Swiss Re Shares Drop After New Profit Target Falls Short of Expectations
Swiss Re shares dropped 7.5% on Friday after the world’s second-largest reinsurer announced a new profit target that fell short of market expectations. The Zurich-based company said it was aiming for group net income of $4.5 billion next year, up …
Standard Chartered Settles £1.5 Billion Iranian Sanction Suit in London
Standard Chartered Plc has settled an investor lawsuit worth £1.5 billion ($2 billion) over allegations it systematically breached sanctions against Iran to win new business. In a London Court of Appeal ruling over disclosure published on Friday, the judge acknowledged …
Will it Take a Catastrophe for Nations to Take Issue of Space Debris Seriously?
China routinely sends astronauts to and from its space station Tiangong. A crew capsule is about to undock from the station and return to Earth, but there’s nothing routine about its journey home. The Shenzhou-20 capsule will carry no crew, …
Cloudflare Says It Fixed Outage That Slowed Banking Sites, Zoom
Cloudflare Inc. said it has fixed a problem that led to the websites for several banks, Shopify, Zoom and LinkedIn to go down Friday. “A fix has been implemented and we are monitoring the results,” the San Francisco-based company said …
Report: Climate Change, Weather Impacts on Household Budgets Up to $900 Yearly
A working paper from three well-known economists shows the impacts of global warming and particularly extreme weather on the budgets of American households is up to $900 per year. The paper was authored by former Treasury Department officials Kimberley Clausing, …
Apartment Building Fires Displace 70 Massachusetts Families; No Injuries Reported
Both of the apartment building fires that displaced 70 families in Holyoke this week appear to be accidental but the exact causes remain under investigation, according to city and state fire officials. Holyoke Fire Chief John Kadlewicz and State Fire …
Markets/Coverages: Bold Penguin Adds Parametric Coverage With Adaptive Partnership
Bold Penguin announced a partnership with Adaptive Insurance, expanding coverage options available through the Bold Penguin Placement Desk. Adaptive is pioneering the path to resilience in the face of emerging climate risks, starting with their GridProtect parametric power outage coverage. …
Viewpoint: Healthcare Cyber Insurance at an Inflection Point
The cyber insurance market is reaching an inflection point where underwriting companies must differentiate healthcare from other industries in how the risk is evaluated, priced, and how claims are managed. Healthcare cyber claims data tells a consistent and troubling story: …
The Rise of AI Reasoning Models Comes With a Big Energy Tradeoff
Nearly all leading artificial intelligence developers are focused on building AI models that mimic the way humans reason, but new research shows these cutting-edge systems can be far more energy intensive, adding to concerns about AI’s strain on power grids. …
‘Dream Is in Sight:’ Chamber, Reinsurers, Insurers Urge Florida to Stay the Course
The message from the Florida Chamber of Commerce Insurance Summit was loud and clear: Don’t mess with legislative changes that have all but restored the state’s property insurance market. And while you’re at it, don’t repeal Florida’s personal injury protection …
People Moves: Affordable American Insurance Hires Haskett as Sales VP
Affordable American Insurance Inc. naned Ross Haskett vice president of sales. Haskett has a decade of experience in insurance-industry lending and agency financing, including senior leadership roles at Westfield Bank and Live Oak Banking Company. His background includes positions ranging …
Arizona Study Group Issues Report on Homeowners Insurance and Wildfire Risk
A report from a regulator-created group found that a multifaceted approach to addressing wildfires and lack of insurance affordability in Arizona should be tackled with a multifaceted approach that includes homeowners, communities and the state working in tandem to implement …
California AG Settles With National Sanitation Company Over No-Poach Agreements
California Attorney General Rob Bonta settled with a national cleaning and sanitation company to resolve allegations that the company used unlawful no poach agreements. The settlement is against Packers Sanitation Services Inc. LTD., now doing business as Fortrex. As part …
Wealthy County in New York Must Pay $112 Million Over Immigrant Rights Violations
New York’s Suffolk County, home to the ultra-wealthy Hamptons and the bucolic North Fork, must pay $112 million in damages to immigrants after a court ruled that their detention in local jails violated their rights. The Long Island county disclosed …
People Moves: Walsh to Become President, CEO of Keystone; SageSure Appoints Sence
Keystone, headquartered in Mechanicsburg, Pennsylvania, will appoint Mike Walsh as president in the coming months. Patrick Kinney will continue to serve as CEO of the independent agency network and platform during this period. Once the transition is complete, Walsh will …
Political Consultant Whose AI Robocalls Mimicked Biden Defies Court Order
A political consultant who sent artificial intelligence-generated robocalls mimicking former President Joe Biden to New Hampshire Democrats said he will not pay $22,500 to three voters despite a recent federal court order. The order, issued November 21 n a lawsuit …
TSLA Announces Election of Officers & Directors at 2025 Annual Meeting
The Texas Surplus Lines Association, Inc. announced the election of the following Officers and Directors at its 70th Annual Meeting held at the Four Seasons Hotel Austin on November 10, 2025. President – Terence Babler, Vice President, Property Broker Brown …
Amynta Group Completes Acquisition of Louisiana’s International Sureties
Amynta Group has completed its acquisition of commercial surety broker Global Surety, LLC, International Sureties Limited and International Sureties SARL (collectively, “International Sureties”). International Sureties is a Louisiana-based specialty surety broker, providing a broad range of commercial surety products, including …
Hong Kong Fire to Hurt Taiping Insurance Earnings, Fitch Says
The deadly fire that ripped through seven high-rise towers in Hong Kong is expected to result in a surge in near-term claims among insurers, and hit earnings of the complex’s main underwriter, an affiliate of China Taiping Insurance Holdings 0966.HK, …
People Moves: Westfield Specialty International Taps Zurich’s Watson to Lead New Cyber Offering; Liberty Names Delvos From Corvus as Head of Cyber and Tech E&O, Europe
This edition of International People Moves details appointments at Westfield Specialty International and Liberty Specialty Markets. A summary of these new hires follows here. Westfield Specialty Int’l Taps Zurich’s Watson to Lead New Cyber Offering Westfield Specialty International has named …