Insurance
Waymo Applies for NYC Testing Permit, Sending Uber and Lyft Shares Lower

Alphabet Inc.’s Waymo has utilized for a allow to check its robotaxis in New York Metropolis, underscoring its intent to function in one of many largest ride-hailing markets within the US regardless of an absence of native laws supporting commercially operated autonomous automobiles.
The corporate has utilized for a permit with the town’s Division of Transportation to function its automobiles autonomously in Manhattan with a educated human specialist supervising behind the wheel, spokesperson Ethan Teicher stated in a press release Wednesday. Shares in rival ride-hailing suppliers Uber Applied sciences Inc and Lyft Inc. slid on the information.
Whatever the allow end result, Waymo plans to have a human driver manually function its vehicles in New York to gather information and consider its know-how beginning subsequent month, he stated, much like a mapping undertaking it carried out within the metropolis in 2021.
Waymo presently affords totally autonomous, paid rides in Los Angeles, Austin, Phoenix and San Francisco, plus different elements of that area. It can additionally provide these journeys via Uber’s platform in Atlanta later this summer time, with Miami and Washington to come back subsequent yr.
However Waymo received’t be launching a comparable business service in New York quickly, as a result of a prohibitive regulatory atmosphere. The town identifies itself as “a number of the most difficult city road environments for an AV to navigate,” in keeping with the Division of Transportation’s allowing web site, and doesn’t presently provide a allow for totally autonomous business ride-hailing companies. New York state regulation doesn’t permit for such companies both.
The town’s stringent laws additionally prolong to human-operated taxi and rideshare companies. Firms like Uber and Lyft have persistently sparred with a robust union of taxi medallion homeowners and drivers, they usually’ve challenged laws like for-hire car caps and minimum wage requirements for drivers.
Waymo is in search of regulatory adjustments in New York, significantly the power underneath state regulation to function a car with no human behind the wheel.
“We’re hopeful New York can enact regulatory adjustments that will permit us to carry our service to the town and state sooner or later, and we proceed to have optimistic conversations with native and state elected officers, regulators and neighborhood organizations,” the spokesperson stated.
The information despatched shares of rival Uber down as a lot as 2.9%, whereas Lyft fell as a lot as 3.8%. Alphabet’s inventory was little modified.
Alphabet has been quickly increasing Waymo, with its business fleet of greater than 1,500 automobiles now providing more than 250,000 paid passenger journeys every week, 5 instances the quantity it supplied a yr in the past. The unit is a part of the corporate’s “different bets” division, a set of futuristic companies that generated $450 million in first-quarter income.
Different Cities
Waymo has been including to the record of markets the place its automobiles collect intensive street information to coach its autonomous know-how. Most just lately, it introduced it’s conducting mapping and testing in Nashville, Boston, Houston and Orlando. Testing in New York may permit it to raised assess its know-how within the Northeast’s cooler local weather.
Different autonomous car firms have additionally been increasing testing and capability to arrange for large-scale business companies within the US. Amazon.com Inc.-owned Zoox said Wednesday that it’s opening its first serial manufacturing facility within the US for its purpose-built automobiles. The ability is anticipated to assemble greater than 10,000 robotaxis a yr, supporting deliberate launches in Las Vegas, San Francisco and Austin and Miami within the coming few years.
Tesla Inc. has been equally testing its self-driving automobiles in Austin, with Chief Govt Officer Elon Musk setting a tentative launch date of June 22 for its long-touted robotaxi service.
Prime Photograph: A Waymo autonomous taxi in San Francisco, California, US, on Thursday Aug. 10, 2023. California regulators are poised to resolve whether or not two rival robotaxi companies can present around-the-clock rides all through San Francisco, regardless of escalating fears about recurring incidents which have brought on the driverless automobiles to dam site visitors or imperil public security, reported the AP.
Copyright 2025 Bloomberg.
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Progressive Q2 Income More Than Doubles

Second quarter web earnings at Progressive Corp. elevated 118% in comparison with the identical interval a 12 months in the past to about $3.2 billion.
Progressive experiences outcomes month-to-month. Web earnings for June was up 40% to $1.1 billion. Yr-to-date web earnings as of June 30 is $5.7 billion, up from about $3.8 billion a 12 months in the past.
The Mayfield Village, Ohio-based insurer’s second quarter mixed ratio was 86.2—a 5.7-point enchancment over Q2 2024. Web premiums written (NPW) in Q2 had been about $20 billion, a rise of 17% in comparison with the identical time interval final 12 months.
Private strains recorded a year-to-date mixed ratio of 85.9 regardless of a web disaster loss ratio of 20.0 year-to-date in private property.
Yr-to-date NPW in Progressive’s direct auto enterprise grew 22% to about $19.4 billion. Company-channel auto grew 14% to just about $20 billion as of June 30. Private property NPW development held at 1%.
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Aon Promotes Reinsurance Leaders as John Neal Takes a New Direction With AIG

Insurance coverage dealer Aon introduced the promotions of Alfonso Valera as CEO of Worldwide for Reinsurance, accountable for UK, EMEA and APAC, and Steve Hofmann as CEO of Americas for Reinsurance, accountable for North America and Latin America. As well as, George Attard has been named world head of Technique and Tomas Novotny has been appointed chairman of Worldwide.
Aon mentioned these reinsurance appointments are unconnected to immediately’s announcement from AIG that John Neal, the previous CEO of Lloyd’s, could be taking over a serious government position on the insurer, somewhat than shifting to Aon as CEO of Reinsurance as initially had been deliberate.
In the beginning of 2025, Neal had been named CEO of reinsurance at Aon, and has been on gardening go away since he left Lloyd’s on the finish of Could – however he by no means truly labored for Aon. Immediately, AIG introduced he’ll take a unique course, main AIG’s Common Insurance coverage—North America and worldwide business insurance coverage companies plus AIG’s world private insurance coverage ebook.
An Aon spokesman famous that these regional appointments had been in prepare earlier than AIG’s announcement about Neal, and the dealer determined to maneuver up its announcement when Neal made his determination to maneuver to AIG — so as “to supply readability” in regards to the group.
“AIG is a superb accomplice of ours, and we actually help what’s taking place right here,” the Aon spokesman mentioned. He defined there are not any plans to conduct a seek for a CEO of reinsurance as a result of Andy Marcell will stay in his present position with the brand new group reporting into him. Marcell leads Aon’s built-in Danger Capital and Human Capital capabilities throughout the agency’s Reinsurance, Industrial Danger, Well being, Wealth and Expertise groups.
“We want John Neal nice success in his new position and stay up for working with him at AIG. World Options CEO Andy Marcell and our industry-leading Reinsurance group are strongly positioned to proceed to innovate on behalf of our purchasers,” mentioned Aon in an official assertion.
Valera beforehand served as co-CEO of EMEA for Reinsurance and, earlier than that, as CEO and normal supervisor of Aon Re Iberia, amongst different management roles. Hofmann beforehand served as U.S. CEO of Reinsurance and earlier as U.S. co-president of Reinsurance.
Attard most not too long ago served as CEO of Reinsurance for APAC, following 17 years on the agency main technique and consumer engagement within the area. Novotny has served as co-CEO of EMEA for Reinsurance, chairman of the board of Central and Jap Europe for the agency and as a broking chief for Aon primarily based in Prague.
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Society Insurance Names Felton to Board of Directors


Society Insurance coverage, headquartered in Fond du Lac, Wisconsin, elected Chris Felton of Burlington, Wisconsin, as a director
Felton is president and chief govt officer of Company Central Credit score Union, main technique, innovation and operations.
Along with Felton, Society’s board of administrators additionally consists of Heather I. Boyer, Sherman L. Brown, JoAnn M. Cotter, John F. Duwell, Susan M. Finco, Nancy Hernandez, Linda L. Newberry-Ferguson and Rick W. Parks.
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