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INSURANCE NEWS
Rio Grande Valley Farmers are Bracing for Severe Drought
Texas heat can be relentless. For much of the year, farmers and ranchers were preparing for a tough summer of drought. As of Monday, nearly 50% of the state was experiencing some level of drought conditions according to the U.S. …
Israel Kills Eight in Strike on Lebanon; US Rescues Helicopter Crew From Hormuz
Israel struck the historic port city of Tyre in southern Lebanon on Tuesday, killing at least eight people, in an escalation that adds strain to efforts to broker a peace deal to end the wider Middle East war. On Monday, …
Texas Governor Vows Sped Up Construction of Screwworm Fly Breeding Facility
Texas Gov. Greg Abbott expressed concern last week that a new factory isn’t expected to start breeding sterile New World screwworm flies for more than a year as a big part of the effort to stop its flesh-eating larvae from …
NFP Acquires Kansas’ Signature Personal Insurance
NFP, an Aon company and leading property and casualty (P&C) broker and benefits consultant, announced the acquisition of certain assets of Signature Personal Insurance, LLC (SPI), a Greater Kansas City, Kansas-based independent personal lines agency specializing in high-net-worth clients. Roper …
Company Ordered to Pay $500K Fine for Violating Asbestos Regulations in Michigan
Applied Partners LLC was sentenced to pay a $500,000 fine and complete a two-year term of probation for the company’s illegal handling of regulated asbestos containing material (RACM) at a site in Saginaw, Michigan. The company had previously pleaded guilty …
Chinese Hackers Pose Biggest Espionage Threat to Tech Firms, CrowdStrike Says
China-linked hackers posed the biggest espionage threat to technology companies over the past year, CrowdStrike, a cybersecurity firm, said in a report published on June 9, amid surging investment in artificial intelligence. The hacking campaigns align with the Chinese government’s …
Earthquake Off Cuba Felt Across South Florida
People across south Florida reported feeling a 6.1-magnitude earthquake centered off the western tip of Cuba on Monday, a reminder that the region may have more than hurricane losses to think about. No injuries or damage were reported, but residents …
India’s Ship Certifier Takes Tougher Stance on Sanctioned Tankers
India’s ship safety certifier is taking a tougher stance on vessels involved in evading international trade sanctions, by canceling the certification of more than 200 tankers and other ships since 2023, the head of the agency told Reuters. The Indian …
Judge Scraps Trump Policy Restricting Wind, Solar Tax Breaks
A U.S. judge vacated a Trump administration policy implemented last year that made it harder for wind and solar energy projects to claim federal tax subsidies, according to court documents. The decision is the latest legal blow to U.S. President …
USAA Not Done With Dividends: Florida Reforms Prompt $500M Payout
When USAA announced nearly $4 billion in policyholder dividends in December last year, the military insurer cited its financial discipline and the proactive steps of members to prevent losses among reasons for the payout. This week, USAA announced another forthcoming …
Rescue Efforts Underway as Philippine Quake Death Toll Hits 37
The death toll from the strongest earthquake to hit the Philippines in five decades has increased to 37, an official said, with rescue operations underway as families and businesses grapple with huge damage to properties. Office of Civil Defense Assistant …
PG&E Could Cut Power in 8 California Counties Due to Winds, Fire Danger
Pacific Gas and Electric Co. may cut power in parts of eight counties in California this week due to risks that its equipment could cause wildfires. The utility on Monday warned that some parts of Colusa, Glenn, Lake, Napa, Sonoma, …