Insurance
U.S. Seeks to Restore Safety Rules Sparked by Gulf Oil Spill
The Biden administration on Monday proposed offshore drilling safety measures that it said would help prevent oil spills and protect workers and the environment. The proposal aims to restore safety provisions put in place by the Obama administration in 2016 …
Read More Property Catastrophe Reinsurance Entering a True Hard Market
Uncertain times are challenging for reinsurers. Claims may jump, and investment losses may dent profitability and possibly capital. However, uncertain times can also be good for reinsurers. Demand for reinsurance protection is high, competitive pressures are easing, and pricing power …
Read More Bezos’ Blue Origin Suffers Rocket Failure During Uncrewed Mission
A rocket from Jeff Bezos’ space company Blue Origin failed mid-flight shortly after liftoff on Monday, aborting its cargo capsule to safety before crashing into the Texas desert, according to the company and a live video stream of the mission. …
Read More Climate Change is Overwhelming U.S. Flood Maps, FEMA Says
Flood maps used by the Federal Emergency Management Agency are out of date and understate the risks to homes and businesses from flooding and extreme rain triggered by climate change, FEMA Director Deanne Criswell said. Those risks are in focus …
Read More Lender, Builder to Settle Wetlands Lawsuit over St. Simons Island in Georgia
A construction company and mortgage lender accused of damaging wetlands on a famous Georgia island have agreed to settle a federal lawsuit brought by landowners. The site of the controversy is on picturesque St. Simon’s Island, which gained attention when …
Read More Man Burned at Minnesota Brewery to Receive $56 Million
A St. Paul man who was severely scalded by hot water while working at a local brewery is due to receive $56 million in damages and interest after filing a lawsuit six years ago. A Ramsey County jury awarded DeWarren …
Read More State Agency to Assess Flood Damage in 3 SE Indiana Counties
Officials in three southeastern Indiana counties have declared local disasters following flash flooding last weekend that killed one woman and damaged numerous homes and roads. Staffers with the Indiana Department of Homeland Security will now visit Ohio, Jefferson and Switzerland …
Read More Investigators: Pilot Error, Overloading Caused Michigan Plane Crash That Killed 5
Federal investigators blame pilot error and an overloaded aircraft for a 2019 plane crash near a Michigan airport that killed five Indiana men and seriously injured a sixth person aboard. The National Transportation Safety Board said in its final report …
Read More Texas, the Netherlands Form Partnership Against Flooding
A visit to Houston last week by the Dutch queen highlighted a long friendship between Texas and the Netherlands that grew from their fight against a mutual enemy: flooding. While meeting with Houston’s mayor, Queen Maxima learned how the Netherlands …
Read More Conner Strong & Buckelew Acquires Pennsylvania’s Armstrong, Doyle & Carroll
Camden, New Jersey-based insurance brokerage Conner Strong & Buckelew has acquired Wayne, Pennsylvania-based brokerage firm, Armstrong, Doyle & Carroll. In business since the 1950s, Armstrong, Doyle & Carroll is a privately held firm specializing in managing national and local benefit …
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