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INSURANCE NEWS
‘Am I out?’ Drought and Rising Costs From Iran War Deepen Pain for US Farmers
Scott Irlbeck crouched in a field of stunted wheat plants in a parched stretch of West Texas and slipped his hand into a crack wide enough to swallow it. Last autumn, Irlbeck planted a crop that barely grew because rain …
People Moves: Liberty Names Kooijman as GM, Insurance, Netherlands, Belgium, Nordics
Liberty Taps Kooijman as General Manager, Insurance, Netherlands, Belgium, Nordics Liberty Specialty Markets, part of Liberty Mutual Insurance Group, announced the appointment of Monique Kooijman as general manager for Netherlands, Belgium and the Nordics, subject to regulatory approval. Kooijman will …
Markets/Coverages: BHSI Offers New Casualty Insurance Policies in Switzerland
Berkshire Hathaway Specialty Insurance (BHSI) announced the launch of two new casualty insurance policies in Switzerland: one multinational and another for domestic risks, both tailored for large corporate and upper middle market commercial and industrial organizations in Switzerland. The new …
Barney Frank, Key Lawmaker During Financial Crisis, Dies at 86
Barney Frank, the quick-witted Democratic congressman who found himself on the front lines of the government’s rescue of the American financial system in 2007 and 2008, has died. He was 86. He died on Tuesday at his home in Ogunquit, …
Murdaugh Sues Clerk Whose Actions Led to Overturning His Murder Conviction
Alex Murdaugh has filed a lawsuit against the court clerk whose behavior during his murder trial led the South Carolina Supreme Court to overturn his convictions and life sentence for the deaths of his wife and son. The suit filed …
Iran Consolidating Control of Hormuz With Checkpoints, Vetting and Sometimes ‘Fees’
The tanker crew gathered their courage and carefully navigated along a route designated by Iran, hugging the coastline and maneuvering their hulking vessel between island checkpoints through the Strait of Hormuz. The 330-meter-long Agios Fanourios I, laden with Iraqi crude …
Arthur J. Gallagher’s RPS Acquires McKee Risk Management
Risk Placement Services, Inc. (RPS) reports it has acquired McKee Risk Management, Inc., a King of Prussia, Pennsylvania-based program administrator. Terms of the transaction were not disclosed. McKee Risk Management provides underwriting, policy administration, claims coordination and risk management services …
UPS Saw No Need for Changes After 2011 Boeing Defect Letter
A US safety investigator said United Parcel Service Inc. decided not to take further action after reviewing a 2011 service letter from Boeing Co. that flagged failures of a key structural component in the type of plane that later crashed …
Virginia Governor Vetoes Bill to Allow Class Actions
Virginia will remain as one of only two states where courts do not allow class actions. Gov. Abigail Spanberger, a Democrat, has vetoed a measure that would have initiated a procedure to allow class actions in state courts. The legislature …
Fears of Unfettered Hacking Spurred by Anthropic’s Mythos AI Model Overstated
Early fears that Anthropic’s new AI model, Mythos, could dramatically turbocharge hacking are looking overstated a month after its release. The company warned at launch in April that Mythos had uncovered thousands of software vulnerabilities — including flaws across every …
People Moves: Gallagher Appoints Practice Leaders From Assured Partners; Willis Makes Moves Across Corporate Risk & Broking North America Growth Leadership
Gallagher Appoints Practice Leaders From Assured Partners Gallagher is expanding its US retail brokerage capabilities with the appointment of the new practice leaders. Alush Garzon, managing director, manufacturing, brings extensive experience developing comprehensive risk management programs for manufacturers and has …
United Arab Emirates’ Image as Middle Eastern Haven Is Tested by Iran War
The United Arab Emirates for decades has advertised itself as a haven for international business in a Middle East awash in violent upheaval. Those waves have now crashed into this nation, testing its economic model like never before. The UAE, …
