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INSURANCE NEWS
Typhoon Season in Northwest Pacific Seen Most Active in a Decade
Typhoon activity in the Northwest Pacific Ocean is expected to be the highest this year since 2015, according to commercial forecaster Tropical Storm Risk. The projection for 2026 is 25% above the historical average, driven by an emerging El Niño …
Supply-Chain Stress That Peaked in COVID Heads Higher Again
The impact of the energy crisis on the global economy in recent months is showing up in gauges of supply-chain stress that flashed red during the pandemic, adding to reasons for central banks to be on guard for a recurrence …
WBN Survey: Global Business Leaders Shift Risk Strategy With Insurance
Global organization are moving from risk mitigation to a risk-led strategy as business leaders shift their approach to risk, influenced by geopolitical instability, economic uncertainty, and technological disruption. According to Worldwide Broker Network’s (WBN) “New Risk Reality Report,” resilience has …
Inszone Acquires Arkansas’ Smith & Company Insurance
Inszone Insurance Services announced the acquisition of Smith & Company Insurance, Inc. This strategic acquisition brings an agency with roots dating back to 1904 into the Inszone organization, continuing to strengthen its footprint across the state of Arkansas. With its …
PayPal to Waive $30M in Fees to Settle DOJ Probe of Minority Business Program
The U.S. Department of Justice said on Tuesday it had reached a settlement with PayPal to resolve an investigation into a 2020 investment program that the department described as giving “unlawful” preferences to Black and minority-owned businesses. Under the settlement, …
Viewpoint: Why a Quieter Hurricane Season Doesn’t Mean Lower Risk
The 2026 Atlantic hurricane season is projected to be quieter than many of the hyperactive years that preceded it. Six of the past seven seasons produced above-average Atlantic activity, including the record-setting 2020 season, which had 30 named storms. But …
Canvas’ Parent Company Reaches Agreement With Hacking Group Behind Breach
The hacking group that targeted the Canvas educational tool and the parent company that owns the software struck a deal to secure stolen student and school data, the company said in a statement late Monday. In a statement posted to …
Maryland Announces $2.5 Billion Settlement Over Baltimore Bridge Collapse
The state of Maryland has finalized a $2.5 billion settlement with Grace Ocean Private Limited and Synergy Marine Pte Ltd., the owner and operator of the cargo ship Dali, over the ship’s March 26, 2024 allision that caused the collapse …
Illinois Company Sued Over Alleged Home Repair Scam
Illinois Attorney General Kwame Raoul filed a lawsuit against B.E.S.T. GDR LLC, doing business as Premium Home Service, and its Chief Executive Officer Yosef Bernath, alleging the business created thousands of online business profiles for home repair companies that did …
People Moves: Brown & Riding Adds Armstrong to Private Client Practice
Brown & Riding announced Susannah Armstrong to its private client practice within the firm’s underwriting & select accounts division, specializing in high-net-worth personal lines. With over 10 years of industry experience across sales, service, and marketing in the insurance space, …
People Moves: RT Specialty Names Jacob as President of RT Connector
RT Specialty, the wholesale brokerage division of Ryan Specialty, announced that it has promoted Will Jacob to president, RT Connector, effective immediately. Jacob is based in Chicago. Jacob has been with Ryan Specialty for nearly 10 years and was most …
US Brings Criminal Charges Over Collapse of Baltimore Bridge
The U.S. government has filed charges against two Singapore firms and an Indian ship superintendent for criminal conspiracy and obstruction relating to the crash of the cargo ship Dali that caused Baltimore’s Key bridge to collapse in March 2024, killing …
