Fire destroyed Miami Heat coach Erik Spoelstra’s home last week, with officials saying more than 20 units were dispatched in what became a frantic, futile effort to save the property. Nobody was in the home when the fire broke out, …

Insurance Journal’s Risky Future series is hosting the “AI Tools for MGAs” Demo Day, a series of free AI tool demonstrations designed exclusively for managing general agencies. The latest online event offers MGAs an opportunity to evaluate innovative and practical …

The Missouri Department of Commerce and Insurance (DCI) sent a bulletin telling insurers that they should avoid non-renewals and cancellations for master policies issued to condominiums that experienced damage from severe storms this year. DCI sent out the addendum on …

Cornell University said it reached an agreement with the White House to restore about $250 million in federal funding, becoming the latest elite school to negotiate relief in response to the Trump administration’s campaign to remake higher education. The Ithaca, …

Onex Corp.’s top executive says the alternative asset manager is open to making further large bets on insurance companies following its move to team up with American International Group Inc. on a major deal. Toronto-based Onex and AIG agreed last …

California Attorney General Rob Bonta announced that California secured a $3.25 million settlement with a software maker for failing to protect students’ data. The settlement also involves two other states, amounting to a total of $5.1 million and injunctive terms …

Investors in Jamaica’s catastrophe bond now face a 100% payout after Hurricane Melissa set off a full trigger event, according to the World Bank. Jamaica’s $150 million cat bond, which was arranged by the World Bank, is designed to provide …

Marsh McLennan Agency (MMA), headquartered in White Plains, New York, appointed Adam Balentine as President of National Business Insurance. Based in Kansas City, Missouri, Balentine leads the development of strategic growth initiatives for MMA’s property and casualty business, oversees the …

The Fidelis Partnership (TFP), the Bermuda-based managing general underwriter, announced the launch of a consortium that targets risks associated with the construction of AI data centers. With estimates suggesting that the AI data center market could rapidly represent billions in …

An explosion at a hydrogen and nitrogen product manufacturer in Mississippi on Wednesday caused an ammonia leak and forced nearby residents to evacuate, officials said. Mississippi Gov. Tate Reeves said in a post on the social platform X that emergency …

AM Best has placed under review with positive implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Louisiana Farm Bureau Mutual Insurance Company (Louisiana Farm Bureau), an action that follows the …

A former South Carolina state lawmaker and injury lawyer has been indicted on federal allegations that he schemed to defraud his legal clients. According to court papers, a federal grand jury on Wednesday indicted former Rep. Marvin Pendarvis, a Democrat …

More than six years after a Boeing 737 Max jetliner crashed in Ethiopia, the first civil trial related to the disaster that killed all 157 people on board was set to proceed. Boeing has settled most of the dozens of …

Zurich Insurance Group is continuing to expand its middle market and specialty footprint by investing heavily this year in targeted recruitment of “top-tier underwriting talent” across the company. “In the U.S. alone, we have hired more than 100 middle market …

A jury in Newport News, Virginia has awarded $10 million to a teacher who was shot by a 6-year-old student. Abby Zwerner, who was shot in January 2023 in her first-grade classroom, had asked for $40 million against a former …

Boeing Co. will avoid a criminal charge over two fatal 737 Max crashes after a federal judge paved the way for a $1.1 billion settlement agreement, handing the embattled manufacturer a victory in a long-running legal battle. US District Judge …

NFP Names Roberts Northeast SVP NFP, headquartered in New York City, appointed David Roberts as senior vice president, surety, in its Northeast region. With over three decades of experience managing commercial risk, Roberts, who is based in New Jersey, brings …

Bristol Myers Squibb reached a $239 million settlement of claims that former Celgene shareholders were defrauded about prospects for the psoriasis drug Otezla, and multiple sclerosis treatment now known as Zeposia. A preliminary settlement of the 7-1/2-year-old class action was …

The Caribbean parametric insurer, CCRIF SPC, announced it will make a second payout of US$21.1 million to the government of Jamaica – a policy triggered by excess rainfall from Hurricane Melissa. This payout follows the CCRIF’s first record payment of …

The global private credit market currently has no systemic risks, while Asia offers the biggest growth opportunities, a senior Bain Capital private credit executive told Reuters. Concerns about weak lending standards in credit markets have resurfaced after the recent collapses …