The co-founder of Fermat Capital Management says the market for catastrophe bonds is drawing in new issuers at a rate that’s unlike anything he’s seen before. John Seo, managing director and co-founder of Connecticut-based Fermat — a hedge fund manager …

New York Governor Kathy Hochul has pulled her proposal to allow commercial robotaxi services in smaller cities outside New York, a spokesperson for the governor said on Thursday. “Based on conversations with stakeholders, including in the legislature, it was clear …

More than two-thirds of independent agencies plan to increase use of artificial intelligence in the next 12 months though just 8% said AI is currently embedded in their daily workflows, according to a new report from The Big “I” Agents …

Man-made climate change intensified the rain that fell over Spain’s Valencia region in 2024, when flash floods and landslides caused at least 230 deaths and an estimated €29 billion in damages ($34 billion). Global warming also meant that sudden and …

While floods are becoming more frequent in recent years, you should still be able to buy reasonably priced home insurance. That reassurance exists largely because of Flood Re. Launched in 2016, Flood Re is a national public–private reinsurance scheme that …

India temporarily extended permission for four Russian insurers to cover tankers calling at its ports, as the government seeks to sustain crude imports while also managing US pressure to end shipments from Moscow. The stopgap move lasts for one month, …

Markel announced a new collaboration with Upfort to provide eligible U.S. cyber policyholders with an expanded suite of tools to help them safeguard their businesses and help reduce the risk of cyberattacks. Upfort Shield, a multi-layer cyber defense platform, is …

Amwins Appoints Yuko and Shapiro to Lead New Hospitality Practice Amwins, headquartered in Charlotte, North Carolina, named Michelle Yuko and Joey Shapiro as leaders of its new hospitality practice, a dedicated industry-focused group designed to support retail partners. While continuing …

Live Nation Entertainment Inc. must face an antitrust trial on some claims brought by the US Justice Department and various states for allegedly monopolizing the live events market, after a federal judge rejected the company’s request to dismiss a case …

German biopharmaceutical company BioNTech sued Moderna in Delaware federal court on Thursday, alleging that Moderna’s COVID-19 vaccine mNEXSPIKE infringes a patent related to BioNTech and Pfizer’s competing shot Comirnaty. The lawsuit said that mNEXSPIKE, Moderna’s next-generation COVID shot approved by …

Higginbotham has hired Samuel Isaac Ritter, M.D., as medical director for employee benefits, adding a client-facing physician resource within its self-funded advisory work. As more employers move into self-funded plans, the questions landing on brokers are increasingly clinical: complex, high-cost …

A fast-moving wildfire in the Oklahoma panhandle doubled in size as it pressed into Kansas while winds threatened to shift and raise fire risks across West Texas and New Mexico. The Ranger Road Fire had consumed more than 283,000 acres …

The Delaware Supreme Court has re-opened the door for cyber insurers to pursue recovery of claims payments they made to their insureds who took matters into their own hands after their data hosting company allegedly failed to adequately respond to …

A contractor in Washington was fined $200,000 for putting workers at risk during a demolition project at a home in Bellevue, Washington. The Washington State Department of Labor & Industries cited Seattle Environmental Services LLC for knowingly exposing workers to …

A regional Coca-Cola seller and distributor violated federal law when it excluded male employees from an employer-sponsored event, the Equal Employment Opportunity Commission (EEOC) has charged in a lawsuit. According to the lawsuit, in September 2024, the Bedford, New Hampshire-headquartered …

Thornton to Lead Maryland Insurance Administration’s Property and Casualty Division Maryland Insurance Commissioner Marie Grant has announced the appointment of Courtney Thornton as associate commissioner of property and casualty, Brent Matthewson as chief data officer and Sharon Fountain as director …

A blast of mountain snow and flooding rain is falling over California, the last of a string of storms that brought much-needed moisture to the state yet triggered a deadly avalanche in the Sierras. Winter storm warnings stretch from the …

The water and power utility that serves the city of Los Angeles must face hundreds of lawsuits faulting its response to the massive 2025 wildfire that leveled one of the city’s premier seaside neighborhoods and caused tens of billions of …

Private equity firm Aquiline Capital said it has entered into a definitive agreement to sell independent insurance broker Relation to investment firm BayPine. Chicago-based Relation was ranked No. 24 in Insurance Journal’s Top 100 Independent Property/Casualty Agencies report with about …

Verisk’s fourth-quarter profit topped Wall Street expectations on Wednesday, with CEO Lee Shavel touting the quality of the firm’s proprietary data sets amid concerns around AI-driven disruption to the information services business model. The data analytics firm, which also provided …