INSURANCE NEWS
South African Insurer Santam Gets ‘In-Principle’ Approval to Launch Lloyd’s Syndicate
Santam, the Cape Town, South Africa-based property/casualty insurer, has been granted “in-principle” approval by Lloyd’s to launch a syndicate based in London, which will accelerate the group’s international growth and diversification goals. The new venture will be known as “Santam …
Tally of Microsoft Victims Surges to 400 as Hackers Exploit SharePoint Flaw
The number of companies and organizations compromised by a security vulnerability in Microsoft Corp.’s SharePoint servers is increasing rapidly, with the tally of victims soaring more than six-fold in a few days, according to one research firm. Hackers have breached …
Munich Re Chairman Wenning to Retire at Year-End, Succeeded by Jurecka
Munich Re has named Dr. Christoph Jurecka (50) as chairman with effect from Jan. 1, 2026, succeeding Dr. Joachim Wenning (60), who has decided to retire at the end of the year. Jurecka has been with the group since 2011, …
Weather-Related Losses Cause AM Best to Revise Brethren Mutual’s Outlooks
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of The Brethren Mutual Insurance Co. in Hagerstown, Maryland. AM Best said the …
Man Charged With Arson Over Fires That Damaged 11 NY Police Vehicles
A man with a history of arrests at pro-Palestinian protests was charged Monday with setting fire to 11 New York City police vehicles last month. Jakhi McCray, 21, of Brooklyn pleaded not guilty to arson in U.S. District Court. A …
Ex-NYPD Commissioner Targets Mayor Adams in $10 Million Defamation Claim
New York City’s former interim police commissioner has filed a $10 million defamation claim against Mayor Eric Adams for reportedly suggesting he was mentally unfit for the job of top cop. The filing comes less than a week after the …
NTSB Blames Cellphone Distraction for Mississippi River Barge Collision
A tow pilot’s distraction caused by personal cellphone use resulted in a collision last year with moored barges on the lower Mississippi River, the National Transportation Safety Board said last week. The towing vessel William B Klunk was pushing 22 …
World Court Is Poised to Mark Future Course of Climate Litigation
The United Nations’ highest court will deliver an opinion on Wednesday that is likely to determine the course of future climate action across the world. Known as an advisory opinion, the deliberation of the 15 judges of the International Court …
Texas Senate Doubles Down on THC Ban
The Texas Senate is doubling down with its attempt to ban hemp-derived THC, setting up another showdown with the House, where lawmakers are more amenable to regulating the substance than eliminating it from recreational use. Senate Bill 5 by Sen. …
Big I: Independent Agencies’ Market Share Shows Small Decline
The independent agency channel placed 61.5% of all property/casualty insurance written in the U.S. in 2024, a slight decline from 2023 where independent agents placed 62.2% of property/casualty lines nationwide. That’s according to the 2025 Market Share Report published by …
Italy’s Top Court Says Climate Case Against Eni Can Continue
A climate change case against Italian energy group Eni can continue, the country’s top appeals court has ruled, in a jurisdiction case that had been raised by environmental groups Greenpeace Italia and ReCommon. The judgment, which the two organizations published …
AI Should Run on 100% Renewable Energy by 2030, UN Chief Says
Major tech firms should commit to fully powering data centers with renewable energy by 2030, said United Nations Secretary-General António Guterres. Big tech also must be responsible in its use of water for cooling, Guterres said Tuesday in New York …