INSURANCE NEWS
Supreme Court Set to Issue Rulings as Trump Awaits Fate of Tariffs
The U.S. Supreme Court could issue at least one ruling on Friday as several major cases remain pending including litigation testing the legality of President Donald Trump’s sweeping global tariffs. The court may release opinions in argued cases when the …
NC Insurance Commissioner Urges President to Not Pardon Greg Lindberg
North Carolina’s insurance commissioner has heard nothing from the White House, three weeks after he sent a letter urging the president to refrain from pardoning twice-convicted insurance entrepreneur Greg Lindberg. “Mr. Lindberg’s criminal conduct was not incidental, technical, or victimless. …
People Moves: Munich Re Syndicate Taps HDI’s Ogden as CEO; HDI Global UK & Ireland Names Hunt as Interim CEO in UK & Ireland as Ogden Departs
This edition of International People Moves details leadership transitions at Munich Re Specialty and HDI Global. A summary of these appointments follows here. Munich Re announced that Stephanie Ogden has been named CEO of Munich Re Specialty’s Syndicate, effective March …
Baldwin Group Acquires Capstone Group in Philadelphia
Florida-based global insurance broker The Baldwin Group announced it has completed the acquisition of Capstone Group, a multi-line independent insurance brokerage firm headquartered in Lower Gwynedd Township, Pennsylvania, in the Philadelphia area. Capstone was founded in 2013 by Kevin M. …
How Trump’s Tariffs Ricochet Through A California Business Park
America’s trade wars forced Robert Luna to hike prices on the rustic wooden Mexican furniture he sells from a crowded warehouse here, while down the street, Eddie Cole scrambled to design new products to make up for lost sales on …
Surge of Supercharged Hurricanes Prompt Call for Cat 6 Classification
Scientists warn that warming sea surface temperatures are fueling a surge of extreme, off-the-charts storms, prompting a new hurricane category. Warm, deep ocean hot spots are leading to stronger and more dangerous hurricanes and typhoons, according to new research by …
Law Firm Faces Sanctions for Failing to Vet Ugandan Claims in $6B 3M Case
An Alabama law firm will likely have to pay more than $800,000—plus another $100,000 in sanctions—for failing to verify hearing loss in hundreds of Ugandans who claimed part of the massive settlement over faulty 3M earplugs. “It’s been a learning …
Company Hit With $9 Million Fine for 2023 Oil Spill off Louisiana Coast
Pipeline safety regulators this week assessed their largest fine ever against the company responsible for leaking 1.1 million gallons of oil into the Gulf off the coast of Louisiana in 2023. But the $9.6 million fine isn’t likely to be …
Russian-Bound Tanker Hit by Drone in Black Sea, Maritime Sources Say
A Russia-bound oil tanker suffered a drone attack in the Black Sea that prompted it to request Turkish coastguard assistance and divert from its course, according to a notice by Lloyd’s List Intelligence and a separate maritime security source on …
China Urges Nestlé to Work Quickly on Baby Formula Recall
Chinese authorities are urging Nestlé SA to work quickly in recalling baby formula products in the mainland over potential contamination concerns. The State Administration for Market Regulation said Thursday that Nestlé had an important corporate responsibility to protect the rights …
Markets/Coverages: Mosaic Insurance Launches Bermuda Excess Casualty Business
Mosaic Insurance has launched an excess casualty unit, its eighth global product line, and hired specialist April Andruczyk to lead the business from Bermuda. The new division, which begins underwriting immediately, will provide support to large corporate and multinational clients …
Insurers Buy Erste SRT Deal Linked to €10 Billion Loans for M&A
Erste Group Bank AG sold a significant risk transfer linked to more than €10 billion ($11.7 billion) of loans as the Austrian bank seeks to free up capital for its largest ever acquisition. The Vienna-based lender sold the SRT to …