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Ramaco Resources Awarded $30M in Insurance Lawsuit
Ramaco Resources (METC) announced that a federal jury has returned a verdict awarding $30M in damages to Ramaco Resources, LLC, a subsidiary of the company, in its insurance coverage lawsuit against Federal Insurance Company and ACE American Insurance Company, both subsidiaries of the Chubb Insurance company (CB). The trial was held in the Charleston Division of the United States District Court for the Southern District of West Virginia. The lawsuit arose from the defendants' denial of Ramaco LLC's insurance claim following a partial structural failure of a raw coal storage silo at the Company's Elk Creek preparation plant in November 2018. Ramaco LLC filed suit in August 2019, seeking a declaratory judgment that the silo collapse was an insurable event and to require coverage under the applicable policy. On September 25, 2026, following the new trial on damages, the jury determined by a preponderance of the evidence that the following damages should be awarded to Ramaco LLC: Damages for aggravation and inconvenience in the amount of $2.5M; and Damages for net economic loss in the amount of $27.5M. The Court entered judgment in favor of Ramaco LLC and against defendants Chubb in accordance with the jury's verdict on September 25, 2026. The jury's verdict resolved two of the three elements of damages in the matter. The remaining element - attorney's fees - was not decided by the jury and will be determined by the Court. The defendants may file post-trial motions within 28 days of the entry of judgment and will have 30 days from the date of entry of the final judgment to file a notice of appeal.
Insurify Blocks Meta's Muse from Accessing Its Platforms
Online insurance marketplace Insurify announced it has blocked Meta's (META) Muse personal AI agent from accessing Insurify's comparison shopping platforms. "Insurify made this decision to protect both consumers and its carrier partners," the company said in a statement. It added, "Automated scraping by agents like Muse risks stripping carrier quotes of critical contextual information that consumers need to make informed insurance-buying decisions. The Muse AI agent can present carrier quotes as a bare price list and omit coverage limits, deductibles, discounts, eligibility conditions, and state-required disclosures. A carrier quote is an offer of coverage, not merely a price, and Insurify protects the accompanying terms, eligibility, attribution, and disclosures that empower consumers to make an informed choice for their needs." Publicly traded companies in the insurance space include AIG (AIG), Allstate (ALL), Chubb (CB), Hartford (HIG), Progressive (PGR) and Travelers (TRV).
Chubb Group Appoints New Leaders in Digital Business
Following Sean Ringsted's appointment as Chief Scientist and EVP, Chubb Group, Chubb announced two additional leadership appointments in its Digital Business organization, effective immediately. Johan Oosthuizen has been named Global Head of Digital Business. In this capacity, he will have executive responsibility for all aspects of the digital business globally. This includes the acquisition and performance of partnerships across Chubb's digital business, and the deployment of approved products. Johan brings extensive experience to this role, having most recently served as Global Digital Chief Technology Officer. Additionally, Gabriel Lazaro has been named Global Head of Digital Growth & Strategic Consumer Partnerships. Gabriel will be responsible for Chubb's partnership relationships, including a shared vision and strategies for growth across digital platforms, technology companies and emerging ecosystems. The role will identify and shape new growth opportunities and invigorate existing relationships across P&C and Life, working across Chubb Overseas General and North America addressing evolving customer needs and creating value for both Chubb and its partners. Gabriel will report to Paul McNamee and to Johan Oosthuizen in the spirit of partnership. Gabriel joined Chubb in 2016 as Head of Digital for Latin America and was promoted in 2021 to Executive Vice President, Head of Digital Business for Overseas General Insurance
Chubb Limited Appoints Sean Ringsted as Chief Scientist
Chubb Limited announced that Sean Ringsted has been named Chief Scientist and Executive Vice President, Chubb Group, effective immediately. In this newly created role, Ringsted will focus on and have responsibility for the company's artificial intelligence, data and analytics strategy and initiatives worldwide. Ringsted brings more than three decades of experience and a long record of accomplishments at Chubb and its predecessor, ACE Group. His experience spans risk, digital transformation, analytics and actuarial leadership. He most recently served as Executive Vice President, Chubb Group and Chief Digital Business Officer and has led the company's AI efforts globally. In this role, Sean formed and led the successful profitable growth of the company's digital business unit. Additionally, Sean has been central in directing how Chubb uses data and analytics to drive decision-making across the company.
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