INSURANCE NEWS
Hormuz Ship Traffic Grinds to Near Halt After US, Iran Strikes
Traffic through the Strait of Hormuz came to a near standstill on Thursday, after the US struck Iran for a second straight day as a fragile truce between the two sides looked increasingly shaky. Observable movements in the world’s most …
UK Water Regulator Finds Severn Trent Breached Wastewater Duties
UK water regulator Ofwat found that Severn Trent Plc had “serious failings” in how it deals with wastewater and sewage as part of a broad investigation into practices of utilities in the sector. Ofwat didn’t impose a fine on Severn …
Deere Settles Lawsuit by FTC, States Over Equipment Repair Restrictions
Deere agreed on July 8 to settle a lawsuit by the Federal Trade Commission and five U.S. states accusing the farm equipment maker of illegally requiring farmers to use its network of authorized dealers for repairs, rather than use independent …
Coffee Trader Seeks to Shield More Vietnam Growers With its Specialty Weather Cover
Major coffee trader ECOM Agroindustrial Corp. is pushing for a fivefold increase in the number of growers covered by its specialty weather insurance in Vietnam, where the industry depends on thousands of smallholder farmers increasingly exposed to climate risk. The …
InsuranceDekho Said to Pick Banks for $400 Million India IPO
Indian insurance aggregator InsuranceDekho’s parent has selected HSBC Holdings Plc, Morgan Stanley, ICICI Securities Ltd. and IIFL Capital Services Ltd. as advisers to a potential initial public offering, according to people familiar with the matter. The offer from Girnar Insurance …
UPS Never Required Detailed Inspection of Part That Failed in Louisville Crash
UPS never required the detailed inspections needed to spot the problem that led to an engine to fly off one of its planes before it crashed even after Boeing recommended it years earlier, according to new documents posted Wednesday by …
CSU Lowers Atlantic Hurricane Forecast to ‘Well Below Normal’
Thanks to a strengthening El Nino, the rest of the Atlantic hurricane season will be well below normal, said researchers at Colorado State University. In a July 8 update to its forecast, CSU said the 2026 hurricane season will have …
Q&A With NYC Mayor and Officials on Structurally Compromised Midtown Building
The following is an unedited transcript provided by New York City of a July 7, 2026 press conference with Mayor Zohran Kwame Mamdani, Fire Commissioner Lillian Bonsignore, Fire Department Chief John Esposito, and Buildings Commissioner Ahmed Tigani concerning the unstable …
Some War Insurers Advise Shipowners to Pause Hormuz Voyages After Attacks: Sources
Some war underwriters have advised shipping companies to pause voyages through the Strait of Hormuz while others are reviewing their policy terms after renewed vessel attacks threatened a return to war between Iran and the U.S., insurance industry sources said …
AM Best Revises Outlook to Stable for Brotherhood Mutual
AM Best has revised the outlook to stable from negative for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of “bbb+” (Good) of Brotherhood Mutual Insurance Company …
Wisconsin Residents Affected by April Storms Eligible for FEMA Aid
Wisconsin residents affected by the April storms that brought severe flooding and tornadoes to the state can apply for FEMA aid. Affected individuals in Bayfield, Brown, Buffalo, Jackson, Jefferson, Juneau, Kenosha, Manitowoc, Marathon, Milwaukee, Outagamie, Racine, Rock, Sauk, Vernon, Washington, …
NYC to Publicly Identify Buildings Testing Positive for Legionnaires’ Bacteria
New York City is taking the unprecedented step of publicly identifying buildings on the Upper East Side where cooling towers test positive for the bacteria causing Legionnaires’ disease. Buildings with positive initial tests are also being ordered to immediately drain, …