INSURANCE NEWS
Brookfield’s $200 Billion Credit Group Seeks to Lure Insurers
Brookfield Asset Management’s newly formed credit arm will cater to its parent’s insurance business and will also pitch other insurers on overseeing their assets, the unit’s chief executive officer says. “What we’ve decided to do is bring all of our …
Bird Flu Found in Michigan, Idaho Cows as Virus Spreads in US
Highly pathogenic avian influenza has been discovered in dairy herds in Michigan and Idaho, indicating the virus is spreading into new US states. The National Veterinary Services Laboratories has confirmed the presence of bird flu in a Michigan herd that …
Rescue Crew Navigate Drones and Fire to Salvage Houthi-Hit Ship
A salvage crew climbing up a fire-ravaged ship lined with barbed wire. A French naval vessel fighting off combat drones. And seafarers navigating through the looming risks of encountering Somali pirates. These are scenes from a perilous mission that began …
11-Year-Old Killed While Trying to Park Snowmobile in Garage
An 11-year-old Maine boy crashed a snowmobile and was killed while attempting to park in his family’s garage in Chapman, game wardens said Tuesday. The boy, who was not wearing a helmet, sped across a field and crashed into a …
Kentucky Senate Votes to Expand Family Leave as Insurance Product
FRANKFORT, Ky. (AP) — A bipartisan bill aimed at expanding access to paid family leave won final passage Thursday as Kentucky’s legislature shifted into overdrive before a two-week break. The Senate voted 36-0 to send the family leave legislation to …
US Home Insurance Premiums May Hit a Record This Year, Report Warns
US home insurance rates are expected to reach a record high this year, with the biggest increases occurring in states prone to severe weather events, according to a new analysis. The average premium for homeowners insurance in the US is …
Massachusetts Lawmakers Advance ‘Hot Work’ Oversiight Bill
A decade after two firefighters died when they became trapped in a brownstone in Boston’s historic Back Bay neighborhood by a fire caused by sparks from welders working next door, the Massachusetts Senate passed a bill Thursday aimed at toughening …
US Finalizes New Tailpipe Emissions Limits for Heavy Duty Vehicles
The U.S. government said on Friday it was finalizing tighter tailpipe emissions standards for heavy duty vehicles like semi-trucks and buses, but the new rules would not be as strict as initially proposed in 2023. The Environmental Protection Agency (EPA) …
Other Major US Bridge Collapses Caused by Ships and Barges
A container ship struck a major bridge in Baltimore early Tuesday, [March 26] causing it to plunge into the river below. From 1960 to 2015, there were 35 major bridge collapses worldwide due to ship or barge collision, with a …
Baltimore Ship Accident Has East Coast Ports Scrambling to Absorb Cargo
Ports along the US East Coast are modifying their operations to absorb cargo diverted from Baltimore harbor, where salvage specialists are starting the daunting task of clearing debris from the destroyed Francis Scott Key Bridge. The Port of Virginia, with …
Viewpoint: AI Is Changing the Cyber Risk Landscape
Innovation is at the heart of the human experience, with a constant stream of new ideas and inventions changing the way we conduct business. But seismic shifts in technology don’t come all at once, or even at a steady pace—they …
AM Best Downgrades Ratings of State Farm General
Roughly a week after State Farm announced that it would nonrenew tens of thousands of homeowners and commercial apartment policies in California, AM Best has downgraded the company that offered those policies. Last week, State Farm cited its responsibility to …