INSURANCE NEWS

Man Who Crashed Into Michigan Synagogue Was Inspired Hezbollah: FBI

An armed man who crashed his pickup truck into a major Detroit-area synagogue earlier in March was inspired by the Iran-backed militant group Hezbollah and had sought to inflict as much damage as he could on Jewish people, the FBI …
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AM Best Downgrades Credit Ratings of Cities and Villages Mutual

AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “a-” (Excellent) of Cities and Villages Mutual Insurance Company based in Wauwatosa, Wisconsin. …
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Giuliani Fails to Get $10 Million Sexual Harassment Suit in New York Dismissed

A New York judge has ruled that former New York Mayor Rudy Giuliani must face a $10 million lawsuit accusing him of sexual assault, sexual harassment, and wage theft. Judge Nicholas Moyne, of the state Supreme Court for New York …
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Student Shoots a Teacher at Texas High School Before Fatally Shooting Self

A 15-year-old student shot a teacher at a Texas high school and then fatally shot himself Monday, according to authorities, who were still investigating what led to the early morning attack. No other injuries were reported at Hill Country College …
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Iranian Missile Hit Oil Tanker in Qatari Waters, Qatar Says

An oil tanker leased to state-owned QatarEnergy was hit by an Iranian cruise missile on Wednesday in Qatari waters, the defense ministry said. Qatar was targeted by three cruise missiles coming from Iran. Two were intercepted while the third hit …
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Trump Says Iran Ceasefire Only Possible When Hormuz Reopens

US President Donald Trump said he’ll only consider a halt to attacks on Iran when the Strait of Hormuz is reopened, sowing further confusion about how long he’s prepared to continue the war.Iran’s “New Regime President” has asked the US …
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North Korean Hackers Suspected in Axios Software Tool Breach

Axios, a tool widely used to develop software applications, was compromised overnight, introducing a vulnerability in a key part of the internet’s plumbing. Hackers were able to breach one of the few accounts that can release new versions of Axios …
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Russia and Ukraine Set to Intensify War as World Focuses on Iran

Vladimir Putin made a big deal of Russia’s success in seizing control of Kupyansk in eastern Ukraine late last year, even as Volodymyr Zelenskiy immediately challenged the claim by making a video address from the town. Now Russian forces are …
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Acrisure Completes Buy of MGA Vave From Canopius

Fintech Acrisure said it has completed it deal to acquire managing general agent Vave from its parent company, Canopius. Vave will continue to operate under its brand name and be a part of New York-based Acrisure Underwriting, a platform of …
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Vermont Defends Its Climate Superfund Law Against Trump Administration Lawsuit

Vermont’s effort to make fossil fuel companies pay for damage caused by climate change was tested Monday in a federal courtroom, where the state argued that two lawsuits challenging its groundbreaking 2024 law should be thrown out. Vermont became the …
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Viewpoint: How Will the Middle East War Affect the Insurance Sector?

The recent escalation of the Middle East war introduces geopolitical instability with potential long-lasting effects on commodities, financing conditions, global supply chains, and macro-credit conditions depending on the duration and scale of the conflict. S&P Global Ratings’ base case for …
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Bank of England Says Iran War Has Boosted Threats to Financial Stability

The Bank of England said on Wednesday that the Iran war had dealt “a substantial negative supply shock” to the world economy, increasing the danger that pre-existing threats to financial stability materialize. The BoE said the prospect of weaker growth …
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