The wreckage caused by Hurricane Melissa in Jamaica is expected to cost insurers $1 billion to $3 billion, according to property intelligence company Cotality. The insured losses are a fraction of the total property damage, which Cotality estimates at $2 …

Philadelphia Insurance Companies announced the acquisition of the Collector Vehicle Division from Ignyte Insurance, a Carlyle backed portfolio company. The transaction, valued at $615 million, is the largest acquisition in the 63-year history of Philadelphia Insurance Companies. The deal includes …

The city of Detroit has agreed to pay $5.85 million to settle a lawsuit over the death of a pedestrian who was struck by a city bus, the second fatality involving the same driver since 2015. Wayne County Judge Kathleen …

The Texas State Office of Risk Management Board of Directors announced Sara Hays as the newly appointed Executive Director. Hays joins the Office after many years of state service, including Chief of Staff for two state representatives and Budget and …

A North Dakota judge has ordered Greenpeace to pay damages of $345 million, reducing an earlier jury award after it found the environmental group and related entities liable for defamation and other claims in connection with protests of an oil …

Thick smoke blanketed a rural community in southern Texas and many residents were ordered to evacuate as firefighters worked to contain a blaze Wednesday evening, officials said. The Mill Fire in Gregory, Texas, about 150 miles (80.5 kilometers) southeast of …

AM Best has maintained the under review with negative implications status for the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of NASW Insurance Co. (NASWIC) headquartered in Washington, D.C. AM Best said …

Insurance broker Aon reported strong third quarter revenue of $4.0 billion, an increase of 7% from $3.7 billion reported for Q3 2024. Organic revenue rose 7% during Q3, which was level with last year’s third quarter, but beat Wall Street …

A huge nuclear deal announced by the Trump administration earlier this week provides a multi-billion-dollar incentive for the U.S. government to issue permits and approvals for new Westinghouse reactors—an unprecedented structure that critics say poses environmental and safety risks. Under …

North Carolina authorities on Thursday arrested a public adjuster, accusing him of absconding with a $133,000 payout from the insurance carrier following a contentious roof claim. Tyler Dionysius Englin, 26, of Garner, North Carolina, was charged with embezzlement after the …

Eight months after it declared a moratorium on the licensing of captive insurance companies and risk retention groups, the Alabama Department of Insurance has posted a clarification. The March bulletin and an extension of the moratorium issued in September do …

A $180,000 Range Rover customized for NBA legend Shaquille O’Neal was stolen in Georgia earlier this month, and law enforcement is still on the hunt for it. The Lumpkin County Sheriff’s Office in northeast Georgia said investigators believe the SUV …

The Trump administration is moving to overrule any state laws that may protect consumers’ credit reports from medical debt and other debt issues. The Consumer Financial Protection Bureau has drafted what’s known as an interpretative rule related to the Fair …

In the rush to improve customer experience, many insurers have overlooked a critical group of stakeholders: the independent brokers and agents who sell their products every day. With this group now numbering over 1 million individuals in the U.S., they …

Web Connectivity Ltd. (WCL), a Zywave company, announced the launch of its enhanced platform for treaty risk placement in Bermuda, marking a milestone in the digital transformation of the reinsurance market. Developed in close collaboration with leading RI brokers and …

The Fidelis Partnership (TFP) announced the launch of Syndicate 2126 in partnership with funds managed by Blackstone, the alternative asset manager and private equity company, following in-principle approval from Lloyd’s. The syndicate will write across a number of property, specialty …

Hurricane Melissa is forecast to dissipate in the Atlantic Ocean next week, bringing wet and windy weather to northern Europe after wrecking havoc across the Caribbean. The record-setting storm left a trail of destruction in Cuba, Haiti and Jamaica, causing …

As Hurricane Melissa sweeps past Bermuda, new satellite data of Jamaica has revealed devastation for tourist center Montego Bay and much of the Western part of the country. At least 40% of the buildings and roads in the worst-hit areas …

Soaring temperatures are killing nearly 550,000 people around the world each year, part of a heat death toll that’s climbed more than 20% on a population-adjusted basis since the 1990s, according to the latest edition of the Lancet’s annual report …

Canopius Group, headquartered in Chicago, named John Tiesi as U.S. Head of Financial Lines. Tiesi leads the financial lines portfolio across Canopius’ U.S. operations. Tiesi has over 25 years of experience in financial and professional liability underwriting, with expertise in …