INSURANCE NEWS
AM Best Revises Outlook to Positive for Louisiana Workers’ Compensation Corporation
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” (Excellent) of Louisiana Workers’ Compensation Corporation (LWCC), based in Baton …
Oklahoma-Based Homebuilder Sued for Pregnancy Discrimination
H.C. Employees, LLC doing business as Home Creations, a homebuilder operating in Oklahoma and Texas, violated federal law when it fired an employee because of her pregnancy, the U.S. Equal Employment Opportunity Commission (EEOC) charged in a lawsuit announced today. …
Texas Petrochemical Plants May Not be Ready for Fiercer Storms
Nearly two decades had passed since the storm. For many, the memory of what had happened on Goat Island had largely vanished into the Gulf of Mexico. Instead, what residents remembered that year were the piles of boats and cars …
People Moves: Alliant Hires Sorensen as EVP in Mergers & Acquisitions
Alliant Insurance Services has hired Justin Sorensen, ARM, as executive vice president within its mergers and acquisitions (M&A) vertical. Based in Chicago, Sorensen will deliver strategic risk and insurance solutions to a diverse, nationwide client base, drawing on his cross-disciplinary …
US Declines to Extend North American Trade Deal
The Trump administration on July 1 declined to extend the U.S.-Mexico-Canada Agreement, starting a decade-long clock to wind down the trade deal as it seeks changes to try to restore manufacturing jobs and reduce U.S. trade deficits with its North …
Big Tech’s Carbon Emissions Spike With Runaway Growth of AI
The greenhouse gas emissions of Amazon.com Inc. and Alphabet Inc.’s Google spiked in 2025, pointing to a growing problem for the hyperscalers: reconciling their climate goals with the massive amount of energy required to power AI, much of it still …
Cedents Find Competitive Market Conditions at Midyear Reinsurance Renewals: Brokers
Record levels of reinsurance capital and strong reinsurer profits are driving increasing reinsurer risk appetites and softening prices during the midyear renewals, according to reinsurance brokers in their respective market reports. “In the traditional property market, abundant reinsurer capacity continues …
New York City, Northeast Swelter in Hottest Day of the Year
New York City and the eastern US are set to swelter through the hottest day of the year so far, as a heat wave drives up power prices and strains electric grids. About 142.7 million people from Kansas to Maine …
Flood Re to Cut Insurance Payouts to Richest UK Households
The UK’s flood insurer of last resort is unfairly favoring wealthier households and will be reformed to reduce the burden of multimillion-pound payouts, the government said Wednesday. As part of the changes, Flood Re will lower the premiums it charges …
Bayer Fuels Break-Up Talk as Roundup Business Put Into Separate Unit
Bayer said on July 2 it was consolidating its U.S. Roundup business in a new unit, less than a week after scoring a major legal victory that blocked thousands of state-court lawsuits related to the weedkiller. The creation of the …
Germany Charges Former Ukrainian Army Officer With Nord Stream Pipeline Attack
German federal prosecutors have charged a former Ukrainian army officer with being the co-perpetrator of a war crime over the 2022 Nord Stream gas pipeline blasts, accusing him of acting on behalf of Ukrainian state entities. Prosecutors said on Thursday …
Popular 14th Street DC Restaurant Settles Wage and Hour Violation Charges
A popular District of Columbia restaurant and nightclub will pay $243,350 to settle charges that it harmed employees by violating wage and hours laws. D.C. accused the company of denying employees sick leave pay, misclassifying workers as independent contractors, and …