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INSURANCE NEWS
The Race to Rescue 8,000 Sailors Still Stranded Behind Hormuz
At anchor in the Persian Gulf, Abhijit Chopra found out about the US-Iran peace deal when his phone lit up with messages from family and friends. The captain of a crude oil tanker, he had to temper his excitement. There …
Ex-Michigan Police Lieutenant Pleads Guilty to Falsifying Salvage Vehicle Inspections
A former Lincoln Township, Michigan Police Department Detective Lieutenant has pled no contest to falsifying salvage vehicle inspections, announced Michigan Attorney General Dana Nessel. Johnathan Chase, 54, of Stevensville, pled to one count of Misconduct in Office and one count …
AM Best Revises Outlook to Positive for Louisiana Workers’ Compensation Corporation
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” (Excellent) of Louisiana Workers’ Compensation Corporation (LWCC), based in Baton …
Oklahoma-Based Homebuilder Sued for Pregnancy Discrimination
H.C. Employees, LLC doing business as Home Creations, a homebuilder operating in Oklahoma and Texas, violated federal law when it fired an employee because of her pregnancy, the U.S. Equal Employment Opportunity Commission (EEOC) charged in a lawsuit announced today. …
Texas Petrochemical Plants May Not be Ready for Fiercer Storms
Nearly two decades had passed since the storm. For many, the memory of what had happened on Goat Island had largely vanished into the Gulf of Mexico. Instead, what residents remembered that year were the piles of boats and cars …
People Moves: Alliant Hires Sorensen as EVP in Mergers & Acquisitions
Alliant Insurance Services has hired Justin Sorensen, ARM, as executive vice president within its mergers and acquisitions (M&A) vertical. Based in Chicago, Sorensen will deliver strategic risk and insurance solutions to a diverse, nationwide client base, drawing on his cross-disciplinary …
US Declines to Extend North American Trade Deal
The Trump administration on July 1 declined to extend the U.S.-Mexico-Canada Agreement, starting a decade-long clock to wind down the trade deal as it seeks changes to try to restore manufacturing jobs and reduce U.S. trade deficits with its North …
Big Tech’s Carbon Emissions Spike With Runaway Growth of AI
The greenhouse gas emissions of Amazon.com Inc. and Alphabet Inc.’s Google spiked in 2025, pointing to a growing problem for the hyperscalers: reconciling their climate goals with the massive amount of energy required to power AI, much of it still …
Cedents Find Competitive Market Conditions at Midyear Reinsurance Renewals: Brokers
Record levels of reinsurance capital and strong reinsurer profits are driving increasing reinsurer risk appetites and softening prices during the midyear renewals, according to reinsurance brokers in their respective market reports. “In the traditional property market, abundant reinsurer capacity continues …
New York City, Northeast Swelter in Hottest Day of the Year
New York City and the eastern US are set to swelter through the hottest day of the year so far, as a heat wave drives up power prices and strains electric grids. About 142.7 million people from Kansas to Maine …
Flood Re to Cut Insurance Payouts to Richest UK Households
The UK’s flood insurer of last resort is unfairly favoring wealthier households and will be reformed to reduce the burden of multimillion-pound payouts, the government said Wednesday. As part of the changes, Flood Re will lower the premiums it charges …
Bayer Fuels Break-Up Talk as Roundup Business Put Into Separate Unit
Bayer said on July 2 it was consolidating its U.S. Roundup business in a new unit, less than a week after scoring a major legal victory that blocked thousands of state-court lawsuits related to the weedkiller. The creation of the …
