Insurance
Pano AI in California Raises $44M Series B to Scale Early Detection

San Francisco, California-based Pano AI introduced the shut of its $44 million Sequence B funding spherical.
The spherical, which brings its whole quantity raised to $89 million, was led by new investor Large Ventures, with extra new participation from Liberty Mutual Strategic Ventures and Tokio Marine Future Fund, in addition to continued help from Congruent Ventures, Initialized Capital and Salesforce Ventures.
Pano AI mentioned it’s going to use the expansion capital to speed up adoption and deployment of its AI-powered wildfire detection and intelligence companies.
Pano AI was based by Sonia Kastner, chief govt officer, and Arvind Satyam, chief business officer.
Pano AI was launched in 2020. The corporate supplies early detection and situational consciousness options to fireplace businesses, utilities, governments, and personal landowners. The corporate’s companies are deployed throughout the U.S., Canada and Australia.
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InsurTech
Data Driven
Artificial Intelligence
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Former Connecticut Trooper Accused of Workers’ Compensation Fraud

A former Connecticut state police trooper has been arrested and charged with gathering employees’ compensation advantages totaling $8,341.00 throughout his employment with the Connecticut Division of Emergency Providers and Public Safety (DESPP).
Jose Campos, age 32, of Winsted, was arrested by inspectors from the Staff’ Compensation Fraud Management unit within the Chief State’s Legal professional’s workplace. Based on the arrest warrant affidavit, Campos misrepresented materials information associated to his claimed harm. He claimed, opposite to witnesses, that whereas on obligation at DESPP headquarters, he was struck on his decrease again by a restroom door. He claimed that the door struck him with such pressure that it knocked him all the way down to the ground and that he was additional hit a number of occasions as others tried to enter the restroom.
Campos was positioned on short-term complete incapacity standing, a wage alternative profit paid by the employer’s employees’ compensation insurance coverage service whereas the claimant is unable to carry out any kind of labor as a consequence of a work-related harm or sickness. He acquired $8,341.00 in alternative wages.
The case can be prosecuted by the Staff’ Compensation Fraud Management Unit of the Workplace of the Chief State’s Legal professional in Rocky Hill.
The costs are merely accusations, and the defendant is presumed harmless until and till confirmed responsible in a courtroom of legislation.
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Workers’ Compensation
Talent
Connecticut
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Circadian Risk Names Schools CFO


Circadian Threat, headquartered in Ann Arbor, Michigan, named Frank Faculties as chief monetary officer (CFO). Faculties will oversee the corporate’s monetary technique, planning, danger administration and reporting capabilities.
Faculties beforehand labored with Circadian Threat principals whereas serving as CFO of Common Providers of America (now Allied Common). Faculties’ 46-year profession in finance consists of positions with Companions Group and Warburg Pincus, and he has labored with main non-public fairness corporations similar to Ares Administration, Blackstone and Onex. He has additionally held senior finance roles at 99 Cents Solely and Pacific Sunwear.
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K-12
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Ex-Shell US Oil Trading Boss Claims He’s Owed $29 Million Bonus

Shell Plc’s former head of oil buying and selling within the US was stiffed on his 2020 bonus by greater than $29 million, he claims in a lawsuit that shines a light-weight on compensation contained in the oil main’s profitable buying and selling unit.
John Dimech alleges that though his unit’s income doubled in 2020, his bonus for that yr was little modified after Shell unexpectedly modified pay calculations, in line with the lawsuit in federal courtroom in Texas. If Shell had adhered to its established formulation for calculating bonuses, Dimech claims he would have obtained about $40 million. However he solely received about $11 million as an alternative.
Shell doesn’t disclose the efficiency of its buying and selling unit to traders. Based on Dimech, the North America crude group boosted revenue from already-record ranges as companies shut and other people hunkered down at house through the onset of the pandemic.
“Shell has a aggressive pay and advantages program, benchmarked throughout the vitality business,” a spokesperson for the London-based firm mentioned, declining to remark additional on the continuing litigation.
The lawsuit was filed after an inside arbitration and makes an attempt to barter didn’t bear fruit, in line with the grievance in federal courtroom in Houston. Shell is searching for to switch the case to a courtroom within the UK.
Dimech, who had been primarily based in Houston and left the corporate in 2021 for his house nation of Australia, didn’t return messages searching for additional remark.
Dimech labored for Shell for 30 years, together with greater than 20 years within the buying and selling unit, in line with the lawsuit filed in January. On the time referenced within the lawsuit, he was president of Shell’s buying and selling arm within the US and normal supervisor of North America crude buying and selling.
Whereas it’s unclear how a lot cash the North American crude buying and selling group made in 2020, Shell’s buying and selling income common near $1 billion, Dimech mentioned in separate courtroom paperwork.
He argues that Shell executives repeatedly reassured him all through 2020 that the business bonus program, a significant factor of merchants’ compensation package deal, wouldn’t be modified regardless of the extraordinary circumstances posed by the pandemic. Oil costs plunged into unfavorable territory amid the lockdowns earlier than rapidly rebounding, with the unstable swing offering merchants alternative to guide vital income.
Regardless of the assurances, Shell modified the bonus calculations, leading to a $29.4 million shortfall in his payout, he claims. Shell’s chief government officer on the time, Ben van Beurden, had whole compensation of 5.84 million euros ($6.74 million) for that yr and didn’t obtain a bonus, in line with knowledge compiled by Bloomberg. Shell reported a $21.7 billion loss that yr, primarily attributable to impairments and writedowns.
Dimech ran the buying and selling unit’s bonus program for about 15 years and was liable for calculating the payout for the business groups that included 80 workers in North America and 18 in Singapore, in line with the swimsuit. A suggestion from normal managers akin to Dimech is step one in a prolonged course of, and the payouts are in the end permitted by the corporate’s bonus oversight committee, in line with separate courtroom paperwork.
In previous courtroom filings, Shell has mentioned bonuses are awarded on the firm’s sole discretion. The oil main additionally has mentioned payouts are primarily based on efficiency, not as a proportion of the worth of income accrued through the yr.
Copyright 2025 Bloomberg.
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