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INSURANCE NEWS
One of World’s Largest Energy Storage Plants Launches in South Dakota
This small city in rural northeastern South Dakota has established itself as an energy hub for the entire Great Plains region, and that reputation has received a big boost by landing what will be among the world’s largest energy storage …
Markets/Coverages: MGA Rokstone Launches Cargo Stock-Only Cover for Inventory Risk
Rokstone, the international specialty re/insurance MGA, announced the launch of a cargo stock-only program, supported by US$25 million of capacity, to support brokers and their clients with smarter, more flexible coverage and competitive premiums. One of just a handful of …
AM Best Revises Outlooks to Stable for Missouri Valley Mutual
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Missouri Valley Mutual Insurance Company (MVMIC) based in Burke, South Dakota. …
Texas Summer Camps Face Closure Due to New State Regulations
After almost 20 years of bouncing from campground to campground, Orr Family Ministries finally found its home in 2022 on a 12-acre tree-filled campground located on a hill in Colorado County. Kids played in the swimming pool, worshipped by the …
Iran in Talks With Oman Over Permanent Toll System for Hormuz
Iran is discussing with Oman how to set up some form of a permanent toll system that will formalize its control of maritime traffic through the Strait of Hormuz. “Iran and Oman must mobilize all their resources both to provide …
Texans Hate Data Centers So Much They Are Asking Jesus for Help
In Granbury, Texas, city council meetings begin with a prayer. But at a session back in January, one local invoked the Almighty in a way that would have been unimaginable just a decade ago. “I want to pray in Jesus’ …
WTW Sues Former Yacht Team, Howden US Over Defection
Howden US is again being sued by a rival broker over another group of new employees who are alleged to have breached loyalty and post-employment contractual obligations. According to a lawsuit filed May 19 in U.S. District Court for the …
Trump to Sign Order on AI Oversight as Security Fears Mount Among Supporters
U.S. President Donald Trump is expected to sign an executive order on AI and cybersecurity as soon as Thursday, two sources familiar with the matter told Reuters, as pressure grows from parts of his political base to increase oversight of …
US P/C Industry Underlying Growth Expected to Slow in 2026
The U.S. property/casualty insurance industry is expected to see underlying growth decrease 3.7% for the first half of 2026 as it deals with economic uncertainty. The industry grew 1.6% in 2025, but a report from the Insurance Information Institute (Triple-I) …
Maine High Court Upholds Claims Settlement, Case Dismissal Over Insured’s Objection
A court was right to acknowledge an insurance company’s settlement of a claim and dismiss the lawsuit against its insured without the insured’s approval, the Maine Supreme Judicial Court has ruled. The insured, Patrick O’Brien, objected to the settlement and …
Containment Grows on California Wildfire That Forced Thousands to Evacuate
Containment has continued to increase on the Sandy fire in Simi Valley, which prompted evacuation orders for tens of thousands of people in Ventura County earlier this week. Though fire activity has slowed, the blaze still poses danger, fire officials …
War Overtakes Civil Unrest as Top Political Violence Exposure for Global Businesses
War has overtaken civil unrest as the political violence exposure that companies fear most, as conflicts in Europe and the Middle East disrupt global trade flows, strain political alliances, embolden adversarial powers and heighten risks to business assets, according to …
