Major investors in Australia aren’t responding fast enough to rising threats to infrastructure and other assets from cyclones, floods and other natural disasters, according to a group focused on climate risks. Extreme weather events in the…
Israel plans to allow more oil tankers to dock at a Red Sea port in Eilat despite environmental risks, as it strives to maintain energy security amid conflict on multiple fronts, according to Israeli officials and government documents.…
Shipping fuel regulations introduced in 2020 have led to a substantial cut in sulfur dioxide (SO2) pollution, but may also have made the ocean warmer by reducing cloud cover, according to a modeling study in a paper published late on …
Nationwide’s Chetan Kandhari said the company is working to build a bionic workforce. Maybe that brings to mind robots, futuristic technology and sci-fi imagery, but Kandhari said no one should fear robots replacing humans. Bionic simply…
The U.S. property/casualty insurance segment’s net investment income hit a record $73.9 billion in 2023, bolstered by the higher interest rate environment, according to a new AM Best report. The Best’s Special Report, “U.S. P/C Insurers…
American International Group and a group of its excess and surplus lines subsidiaries have dropped claims against three former AIG executives who launched Dellwood Insurance Group but its claims against the E&S lines insurer live on. AIG…
Analysts with the AM Best financial rating firm and other stakeholders are cautiously optimistic about the resurrection of the Florida property insurance market, 18 months after state lawmakers approved monumental litigation reforms. That…
A Washington wage complaint investigation resulted in The Boeing Co. paying $11.5 million in unpaid wages to nearly 500 workers. The Washington State Department of Labor & Industries reports receiving four complaints in November 2022 from…
The Equal Employment Opportunity Commission (EEOC) is pursuing a case against an employer the agency says fired a new employee for not disclosing her low vision disability in her job interview. The Americans with Disabilities Act (ADA)…
A Connecticut Appeals Court has affirmed that an insurer is not obligated to provide actual notice of a home insurance nonrenewal; proof that the insurer sent the notice by registered or certified mail is sufficient. The homeowners claimed…
Researchers at Johns Hopkins University in Baltimore are assessing the country’s bridges to determine the likelihood of another disaster like the one that collapsed the Francis Scott Key Bridge. The team includes students and faculty…
Mark Pastorius joined Alliant Insurance Services as executive vice president, managing director within Alliant Specialty. Pastorius’ insurance career spans more than 37 years. Before joining Alliant, Pastorius was an executive vice…
Dozens of Oregon wineries and vineyards have sued PacifiCorp over the deadly 2020 wildfires that ravaged the state, alleging that the utility’s decision to not turn off power during the Labor Day windstorm contributed to blazes whose smoke…
Rising liability injury claims for home and auto owners that exceed traditional policy limits have spurred Mercury Insurance, headquartered in Los Angeles, to unveil an all-new personal umbrella insurance policy for Oklahomans that offers…
Miller, the London-based specialist re/insurance broker, announced the acquisition of Madrid-based commercial insurance and reinsurance broker Bruzon Correduría de Seguros y Reaseguros S.A. and its subsidiary Bruzon Services S.A., subject…
The FBI said it has dismantled what is likely the world’s largest botnet — an army of 19 million infected computers — that was leased to hackers for cybercrimes. The botnet, which was spread across more than 190 countries, enabled …
The U.S. Supreme Court has revived a claim by the National Rifle Association (NRA) that a former New York regulator allegedly violated the organization’s First Amendment rights by coercing insurers and banks to terminate their business…
Everest, the Bermuda-based specialty re/insurer, announced it has received regulatory approval to begin operating in Mexico. Trading as Compañía de Seguros Generales Everest México S.A. de C.V., the unit is headquartered in Mexico City and…
A strategy aimed at preventing Minnesota restaurants and bars from serving alcohol to patrons who are already intoxicated does not appear to be effective, according to a study recently published in Alcohol: Clinical and Experimental…
Nissan is urging the owners of about 84,000 older vehicles to stop driving them because their Takata air bag inflators have an increased risk of exploding in a crash and hurling dangerous metal fragments. Wednesday’s urgent request comes…
North Carolina Insurance Commissioner Mike Causey has scheduled a 2025 hearing date after rejecting the NC Rate Bureau’s request for an 83% average rate increase in mobile home fire policies and a 50% increase in mobile home casualty rates…
Clearwater-based CLC Insurance Agency has merged with ARCW Insurance, a Leavitt Group affiliate, the companies said in a news release this week. CLC, founded four years ago by Crystal Callahan Lawson, now Callahan-Estes, will relocate to…
Ireland’s High Court is to begin hearing a dispute around insurance claims for aircraft stuck in Russia on June 11, a week later than scheduled, after parties in the case asked for additional time to prepare, a court spokesman said …
BARNSLEY, Ky. (AP) — Devin Johnson’s life was uprooted for a second time when a tornado flattened his home over the Memorial Day weekend — on the same lot in Kentucky where another storm left him homeless in 2021. Johnson, …
HOUSTON (AP) — Strong storms with damaging winds and baseball-sized hail pummeled Texas on Tuesday, leaving one person dead and about 1 million businesses and homes without power as much of the U.S. recovered from severe weather, including…
Severe thunderstorms are set to sweep across Texas Panhandle, including Lubbock and Amarillo on Thursday. The risk will drop on Friday and Saturday but destructive systems will still be possible, the US Storm Prediction Center said. “A…
Property-catastrophe rates saw some moderating trends during the June 1 reinsurance renewals, with average risk-adjusted rates-on-line decreasing by 5% within a typical range of -7.5% to -2.5%, according to Howden Re, the reinsurance…
More than 32.7 million residential properties from Texas to Maine are at risk of moderate or severe damage sustained from hurricane-force winds, a new report shows. The large number of at-risk homes in CoreLogic’s 2024 Hurricane Risk…
A former executive assistant at One Equity Partners sued the private equity firm on Wednesday, claiming she was subjected to sexist and racist conduct and was fired for complaining about it. Dianna Toomey, an Arab American of Lebanese…
Ryan Specialty, headquartered in Chicago, promoted Derek Pouliot to chief reserving officer of Ryan Specialty Underwriting Managers (RSUM). In his expanded role, Pouliot is responsible for valuation of underwriting results for all business…