INSURANCE NEWS
Erie Insurance CEO NeCastro to Retire at Year End
Erie Insurance said Tim NeCastro, president and chief executive officer, will retire on Dec. 31 after 10 years leading the company. NeCastro, who was named CEO in 2016, led the company’s growth to nearly $13 billion in premium and more …
OSHA Fines Alabama Utility Contractor $257,700 After Deaths of 3 Workers
The U.S. Occupational Safety and Health Administration this week fined an Alabama utility contractor $257,700, six months after three workers died from sewage gas while installing sewer lines. Construction Labor Services, based in Eight Mile, near Mobile, Alabama, failed to …
TotalEnergies Asked to End Oil and Gas Exploration in Paris Lawsuit
TotalEnergies SE is fighting a lawsuit in Paris that seeks to block one of Europe’s top oil and gas producers from starting new fossil fuel exploration and extraction projects. A group of non-governmental organizations and the Paris town hall asked …
US Supreme Court Rejects Trump’s Global Tariffs
The U.S. Supreme Court struck down on Friday President Donald Trump’s sweeping tariffs that he pursued under a law meant for use in national emergencies, rejecting one of his most contentious assertions of his authority in a ruling with major …
Former Broker, Co-Defendant Sentenced to 20 Years in Fraudulent ACA Sign-Ups
The leaders of a $180 million scheme to sell Affordable Care Act insurance plans to homeless people and others who did not qualify were sentenced to 20 years in federal prison and full restitution. Cory Loyd, 47, who was a …
Ski Trip Hit by Avalanche Was Led by Outfit Offering Mountain Adventures Globally
The group of 15 backcountry skiers headed out on a three-day trek organized by Blackbird Mountain Guides into pristine wilderness near Frog Lake in California’s Sierra Nevada as a powerful winter storm moved into the state. The skiers made their …
Hedge Fund Fermat Says Surge in Cat-Bond Sales Is ‘Breathtaking’
The co-founder of Fermat Capital Management says the market for catastrophe bonds is drawing in new issuers at a rate that’s unlike anything he’s seen before. John Seo, managing director and co-founder of Connecticut-based Fermat — a hedge fund manager …
New York Governor Hochul Pulls Robotaxi Expansion Proposal
New York Governor Kathy Hochul has pulled her proposal to allow commercial robotaxi services in smaller cities outside New York, a spokesperson for the governor said on Thursday. “Based on conversations with stakeholders, including in the legislature, it was clear …
Two-Thirds of Independent Agencies Plan to Increase AI Use This Year, Survey Says
More than two-thirds of independent agencies plan to increase use of artificial intelligence in the next 12 month though just 8% said AI is currently embedded in their daily workflows, according to a new report from The Big “I” Agents …
Climate Change Made Deadly Valencia Floods More Intense
Man-made climate change intensified the rain that fell over Spain’s Valencia region in 2024, when flash floods and landslides caused at least 230 deaths and an estimated €29 billion in damages ($34 billion). Global warming also meant that sudden and …
How the UK Is Keeping Flood Insurance Affordable – Until 2039
While floods are becoming more frequent in recent years, you should still be able to buy reasonably priced home insurance. That reassurance exists largely because of Flood Re. Launched in 2016, Flood Re is a national public–private reinsurance scheme that …
India Grants One-Month Extension to 4 Russian Marine Insurers
India temporarily extended permission for four Russian insurers to cover tankers calling at its ports, as the government seeks to sustain crude imports while also managing US pressure to end shipments from Moscow. The stopgap move lasts for one month, …