INSURANCE NEWS
Catastrophic Storms to Test China’s Resilience in 2026, Scientists Warn
The floodwaters that ravaged southern China this week look set to expand to other provinces with the imminent arrival of Super Typhoon Bavi, with scientists warning extreme weather would only grow more frequent this year. The expected weather systems will …
Europe’s Financial Stability Watchdog Examining Private Credit Risks, Adviser Says
The EU’s financial stability watchdog is examining the risks private credit poses to the region’s banks and economy, one of its advisers said, and may recommend regulators be given greater direct oversight of the $3.1 trillion shadow lending industry. Richard …
El Niño Likely Strongest in 75 Years, US Forecasters Say
The weather-roiling El Niño that emerged across the Pacific last month has continued to build and will likely be one of the strongest in more than 75 years, the US Climate Prediction Center said. Sea surface temperatures of 1C (1.8F) …
Viewpoint: Second-Hand Risk – The Growing Threat of Used Equipment in Data Centers
As data center construction accelerates across the U.S. and globally, the conversation has rightly focused on environmental impact and land use. But there is a less viable risk accumulating in the supply chain that we believe risk managers would do …
Illinois Governor Signs AI Regulation Bill That Aims to Mitigate Risks
Gov. JB Pritzker signed artificial intelligence legislation modeled after similar bills in California and New York on Monday, furthering a push for a state-driven national framework in lieu of federal regulations. “Congress and the president ought to be passing similar …
Texas Lawmakers Continue Push to Ban TCH Products
The Texas Senate Committee on Health and Human Services held a public hearing Tuesday to gather information that will shape future legislation on THC products sold in the state. Lawmakers made arguments against THC that harkened back to the days …
AM Best Revises Outlook to Positive for Illinois’ National Group
AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of “a” (Excellent) of OMS National Insurance Company, …
Brown & Riding Launches National Private Client Practice
Brown & Riding this week announced the launch of its new national Private Client Practice, a specialty practice area focused on affluent personal lines risks. The practice is led by Courtney Kerr, a seasoned private client professional, and backed by …
People Moves: HDI Global US Names Chief Underwriting Officers
HDI Global (HDI) said it has strengthened its underwriting leadership team in the U.S. with the appointments of Bevan Greibesland as chief underwriting officer, specialty lines, and Bruce Griffin as chief underwriting officer, long tail lines. Greibesland joined HDI in …
Boston Joins Suits Against Social Media Giants Alleging Harm to Students
Mayor Michelle Wu announced that the city of Boston, on behalf of Boston Public Schools (BPS), has filed a lawsuit against Meta and other social media companies, including TikTok, Snapchat, and YouTube, alleging that these platforms deliberately target minors with …
Hormuz Ship Insurance Demand Drops as Owners Get Nervous
London marine insurers have been seeing fewer inquiries for journeys to transit the Strait of Hormuz and some said the cost of cover had risen, in a sign of growing caution from shipowners as the US and Iran exchange attacks. …
California Bill to Enable Insurers to Use Driver Telematics Is Making Its Way Through Legislature
A California bill to enable carriers to offer auto insurance discounts for good driving behavior in is making its way through state Legislature. Assembly Bill 311 would amend the state’s bedrock insurance law, Proposition 103. The bill, the Consumer Driving …