INSURANCE NEWS
EU to Propose New 2040 Climate Target for Emissions by End-March
The European Commission will propose a new climate target this quarter, to slash Europe’s emissions by 2040, it said on Wednesday. A commission work program, published on Wednesday, confirmed the EU would amend its climate law this quarter – a …
Australia’s Iron Ore Hub Faces Strongest Cyclone Since 2007
Australia’s iron ore hub is bracing for the strongest cyclone to hit the region since at least 2007, threatening port facilities and big mines operated by companies including Rio Tinto Group and BHP Group. Severe Tropical Cyclone Zelia has rapidly …
New Rules Eyed for Battery Rechargers on Planes After Korean Jet Fire
Air travelers in South Korea may be asked to seal up the ports on their handheld battery rechargers or put them in a separate plastic bag after an in-cabin fire on an Air Busan Co. plane last month. South Korea’s …
DeepSeek May Face Further Regulatory Actions, EU Privacy Watchdog Says
DeepSeek may face more actions from national regulators in the future, Europe’s privacy watchdog said on Tuesday [Feb. 11], underscoring the bloc’s concerns about the rising popularity of the cheap Chinese artificial intelligence startup. National privacy regulators discussed DeepSeek at …
FEMA to Borrow $2B to Pay Flood Claims After Hurricanes Helene and Milton
The Federal Emergency Management Agency said it needs to borrow $2 billion from the U.S. Treasury to cover claims from National Flood Insurance Program policyholders. FEMA, administrator of NFIP, said it expects to pay out more than $10 billion in …
India Is Building a Sanctions-Proof Supply Chain for Russian Oil
Oil refiners in India — eager to keep importing cheap crude from Russia — are working with merchants, shippers and other middlemen to rebuild supply chains as tougher US sanctions come into effect. Speaking on the sidelines of India’s flagship …
These Roads Aren’t Built for Wilder Weather Driven by Climate Change
California’s Highway One, stretching more than 650 miles along the Pacific Coast, is one of America’s most popular roadways because of its breathtaking views. Yet, since 2023, large chunks of it have been closed. That year, a series of atmospheric …
Viewpoint: New Year, Old Challenges for European Insurers
The European insurance sector saw high levels of claims inflation in 2024. In motor-related material damage in particular, claims inflation is still outpacing the Consumer Price Index, and we could see primary insurers continuously increasing premium rates in 2025. While …
Bayer Broadens Effort to Shield Itself From Claims Weedkiller Caused Cancer
A renewed and expanded effort from chemical giant Bayer to shield itself from lawsuits that claim its popular weedkiller Roundup causes cancer brought dozens of protesters to the Iowa Capitol building Monday begging lawmakers to reject it. The legislation, pending …
Measles Outbreak Reported in Small West Texas County
Fifteen measles cases — mostly in school-aged children — have been confirmed in a small county in West Texas with one of the highest rates of vaccine exemptions in the state. South Plains Public Health District Director Zach Holbrooks said …
People Moves: AIG’s Furth to Hiscox to Head US Claims; Hamlin to Lead TMHCC US Hospital Pro Liability; Amwins Names Healthcare Practice Leader
Hiscox, headquartered in Atlanta, appointed Alexandra Furth as head of claims in the U.S., effective March 10. Furth has over 20 years of claims and legal leadership experience, most recently serving as AIG’s head of casualty claims. Before AIG, Furth …
NYSE Plans Texas Exchange as Financial Firms Flock to State
The New York Stock Exchange plans to start an equities exchange in Texas, the latest firm seeking a slice of the financial services industry in a state where the taxes are lower and regulation looser. NYSE said it will reincorporate …