US efforts to open shipping channels in the Strait of Hormuz will allow a gradual increase in vessel transit, though security remains volatile, Chubb Ltd. Chief Executive Officer Evan Greenberg said. “It’s from day to day, hour to hour,” Greenberg, …

AM Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a” (Excellent) from “a-” (Excellent) of Columbia Mutual Insurance Company and its affiliates, collectively referred to …

Siding with SpaceX and the General Land Office, the Texas Supreme Court on Friday ruled that environmental groups did not have a right to sue to preserve public access to a beach that has been closed during rocket launches. The …

Ohio’s law requiring children under 16 to get parental consent to use social media apps must be restored, a divided panel of the Sixth Circuit Court of Appeals ruled last week. The decision comes as a blow to NetChoice, which …

The business jet barreled cockeyed down the dark highway, knocking down one light pole after another, an orange glow of sparks trailing it. From a distance, Ivan Franco thought it must be a car. But as he approached in his …

Platinum Specialty Underwriters, a specialty underwriting platform announced the addition of two experienced property insurance leaders, Bryan McGarry and Adam Berger, to support the continued growth and expansion of its property capabilities with program launch later this summer. McGarry joins …

The U.S. West and Gulf Coast are set to broil this summer while the rest of the nation may face dreary and cool days — thanks in part to El Niño. The U.S. Climate Prediction Center sees the western and …

Baby formula maker Nara Organics said it is voluntarily recalling all of its infant formula, currently available in the United States, over potential risk of bacterial contamination. The company said the U.S. FDA and CDC contacted it late Friday and …

US regulators have taken their biggest step yet to speed the connection of data centers to the country’s grids while simultaneously attempting to slow surging utility bills that have angered Americans. The Federal Energy Regulatory Commission approved a series of …

The Mississippi Insurance Department has fired its top examiner, a month after he was implicated in a multimillion-dollar embezzlement scandal at his wife’s credit union. Chad Bridges, the director of financial and market regulation at the insurance department since early …

The death of a young tourist who jumped from a runaway horse carriage in Central Park has intensified calls to ban the old-time attraction from one of New York City’s most recognizable destinations. Romanch Mahajan, 18, died after he got …

A property management company is paying $7 million for what the California Attorney General calls an “algorithmic rent alignment scheme.” California Attorney General Rob Bonta worked on the settlement as part of a coalition of nine attorneys general with LivCor …

AM Best rating analysts have revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Juniata Mutual Insurance Co. in McAlisterville, Pennsylvania. AM Best …

The fire threat across the U.S. West will rise Friday and remain dangerous through Saturday for many areas, including Northern California, as lightning strikes risk igniting dry vegetation. Critical fire weather conditions and dry lightning will prevail across the western …

This edition of International People Moves details appointments at global re/insurers Arch Capital Group and Sompo. A summary of these new hires follows here. Arch Capital Group Ltd., the Bermuda-based provider of insurance, reinsurance and mortgage insurance, announced the promotions …

Trading platform Nasdaq Private Market alleged that its Vancouver-based competitor Hiive has stolen trade secrets and infringed on its intellectual property in a lawsuit. The suit, filed Tuesday in Manhattan federal court, adds new allegations of trade secrets to a …

The North Carolina Ethics Commission has dismissed a complaint against Insurance Commissioner Mike Causey, brought by a former employee who accused him of sexual harassment, news outlets reported. “After review and discussion as necessary, the Panel concluded its preliminary inquiry …

Florida Gov. Ron DeSantis has signed a bill that will create a commercial clearinghouse for Citizens Property Insurance policies, a bill that a number of brokers and agents have called “unnecessary” and little more than a sop to one major …

A teenager thrown to the ground Wednesday when a Central Park carriage horse bolted away from its driver has died, according to police. The 18-year-old was riding in the horse-drawn carriage with three other passengers when the accident happened just …

A new Lloyd’s market consortium has been launched to provide additional marine war risk insurance capacity for vessels and cargo transiting the Strait of Hormuz, Lloyd’s announced. Chubb will serve as lead underwriter, supported by participating Lloyd’s syndicates and specialist …