INSURANCE NEWS
Scouring the Strait of Hormuz for Mines Could Take Weeks
Ensuring the Strait of Hormuz is safe from mines could delay a return to normal shipping traffic by weeks following a deal to reopen the waterway, shipping and maritime security sources say. The operation by conventional minesweepers and state-of-the-art underwater …
US and Iran Say They’ve Agreed Deal to Reopen Hormuz This Week
The US and Iran said they reached an interim peace agreement to reopen the Strait of Hormuz and move further toward ending a war that’s killed thousands of people across the Middle East. The development caused equities and bonds to …
UK Forces Board Sanctioned Tanker in Russian Shadow-Fleet Raid
British forces boarded a sanctioned oil tanker in the English Channel early on Sunday, the first UK-led operation of its kind targeting Russia’s so-called shadow fleet. Royal Marine Commandos and officers from the National Crime Agency boarded the Smyrtos in …
Tata’s iPhone Parts Factory Contaminated Farmland Water, India Pollution Body Alleges
An Indian pollution regulator has alleged wastewater discharged from a Tata components factory for Apple’s iPhone has contaminated the groundwater for nearby farms and warned of a forced shutdown unless Tata gives a satisfactory explanation. India’s Tata Electronics is central …
Shipowners Seek Clarity on Hormuz Deal as 600 Vessels Eye Exit
A deal that could reopen the Strait of Hormuz within days has been met with caution among shipowners and traders, with many saying they would wait for more details in order to assess whether safe transits are possible after months …
Wall Street Is Gaining Access to New Catastrophe Models to Help Predict Wars
As Wall Street races to incorporate war into its risk scenarios, the same people modeling natural catastrophes are now adapting their methodology to help investors, banks and insurers predict military conflicts. Since 2008, the number of countries engaged in external …
OpenAI Under Investigation by Group of State Attorneys General, Source Says
A coalition of U.S. state attorneys general has opened a sweeping investigation into OpenAI, a source familiar with the matter said on Friday. The ChatGPT maker was served on Friday with a subpoena seeking documents related to a wide range …
Workers’ Refusal of Light Duty Does Not Have to Relate to Injury, Georgia Court Says
An injured employee in Georgia does not need to show that his reason for refusing light-duty work is injury-related, the Georgia Court of Appeals found in a decision that could continue to prove tricky for employers and insurers, especially during …
El Nino Is Here and Scientists Fear It’ll Bring Costly Heat, Floods, Droughts, Fires
El Nino, Nature’s chaotic climate agent, has formed in a warmed-up Pacific Ocean and is expected to grow to historic strength, meteorologists announced Thursday. Experts said the El Nino, a natural warming cycle, should further heat a globe already warming …
5th Circ. Affirms Conviction of Ex-Texas Police Chief in Insurance Fraud Case
A federal appeals court this month affirmed the conviction of a former Texas police chief who arranged the destruction of a personal vehicle, falsely reported it stolen, and received insurance proceeds. The United States Fifth Circuit Court of Appeals ruled …
US Ships Escort Oil Tankers Through Hormuz at Night, Burgum Says
US forces are helping move millions of barrels through the Strait of Hormuz under the cover of darkness, sometimes escorting more than 20 ships per night out of the vital waterway, US Interior Secretary Doug Burgum said Friday. Now that …
US P/C Industry Records $16 Billion Underwriting Income in Q1
The U.S. property/casualty industry reversed a $1 billion underwriting loss in the first quarter 2025 to post a $16.3 billion gain for the same period this year. According to a report from industry rating firm AM Best, net income doubled …