INSURANCE NEWS
Trump Issues Order to Block State Climate Change Policies
U.S. President Donald Trump issued an executive order on Tuesday that aims to block the enforcement of state laws passed to reduce the use of fossil fuels and combat climate change. The move is the latest in a string of …
Rebates on HO Premiums? It’s a Thing, Orion180 Says in Launching Florida Coverage
Orion180, a property insurance and surplus lines carrier founded in Melbourne, Florida, in 2016, has now started writing policies in the state where it is headquartered. And it is doing so with what appears to be an unusual strategy: Rebates …
Court: 911 Not Part of Emergency Services, Barring Dispatcher Liability Coverage
A 911 dispatch center is not necessarily part of a county’s emergency services department and is not covered by a secondary liability insurance policy, a federal appeals court found this week in a decision that will cost Travelers several million …
After Decades of Abuse Complaints, New York Pediatrician Ordered to Pay $1.6 Billion
Starting in the 1980s, New York law enforcement and health officials fielded sexual abuse complaints from the young patients of a respected pediatrician who ran his practice out of a basement office in his home on Long Island. But Stuart …
Liberty Mutual CEO Sweeney Elected Chairman as Long Retires
Liberty Mutual’s Timothy M. Sweeney, president and chief executive officer, has been elected chairman of Liberty Mutual Holding Co. Sweeney succeeds, David H. Long, who is retiring. Long has been with Boston-based Liberty Mutual for 40 years. He was named …
Trump Temporarily Lowers Tariffs for Most Countries, Raises Them for China
U.S. President Donald Trump said on Wednesday he would temporarily lower new tariffs on many countries, even as he raised them further on imports from China, in a sudden reversal that sent U.S. stocks sharply higher. Trump’s announcement came less …
MNK Group Unveils New Unified Brand
MNK Group has launched a new unified brand, which integrates its broking, MGA, and risk-taking entities to ensure a consistent customer experience. The new group website (groupmnk.com) connects all underlying entities across the UK, Europe, North America, Latin America, Africa, …
China Financial Regulator to Raise Insurance Funds’ Limits for Stock Investment
China’s financial regulator plans to raise limits for insurance funds’ investment in the stock market, as part of action taken to increase support for capital markets and the real economy. It will raise the upper limit of the equity asset …
People Moves: Inszone Names Strong, Cook Midwestern Leadership
Inszone Insurance Services, headquartered in Rancho Cordova, California, made a series of leadership promotions in its Midwestern region. Jared Strong is now vice president of Illinois. Strong has been with Inszone for five years, previously serving as a producer. Brian …
California Wildfires Had Little Impact on Reinsurers’ Risk Appetite During April Renewals
Property-catastrophe capacity remained adequate to meet demand during the April 1 renewals for US reinsurance buyers, despite the record losses from California’s January wildfires, according to Aon and Gallagher Re in their renewal reports. Reinsurers continued to demonstrate an appetite …
Texas Oil Executives Are Frustrated at Trump for Crushing Crude Prices
The angry mutterings at the Permian Basin Petroleum Association’s “Spring Swing” golf tournament this week weren’t all about missed putts or lost balls. The Texas oilmen on the fairways had a more serious concern: The president they helped elect was …
Catastrophe Bonds Among Few Asset Classes Withstanding Meltdown
A bond market designed around natural catastrophes is proving remarkably resilient to a man-made market meltdown. While most markets have seen deep selloffs since Donald Trump’s “Liberation Day” tariff announcement, investors in catastrophe bonds have sailed through with hardly a …