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People Moves: Everest Appoints Busti From AXIS as Head of North America Treaty Re; AXA XL Taps Lockton’s Reynolds as Head of Marine, UK & Lloyd’s, Global CUO for Hull

Article 0 Comments This edition of International People Moves details appointments at Everest Group and AXA XL. A summary of these new hires follows here. Everest Appoints Busti From AXIS as Head of North America Treaty Reinsurance Everest Group Ltd., the Bermuda-based specialty re/insurer, announced the appointment of Jason Busti as head of North America Treaty Reinsurance to lead the division’s treaty reinsurance business across the United States, Bermuda, and Canada. Jason Busti He will report to Jill Beggs, executive vice president and CEO of Reinsurance, and will serve as a key member of her leadership team. Prior to joining Everest, Busti served as president of North America at AXIS Re, where he led treaty reinsurance operations across the United States, Bermuda, and Canada. Earlier in his career, he spent more than 20 years at Swiss Re, holding a range of senior leadership roles including managing director, client executive, responsible for leading Client Management and Broker Market Underwriting Teams driving profitable growth across global client portfolios. Busti earned a master’s degree in finance and international business and a bachelor’s degree in finance from Iona College. *** AXA XL Taps Lockton’s Reynolds as Head of Marine, UK & Lloyd’s, Global CUO...

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Meta, Google Lose Case Over Social Media Harm to Kids

Article 0 Comments A Los Angeles jury on Wednesday found Meta and Alphabet’s Google negligent for designing social media platforms that are harmful to young people, in a $6 million verdict that will serve as a bellwether for numerous similar cases. The jury found Meta liable for $4.2 million in damages and Google for $1.8 million, small amounts for two of the world’s most valuable companies with annual capital spending over $100 billion each. The Los Angeles trial is meant to serve as a bellwether, or test case, for the thousands of similar lawsuits consolidated in California state courts. Related: Meta Loses Insurance for Defense in Major Social Media Addiction Litigation ‘Accountability Has Arrived’ The case involves a 20-year-old woman, a minor when the case began who is known in court by her first name Kaley. She said she became addicted to Google’s YouTube and Meta’s Instagram at a young age because of their attention-grabbing design, such as the “infinite scroll” that encourages users to keep looking at new posts. The jury found Google and Meta were negligent in the design of both apps and failed to warn about their dangers. “Today’s verdict is a referendum — from a jury,...

Wisedocs: Turning Claims Documents Into Decisions 0

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Wisedocs: Turning Claims Documents Into Decisions

Wisedocs Launches Decision Intelligence Platform Built for the Claims Lifecycle — Helping Carriers, TPAs, and Legal Teams Close Files Faster and Reserve with Confidence Miami, FL (Mar. 25, 2026) – Claims teams face a compounding problem: nuclear verdicts, social inflation, and litigation funding have raised the cost of a wrong decision to its highest level in a generation. Meanwhile, claims professionals spend 40–60% of their time organizing, reading, and searching documents before making a single claim decision. Wisedocs today introduced an AI-powered decision intelligence platform built to address that problem directly — moving carriers, TPAs, and legal teams from manual file review to structured, decision-ready intelligence across the full claims lifecycle, from intake and active care through escalation, litigation, and closure. The platform turns complex claim documents into source-linked intelligence that surfaces risk signals, inconsistencies, and key insights early. It is built to handle even the most complex files, including claims exceeding 100,000 pages. The result is a new level of speed and confidence in claims outcomes. Organizations using Wisedocs report 60–80% faster first touch on complex claims and up to 2x case handling efficiency, enabling claims teams to move from document preparation to decision-making far earlier in the lifecycle. In...

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Peak Re Names Swiss Re’s Kuk as CEO, Succeeding Co-Founder Hahn

Article 0 Comments Peak Reinsurance Co. Ltd., the Hong Kong-based reinsurer that specializes in emerging markets, announced that Victor Kuk will become chief executive officer, effective April 20, 2026, subject to regulatory approval. Kuk is succeeding Franz-Josef Hahn, co-founder and CEO of Peak Re, who will transition from his current role and assume the position of special adviser, continuing to provide strategic oversight until October 9, 2026. Kuk is a seasoned insurance executive with over two decades of leadership experience across Asia. He joins Peak Re from Swiss Re, where he served as CEO of Swiss Re Asia Pte. Ltd. and was also the head of P&C Reinsurance Market Unit. Kuk previously held senior roles including regional CEO for AXA Asia General Insurance and chief risk officer for QBE Asia Pacific and Latin America. “On behalf of the board, we sincerely thank Franz for his visionary leadership and dedication that have been central to Peak Re’s success in becoming a globally respected reinsurer,” commented Vincent Li, chairman of the board of Peak Re. “We warmly welcome Mr. Victor Kuk as CEO; his exceptional leadership and experience will guide the company into its next chapter, accelerating profitable growth and global diversification.”...

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Register: Risky Future AI Tools for Better Billing & Payments ‘Demo Day’ on March 25

Article 0 Comments Insurance Journal’s Risky Future series is hosting the “AI Tools for Better Billing & Payments for Insurance” Demo Day, a series of free AI tool demonstrations designed exclusively for insurance carriers, retail agencies, MGAs, as well as finance and operations leaders. The latest online event highlights modern billing, premium finance, payment processing, and reconciliation platforms built specifically for insurance operations. In partnership with Insurance Journal, Risky Future’s AI Tools for Better Billing & Payments for Insurance Demo Day will be held on Wednesday, March 25. Beginning at 1pm ET, AI technology experts will present and demo their products to attendees. Information shared during the event will include technology product demonstrations of tools to help reduce friction, improve collections, and enhance customer experience. Visit the event’s website to register for this free event. Each sponsored presentation, demo or case study will run between 15 and 20 minutes. The event focuses on AI and data-driven solutions which help improve intake automation, underwriting, AI chat, document review, quoting, enrichment, analytics, and more-each focused on specific use cases. Speakers include representatives from the following companies: InvoiceCloud: InvoiceCloud is the digital billing and payment platform purpose-built to accelerate a carrier’s entire payments...

Openly Partners With Claimtouch to Automate Personal Property Claims Valuation 0

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Openly Partners With Claimtouch to Automate Personal Property Claims Valuation

Integrated platform reduces settlement time and improves pricing consistency New York, NY (Mar. 5, 2026) – Openly, a tech-driven premium insurance provider, has announced a partnership with Claimtouch Analytics Inc. (“claimtouch”), an AI-native insurtech providing an end-to-end solution for personal property claims. This partnership is designed to reduce settlement times for content claims by automating the pricing and valuation of damaged personal property. Through the integration of claimtouch’s Personal Property Platform with Openly’s claims management system, adjusters can generate detailed contents inventories and estimates more efficiently, replacing manual processes with consistent, data-driven valuations. “We are setting a new standard for accurate and efficient claims processing,” said Gina Reyes, Vice President of Claims at Openly. “This partnership allows us to streamline our workflow and ensure that our customers receive fair and precise pricing for their damaged personal property, solidifying our commitment to a transparent and trustworthy claims experience.” Claimtouch’s platform uses machine learning and large-scale data to deliver real-time valuations for personal property losses, helping improve pricing consistency across claims. “We are thrilled to partner with Openly to provide a quick, accurate, and seamless content claim experience,” said Mick Noland, President & Co-Founder of claimtouch. “Openly shares our vision when it...

Floodbase and Liberty Mutual launch instant parametric flood quoting capability for US commercial market 0

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Floodbase and Liberty Mutual launch instant parametric flood quoting capability for US commercial market

New York, NY (Mar. 5, 2025) – Floodbase, the leading platform for insuring flood risk, and Liberty Mutual (Liberty) have announced the launch of an instant quoting application for parametric flood (re)insurance in the US. This solution allows wholesale and retail brokers to price parametric flood covers in minutes, removing friction and introducing the speed required to serve the high-volume small to midsized commercial market more effectively. Designed specifically for the US market Liberty’s pricing engine, powered by Floodbase Platform’s new API, revolutionizes a traditionally time-consuming and demanding quoting process to deliver the speed and consistency that distributors need. Large-area parametric flood covers have reached a point of product maturity, with policies now transferring the risk of economic loss at global scale for US Municipalities, Colombian Farmers, CEI’s nation-wide distributed property portfolio in Italy, and more. As the US demand for comprehensive flood risk management grows – driven by more frequent and intense flood events, rising National Flood Insurance Program premiums, and uncertainty around federal flood insurance – parametric flood is increasingly viewed as a viable complement to traditional property coverage, while also covering non-damage business interruption financial losses. US flood risk continues to outpace private market capacity. Two-thirds of modelled US...

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NHTSA Upgrades Probe into 3.2M Teslas Over Self-Driving Crashes

Article 0 Comments The National Highway Traffic Safety Administration on Thursday escalated its probe into 3.2 million Tesla vehicles with Full Self-Driving driver-assistance on concerns the system may fail to detect or warn drivers in poor visibility. NHTSA first opened a preliminary evaluation into the automaker’s FSD software in October 2024 in 2.4 million vehicles. The agency is now opening an engineering analysis, a required step before it can seek a recall. The agency said its investigation raises concerns the Tesla camera-based system did not detect common roadway conditions like glare, dust or other airborne obstructions that impaired camera visibility, or provide alerts when camera performance deteriorated until immediately before a crash. NHTSA said it had reports of nine incidents that may be tied to the issue including one fatal crash and two injury crashes, and was investigating whether six other crashes may be related. FSD is an assistance system that Tesla says takes care of the most stressful parts of daily driving but requires drivers to pay attention and intervene if needed. The investigation, which covers most Tesla vehicles on U.S. roads, adds to the regulatory scrutiny of the self-driving technology central to Tesla’s ambition to build a fleet...

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Oklahoma Insurance Producer Has License Revoked Following Investigation

Article 0 Comments The Oklahoma Insurance Department (OID) announced it has fined and revoked the license of Leslie Clark, a resident insurance producer from Stigler, Oklahoma, following an investigation led by its Anti-Fraud Unit. On Feb. 11, 2026, a show-cause hearing was held at OID’s offices before an independent examiner, at which Clark failed to appear. Clark was found to have improperly withheld and misappropriated 18 cash receipts totaling $7,269.38 from consumer premium payments. OID revoked Clark’s license and issued her a $2,000 fine. This case began when Farmers Insurance Group filed a complaint on Dec. 5, 2024. The complaint stated Clark failed to forward premium payments to the company. Farmers’ internal investigation revealed that between Aug. 23, 2023, and June 12, 2024, Clark had entered 18 cash receipts into its internal payment system to credit insureds’ policies. Clark failed to forward the funds to Farmers. Farmers’ investigation also found that Clark’s personal homeowners policy was canceled for non-payment on June 23, 2024. Clark entered a check receipt for $6,885.00 into the insurer’s internal payment system on July 31, 2024, to reinstate her homeowners policy but failed to make a deposit into Farmers’ bank account to cover the check amount....

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Texas Takes Over Permitting for Carbon Storage Projects

Article 0 Comments The Texas Railroad Commission spent two years working to secure the authority to issue the permits energy companies need to inject and store carbon dioxide underground, a power previously held by the federal government. Last November, the Environmental Protection Agency approved that request, a development experts said will make it easier for energy companies to apply for such permits, called Class VI. Both Democratic and Republican presidential administrations have approved generous tax incentives to energy companies to encourage carbon capture. While the effectiveness of the practice and benefits to the environment have been debated for years, the oil and gas industry has embraced it as a climate-friendly solution to pollution driven by industrial-scale fossil fuel production. But proponents of carbon capture technology argued that the federal government took too long to approve permits. The transfer of permitting to Texas isn’t likely to mean a rush of new projects, experts said, mainly because there hasn’t been a recent significant expansion of government incentives for direct air capture projects that trap carbon dioxide emissions, incinerate them and inject them deep underground. Here’s what to know about Class VI permits in Texas: What are Class VI permits? Class VI authorizes...