INSURANCE NEWS
‘Soft Market Under Stress’ Offers Unique Window of Opportunity for Insurance Buyers
A buyer-friendly competitive commercial insurance market is likely to be short-lived, according to a new analysis of second-quarter 2025 market conditions from global professional services firm Aon. “This is not a typical soft market cycle; it’s a soft market under …
Bayer Adds $1.37 Billion to Reserves for Ongoing Roundup Litigation
German pharmaceutical and biotechnology group Bayer said on Thursday it had set aside an additional 1.2 billion euros ($1.37 billion) in provisions to address ongoing litigation in the United States over weed killer Roundup. The German group said that, on …
NY and NJ Flash Flood Threats Recede as Weather Stabilizes
Thunderstorms disrupted New York City transit and inundated roads just as workers started their the home-bound commute Thursday, but conditions were improving into the night and Friday morning commuters can likely expect smoother journeys. All flash flood warnings in New …
BHP, Vale Accused of ‘Cheating’ UK Law Firm out of $1.7 Billion in Fees
BHP and Vale are facing a London lawsuit from the law firm representing hundreds of thousands of people over Brazil’s worst environmental disaster, alleging the companies sought to cheat the firm out of legal fees by procuring settlements. BHP said …
Legal Risks Seen Accelerating Climate Adaptation Plans
Countries that fall short in efforts to limit global warming to 1.5°C face growing legal risks that could push them to accelerate climate adaptation efforts. The threat of lawsuits now looms over companies and governments that don’t take aggressive climate …
Indianapolis Man Sentenced to 8 Years for Setting Fire to Bus and Station
An Indianapolis man has been sentenced to eight years in federal prison after pleading guilty to setting fire to an IndyGo bus and bus station, causing approximately $1.8 million in damage. Demarcus McCloud, 46, was sentenced to eight years in …
Oklahoma Man Charged with Damaging TV Station’s Weather Radar
An Oklahoma man is facing charges for damaging the weather radar equipment of a local TV station, the office of Attorney General Gentner Drummond announced. Anthony Tyler Mitchell, 39, allegedly vandalized the power supply of News 9’s NextGen live radar. …
People Moves: CFC Appoints Laudadio US Healthcare Practice Leader
CFC, a specialist insurance provider headquartered in London, appointed Kyle Laudadio as healthcare practice leader in the U.S. Laudadio will lead the expansion of strategic broker relationships onshore in the U.S. Laudadio has over 15 years of industry experience in …
EEOC Sued Over Handling of Transgender Worker Discrimination Complaints
Legal groups sued the U.S. Equal Employment Opportunity Commission on July 29, claiming it is unlawfully refusing to enforce federal workplace protections for transgender workers. Led by Acting Chair Andrea Lucas, a Republican, the federal agency charged with enforcing laws …
US Reversal on Key Climate Finding Spells Uncertainty for Business
The Trump administration has billed its plan to undo U.S. climate regulation as a way to cut costs for industry, but it may backfire by forcing automakers, utilities, and manufacturers into a future of regulatory uncertainty and litigation risk, according …
Florida OIR Approves 31.5% ‘Catch-up’ Rate Increase for TRUE, Despite Missed Filings
Florida’s Office of Insurance Regulation this week approved an average 31.5% increase in homeowner rates for Trusted Resource Underwriters Exchange – one of the largest Florida rate hikes in two years – despite questions about irregularities by the company and …
Demolition Begins on Last Pieces of Baltimore’s Collapsed Key Bridge
Demolition crews are using giant saws, backhoes and other heavy equipment to remove large sections of the remaining pieces of Baltimore’s Francis Scott Key Bridge, which collapsed last year after a container ship lost power and veered off course, killing …