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INSURANCE NEWS
Iran Has Likely Begun Laying Mines in Hormuz, UK Minister Says
It’s becoming increasingly evident that Iran is laying mines in the Strait of Hormuz, according to the UK, as Iran’s new supreme leader used his first comments to the media to say the critical waterway should stay closed. “The reports …
Lilly Flags Safety Risk in Compounded Zepbound Mixed With Vitamin B12
Eli Lilly & Co. warned that the active ingredient in its weight-loss blockbuster Zepbound could pose a risk to patients when mixed with vitamin B12, a combination sold by US drug compounders. Lilly tested compounded products and found “significant levels …
NC Insurance Agent Posts Statement After Arrest on Embezzlement Charges
A North Carolina insurance agent is out on bond, awaiting court action, after he was charged with diverting premium payments from four automobile dealerships. Jeffrey Martin Webster, of Jamestown, North Carolina, was charged with 18 counts, including forgery and embezzlement …
Markets/Coverages: Marsh Risk, Apollo Develop Insurance Facility for Uber
Marsh Risk, a business of Marsh, and specialty insurer Apollo’s ibott division announced the launch of an insurance facility for Uber. According to the companies, the facility is the first of its kind and will “accelerate the deployment of autonomous …
Coast Guard Rescues 3 Fishermen Whose Ship Sank in Maine’s Boothbay Harbor
The U.S. Coast Guard rescued three people from the water approximately 23 miles south of Boothbay Harbor in Maine on Wednesday morning. The Coast Guard Station Boothbay Harbor crew reported they located the vessel at 9:01 a.m. and rescued three …
Mississippi Jury Acquits Engineer Charged With Lying About 2017 Plane Crash
A jury has acquitted a former engineer overseeing military aircraft maintenance of charges of making false statements and obstructing justice during the criminal investigation of a 2017 military plane crash in Mississippi that killed all 16 service members aboard. James …
WTW: US Commercial Insurance Rates Moderate to 2.9% in Q4 2025
U.S. commercial insurance rates increased 2.9% in the fourth quarter of 2025, according to the latest WTW Commercial Lines Insurance Pricing Survey (CLIPS). “Commercial insurance pricing continued to moderate in the fourth quarter, reflecting a more stable market,” said Yi …
World Faces Largest-Ever Oil Supply Disruption on Middle East War, IEA Says
The war in the Middle East is creating the biggest oil supply disruption in history, the International Energy Agency said on Thursday, a day after it agreed to release a record volume from strategic stockpiles to offset shortages and a …
Officials Declare Barge Fire in Delaware Bay Under Control
The U.S. Coast Guard and the states of Delaware and New Jersey on Wednesday declared the barge fire in Delaware Bay under control. No injuries were reported for the incident. The barge was carrying salvage metal at the time of …
People Moves: Andover Cos. Names Nadeau, Duchette; Plymouth Rock Appoints Seaborn
The Andover Companies Names Nadeau SVP and CUO, Duchette SVP and CUO The Andover Companies, headquartered in Andover, Massachusetts, appointed Paul Nadeau as senior executive vice president and chief operating officer and Patrick Duchette as senior vice president and chief …
Natural Gas Boom Will Spur a Shortage of US Fracking Gear, Shale Boss Says
Rising US natural gas exports and soaring domestic demand for the power-plant fuel will lead to a shortage of fracking gear later this decade, according to the head of one the country’s top drilling contractors. Activity in US shale fields …
Warburg Pincus Is Said to Explore Options for Asian Insurer Oona
Warburg Pincus is considering options for Oona Insurance that might lead to a sale, according to people familiar with the matter, after receiving interest from other insurers and investment firms. The US private equity firm is working with Citigroup Inc. …
