Nearly three-quarters of clinicians said losing critical thinking or decision-making skills will be one of the greatest risks of adopting artificial intelligence, according to a survey by Wolters Kluwer Health.
Author: Awais
A recent series of stress tests conducted by S&P Global Ratings on a number of different insurers and reinsurers, to see how they would withstand a 1-in-250-year catastrophe event has showcased the importance that both reinsurance and retrocession bring towards managing catastrophe risks.“The insurance industry faces an escalating threat from extreme weather. Hurricane Ian in 2022, for example, caused about US$60 billion in damage, and last year’s California wildfires resulted in more than US$40 billion in claims. Such incidents are pushing insurers–and reinsurers–to reassess their risk exposure,” S&P said in a new report. “Insured losses globally exceeded US$100 billion in…
Holmes Murphy announced that Chaz Cointment has joined the brokerage as a Sr. Client Executive, Surety. In this role, Cointment will be responsible for the development and management of client surety programs. His key focus will be to enhance and optimize Holmes Murphy’s existing surety programs, ensuring they remain scalable, competitive, and aligned with the long-term business objectives of the firm’s clients. Cointment will also play an integral role in expanding Holmes Murphy’s surety presence in the Dallas market, helping to grow its construction practice and strengthen relationships across the region. Cointment has more than 18 years of experience in…
STATUTORYHelms Amendment (1973)Prohibits the use of foreign assistance to pay for the performance of abortion as a method of family planning or to motivate or coerce any person to practice abortion. Note: meaning of “motivate” clarified by Leahy Amendment (1994); see below.AbortionAll foreign assistance authorized under the Foreign Assistance Act of 1961(FAA); all funds under State-Foreign Operations Appropriations (State-Foreign Ops.)Yes, in effect.Permanent law, amendment to the FAA.Also included in annual State-Foreign Ops.Involuntary Sterilization Amendment (1978)Prohibits the use of funds to pay for involuntary sterilizations as a method of family planning or to coerce or provide a financial incentive to anyone…
This edition of International People Moves details appointments at Markel International and Gallagher Re. A summary of these new hires follows here. Markel Int’l Promotes McCarthy as MD of Marine, Energy and Construction Division in London Markel Insurance, the insurance operation within Markel Group Inc., announced the appointment of Dan McCarthy as managing director of its newly structured Marine, Energy and Construction division in its London market business. The appointment forms part of Markel International’s continued evolution of its London market business, creating a clearer, more scalable marine, energy and construction structure that supports sustainable growth and makes it easier…
A worker who suffered serious injuries in 2017 after a 1,300-pound load of lighting fixtures fell onto him has lost the $41.9 million he was awarded by a jury in October 2022. The Connecticut Appellate Court this week overturned the multimillion judgment against industrial lighting company Signify North America Corp. of Mountain Top, Pennsylvania. In its opinion dated June 2, the appeals court ruled that the trial court judge and jury wrongly concluded that Signify should have foreseen the injuries that rendered Juan Cruz a paraplegic as a result of its failure to adequately secure the lights to a pallet…
Anthropic PBC is allowing 150 additional organizations around the world to access Mythos, an artificial intelligence model aimed at finding cybersecurity vulnerabilities that the company has said was too dangerous to make available to the general public. Anthropic plans to announce the increased number of users Tuesday, bringing the total groups with access to about 200. The new organizations are based in 15 countries and span industries such as power, healthcare and communications, the company said. Though Anthropic declined to name the additional participants, it said the group includes companies and nonprofits that produce key programming code for broader use.…
An Albanian man’s pain grew so unbearable, he said, he pulled out his own tooth as he languished for months in a New Mexico immigration detention center. A Honduran mother of two said she was hospitalized for a heart problem after she was denied blood pressure medications while held in Florida. A Venezuelan man said his leg grew purple and swollen from flesh-eating bacteria when staffers at a Vermont facility did not bring him to a scheduled doctor appointment. Hundreds of detainees across at least 33 states allege in federal suits that immigration detention facilities are failing to provide adequate…
A corrections officer at New York City’s Rikers Island prison has pleaded guilty to receiving more than $200,000 in workers’ compensation benefits to which he was not entitled, prosecutors reported. According to Jay Clayton, U.S. Attorney for the Southern District of New York, Jovanny Concepcion pled guilty on June 1 to making false statements to obtain benefits. “As he has now admitted, Jovanny Concepcion fraudulently received hundreds of thousands of dollars from New York City taxpayers by falsely claiming injuries following incidents where force was used against an incarcerated person,” said Clayton. The New York State Workers’ Compensation Board administers…
California Attorney General Rob Bonta filed a lawsuit against the DNA company formerly known as 23andMe for failing to protect consumer data. Bonta sued Chrome Holding Co., formerly known as 23andMe, for failing to protect its customers’ personal information and genetic data related to health, genetic predispositions and risk factors, biological relatives, ancestry and ethnicity. The suit stems from a 2023 data breach that affected nearly 7 million 23andMe users across the U.S., including 855,541 California residents. Related: California Fails to Stop 23andMe Founder From Re-Acquiring Company Bonta’s office says the company failed to take reasonable measures to protect its…
Axis Capital Holdings Limited, headquartered in Pembroke, Bermuda, appointed Austin Su as head of alternative risk, North America. Su will lead the development and execution of Axis’s alternative risk and structured casualty strategy, focusing on building and scaling the company’s alternative risk transfer (ART) platform, delivering innovative solutions for complex customer needs, and advancing Axis’s capabilities in this growing segment of the market. Su joins Axis with more than 25 years of experience in the global insurance industry, most recently serving as head of structured risk solutions, Americas at AXA XL. Prior to that, he held senior leadership roles at…
With Mangrove Property Insurance recently securing its debut catastrophe bond transaction, the $111 million Buttonwood Re Ltd. (Series 2026-1) issuance, Stephen Weinstein, Chief Executive Officer and Founder of the firm has highlighted how the inaugural catastrophe bond represents “an important milestone” for the company.As we’ve been reporting, Mangrove Property Insurance entered the catastrophe bond market for the first time in April, to sponsor its first cat bond transaction. Initially, we first reported on April 24th that the insurer was targeting $100 million of named storm reinsurance protection with its debut cat bond. Mangrove then raised the target size for this…
Despite the current ceasefire between the United States and Iran, it remains too risky to move the thousands of sailors stuck in the Gulf, the head of the U.N.’s shipping agency said. “We will not be able to activate anything until the root causes are addressed and there is more of a final agreement, a ceasefire, or complete agreement, between the parties involved in the conflict,” Arsenio Dominguez, secretary-general of the International Maritime Organization, told Reuters on Sunday ahead of the start of the Posidonia shipping industry week in Athens. There are an estimated 20,000 seafarers aboard vessels stuck in…
Transcript AI Usage Disclosure: This transcript was created with assistance from AI tools. It was reviewed and edited by KFF Staff. Chip Kahn: Now we move from the health system actually deploying AI inside its hospitals to the health care company doing it across the full stack. One organization bearing the financial risk for care, delivering that care, building the AI that informs coverage decisions, and running the analytics that tie it all together. My guest today is Dr. Patrick Conway, CEO of Optum. No one else in American health care has occupied all four of Patrick’s positions. Regulator at CMS; payer at Blue…