Oregon DFR further states the Ninth Circuit issued a ruling effective October 31, 2025 overturning that decision, requiring the department to “resume collection of mandatory price increase reports from manufacturers.” The bulletin is directed to all manufacturers of prescription drugs subject to the Oregon program. For insurance industry professionals in Oregon – including insurers, brokers, MGAs, underwriters, and compliance teams – the only implication explicitly set out is Oregon DFR’s statement that it is resuming collection of mandatory manufacturer price increase reports, with Bulletin DFR 2024-3 no longer in effect.