INSURANCE NEWS
Week-Long LA Warehouse Fire That Impacted Air Quality and Businesses Knocked Down
A fire near downtown Los Angeles that has affected the health of nearby residents and caused businesses economic harm for more than a week was knocked down Wednesday night, fire officials said. A fire at a 491,000-square-foot cold storage warehouse …
London Faces Huge Financial Cost Tied to Rising Heat, Mayor Says
London’s efforts to deal with rising temperatures come at a considerable financial cost that will require the city to turn to private investors for help, the mayor of the UK capital said. Instead of being a “future threat,” extreme heat …
Florida-Based Safepoint Withdraws IPO Just as it Was Expected to Launch
Florida-based Safepoint Holdings, parent company of Safepoint Insurance and Manatee Insurance Exchanged has filed to withdraw its initial public offering plans in the U.S., the Florida insurer said on Wednesday. The withdrawal comes even as the IPO market has picked …
Thousands Feared Dead After Two Major Earthquakes Hit Venezuela
Thousands of Venezuelans were feared dead on Thursday after two powerful earthquakes wreaked havoc in and around the capital Caracas, trapping people beneath the rubble of collapsed buildings and setting off powerful aftershocks. A magnitude 7.2 earthquake hit about 160 …
Guy Carpenter Combines UK Property and Casualty, London Europe Ops
Guy Carpenter, a business of Marsh, said it is uniting its UK Property and Casualty and London Europe teams under one leadership structure, effective at the start of 2027. Leon Janeke will lead the combined UK Property and Casualty and …
Massachusetts Concrete Firm Sentenced and Fined for Worker’s Death
A Massachusetts concrete company has been sentenced and fined in federal court in Boston for willfully violating federal Occupational Safety and Health Administration (OSHA) safety standards in a 2023 incident that led to a worker’s death. John Oliveira & Sons …
Heat Wave Breaks French and UK Records as Temperatures Soar
The heat wave baking western Europe smashed records in the UK and France, as the region faces another day of disruptive temperatures. The UK recorded its hottest June day on Wednesday, with daytime highs hitting 36.1C (97F) in Gosport in …
Hormuz Fees Branded ‘Unacceptable’ by Trump in Warning to Iran
President Donald Trump said tolls on ships sailing in the Strait of Hormuz would be a red line issue for the US in negotiations with Iran. Asked if he would reject a final Iran deal if it included any service …
Four Screwworm Cases Found on a Texas Farm in Biggest Batch Yet
The four most recent cases of the New World screwworm have been confirmed on the same Texas property, marking the largest cluster of detections to be reported since the parasite was found in the US earlier this month. Three cattle …
Google’s YouTube Settles Case Over Social Media Harm to Children
Google’s YouTube has settled a lawsuit brought by a minor who claimed the platform damaged his mental health, his lawyers said Tuesday, ahead of a second California trial over social media’s role in the youth mental health crisis. The terms …
SPAC Deals Seen as Key Path to Public Market in Data Center Boom
The rebound in blank-check companies is proving to be a useful route to public markets for companies involved in the artificial intelligence-data center build-out, said Betsy Cohen, a veteran of dealmaking in special purpose acquisition companies (SPAC). The Cohen Circle …
North Carolina Becomes First State to Pass Outright Ban on Litigation Financing
National insurance groups are hailing the signing of a new law in North Carolina, one that makes the state the first to place an outright ban on third-party funding of lawsuits. House Bill 315, signed by Gov. Josh Stein this …