INSURANCE NEWS
Trump’s Tariffs Send Shockwaves Across Global Economy
President Donald Trump imposed the steepest American tariffs in a century as he steps up his campaign to reshape the global economy, sparking threats of retaliation and a selloff in markets around the world. Trump announced Wednesday he will apply …
Specialty and Media MGA Nirvana to Acquire MGA Pulse
Managing general agent Nirvana announced it is acquiring Pulse, an MGA specializing in non-standard accident, health and life, and sports & leisure insurances. Financial terms of the deal were not disclosed. Nirvana underwrites a global book of business across media …
Deadly Storms Bring Flooding and Destruction to Southeast, Midwest
Deadly storms and flooding rains left a path of destruction across 14 states in the US South and Midwest, knocking out power to more than 400,000 customers. Record rain fell in Memphis and eastern Missouri overnight and more is expected …
North Carolina Appeals Court Won’t Budge on Intrepid Insurance Name Mix-up
What’s in a name? Enough confusion to sink a subrogation lawsuit and appeal brought by the insurer for a burned-up Hardee’s restaurant, the North Carolina Court of Appeals said Wednesday. “…The trial court properly determined that Intrepid Agency lacked standing …
Trump’s Auto Tariffs to Cover Hundreds of Billions of Dollars of Vehicle, Parts Imports
U.S. President Donald Trump’s 25% auto tariffs will cover hundreds of billions of dollars worth of imports of vehicles and auto parts imports annually, according to a Reuters analysis of tariff codes included in a federal register notice on Wednesday. …
Six Injured After Truck Crashed Into Building and Pedestrians in Boston
BOSTON (AP) — A box truck crashed into a building Tuesday afternoon in Boston’s Chinatown neighborhood and hit several pedestrians before flipping onto its side, city officials said. The driver and five others were injured in what authorities said appears …
Fire Kills a New York Cat Sanctuary Founder and 100+ Rescued Felines
A fire burned down a cat shelter in suburban New York, killing its founder and more than 100 of the felines he rescued and sparking a rescue operation for dozens of cats still roaming the destroyed property. As many as …
Arthur J. Gallagher & Co. Acquires Brokers in UK and Australia
Arthur J. Gallagher & Co. this week announced two acquisitions – of the UK’s Bircroft Insurance Services and Australia’s Tresidder Insurance Brokers. Financial details of the transactions were not disclosed. London-based Bircroft is a specialist insurance broker providing retail and …
Britain’s Co-op Group Says Retail Crime Cost it $105 Million in 2024
Britain’s Co-op Group said on Thursday that losses from shoplifting in its food retail business rose by over 14% to 80 million pounds ($105 million) in 2024, or more than half of its adjusted operating profit. The group, which trades …
Trump’s DEI Purge Drives 34% Drop in Pro-ESG Investor Proposals
President Donald Trump’s crackdown on diversity, equity and inclusion helped prompt a plunge in shareholder resolutions from progressive investors that typically push companies on social reform. Motions filed by groups in favor of environmental, social and governance policies dropped 34% …
Cayman Islands Builds $74 Billion Insurance Hub That Irks Apollo Global Management
The small crowd in pastel polo shirts and sunglasses boarded the catamaran for an afternoon cruise on the Caribbean’s sapphire waters. Tucked under their drinks were napkins emblazoned with a slogan akin to a pickup line: “Let’s go beyond business …
Chinese Military Conducts Large-Scale Drills Around Taiwan
The Chinese military conducted large-scale drills in the waters and airspace around Taiwan on Tuesday that included an aircraft carrier battle group, as it again warned the self-ruled democracy against seeking formal independence. The exercises involved navy, air ground and …