Saudis and Houthis Exchange Strikes, Yemenis Flee by Boat as Middle East War Spreads
Saudi Arabia and Yemen’s Iran-backed Houthis exchanged fresh strikes across their border on Thursday and Yemenis took to boats in the Red Sea to escape fighting, as the spreading Middle East war created new threats to global oil supplies. Houthi-controlled …
UK Insurers Urge Bank of England to Rethink ‘Dynamic’ Stress Test
Britain’s insurance industry is urging the Bank of England’s regulatory arm to rethink its live crisis simulation, citing heavy reporting demands and unrealistic scenarios in a stress test that pushed firms “to their absolute limit.” The Prudential Regulation Authority’s first …
White House Weighs Incubator for Cyber Research, Startups
The Trump administration is weighing a plan to establish a government-led incubator aimed at investing in cybersecurity research and spinning out startups focused on developing tools for the government to use, according to people familiar with the situation. The White …
Gorman Named PIA National President
The National Association of Professional Insurance Agents has made David Gorman its president, succeeding Mark Suhr. Gorman, of Dallas, founded Red Gorman Insurance Services in 2018 and has a long history of service to the independent insurance agent community holding …
Hershey Defeats Lawsuit Over Reese’s Halloween Pumpkins That Lacked ‘Cool’ Carvings
Hershey won the dismissal of a lawsuit claiming it let down consumers because its Halloween-themed Reese’s pumpkins lacked the decorative carved designs shown on the packaging. U.S. District Judge Melissa Damian in Miami said the two Florida residents leading the …
AI’s Climate Footprint Draws Growing Concern From Asset Owners
Asset owners are increasingly concerned about the impact of artificial intelligence on the environment and society, according to a report by Morningstar Inc. In a survey of more than 500 pension funds, family offices, endowments, sovereign wealth funds and other …
Federal Legislation Targets Auto Insurance Fraud With Steep Penalties
Earlier this month, federal legislation was introduced to make motor vehicle collision fraud a federal crime, according to a joint press release by Congresswoman Laura Gillen (D-NY-04) alongside U.S Representatives Troy Nehls (R-TX-22), Josh Gottheimer (D-NJ-05) and Vince Fong (R-CA-20). …
The Body of the Last Victim of Hurricane Helene in Tennessee Has Been Found
The remains of the final missing Tennessee victim from Hurricane Helene were found two years after the storm devastated Appalachian mountain towns with floods that wiped away whole communities. Nancy Tucker, 76, disappeared along with her husband, Jimmy Tucker, when …
EU Says It’s Ready to Get Tough Against Chinese Trade Imbalances
European Union officials insist they need to see a credible effort from China to rebalance its trade relationship with the bloc by next month or they will use all “tools” at their disposal to fix the situation. EU trade chief …
Lemonade $10.5 Million Settlement Over License Number Data Breach Approved
A federal district court in New York has approved a $10.5 million class action settlement by digital insurer Lemonade over its exposing license numbers of as many as 190,644 drivers to third parties through its online auto insurance quote platform. …
Markets/Coverages: Summit Workers’ Comp Enters Maryland and Washington D.C
Workers’ compensation provider Summit has expanded its coverage into Maryland and Washington, D.C. Summit-managed carriers — Bridgefield Casualty Insurance Co., Bridgefield Employers Insurance Co. and Bridgefield Indemnity Insurance Co. — received regulatory approval to begin offering workers’ compensation coverage in …
New York Attorney General Urges AI Whistleblowers to Come Forward
New York Attorney General Letitia James encouraged workers at artificial intelligence companies to confidentially report activity they think is dangerous or illegal to her office. In a Thursday press release, James pointed to an online portal she said whistleblowers could …
Hawai’i Employers’ Mutual Giving $5M Divided to Policyholders
Hawai’i Employers’ Mutual Insurance Company Inc. is returning $5 million to qualifying policyholders this year, a move that the workers’ compensation insurer said marks the 20th consecutive annual dividend declared by its board. This payout also matches the largest dividend …
Ex-Youth Center Counselor Faces Sex Assault Trial in New Hampshire
A sexual assault trial started Monday for a New Hampshire man whose arrest more than seven years ago kicked off one of the biggest youth detention scandals in U.S. history. Former youth counselor Jeffrey Buskey, 60, of Litchfield, faces allegations …
People Moves: Burns & Wilcox Promotes Carvalho to Regional Vice President
Burns & Wilcox promoted Tom Carvalho to regional vice president. The promotion is effective Oct. 1. Carvalho will oversee Burns & Wilcox operations in Portland, Oregon; Seattle, Washington; and San Francisco, Sacramento and Fresno, California. He will report to Rich …
100 Years After Miami Hurricane, Similar Storm Would Top $200B in Losses—Swiss Re
The Atlantic has been pretty quiet so far this season, but one system east of Bermuda could soon develop into a tropical storm, the National Hurricane Center said Thursday. If the storm were to develop into a Category 5 hurricane …
Ag Tech Company to Pay $65K to Settle Discrimination Charges
Lely North America, Inc., an international agricultural technology company headquartered in Pella, Iowa, agreed to resolve a discrimination charge filed with the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. The EEOC’s charge investigation found that Lely violated …
Insurance Industry Charitable Foundation Names Timmins Southeast Region Chair
The Insurance Industry Charitable Foundation has named Sabrina Timmins, a senior vice president at CNA insurance, as chair of the foundation’s Southeast region. Timmins heads the South regional for Chicago-based CNA, one of the largest commercial insurers in the United …
Inactive Texas Oil and Gas Wells to Go Under Review
A legislative committee will hear from the Texas Railroad Commission on Tuesday as the agency prepares to update its rules for inactive oil and gas wells, now required under state law. The Railroad Commission regulates oil and gas production. It …
People Moves: Alliant Names Black to Midwest Employee Benefits Team; American Ag Points Ealey as VP, International Brand Awareness
Jeff Black has joined Alliant Insurance Services as Senior Vice President within its Employee Benefits Group. The Chicago-based consultant will advise a diverse portfolio of clients on human capital and benefits strategies designed to support growth, organizational transformation, and critical …
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