Economic losses for the Feb. 6, 2023 earthquakes in Turkey will likely exceed US$20 billion, while insured losses will likely be more than US$1 billion, according to Extreme Event Solutions at Verisk (formerly AIR Worldwide). These estimates are based on …

Cyclone Gabrielle has started to track away from New Zealand after leaving a trail of destruction across large parts of the nation’s North Island. Some 225,000 homes are without electricity, at least 2,500 people have been evacuated and tens of …

For years, Allianz, one of the world’s biggest investors, piled billions into property, wind farms and even London’s sewage system, but now it is moving to shun such “alternative” investments for plain vanilla bonds, people with knowledge of the matter …

Indian fintech startup InsuranceDekho raised $150 million from a clutch of investors led by Goldman Sachs Asset Management, an unusually large investment round that will help it target an under-served domestic market. TVS Capital Funds co-led the equity and debt …

Following through on intentions to move its high net worth business to nonadmitted paper—and some to other capital providers—American International Group entered into a binding memorandum of understanding with Stone Point Capital LLC to form an independent managing general agency. …

Though the last five years have included events – specifically the murder of George Floyd – that prompted many company leaders to make commitments to diversity, equity, and inclusion (DEI), respondents of a recent survey tell a story of a …

The Tennessee Department of Commerce and Insurance has named Mark Wiedeman, a Utah native, as director of the department’s captive insurance section. Wiedeman, a graduate of Brigham Young University, joined the Utah Insurance Department in 2012 as an auditor, then …

Wildlife authorities in Maine said six wild ducks found dead in a stream in Winthrop have tested positive for bird flu. The hooded mergansers were found dead in Mill Stream and tested positive for a highly pathogenic avian influenza, the …

Federal workplace safety authorities have fined a central Pennsylvania confectionary factory more than $14,500 following an accident last year in which two workers fell into a vat of chocolate. The Occupational Safety and Health Administration cited Mars Wrigley in the …

McKINNEY, Texas (AP) – Former Dallas Cowboys wide receiver and Pro Football Hall of Famer Michael Irvin has filed a defamation lawsuit seeking $100 million in damages, claiming he was falsely accused of misconduct by a female employee at a …

TOPEKA, Kan. (AP) – A faulty weld at a bend in an oil pipeline contributed to a spill that dumped nearly 13,000 bathtubs’ worth of crude oil into a northeastern Kansas creek, the pipeline’s operator said last Thursday, estimating the …

National specialty insurance broker Risk Strategies reports it has acquired Long Island, New York-based Bullen Insurance Group, a national specialist focused on high-net-worth families, individuals and their businesses. Terms of the deal were not disclosed. Bullen operates five offices in …