Ex-CEO, Ex-CFO of Bankrupt AI Company Charged With Fraud
The former chief executive and chief financial officer of iLearningEngines, which provided AI-driven business automation technology, were indicted on charges they defrauded investors and lenders by fabricating “virtually all” of the now-bankrupt company’s customer relationships and revenue. Former CEO Puthugramam …
POSTED APRIL 20, 2026 5:29 AM |
Pemex Undersea Pipeline Found to Cause Gulf Oil Spill
An oil spill in the Gulf of Mexico that soiled beaches, killed wildlife and sparked outrage from environmental groups was caused by a leaky pipeline owned by state oil company Petroleos Mexicanos, the company said. A government investigation determined that …
POSTED APRIL 20, 2026 5:14 AM |
SEC’s Power to Recoup Illicit Profits Challenged at Supreme Court
Three times over the past decade, the US Supreme Court has cut the Securities and Exchange Commission’s ability to extract millions of dollars from alleged wrongdoers. Critics of the commission say it’s not enough. In arguments Monday they are asking …
POSTED APRIL 20, 2026 5:11 AM |
AI for the Defense: Should Insurers or Law Firms Pay?
The idea that AI tools can help plaintiffs’ lawyers to improve finely tuned litigation strategies that ultimately drive insurance company claims payouts is not new to Carrier Management readers. Nor is the suggestion that defense firms need to try to …
POSTED APRIL 20, 2026 5:05 AM |
Florida Needs More, Much More Wind Mitigation. Experts at OIR Summit Give Ideas
Florida has the largest wind-mitigation grant program in the country, providing more than $300 million to homeowners over the last few years and resulting in insurance premium discounts for thousands of people. But it’s not enough. The program is not …
POSTED APRIL 20, 2026 5:01 AM |
People Moves: Crest Names Solis Commercial Insurance Broker in Tempe; Storie Joins Alliant’s Pacific Northwest Benefits Team
Crest Appoints Solis as Commercial Insurance Broker in Tempe Crest Insurance Group hired Jesus Solis as a commercial insurance broker in the firm’s Tempe, Arizona, office. An Arizona native, Solis joins the team with a focus on providing comprehensive risk …
POSTED APRIL 20, 2026 5:00 AM |
Inszone Acquires Randall Realty and Insurance in Arizona
Inszone Insurance Services acquired Tucson, Arizona-based Benchmark Insurance Group LLC, doing business as Randall Realty & Insurance. Founded in 1973 by Larry Randall, the agency was later acquired by Frank Fletcher. The firm specializes in mobile and manufactured home insurance, …
POSTED APRIL 20, 2026 5:00 AM |
Man With AR-Style Pistol Arrested at Aetna Headquarters Without incident
A man carrying a backpack with an AR-style pistol inside was arrested Thursday after walking into health insurer Aetna’s headquarters in Connecticut, police said. Security guards detained the man without incident shortly after 10 a.m., within 3 minutes after he …
POSTED APRIL 20, 2026 5:00 AM |
Judge Blocks GE Vernova From Ending Work for Vineyard Wind
A Massachusetts judge on Friday blocked GE Vernova GEV.N from abandoning work on the largest offshore wind farm in New England after developer Vineyard Wind refused to pay over $300 million the turbine supplier says it is owed for the …
POSTED APRIL 20, 2026 5:00 AM |
India Approves $1.4 Billion Maritime Insurance Pool
India has approved a 129.8-billion-rupee ($1.4 billion) guarantee for a maritime insurance pool, a minister said on Saturday, as wars and sanctions prompt insurers to withdraw cover, threatening trade flows. The pool will run for 10 years and can be …
POSTED APRIL 18, 2026 10:34 AM |
State Farm Agrees to $15M Settlement for Underpaid Vehicle Claims in Arkansas
A federal judge last month approved a preliminary class settlement resolving claims that State Farm underpaid Arkansas policyholders for total loss vehicle claims by applying an erroneous valuation method. Under the settlement agreement, State Farm will pay $15.6 million to …
POSTED APRIL 17, 2026 4:22 PM |
Shipping Firms Seek Clarifications Before Transiting Now-Opened Hormuz
Shipping companies have cautiously welcomed Iran’s announcement that the Strait of Hormuz is open but said they would require clarifications, including about the risk of mines, before vessels move through the entry point to the Gulf. Foreign Minister Abbas Araqchi …
POSTED APRIL 17, 2026 4:05 PM |
Marsh Aims to Be ‘AI Winner’ by Focusing on Gains in Growth, Productivity, Efficiency
Marsh aims to be an “AI winner” through growth, productivity and efficiency gains, according to John Doyle, president and CEO of the broker and risk adviser. “[W]e see AI as a powerful accelerator and enabler in delivering value to our …
POSTED APRIL 17, 2026 3:07 PM |
Pennsylvania Firefighters Back on Job After 6-Day Insurance Lapse
The two volunteer fire departments serving the western Pennsylvania borough of Vandergrift have resumed responding to 911 calls. Mayor Lenny Collini said the firefighters returned to their stations on Thursday after a six day interruption due to a lapse in …
POSTED APRIL 17, 2026 3:00 PM |
NYC Mayor Eyes City-Run Insurance Program for Affordable Housing
New York City Mayor Zohran Kwame Mamdani is seeking to lower the cost of property and liability insurance for affordable and rent-stabilized housing through a new city-run insurance program. Mamdani plans to hire independent actuarial experts to design and launch …
POSTED APRIL 17, 2026 2:56 PM |
People Moves: PIA Arkansas’ Shearon to Retire as Executive Director
The Professional Insurance Agents of Arkansas (PIA Arkansas) announced that Executive Director Staci Shearon will retire effective May 29, 2026, concluding nearly 20 years of leadership and service to the association and the independent insurance community. Shearon informed the PIA …
POSTED APRIL 17, 2026 2:52 PM |
Michigan Updates Air Quality Risk System Ahead of Wildfire Season
After Canadian wildfires brought extremely poor air quality to Detroit in the summers of 2023 and 2025, Michigan is updating how it communicates air quality risks to residents this year. The state is streamlining a system that has evolved with …
POSTED APRIL 17, 2026 2:50 PM |
South Texas Cities Racing to Drill Wells Amid Historic Drought Crisis
As a historic drought in South Texas deepens, parched cities along the coastal bend are following Corpus Christi’s playbook and racing to drill their way out of a crisis. But as more and more cities turn to groundwater instead of …
POSTED APRIL 17, 2026 2:32 PM |
Midwest States Reel from Severe Storms
Floodwaters from record rainfall in Wisconsin inundated streets Wednesday, trapping drivers and forcing officials to close sections of a highway, as other Midwestern states worked to rebuild after storms. Cars were stranded in high floodwater on a highway in Milwaukee …
POSTED APRIL 17, 2026 2:27 PM |
Carnival Cruise Passenger Served 14 Shots Awarded $300,000 After Fall Down Stairs
Carnival Cruise Line should pay $300,000 to a former passenger after a federal jury in South Florida found that the company was negligent in serving the woman more than a dozen shots of tequila before she fell down some stairs …
POSTED APRIL 17, 2026 2:24 PM |
Higginbotham Adds Alabama ‘Powerhouse’ Harmon Dennis Bradshaw Agency
Higginbotham, the Texas-based insurance brokerage ranked as the 12th-largest broker in the country last year, has added Harmon Dennis Bradshaw Inc., an independent agency in Alabama and Georgia, to its growing list of partner agencies. Harmon Dennis, known as HDB, …
POSTED APRIL 17, 2026 2:02 PM |
Travelers Profit Rises on Stronger Underwriting, Lower Catastrophe Losses
Property and casualty insurance giant Travelers reported a jump in first-quarter profit, buoyed by robust underwriting gains and lower catastrophe losses than a year earlier when results were severely hit by the Los Angeles wildfires. Shares of the company, whose …
POSTED APRIL 17, 2026 1:53 PM |
Companies Scramble for Tariff Refunds as US Prepares to Launch Claim Process
Jay Foreman said he’s “locked and loaded” for the U.S. government’s launch on Monday of a new system to refund up to $166 billion in illegally collected tariffs, but he and many other importers are realistic that much could still …
POSTED APRIL 17, 2026 1:33 PM |
Beazley Plans $1B Marine War Consortium for Transiting Strait of Hormuz
Beazley, the specialty Lloyd’s insurer, has announced its intention to launch a marine war consortium, offering up to $1 billion of Lloyd’s capacity, which comprises $500 million for hull war and $500 million for cargo war. The consortium, which will …
POSTED APRIL 17, 2026 11:07 AM |
US-Iran Deal Will Take Months, Gulf and Europe Officials Say
Some Gulf Arab and European leaders believe that a US-Iran peace deal will take about six months to be agreed and that the warring sides should extend their ceasefire to cover that timeframe, according to officials from the regions familiar …
POSTED APRIL 17, 2026 8:46 AM |