Insurance
Global Property Catastrophe Rates-on-Line Down 6.6% During Renewals: Guy Carpenter
Guy Carpenter reports that average global and regional property catastrophe rates-on-line decreased during the January 2025 renewals in amounts ranging from 5.3% to 7.2%. Guy Carpenter defines rate on line (ROL) as the cost of reinsurance based on premium as …
Read More US Steel, Nippon Sue Biden Administration Over Decision to Block Merger
U.S. President Joe Biden violated the Constitution by blocking Nippon Steel’s $14.9 billion bid for U.S. Steel through a sham national security review, the companies alleged in a lawsuit they said was filed on Monday. The companies want the federal …
Read More Deadly Accident Has Hawaii Officials asking to End Amateur Fireworks Shows
In recent years, occasions large and small — parties, Super Bowls, mixed martial arts fights, even Thanksgiving — have provided a reason for residents across Hawaii to set off illegal fireworks. The increasingly sophisticated displays, loved by some and loathed …
Read More Russia-Appointed Officials in Crimea Declare Emergency as Oil Spill Reaches Sevastopol
Russia-appointed officials in Moscow-occupied Crimea announced a regional emergency on Saturday, as oil was detected on the shores of Sevastopol, the peninsula’s largest city. Fuel oil spilled out of two storm-stricken tankers nearly three weeks ago in the Kerch Strait, …
Read More Taiwan Says Chinese Ship Broke Subsea Cable in Alleged Sabotage
Taiwan suspects a Chinese-owned cargo vessel damaged an undersea cable near its northeastern coast Friday, in an alleged act of sabotage that highlights the vulnerabilities of Taipei’s offshore communications infrastructure. The ship is owned by a Hong Kong-registered company whose …
Read More The Institutes, Kevelighan Fire Back at Retaliation Claims by Former Triple-I Employee
The Institutes and Sean Kevelighan, chief executive of the Insurance Information Institute, deny the allegations of discrimination and retaliation from former employee Michael Barry. According to a filing in U.S. District Court for the Southern District of New York, Triple-I …
Read More Arthur J. Gallagher & Co. Acquires Canadian Broker Encore Group
Arthur J. Gallagher & Co., the Rolling Meadows, Illinois-based insurance brokerage, announced the acquisition of Waterloo, Ontario-based Encore Insurance Services Inc., dba Encore Group. Terms of the transaction were not disclosed. Encore Group is a retail insurance brokerage firm serving …
Read More Severe Winter Storm Batters Nation’s Capital and Metro Region
The nation’s capital and surrounding areas are experiencing he effects of a severe winter storm as part of a storm that has moved from parts of the Ohio Valley through to the Mid-Atlantic. The storm is producing moderate to heavy …
Read More New NC Governor Issues Orders to Speed Housing Work After Helene
ASHEVILLE, N.C. (AP) — New North Carolina Gov. Josh Stein took several actions on Thursday to help the short- and long-term recovery from Hurricane Helene, with an immediate focus on more temporary housing and repairs to private bridges and roads. …
Read More US Chamber, Oil Firms Sue Vermont for Making Companies Pay for Climate Damage
The U.S. Chamber of Commerce and a top oil and gas industry trade group are suing Vermont over its new law requiring that fossil fuel companies pay a share of the damage caused over several decades by climate change. The …
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