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Most insurance companies will “fail the AI test”: Lemonade CEO
“The only way for AI to be successful in the organization, beyond being a tool that people use to write things and query, is if you prepare for it,” Schreiber said. “AI, like people, needs to be trained. It needs feedback. It needs to be managed. It needs people looking over its shoulder and saying…

Liberty Mutual legal dispute over construction bonds dismissed without prejudice
Given the lack of a present, quantifiable obligation from LPCiminelli to the Debtor, the court determined that the Debtor could not establish a right to payment under the bonds at this time. Therefore, the court granted Liberty Mutual’s motion, denied the Debtor’s cross-motion, and dismissed the complaint without prejudice. Source link

Leadership shakeup at Zurich, Old Republic International
Craig R. Smiddy, president and CEO of Old Republic International, said that since joining BITCO in 2023, Lehman has contributed to growth, profitability, and operational efficiency, and that his leadership will help maintain continuity as the company continues to serve agents, brokers, and customers with specialized insurance solutions. Source link

GETTING YOUR HOME AND AUTO READY FOR THE CHANGING SEASONS
Moving from Summer to Fall brings many changes: back to school, leaves changing colors, football, cooler weather, etc. It’s also a time to prepare your home and auto for the colder months ahead. Here are some essential tips for homeowners: 1. Clean Your Gutters – remove leaves and debris to prevent clogging, which can lead…

Judge dismisses ERISA class action over Wells Fargo’s prescription drug benefit practices
The plaintiffs—Sergio Navarro, Theresa Gamage, Dayle Bulla, and Jane Kinsella—are former Wells Fargo employees and former participants in the Wells Fargo & Company Health Plan (“the Plan”), a self-funded employee welfare benefit plan governed by ERISA. They sued on behalf of themselves, other similarly situated participants, and the Plan itself. Source link

American Integrity sets IPO terms as homeowners policies surge in Florida
Last year, TWFG Insurance, a Texas-based insurance broker, made a strong market debut. Priced at $17 per share, the IPO exceeded expectations, closing at $22.10 on its first trading day – a surge of over 30%. The company raised approximately $170 million, which is earmarked for debt repayment, potential acquisitions, and general corporate purposes. Source…