Fitch Ratings said reinsurers are likely to push for double-digit U.S. casualty rate increases during January renewals to keep up with loss trends from social inflation. The rating agency in a new report changed its outlook of the global reinsurance …
Todd Jackson, owner and partner of McGowan Insurance Group, has been named chairman of the Independent Insurance Agents & Brokers of America (the Big “I”). Jackson was installed as the 2024-2025 chairman of the industry group at its fall conference …
Losses from Hurricane Francine are expected to be manageable for property/casualty insurers, with major population centers sparred from the worst of the storm’s damage. Privately insured loss from Hurricane Francine are estimated to be close to $1.5 billion, catastrophe modeler …
California Insurance Commissioner Ricardo Lara has identified areas in the vicinity of the several ongoing large wildfires in the state that will be protected by a one-year moratorium on homeowners insurance non-renewal or cancellation due to wildfire risk. Lara’s action …
Yemen’s Houthi militants said they’ll let tugboats tow away an oil tanker that they attacked last week in the Red Sea, a step that might to help avert an environmental disaster. The 900-foot Sounion was hauling 150,000 tons of dense …
The European Union’s mission in the Red Sea said on Wednesday there was no oil spill in the waters near the Greek-flagged tanker hit by a fiery Houthi militant attack off Yemen’s coast. The mission, called Aspides, added that the …
The Romanian government plans to approve an insurance system for agricultural land as part of a series of measures to help farmers whose crops have been ravaged by drought, Agriculture Minister Florin Barbu said on Wednesday. Romania is among the …
COLUMBIA, Mo. (AP) — Federal appellate judges overturned a Missouri law Monday that banned police from enforcing some federal gun laws. The 8th U.S. Circuit Court of Appeals found the Missouri law violated a section of the U.S. Constitution known …
Fermat Capital Management, one of the world’s biggest investors in catastrophe bonds, says anxiety about this year’s hurricane season has already left a meaningful dent on returns. “Returns in May were low and even negative for a lot of funds,” …
The captain of a superyacht that sank during a storm off Sicily last week, killing seven people, decided not to respond to prosecutors’ questions Tuesday, his lawyer said. James Cutfield, a 51-year-old New Zealand national, is under investigation for possible …