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Safety Agency Orders Tesla to Stop Selling Warning Reduction Feature
The Autopilot Buddy is marketed as a “nag reduction device” that can fool Tesla Inc.’s semi-autonomous driving system to circumvent a warning when a driver’s hands aren’t on the steering wheel, but U.S. regulators have another term for the product: …

POSTED JUNE 20, 2018 12:48 PM
Hurricane-Proof Home Building Available But Pricey, Slow to Be Adopted
In a private waterfront resort on the northern tip of Key Largo, nestled between tropical forest and the Caribbean, Eric Soulavy is marketing luxury for the age of climate change: Coastal homes that are all but hurricane proof. The Florida-based …

POSTED JUNE 20, 2018 12:38 PM
Tokio Marine to Acquire Thai, Indonesian Operations of IAG for $390M
Tokio Marine Holdings Inc. announced on June 19 it has entered into a definitive agreement to acquire Thailand and Indonesia insurance businesses of Insurance Australia Group Ltd. (IAG) for approximately A$525 million (42.8 billion Yen; $390 million) in cash. The …

POSTED JUNE 20, 2018 11:47 AM
Aon Launches Updated Thai Flood Model to Support Underwriters in Market
Aon plc, the London-based professional services firm, has launched an updated Thailand flood catastrophe model to improve understanding of this peril and help insurers build resilience for businesses and communities. Following the flood of 2011 that caused more than US$15 …

POSTED JUNE 20, 2018 11:31 AM
SoftBank Overhauls Top Management Team
Masayoshi Son elevated two SoftBank Group Corp. executives and one outsider to his inner circle, appointments that become official on Wednesday. The board approved the nominations of Marcelo Claure, Rajeev Misra and Katsunori Sago as executive vice presidents. Sago also …

POSTED JUNE 20, 2018 11:04 AM
Toyota’s $1B Investment in Ride Hailer Grab Opens Door to Data-Driven Insurance
By pumping $1 billion into ride-hailing firm Grab, Toyota Motor Corp. stands to gain a passenger-side view of tens of thousands of cars across Southeast Asia, tracking how fast they drive, how far they travel and the time they spend …

POSTED JUNE 20, 2018 10:49 AM
Liberty Mutual Taps Kelly, Dolan for Key Posts
Liberty Mutual announced that Shaun E. Kelly has been named president of Distribution for Global Risk Solutions (GRS). In this role, Kelly will lead distribution and marketing of the unit’s diversified commercial and specialty insurance and reinsurance product portfolio. Kelly …

POSTED JUNE 20, 2018 10:46 AM
Hackers Steal $32M from S. Korean Cryptocurrency Exchange Bithumb
South Korean cryptocurrency exchange Bithumb said 35 billion won ($31.5 million) worth of virtual coins were stolen by hackers, the second local exchange targeted in just over a week as cyber thieves exposed the high risks of trading the digital …

POSTED JUNE 20, 2018 10:16 AM
Survey: Floridians Still Not Adequately Prepared for Hurricane Season
Just six months after the punishing 2017 season battered the Sunshine State, most Floridians are still not prepared for the potential assault of another hurricane season, according to a survey by the Florida Association for Insurance Reform (FAIR) Foundation. The …

POSTED JUNE 20, 2018 5:07 AM
South Carolina Searching for Man Stealing Cars from Dealerships
Police across South Carolina are trying to find a man who is taking cars from dealerships across the state. Sumter County deputies said Monday the man most recently stole a new car from a Sumter dealership, drove it to Beaufort …

POSTED JUNE 20, 2018 4:32 AM

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