INSURANCE NEWS
US Court Blocks Most Trump Tariffs, Says President Exceeded His Authority
A U.S. trade court blocked most of President Donald Trump’s tariffs in a sweeping ruling on Wednesday that found the president overstepped his authority by imposing across-the-board duties on imports from U.S. trading partners. The Court of International Trade said …
Markets/Coverages: MGA Rokstone Launches International Casualty Division
Rokstone, the London-based specialty re/insurance MGA that is part of the Aventum Group, announced the launch of its International Casualty Division. The move marks the latest milestone in Rokstone’s strategic build-out of its casualty portfolio, following the recent launch of …
Sony Says Spin-off Will Give Financial Arm Its Own Fundraising Capabilities
Sony’s CEO said on Thursday the spin-off of the group’s financial services arm will give that business its own fundraising capabilities. “It is significant that, through the spin-off, Sony (Financial Group) will secure its own fundraising capabilities while continuing to …
Hiscox Appoints Clarke as Chair Designate
Hiscox Ltd., the Bermuda-based specialist insurer, announces the appointment of Peter Clarke as chair designate, subject to regulatory approval. Clarke will join the board as chair designate on June 1, 2025 and will succeed Colin Keogh as chair with effect …
UK Authorities Charge Director at Center of Fake Plane Parts Probe
The former director of a firm at the center of a global investigation into bogus airplane parts was charged with fraud by UK authorities. The Serious Fraud Office charged AOG Technics Ltd.’s director, Jose Alejandro Zamora Yrala, with fraudulent trading, …
Tesla Targets June 12 Launch of Robotaxi Service in Austin
Tesla Inc. is poised to begin its long-awaited robotaxi service in Austin on June 12, according to a person familiar with the matter, a milestone in Elon Musk’s plan to reshape the company around driverless vehicles and artificial intelligence. The …
Missouri Special Session to Include Discussion on Aid for Tornado Victims
Missouri lawmakers are to kick off a special session Monday to consider aid for tornado victims and a package of financial incentives aimed at keeping the Kansas City Chiefs and Royals from leaving the state for new or improved facilities …
Michigan Court Ends Effort to Sue Oxford School Staff Over Mass Shooting
The Michigan Supreme Court on Wednesday dismissed appeals by families of students killed or wounded at Oxford High School in 2021, ending efforts to hold employees partly responsible for the mass shooting. Under Michigan law, immunity is a high hurdle …
Wildfire Experience Inspires New Contents Claims InsurTech
When Michael Balarezo emerged from the basement office of his Boulder, Colo., home in December 2021, smoke plumes from the nearby Marshall Fire were visible from his driveway. Balarezo, his wife and daughter swiftly stowed emergency clothing, sensitive documents and …
Cargo Ship That Ran Aground in Norway, Nearly Hitting a House, Is Towed Back to Sea
A cargo ship that ran aground in a Norwegian fjord and narrowly missed a house, was pulled back into open water and was being towed to a nearby harbor on Tuesday — five days after the spectacular accident. A tugboat …
US Agrees to End Use of Race, Gender in Highway, Transit Contracts
The Trump administration said on Wednesday it has agreed to end the U.S. Transportation Department’s consideration of race or gender when awarding billions of dollars in federal highway and transit project funding set aside for disadvantaged small businesses. A judge …
Viewpoint: Global Reinsurers Stand Strong Amid Investment Volatility, Natural Disasters
The reinsurance industry has shown significant improvements in operating performance in recent years. Despite facing substantial insured natural catastrophe losses globally, reinsurers achieved robust earnings growth in 2023 and 2024 exceeding their cost of capital. This is largely attributed to …