INSURANCE NEWS
Tariff-Refund Seekers Flock to Little-Known US Trade Court
Importers seeking their share of more than $130 billion in tariff refunds are flocking to a little-known U.S. trade court, which must now figure out how to deal with what is expected to be an explosion of cases. Multinationals such …
Meta Loses Insurance for Defense in Major Social Media Addiction Litigation
A Delaware judge has ruled that insurers do not have a duty to defend Meta Platforms in the thousands of lawsuits that allege that its Facebook and Instagram platforms harm children. Superior Court Judge Sheldon K. Rennie ruled that Meta’s …
MNRB Gets Approval to Start Talks on Sale of Islamic Insurer Takaful Ikhlas: Sources
Malaysia’s central bank has approved the start of talks for MNRB Holdings Bhd. to sell its Islamic insurance unit Takaful Ikhlas, according to people with knowledge of the matter. Kuala Lumpur-listed MNRB can open negotiations with Bank Kerjasama Rakyat Malaysia …
Insurance Gaps Leave Airlines Exposed as Iran Conflict Widens
As the U.S.-Israeli air war against Iran widened on Monday with no end in sight, focus shifted to the impact on airlines. Operations have been disrupted for a third day and revenue losses are not covered by insurers, analysts and …
Iran Conflict Disrupts Global Shipping as Tankers Are Stranded, Damaged
Insurance companies are canceling war risk coverage for vessels in the Middle East Gulf as the widening Iran conflict disrupts shipping, leaving tankers damaged or stranded and at least two people dead. Shipping through the Strait of Hormuz between Iran …
Drone Strikes Damage Amazon Data Centers in the UAE and Bahrain
Amazon.com Inc.’s cloud unit warned of prolonged disruptions to its services after revealing that drone strikes damaged three of its data centers in the Middle East in recent days. Amazon Web Services Inc. said for the first time that drones …
Iran War Poses New Risk to US Economic Resilience
A U.S. economy that has weathered a year of trade, immigration and other shocks now faces a new test likely to ratchet up uncertainty after President Donald Trump’s decision to launch open-ended attacks against Iran with the stated goal of …
Senators Sound Alarm After New Data Shows Fewer OSHA Inspections, Fines
A group of U.S. senators issued a letter to Labor Secretary Chavez-DeRemer and Assistant Secretary of Labor for Occupational Safety and Health David Keeling, outlining their concerns about new data showing a significant drop in workplace safety investigations and fines. …
Viewpoint: Einstein on Entropy and Builders Risk
Were he alive today, Albert Einstein would make for a fantastic expert witness in builders risk coverage litigation. Einstein’s testimony on the concept of entropy would be particularly insightful—assuming his hourly rate was affordable, of course.[1] In recent years, we’ve …
Death and Destruction at Orlando I-4 Project But Punitive Damages Not Allowed
The Interstate 4 construction project in Orlando may have been one of the most accident-plagued sites in Florida history, leading to the deaths of five workers and significant injuries for others, along with damage to vehicles. But one of those …
NYC to Install Red Light Cameras at 600 Intersections by Year End
Last month, New York City announced it would begin activating red light cameras at 50 new intersections each week for the next five weeks, reaching 600 intersections by the end of 2026. The New York City Department of Transportation (NYC …
Michigan Farm to Pay $33K to Settle River Pollution Case
Michigan Attorney General Dana Nessel has reached a settlement with Holloo Farms, a concentrated animal feeding operation (CAFO) in Calhoun County, to resolve allegations that the company violated environmental regulations and improperly discharged animal waste into state waters. As part …