The Strait of Hormuz remains effectively closed to commercial shipping, with maritime traffic reduced to a trickle and dominated by Iranian-linked vessels. There were few notable foreign-affiliated movements amid reports of Iran’s Bitcoin-backed insurance program for shipping companies willing to …

Standard Chartered will eliminate more than 7,000 jobs over the next four years as it seeks to replace “lower-value human capital” with technology, becoming one of the top names in finance to target headcount cuts using artificial intelligence. The London-headquartered …

The Insurance Industry Charitable Foundation (IICF) announced the appointment of LoriAnn V. Lowery-Biggers as CEO. Lowery-Biggers brings more than 30 years of experience to the role, having previously served as president of Lloyd’s North America along with executive leadership positions …

Due to the rapid evolution of artificial intelligence, data, and analytics, brokers are gaining the ability to treat the risk of each client separately, said Ashley Karg of McGill and Partners. “There’s more opportunity for brokers to embrace individualizing our …

Corporations facing high-profile negligence lawsuits have been known to request a bench trial—held before a judge only and without the risks of plaintiffs’ lawyers playing on the emotions of a 12-person jury. But in West Virginia, the pharmacy benefits manager …

The numbers aren’t all in, but it looks like Progressive is now the biggest private passenger auto insurer, based on an analysis from S&P Global Market Intelligence that shows Progressive muscling past State Farm. S&P GMI estimates Progressive’s U.S. private …

A Yakima insurance agent and an unauthorized insurance company are barred from doing business in Washington after Insurance Commissioner Patty Kuderer issued cease-and-desist orders in April. Those were two enforcement actions during the first quarter in which Kuderer issued fines …

The head of the Federal Aviation Administration will tell Congress on Tuesday the agency failed to act on warnings prior to the January 2025 fatal collision between an American Airlines regional jet and an Army helicopter that killed 67 people …

Michigan Attorney General Dana Nessel has secured a $108 million settlement with Monsanto Company (PDF), the major manufacturer of polychlorinated biphenyls (PCBs), and affiliated companies Solutia Inc. and Pharmacia LLC to address harms from PCB contamination in the State of …

During this month, two insurers and two brokers have announced acquisitions in India and Europe. Details of these deals follow. Vienna Insurance Group Completes Purchase of Germany’s Nuernberger Vienna Insurance Group (VIG) has completed its acquisition of Nuernberger Beteiligungs AG …

California-headquartered Inszone Insurance Services has continued its hot streak of acquisitions with the purchase of Coastal Insurance Services in Florida and affiliated Optimal Insurance Solutions. The acquisition marks Inszone’s first step into the Florida market, the company said in a …

Hint, a self-described “home management platform,” has launched with a $10 million seed round of funding and the original influencer of all things having to do with the home living. Well-known multimedia mogul and businesswoman Martha Stewart has co-founded Hint …