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Insurance ‘AAA’s unaffected by U.S. downgrade, financial conditions key risk: Fitch

by AIP Online Bureau | Aug 3, 2023 | Eco/Invest/Demography, International News, Life

Ratings for these U.S. insurers and the broader sector could face pressure if U.S. fiscal and governance deterioration contributes to a negative scenario of heightened capital market volatility and/or a more severe economic downturn The ‘AAA’ Insurer...
Safety Standards: As e-bikes proliferate in US, so do deadly fires blamed on exploding lithium-ion batteries

Safety Standards: As e-bikes proliferate in US, so do deadly fires blamed on exploding lithium-ion batteries

by AIP Online Bureau | Jul 30, 2023 | Articles, Non-Life, Risk Management, Technology

“We have reached a point of crisis in New York City, with ion batteries now a top cause of fatal fires in New York.” With some 65,000 e-bikes zipping through its streets — more than any other place in the U.S. — New York City is the epicenter of...

Google AI health chatbot passes US medical exam: Study

by AIP Online Bureau | Jul 16, 2023 | Health, Risk Management, Technology

To identify and cut down on “hallucinations” — the name for when AI models offer up false information — Google said it had developed a new evaluation benchmark Google’s artificial intelligence-powered medical chatbot has achieved a...

FTC opens investigation into OpenAI over misleading statements

by AIP Online Bureau | Jul 13, 2023 | Eco/Invest/Demography, Regulation, Technology

The FTC this week sent a 20-page demand for records about how OpenAI addresses risks related to its AI models. The agency is investigating whether the company engaged in unfair or deceptive practices that resulted in “reputational harm” to consumers The...

Allianz US unit ordered to pay $6 billion in securities fraud case

by AIP Online Bureau | Jul 13, 2023 | International News, Non-Life, Regulation

US District Judge Colleen McMahon imposed the sentence Wednesday in Manhattan on Allianz Global Investors US, which had agreed to the payout last year when it pleaded guilty to a single criminal charge of securities fraud as part of a deal with federal prosecutors. It...
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