INSURANCE NEWS
AXA Launches Unified Ceded Re Team for Greater Operational Alignment
AXA announced an organizational restructuring that integrates the AXA Group and AXA XL Ceded Reinsurance teams to create a unified Ceded Re team, effective July 1, 2025. The unified Ceded Re team will operate under the leadership of Guy Van …
College Team Physicians Wary of Greater Liability Risk With Athletes Making Money
The professionalization of college sports has prompted concern among team physicians that they will be exposed to a greater risk of being sued by athletes who claim a poor outcome from treatment caused them to lose future earnings. Before July …
US Declares Power Emergency in Southeast on Heat Wave
The Trump administration has declared a power emergency in the US Southeast as a blistering heat wave strains grids across the country. The emergency order by the Energy Department allows Duke Energy Corp. to exceed certain air pollution limits and …
Louisiana Attorney General Sues CVS for Deceptive Practices
Louisiana Attorney General Liz Murrill said on Tuesday she had filed three separate lawsuits against CVS CVS.N for unfair, deceptive and unlawful practices “that have harmed Louisiana patients, independent pharmacies, and the public at large.” The state is seeking both …
People Moves: Storey Named President of Irwin Siegel
Ryan Specialty, headquartered in Chicago, Illinois, appointed Brad Storey to president of Irwin Siegel Agency (ISA), the social service industry focused managing general underwriter which is a part of the Ryan Specialty Underwriting Managers division of Ryan Specialty. ISA is …
Oregon Governor Signs Bill Providing Unemployment Pay for Striking Workers
Democratic Oregon Gov. Tina Kotek on Tuesday signed into law a bill that provides unemployment benefits to striking workers, following neighboring Washington state in adopting measures spurred by recent walkouts by Boeing factory workers, hospital nurses and teachers in the …
New England Electric Grid Under Precautionary Alert
The electric grid for Boston and the surrounding region operated under a precautionary alert on Tuesday as the surplus of power was expected to narrow to a razor-thin margin amid soaring temperatures. ISO New England, the electric grid operator for …
Homes With Toxic Smoke Damage Deepen Insurance Nightmare in LA
Months after fire tore through Los Angeles’ Pacific Palisades neighborhood, homeowners are struggling to get reimbursed — not for houses reduced to rubble, but for the damage of smoke and toxins in the properties that remain. For residents such as …
First Tropical Storm of 2025 Season Weakens in Atlantic
Tropical Storm Andrea, the first tropical storm of the Atlantic hurricane season, was forecast to dissipate by Wednesday after forming at sea Tuesday, the National Hurricane Center said. The tropical storm was far from land in the middle of the …
E&S Insurtech Ledgebrook Raises $65 Million
Ledgebrook Inc, a technology-driven excess and surplus lines managing general agency, recently completed the close of a $65 million funding round. The oversubscribed Series C round was led by existing investor The Stephens Group, LLC . Existing investors Duquesne, Brand …
DC Sues 4 Drivers With 1,000 Outstanding Traffic Violations
A Maryland resident with 414 outstanding traffic citations, including 360 for excessive speeding, is being hauled into court by District of Columbia Attorney General Brian L. Schwalb who is seeking to collect the $168,168 in unpaid fines and penalties she …
Texas, Oklahoma and Nevada Pass Law to Lure Corporations Away From Delaware
Lawmakers in Texas, Oklahoma and Nevada have recently approved changes aimed at helping their states dip into the lucrative side of corporate litigation that Delaware, with a specialized court and business-friendly laws, has dominated as the world’s incorporation capital. Concerned …