When accountants at mid-tier firm Moore Kingston Smith began using artificial intelligence to speed up their work, profit margins jumped. Colleagues in another team running checks against corporate fraud created a report for customers in two hours, something that previously …
Category: East
Binance Faces Lawsuit by Hamas Victims Under Anti-Terrorism Law
Binance Holdings Ltd. faces a lawsuit claiming the cryptocurrency platform “knowingly facilitated” crypto transactions by Hamas before the group attacked Israel on Oct. 7, 2023, killing 1,200 people and taking 250 hostages. More than 300 victims and family members of …
Insurance Customers Skeptical About AI Processes and Benefits
While insurance consumers may be warming up to artificial intelligence, 68% say they believe the insurance company gets most of or all the benefits of AI adoption. AI is becoming more ingrained and accepted as part of the insurance industry’s …
Barge Looted in the Bahamas Returns to Florida but Insurance Claims Mounting
A barge carrying 192 shipping containers that ran aground in the Bahamas and was quickly looted has returned to Jacksonville, ending a stormy journey that will likely result in millions of dollars in insurance claims. The barge, known as the …
Federal Jury Awards $80 Million to Estate of NY Man Wrongfully Convicted of Murder
A federal jury awarded $80 million Wednesday to the estate of a Buffalo man whose conviction in a 1976 murder was overturned after he spent nearly a quarter century in prison. Darryl Boyd, one of the group of Black teenagers …
Contractor and Cape Cod Town Began Court Battle Before Fatal Trench Collapse
The employer of a construction worker who was killed in a trench collapse on Cape Cod last week and the town that hired the firm for the sewer project are in a legal dispute that began before the fatal accident. …
Lawsuit Alleges Farm Bureau Financial Concealed Fraudulent Activities
Two former top investigators for Farm Bureau Financial Services are suing the company for fraud, racketeering and wrongful termination. The lawsuit alleges the insurer’s management group knew of fraudulent activity committed by company employees and refused to report fraud to …
More Federal Legislation Introduced to Tackle Third-Party Lit Funding
Sen. John Kennedy has introduced a new bill aimed at reforming the courtroom practice of third-party litigation funding. Kennedy, R-La., introduced the Protecting Our Courts from Foreign Manipulation Act last week, and it was immediately supported by the insurance industry …
Norfolk Southern Revives Plans for Firefighter Training Near Site of Ohio Derailment
Norfolk Southern railroad worked with the state of Ohio and Youngstown State University to revive plans for a $20 million first responder training center near the site of the worst derailment in a decade in East Palestine, Ohio. Building a …
Ohio Machining Company to Pay $2M to Settle Sex Discrimination Case
Glunt Industries, Inc., a Warren, Ohio machining company which operates four large-scale fabrication plants, will pay $2 million and provide other relief to settle a lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced today. …