Insurance

Debby, downgraded to a tropical storm Tuesday, is expected to bring as much as 25 inches of rain and more flooding to parts of the Carolinas this week, exacerbating uninsured flood damage but keeping wind losses within limits. Moody’s, a …

The Department of Energy on Tuesday announced $2.2 billion in funding for eight projects across 18 states to strengthen the electrical grid against increasing extreme weather, advance the transition to cleaner electricity and meet a growing demand for power. The …

The insurance industry is at a pivotal moment in embracing generative AI. According to the ISG Pulse Check State of the European Insurance Industry 2024, insurance firms are actively engaged in generative AI transformations and currently comprise nearly a quarter …

Microsoft Corp. said Delta Air Lines Inc. turned down repeated offers for assistance following last month’s catastrophic system outage, echoing claims by CrowdStrike Holdings Inc. in an increasingly contentious conflict between the carrier and its technology partners. Microsoft employees reached …

One child was killed and another was injured after a wind gust blew a bounce house into the air at a baseball game in Maryland last Friday night, local officials said. Local emergency personnel received a call in Waldorf, Maryland, …

Pine Walk Capital Ltd., the specialist managing general agency platform and wholly owned subsidiary of The Fidelis Partnership (TFP), announced the launch of Novagen, a renewables MGA. Novagen will focus on underwriting the full spectrum of renewable technologies (onshore, offshore, …

China Evergrande Group’s liquidators have launched court proceedings against PricewaterhouseCoopers LLP, another legal step to recover at least a fraction of creditors’ investments from the property giant. Lawyers of liquidators have started legal actions against PwC and PricewaterhouseCoopers Zhong Tian …

Norwegian salmon farmers face challenges from an unusually harsh winter and the El Nino climate phenomenon which led to record fish mortality and concerns over long-term forecasts ahead of a warmer summer. El Nino — a climate pattern raising temperatures …

Jargon often gets in the way of clearly understanding the climate challenge. While some technical terms such as “net zero” are useful and continue to gain wider acceptance, others aren’t so helpful. Take the phrase “hard to abate.” The simplest …

Fidelidade, an insurer controlled by Shanghai-based Fosun International Ltd., is weighing the sale and leaseback of a building in Lisbon that it plans to use as its new headquarters. The company will give up its current base near Lisbon’s Chiado …