After four years of unparalleled underwriting profitability ending in 2021, the property/casualty market is headed for a second straight year of underwriting losses, according to the newly released S&P Global Market Intelligence report. S&P’s “2023 U.S. P&C Insurance Market Report” …
CHICAGO (AP) – A tornado touched down Wednesday evening near Chicago’s O’Hare International Airport, prompting passengers to take shelter and disrupting hundreds of flights. There were no immediate reports of injuries. A confirmed tornado was on the ground around 7 …
MADISON, Wis. (AP) – A 16-year-old boy killed in an accident at a Wisconsin sawmill appears to have been doing work allowed by state child labor laws when he was injured, police records obtained Tuesday show. Michael Schuls was attempting …
LITTLE ROCK, Ark. (AP) – Medical marijuana sales in Arkansas are on track to set a new record this year, state officials said. From January through June, patients spent $141 million to buy a little more than 29,000 pounds of …
A top buyer of Russian oil is bracing for trading trouble as the price of Urals, the country’s main export grade, breaks through a $60-a-barrel cap set by Western nations to curb Moscow’s revenue. India and China have been the …
Remote work risks wiping $800 billion from the value of office buildings in major cities, highlighting the potential losses that landlords are facing from post-pandemic changes in employment trends. COVID-19’s push toward hybrid work has driven the need for office …
Mining giants BHP Group and Vale faced off in a London court on Wednesday over who should accept legal and financial responsibility in a potential 36 billion pound ($47 billion) lawsuit stemming from Brazil’s worst environmental disaster. Around 720,000 Brazilians …
This edition of International People Moves details appointments at Canopius and AXIS Capital Holdings. A summary of these new hires follows here. Canopius Taps Former AXA XL Exec Cooper as Head of Reinsurance & Bermuda CEO Canopius Group, a leading …
Floodwaters receded in Vermont cities and towns pummeled by a storm that delivered two months of rain in two days, allowing officials to focus on recovering from a disaster that trapped residents in homes, closed roadways and choked streets and …
Penske Truck Leasing Co. will pay up to a $3.5 million civil penalty for alleged fraudulent safety and emissions inspections on fleet trucks and trucks it rented for commercial use. According to Massachusetts Attorney General Andrea Joy Campbell, the settlement …