Author: completebodyneeds

Edison International shares fell over 3% on Tuesday after short seller Muddy Waters said it had uncovered new information suggesting the utility acted with “conscious” or “willful” disregard in the Eaton Fire. Related: Southern California Edison Chief Warns Wildfire Impasse Risks Higher Customer Bills The investment firm said Edison could face at least $4 billion in fire-related damages, with potential liability reaching about $20 billion if a court determines the firm’s conduct amounted to willful misconduct. Here are more details: Muddy Waters said the utility’s Southern California Edison unit failed to fix deficiencies in a wildfire risk model despite allegedly…

A Las Vegas business owner pleaded guilty to arranging a fake armed robbery of his cellphone repair store to collect an insurance payout. Erwin Lanada, owner of CPR Cellphone Repair, pleaded guilty to one count of mail fraud. According to court documents, Lanada hired Marco Antonio Capistran on Oct. 25, 2023, to stage a robbery at his store, which repaired and sold cellphones and other electronic devices. Lanada provided Capistran with a revolver and promised to pay him for his participation. During the staged robbery on Oct. 26, Capistran pointed the revolver at Lanada, demanded electronic devices, parts and cash,…

Chicago-based RT Specialty and Ryan Alternative Risk, the wholesale brokerage and alternative risk divisions of Ryan Specialty, have expanded RT FLEX, a proprietary follow-line facility that gives RT Specialty brokers access to additional capacity across a broad range of specialty insurance products. Originally launched in 2025 to address excess casualty placements, RT FLEX has grown into a multi-line platform spanning three major product verticals: Property, Casualty, and Professional & Executive Liability. Current lines include Property, Builder’s Risk, Excess Casualty, Construction, Professional Liability, Directors & Officers Liability, Errors & Omissions Liability, Employment Practices Liability, Fiduciary Liability, and Medical Professional Liability. RT…

The Federal Aviation Administration told US airlines to exercise caution when flying to or over Saudi Arabia, citing safety threats tied to ongoing military activities and navigation system interference. The FAA Notice to Airmen, which lasts until December 10, follows strikes on Oct. 10 and Oct. 11 on Riyadh’s international airport. The attack on Saturday killed 13 people and wounded more than 300. “Threats could pose a potential risk to aircraft at all altitudes, including overflight, the arrival, and departure phases of flight,” the FAA said, warning of the “potentially hazardous situation.” The notice also applies to operators of airplanes…

Iranian attacks on ships crossing the Strait of Hormuz have surged, potentially threatening the recent recovery in Persian Gulf oil exports. People working in the shipping industry said there were signs that the flow of cargoes through the waterway may be slowing, after rising close to prewar levels earlier this month. Still, there was no clear evidence of change in oil loadings observed from several of the region’s top producer countries, and one shipowner said movements through Hormuz didn’t appear curtailed. Hostilities are increasing across the Middle East, with Saudi Arabia coming under a wave of attacks by Yemen’s Houthis,…

Etude launched Etude Specialty Insurance Company, a technology-driven excess and surplus lines carrier for commercial property and casualty. Etude Specialty is domiciled in Nebraska, has more than $100 million of surplus, and will write in all 50 states. Etude also named Daniel Rossen president of Etude Specialty. Rossen has more than 30 years of experience in specialty and E&S insurance. At The Hartford, he led the Maxum Specialty property and E&S binding business. At ICW Group, he launched the commercial multi-peril unit and set its underwriting appetite and strategy. Most recently, he was head of property at Origin Specialty Underwriters.…

SpaceX is proposing to increase the number of Starship launches and landings it conducts out of its Starbase facility in South Texas to hundreds of flights each year, a plan currently being reviewed by the US government. The US Federal Aviation Administration said it intends to prepare an environmental impact statement and hold public meetings on SpaceX’s plans, according to a notice released Tuesday. SpaceX is proposing to perform as many as 456 launches and 912 landings at its Texas facility each year, according to the FAA. Landings would occur after a launch or a mission, when the two primary…

New company Harbor said it has emerged from stealth to help with the risks of deploying AI agents. San Francisco-based Harbor starts with $10 million in seed funding from Base10 Partners, Abstract and 8VC. Harbor said it helps companies measure and mitigate the operational, security, and regulatory risks of AI agents, insuring them if the agent fails or causes a loss. Harbor works with banks, insurers and other regulated companies in the United States, Europe and Latin America. Historically, when an employee makes a mistake, the company is covered, said Harbor. Professional liability, cyber, and tech E&O policies pay for…

Tesla Inc. is facing scrutiny from US auto-safety regulators over whether its driverless taxis exceed posted speed limits near schools, a new hurdle for the automaker’s slow-growing robotaxi service. The National Highway Traffic Safety Administration said it’s evaluating the claim that Tesla Cybercab and Model Y vehicles using automated systems drive too fast in active school zones. The move stems from a recently filed petition that offers video of several incidents as supporting evidence, according to documents posted Monday to NHTSA’s website. The preliminary probe covers an estimated 1,000 vehicles from the 2026 model year, NHTSA said. The agency has…

Orbital data centers chasing unlimited solar power and boundless real estate increase the risk of potentially catastrophic conflict in space — just as militaries worldwide embrace artificial intelligence and see computing facilities as critical infrastructure. On the ground, government server farms are highly protected and can be buried to make them more resilient to attack. Iranian airstrikes targeted data centers across the Middle East, and Ukrainian attacks in recent days destroyed several in Russia, highlighting their perceived value. In space, the facilities would be vulnerable to missiles, jamming, cyber attacks and directed-energy weapons. Defending them is costly, yet a successful…