INSURANCE NEWS
Markets/Coverages: BHSI Updates Private Company Executive Lines Suite in Canada
Berkshire Hathaway Specialty Insurance (BHSI) has introduced an update to its Private Company Executive Lines suite of products in Canada and named Shaun Lue as private company leader. The new modular offering includes expansive directors & officers liability, fiduciary liability …
New Report Shows Rise in Cargo Theft, With Three States Leading the Way
Cargo theft across the U.S. and Canada continued to rise in 2024, with three states making up the bulk of losses, a new report shows. Multimodal hubs in California, Texas, as well as around Chicago, continue to be top targets …
Increased Writings in Homeowners Adds to US Surplus Lines Growth
Increasing movement of homeowners insurance risk to the U.S. surplus lines market has continued to contribute to growth for nonadmitted insurers. According to a report from AM Best, surplus homeowners direct premiums written in 2023 eclipsed $2 billion for the …
Spanish Grid Operator’s First Assessment Rules Out Cyber Attack Behind Blackout
Spanish electricity grid operator REE said on Tuesday its preliminary assessment had ruled out cyberattack as the cause of the nationwide power outage that hit most of Spain and Portugal on Monday. Lights went off in most of the two …
Why Restarting a Power Grid After Massive Collapse Is So Hard
It’s a worst case scenario that grid operators plan for but hope never to encounter. After one of the worst blackouts in Europe in more than a decade, electricity grid operators in Spain and Portugal are trying to get networks …
Indiana Steel Mill Processor Fined $190K for Clean Air Act Violations
The U.S. Environmental Protection Agency announced a settlement for alleged violations of the Clean Air Act with Phoenix Global, a company in Burns Harbor, Indiana, that processes slag from a steel mill. The company paid $190,860 in penalties. Slag is …
Wastewater is Polluting Rivers and Streams in Central Texas
Margo Denke set out to rally the town when she learned that a Christian youth camp planned to build a wastewater treatment plant and discharge its effluent into the pristine Hill Country creek that ran through her small ranch. Denke, …
NOAA Risks Loss of Data Network and Web Service
A key contract that supports the network service provider for the US National Oceanic and Atmospheric Administration is set to lapse this week, threatening internet access and the transmission of internal data nationwide for much of the agency. The N-Wave …
North Dakota Enacts Law Shielding Bayer from Roundup Lawsuits
A new first-of-its-kind law enacted in North Dakota could shield agrochemical manufacturer Bayer from lawsuits claiming it failed to warn customers that its popular weedkiller Roundup could cause cancer. Though the immediate effect may be small, given that North Dakota …
Tariff ‘Chaos’ Drags Key Texas Manufacturing Gauge to Worst Since 2020
A widely followed measure of Texas manufacturing activity weakened significantly as executives used words like “chaos” and “insanity” to describe the turmoil spurred by President Donald Trump’s tariffs, according to a report by the Federal Reserve Bank of Dallas. A …
Many Snowbirds Looking to Pack Up and Fly North For Good. Florida Hit Hard
The number of Canadian “snowbirds” planning to sell their second homes in sunny Florida and Arizona has surged this spring, many of them put off by the sudden chill that has blanketed relations between their homeland and the U.S. Real …
23andMe Bankruptcy Bid Deadline Extended as DNA Privacy Woes Linger
The sale of the bankrupt DNA data bank 23andMe is facing delays as the company tries to find a lead bidder that can quickly clear regulatory hurdles and guarantee customer privacy rules will be honored. The former Silicon Valley startup …