Connecticut lawmakers are considering imposing a surcharge on property/casualty insurers’ premiums from the fossil fuel industry. The proposal (SB-1115) calls for a tax of 5% of any property/casualty premiums any insurer licensed in the state receives from fossil fuel companies …

Climate change is already having a major economic and financial impact on the United States and may trigger asset value losses in coming years that could cascade through the U.S. financial system, Treasury Secretary Janet Yellen will warn on Tuesday. …

Rancho Cucamonga, California-based Aspire General Insurance Co. is expanding into the Arizona marketplace. According to Tyler Nicholson, vice president of marketing at Aspire General, the move into Arizona is the first state in an aggressive state expansion plan. Aspire General …

Swiss Re has closed a US$700 million multi-year stop-loss transaction with funding led by J.P. Morgan. The financing builds upon an innovative hybrid transaction concluded with J.P. Morgan in April 2022, which was the first of its kind to combine …

The Confederation of British Industry said on Monday that its director-general, Tony Danker, had stepped aside while the employer body conducted a review into his behavior. The CBI said it had already conducted an internal investigation into Danker’s workplace behavior …

Verlingue Ltd., the UK chartered insurance broker, has established a dedicated media practice under plans to expand its presence in the fast-growing independent media sector. The team, headed up by Maia Olesen, client director, will focus on independent advertising agencies …

Extreme weather caused by climate change could cost Germany up to 900 billion euros [$957.2 billion] in cumulative economic damage by mid-century, a study showed on Monday, as Europe’s biggest economy seeks climate adaptation measures to cut the damages bill. …

Ukraine has started online talks with partners on extending the Black Sea Grain Initiative aimed at ensuring Kyiv can keep shipping grain to global markets, a senior Ukrainian government source said on Tuesday. The source said Ukraine had not held …

SPRINGFIELD, Ohio (AP) – About 20 cars of a Norfolk Southern cargo train derailed near Springfield Saturday evening, the second derailment of the company’s trains in Ohio in a month, officials said. But unlike the Feb. 3 derailment in East …

China will set up a national financial regulatory administration, according to a plan announced on Tuesday, in the biggest overhaul of the country’s financial supervisory apparatus in years. The China Banking and Insurance Regulatory Commission (CBIRC), the country’s banking and …

The governor of the Bank of England has told lawmakers that the UK government’s plans to reform insurance capital rules increases the annual risk of a failure in the life insurance sector by around 20%. The likelihood of a failure …

A long road lies ahead to repair confidence in crypto after unprecedented bankruptcies and hacks, including the major challenge of giving investors a way of insuring against such events. Stock brokerage accounts often come with some cover against outcomes like …