INSURANCE NEWS

Toxic Gas-Emitting Plants Get Pollution Reprieve Under Trump

After teacher Janet Rau learned that a carcinogenic gas was being released from an industrial plant near her school in 2019, she started a campaign for more oversight. Five years later, the Environmental Protection Agency issued rules requiring facilities that …
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Maryland Secures $2.2 Million Lead Paint Settlement From Tower Owner and Contractor

The owner of a Baltimore broadcast tower and its painting contractor will pay $2.2 million to the state of Maryland for allowing lead paint chips and debris to spread across surrounding neighborhoods, contaminating parks, playground, and daycares. Attorney General Anthony …
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Sanctioned Russian Oil Ships Using Fake Insurance, Ukraine Says

A number of Russian shadow fleet tankers are transporting oil with insurance certificates from a company that doesn’t exist as it’s described in the documents, according to an intelligence assessment from Ukraine. Seaguard P&I, based in Pinneburg, Germany provided an …
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Zantac Suits Tossed by Delaware Judge for Flawed Cancer Link

A Delaware judge threw out lawsuits seeking to link the heartburn drug Zantac to cancer, freeing makers of the product from facing trials in the state over the cases. Superior Court Judge Francis “Pete” Jones concluded Monday lawyers for ex-Zantac …
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US and Iran Weigh Truce Extension With Hormuz Still Shuttered

The US and Iran are considering a two-week ceasefire extension to allow more time to negotiate a peace deal, according to a person familiar with the matter, reducing the risk of renewed fighting despite an intensifying standoff over the Strait …
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Sweden Sees Russia Intensifying Cyber Attacks on Infrastructure

Russia’s intelligence services are now seeking to damage European infrastructure with cyber attacks rather than merely overwhelm websites with excess traffic, Swedish Civil Defense Minister Carl-Oskar Bohlin said. “Over the past year, Russia’s methods have shifted,” Bohlin said during a …
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ECB to Quiz Bankers About Risks of Anthropic’s New AI Model, Source Says

European Central Bank supervisors are set to quiz bankers about the risks that Anthropic’s new artificial intelligence model might supercharge cyberattacks, one source familiar with the situation told Reuters on Wednesday. Anthropic’s Mythos is seen by cybersecurity experts as posing …
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Africa Trade Insurer Seeks $500 million to Help With Iran War Cost Increase

Africa’s leading multilateral insurer of trade risk is seeking around $500 million in capital from partners to support countries that face higher costs as a result of conflict in the Middle East, its chief executive told Reuters. African Trade & …
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Helvetia Baloise Set to Return $3.6 Billion to Investors to 2028

Helvetia Baloise Holding AG said it aims to return some 2.8 billion Swiss francs ($3.6 billion) to investors over the period to 2028, as the newly-merged insurer sets financial targets for the first time. The company proposed a dividend of …
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Aon Expands Data Center Lifecycle Insurance Program Capacity to $3.5B

Aon plc is expanding its proprietary Data Center Lifecycle Insurance Program (DCLP) with an additional $1 billion, increasing the program’s capacity to $3.5 billion. In addition, coverage will extend to include existing data centers coming off the first year of …
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People Moves: Former Verisk CEO Stephenson Joins ZestyAI Board of Directors; WTW Appoints Li to North America PPCU Consulting Team

Scott Stephenson, former chairman, president, and CEO of Verisk Analytics, joined the board of directors at ZestyAI, a San Francisco, California-based risk and decision intelligence platform for the insurance industry. Stephenson spent more than two decades at Verisk, including nine …
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With Falling Private Re Prices, Should Florida Let Insurers Buy Less from the Cat Fund?

For years, a segment of the Florida property insurance industry had lobbied for more access to the lower-cost reinsurance offered by the state-sanctioned Florida Hurricane Catastrophe Fund—mainly through a lowered retention, or deductible, level. Today, three years into Florida’s tort-reform …
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