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INSURANCE NEWS
Russia Shadow Fleet Undeterred by Starmer’s Threat as Ships Keep Crossing UK Waters
Prime Minister Keir Starmer’s decision last month to let the British military board ships of Russia’s so‑called “shadow fleet” has had no clear impact on the number passing through UK waters, a Reuters analysis shows. In the month after Starmer’s …
Data Center Boom Strains Texas Homebuilders’ Need for Electricians
Abilene builder Gene Lantrip is on the front lines of Texas’ population boom, but a new force is making it harder to finish construction on homes. Data centers are poaching the electricians he needs to install light switches and wiring …
New MGA Ascendri Aims For High-Value Homes in Catastrophe-Exposed Areas
Ascendri Insurance Services, a new managing general agency, has launched to address high-value risks in catastrophe-exposed markets. Starting in California, Ascendri will provide excess & surplus homeowners coverage for homes with insured values up to $10 million, targeting a segment …
Fast-Moving storms Batter the Midwest With Hail, Heavy Rain
Fast-moving storms pummeled parts of the Midwest with hail, strong wind and heavy rain Monday, flooding streets, stranding commuters and downing many trees, including one in western Michigan that landed on a man and killed him. More than 56 million …
AMA Says Research on Medical Liability Claims Shows ‘Broken’ System
New research studies from the American Medical Association (AMA) reveal many physicians face a significant risk of being sued during their careers. The ever-present risk of lawsuits—even when no error occurred—and high medical liability insurance premiums have contributed to a …
Bill to Extend Federal Terrorism Backstop Introduced in Senate Committee
A bipartisan effort is underway in the Senate with the introduction of a bill to extended the federal terrorism risk insurance program for seven years. A federal backstop for terrorism risk was first initiated late in 2002 by the Terrorism …
Purdue Pharma to Be Sentenced, Paving Way for Opioid Settlement
Purdue Pharma appeared in New Jersey federal court on Tuesday for sentencing on charges of deceiving government regulators and paying kickbacks to doctors to boost opioid sales. The sentencing will complete a plea deal that clears the way for the …
LaGuardia Controller Staffing on Night of Collision May Have Violated Rules
Air traffic controller staffing at LaGuardia airport on the night an Air Canada jet collided with a fire truck may have violated the facility’s procedures by combining roles before midnight, according to a document seen by Reuters. The crash at …
NJ Insurance Regulators Tell Lawmakers They Need Big Staff Increase
New Jersey’s insurance and banking regulators on Tuesday defended their push for a roughly 18% hike in their budget for the next fiscal year, a request that comes even as Gov. Mikie Sherrill has said she is seeking to close …
North Texas Tornadoes Leave 2 Dead and Destroy Multiple Homes
A tornado-producing thunderstorm left at least two people dead in northern Texas and displaced at least 20 families, with many homes sustaining major damage, authorities said Sunday. At least one person was killed and numerous homes were damaged Saturday night …
Dallas Hail, Tornado Threats Are Grounding Hundreds of Flights
A powerful band of thunderstorms threatening softball-sized hail, tornadoes and dangerous winds are menacing Dallas and the US South, grounding hundreds of flights and knocking out power to thousands. As of 3:45 p.m. local time, 278 flights were canceled at …
Georgia Blaze Shows How Climate Change Has Led to More Wildfires in the East
Often considered more a problem for Western North America, wildfires are becoming more intense, frequent and damaging in the East, such as this week’s blaze that destroyed dozens of homes in Georgia, fire scientists said. Researchers blame a number of …
