Ron Perelman told a judge that five of his paintings totaling over $400 million in value lost their luster from a fire in his Hamptons home, at the trial of his lawsuit seeking to force his insurers to cover the …

Finland’s Sampo Oyj appointed Morten Thorsrud to succeed retiring Torbjorn Magnusson as chief executive officer, in a sign of continuity at the helm of the property and casualty insurer. Thorsrud, who currently runs the If P&C unit within the group, …

A coalition of pension funds and insurance companies holding a combined $9.5 trillion of assets has called on investors to ensure their portfolios aren’t supporting or enabling deforestation. The Net-Zero Asset Owner Alliance, whose signatories include Allianz SE and the …

Trucordia announced that it has completed a comprehensive debt refinancing that it says significantly enhances the company’s capital structure and positions it for continued growth. The transaction closes concurrently with the $1.3 billion strategic investment from Carlyle announced earlier this …

A proposed decade-long moratorium on state regulation of artificial intelligence has gained the attention of many, including those within the insurance industry. The 10-year prohibition of AI regulation is contained within the sweeping tax bill, “One Big Beautiful Bill,” and …

The Supreme Court on Monday ordered a New York court to take a new look at whether some religious organizations should be excluded from a state regulation requiring health insurance plans to cover abortions. The justices acted after the court …

This edition of International People Moves details appointments at Hamilton Re and Hamilton Global Specialty as well as Aon. A summary of these new hires follows here. Hamilton Re, Hamilton Global Specialty Name New CEOs, as Graves Retires Hamilton Insurance …

An Oklahoma man faces felony charges for illegally growing marijuana, Attorney General Genter Drummond’s office announced. Hui Tang, 51, of Kingfisher, was arrested in the wake of a May 29 raid by The Attorney General Office’s Organized Crime Task Force. …

A powerful storm system brought severe weather across parts of the Central Plains and Midwest early this week, with more storms forecast for Wednesday. A moist and unstable atmosphere led to significant rainfall, hail and tornadoes in Minnesota on Monday, …

In any other year, May 14 may well have been an energy disaster in Texas. Temperatures climbed to seasonal levels not seen in over a century: 92F in Dallas, 95F in Houston and 104F in Laredo. Air conditioners hummed en …

A real estate investment firm isn’t covered for losses of rental income and soft costs over a delayed Missouri apartment construction project after the Eighth Circuit determined the firm’s status as an “Additional Named Insured” doesn’t qualify for such losses. …

China’s financial opening up and rapidly growing consumer market benefit the country and provide better asset allocation opportunities for global capital, Li Yunze, the head of China’s financial regulator, said in Shanghai on Wednesday. Total assets under foreign banks and …

The commercial shipping industry is chasing a novel carbon-free propulsion technology as it pursues a lofty climate goal: nuclear power. Shipping accounts for more planet-warming greenhouse gas emissions than Japan. The sector is responsible for 3% of all emissions globally, …

U.S. homeowners insurance rates rose 40.4% over the past six years, with the biggest increases hitting in the last two years, a new report shows. LendingTree’s 2025 State of Home Insurance Report shows rates from 2019 through 2021 remained stable, …

Three years after it purchased BenefitMall, Alabama-based CRC Group is rebranding its employee benefits division as CRC Benefits, the company announced this week. The change marks a significant step in aligning the division with CRC Group’s broader go-to-market strategy and …

AM Best has downgraded the Financial Strength Rating to B- (Fair) from B++ (Good) and the Long-Term Issuer Credit Ratings to “bb-” (Fair) from “bbb” (Good) of Oregon Mutual Insurance Company and Western Protectors Insurance Company, which are domiciled in …

Erie Insurance said it has “seen no evidence of ransomware and there is no indication of ongoing threat actor activity” in a June 17 update on its 10-day long network outage. That statement would appear to contradict claims in two …

California Insurance Commissioner Ricardo Lara named new leadership of the Insurance Diversity Task Force. The 15-member task force elected its newest chair to be Vikita Poindexter, CEO of Poindexter Consulting Group, and vice chair to be Dr. Fabiola Cobarrubias, CEO …

The U.S. Department of Labor (DOL) has reached an agreement with an Idaho grocery store requiring the employer to pay $250,833 in civil money penalties and $5,078 in back wages and damages—and take steps to ensure future compliance with federal …

The pathway to M&A activity/liquidity in the insurance brokerage industry traditionally has followed a common pattern: small to mid-sized brokers were either traded between financial sponsors or bolted onto a larger strategic partner with minimal friction. While these approaches have …