INSURANCE NEWS
London Market Brokers, Associations Welcome Move to Create UK Captive Domicile
The UK Chancellor of the Exchequer Rachel Reeves announced today that the UK will introduce a captive insurance company regime – a decision that was welcomed by brokers and trade associations across the London market. The government aims to deliver …
Antitrust Enforcers ‘Get Out of the Way’ of Multibillion-Dollar Deals
President Donald Trump’s antitrust enforcers recently cleared a string of multibillion-dollar deals in a week, demonstrating a willingness to settle with companies that marks a shift from the Biden administration. The U.S. Department of Justice’s Antitrust Division and the U.S. …
TWIA Actuarial Committee Recommends No Rate Change for 2026 Policies
The Texas Windstorm Insurance Association actuarial and underwriting committee on Monday voted to recommend no rate change for 2026 residential and commercial policies. The TWIA board of directors will consider the recommendation when they meet on August 5. TWIA must …
Commerce Department Launches Investigation of Drones, Setting Stage for Tariffs
The US Commerce Department launched investigations into imports of drones, parts for unmanned aerial vehicles and for polysilicon, a key material for solar power, setting the stage for possible tariffs on those goods. The probes were launched on July 1 …
Michigan Construction Company Sued for Allegedly Scamming Customers
Michigan Attorney General Dana Nessel announced a lawsuit against Hummingbird Construction Co., LLC and its owner, Matthew Ashline, for allegedly scamming multiple customers by accepting deposits for construction projects never started and then failing to return the funds. The lawsuit, …
Trump Set to Outline AI Priorities in Speech Asserting US Edge
President Donald Trump plans to deliver a major address on artificial intelligence next week to outline his vision for ensuring American dominance in AI, marking his biggest statement on an emerging technology at the heart of the US-China rivalry. Trump …
California Insurance Commissioner OKs Higher Workers’ Pure Premium Filing
California Insurance Commissioner Ricardo Lara approved a higher September 1, 2025, pure workers’ compensation premium rate filing. The decision followed a filing by the Workers’ Compensation Insurance Rating Bureau of California. The WCIRB submitted the filing to the California Department …
California Farmworker Who Fell From Greenhouse Roof During Chaotic ICE Raid Dies
A farmworker who fell from a greenhouse roof during a chaotic ICE raid this week at a California cannabis facility died Saturday of his injuries. Jaime Alanis, 57, is the first known person to die during one of the Trump …
Insured Losses From US Hurricanes Could Rise by 50% With Global Warming
Insured losses from U.S. hurricanes could rise by nearly 50% under a 2°C (3.6°F) global warming scenario, according to MS Amlin, the Lloyd’s global reinsurer. A peer-reviewed study published in the Journal of Catastrophe Risk and Resilience shows that climate …
Markets/Coverages: Liberty Specialty Launches Crypto Product for Financial Institutions
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, announced the launch of a dedicated product for financial institutions operating in the burgeoning cryptocurrency market. The product is designed for European crypto-asset service providers, particularly those compliant with the …
Heavy Rains and Flash Flooding Inundate Northeast Roads and Neighborhoods
Heavy rain swept across parts of the U.S. Northeast on Monday night, inundating sections of New York and New Jersey with flash flooding that stranded vehicles in roadways, closed subway lines and led to a declaration of a state of …
Lawyers Warn UK NDA Ban May Reduce Misconduct Settlement Payouts
A landmark ban on the use of non-disclosure agreements in workplace misconduct cases – a longstanding practice of financial firms – may make it harder for victims to win compensation and discourage some from speaking up, lawyers say. Under reforms …