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INSURANCE NEWS
No Sprinklers in TN Explosives Plant Building Where Blast Killed 16, Investigators Say
A building where explosives were manufactured in Tennessee was not outfitted with a sprinkler system or fire protection system before a massive explosion killed 16 workers in October, the U.S. Chemical Safety Board said this week. It’s not clear if …
AM Best Withdraws Credit Ratings of Texas’ Cadence Indemnity
AM Best has downgraded the Financial Strength Rating to B- (Fair) from B++ (Good) and the Long-Term Issuer Credit Rating to “bb-” (Fair) from “bbb+” (Good) of Texas-domiciled Cadence Indemnity Inc, a single parent captive of The Sullivan Brothers Family …
Iran War Potentially Raises Exposures for Terrorism, Political Violence Underwriters
The Iran war is likely to raise uncertainty in the global terrorism and political violence insurance markets, particularly in the United States and Europe, according to credit ratings agency Morningstar DBRS, in a commentary on the war, While the insurance …
People Moves: Clyde & Co Tabs Mortimer to Lead Indiana Office; Old Republic Announces Senior Management Changes at BITCO
Global law firm Clyde & Co has announced the opening of a new office in Highland, Indiana, expanding its US footprint and further strengthening its North American trial and defense practice. The new office will be led by Renee Mortimer, …
Amazon Delivery Service Company Settles Disability Discrimination Suit
ALM Freight, LLC, an Amazon delivery service company, agreed to pay $47,000 and LMDmax Corp., ALM’s employment agency, agreed to pay $60,000 to settle a disability discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency …
Florida Contractor Charged With Avoiding $1M in Workers’ Comp Premiums
Florida authorities have charged a contractor with underreporting payroll and avoiding more than $1 million in workers’ compensation insurance premiums. Jacques G. Denomme, of Port St. Lucie, was arrested in Martin County and released on bond earlier this month, after …
Markets/Coverages: Marsh Risk Launches for US Excess Casualty Capacity; CRC Specialty Enhances Insurisk to Meet Needs of Data Centers
Marsh Risk, a business of Marsh, announced the launch of BX1, a new Bermuda-domiciled insurance facility designed to provide US-based clients with an excess casualty insurance solution offering a unified block of $50 million capacity, placement certainty, and superior policy …
Florida Lawmakers Vote to Drop Building Permits on Projects of $7,500 or Less
Legislation that would have waived building permits for jobs valued at up to $7,500 failed to pass the Florida House this year, but the key clause found its way into another bill that is now awaiting the governor’s signature. “A …
Trump Again Vows to Block Wind Turbines During His Presidency
US President Donald Trump said he wanted to have no wind turbines built during his presidency, reiterating his distaste for the renewable energy source after his administration has made multiple moves to thwart its development. “I’m proudly telling you that …
US Home Insurance Prices Set to Keep Rising With Severe Weather
US home insurance premiums are set to rise for a fifth straight year in 2026 as insurers grapple with losses from extreme weather and high rebuilding costs. The average annual premium is projected to increase 4% to about $3,057 this …
Proscecutor Drops Charges Against Teen in Georgia Prank Gone Wrong
A Georgia prosecutor has decided to drop charges against a teenager who police say was driving the truck that struck and killed a beloved high school teacher when a prank turned deadly, the teen’s lawyer said. The victim’s family had …
Iran Warns Gulf Nations of Major Response After Gas Field Strike
ran warned countries around the Persian Gulf that a number of energy assets are now “legitimate targets” after Israel attacked its giant South Pars gas field, sending further shockwaves through oil and gas markets. Facilities in Qatar, Saudi Arabia and …
