Insurer litigation expenses declined slightly between 2023 and 2024 and potentially benefitted from state legal reforms to address increasing litigation costs, the U.S. Department of the Treasury’s Federal Insurance Office (FIO) said in a new report. Citing S&P Global Data, …

A ship with 23 containers of radioactive zinc dust is stuck off the coast in the Philippines, unable to unload because there’s no site that has agreed to entomb the offending material, according to a top official. Port authorities aren’t …

After Hurricane Beryl devastated Jamaica’s grid last year, officials at the island’s sole utility vowed to fortify it. But the company’s initiatives were only in the planning and early implementation stages when Hurricane Melissa hit as a Category 5 storm …

The devastation from Hurricane Melissa came into focus after the record-setting storm moved past Jamaica, Haiti and Cuba with at least 33 deaths and almost $8 billion of damage in its wake. Across the Caribbean, the storm’s powerful winds have …

EverPeak Insurance announced the launch of its workers’ compensation solution in Arkansas. “Arkansas is powered by its small business community, and we recognize the critical need for accessible, reliable, and high-quality workers’ compensation coverage right here in the state,” said …

Independent adjusters’ claims that some Florida insurance companies had tampered with their damage estimates continue to trickle through courthouses and state agencies, with final resolutions far from certain or still months or years in the future. The latest developments include: …

Predictions marketplace Kalshi Inc. sued New York’s gaming commission, saying the state agency is overstepping its authority by attempting to regulate sports-betting operations that fall exclusively under federal jurisdiction. In a lawsuit filed Monday in Manhattan US District Court, Kalshi …

Aspire General Insurance Services promoted Bilal Alam to chief financial officer. Alam has been with Aspire since January 2023, joining the firm as chief information officer and most recently serving as chief risk officer, where he oversaw the risk, actuarial, …

A former assistant principal at a Virginia elementary school ignored multiple warnings that a 6-year-old student had a gun in the hours before he shot his teacher, an attorney for the teacher said Tuesday as trial opened in the woman’s …

Southern California Edison said on Wednesday it would pay several million dollars each to families who lost loved ones in the January wildfires that scorched 14,000 acres in greater Los Angeles and destroyed thousands of homes and businesses. The utility, …

Starr, a global investment and insurance organization, announced it has entered a definitive agreement to acquire IQUW Group, a specialty insurance and reinsurance business that combines data and analytics with underwriting expertise. Financial terms of the transaction were not been …

A new class-action lawsuit, if successful, could require the California owner of former military munitions bunkers near Edgemont to pay more than $17 million to people who rent the so-called igloos for use as homes or shelters to protect them …