A constitutional amendment that would have legalized recreational marijuana in Florida won a majority of votes Tuesday but fell short of the required 60% needed to pass. The vote snuffs out what was expected to be a rush to set …

Chaucer has launched a new nuclear insurance policy that provides nuclear power plants (NPP) with insurance cover for cyberattacks. Called CyNuC, the malicious act cyber insurance policy was developed specifically by Chaucer’s Lloyd’s Syndicate 1176 in conjunction with the insurer’s …

Donald Trump’s return to the White House after winning the Nov. 5 U.S. presidential election may reshape American business. Much depends on whom he appoints as deputies and cabinet members, including the role of Tesla CEO Elon Musk, and what …

North Carolina Insurance Commissioner Mike Causey was reelected to a third term, gaining 52% of the vote to Democratic opponent Natasha Marcus’ 48%. News reports and the Associated Press indicated that, by early Wednesday, Causey had picked up almost 2.9 …

Ryan Specialty, the Chicago-based specialty insurance services firm, has completed the acquisition of Innovisk Capital Partners from Abry Partners and BHMS Investments. Financial details of the deal were not disclosed. London-based Innovisk has become part of Ryan Specialty Underwriting Managers …

Singapore Telecommunications Ltd., Singapore’s largest mobile carrier, was breached by Chinese state-sponsored hackers this summer as part of a broader campaign against telecommunications companies and other critical infrastructure operators around the world, according to two people familiar with the matter. …

Spanish Prime Minister Pedro Sanchez announced the first financial package for victims of the storms that killed more than 200 people in the country’s eastern region of Valencia. Spain will earmark as much as €10.6 billion ($11.5 billion) for its …

Assicurazioni Generali SpA is considering a deal to acquire New York-based credit investment firm MGG Investment Group, people familiar with the matter said, as the Italian insurer looks to expand in the private asset business. Generali has held early talks …

H.W. Kaufman Group, headquartered in Farmington Hills, Michigan, promoted 11 members of its North American team to new roles. The promotions include: Rich Gobler, promoted to executive vice president, Burns & Wilcox; from senior vice president. Manny Manuelidis, promoted to …

All major commercial lines premium renewal rates were lower in October than in August, according to the latest monthly Ivans Index. Premium renewal rate change by line of business for October 2024 highlights include: Commercial Auto: 9.62%, down slightly from …

American International Group CEO Peter Zaffino said he expects the reinsurance market to remain above losses generated by the frequency and severity of natural catastrophes. Losses will instead continue to be absorbed by primary insurance companies, he told analysts during …

Novatae Risk Group, a managing general agency, program manager and wholesale brokerage, said it has launched its new miscellaneous professional liability program with a focus on fast quoting for brokers and exceptional claim service for insureds. With underwriting handled in-house …