Markets/Coverages: DUAL UK Enhances Cyber Binder With Increased Limits
DUAL has significantly strengthened the scope of its global cyber and technology capabilities, offering increased primary limits for risks with revenues up to £1 billion and enhanced excess limits for risks up to £5 billion. Backed by a number of …
China’s Ping An Seeks to Sell $1 Billion Software-Focused PE Assets
China’s biggest insurer Ping An Insurance Group is seeking to reduce software-focused private equity exposure by selling its stakes in some funds, according to people familiar with the matter. The insurer has tapped Campbell Lutyens to offload stakes worth about …
Wall Street Banks Try Out Anthropic’s Mythos
Wall Street banks are starting to test Anthropic PBC’s Mythos model internally as Trump administration officials encourage them to use it to detect vulnerabilities. While JPMorgan Chase & Co. was the only bank named as part of an initiative to …
An Omaha Sinkhole Went Viral but Hundreds of Others Fall Under the Radar
As Harmon Maher walked along the Keystone Trail in central Omaha one morning in February, he spotted something odd: The creek next to the path, normally a gray-green color, ran bright orange. It was full of sediment, probably from some …
Oklahoma State Softball Team Bus Involved in Fatal Crash
Oklahoma State’s softball team took some time to process a fatal crash involving its team bus earlier this week and will be back on the field Friday. The team had been traveling to Wichita, Kansas, on Wednesday afternoon when its …
Lodestar Launches as Independent TPA Brand Within Old Republic
Old Republic International Corporation announced the launch of Lodestar Claims & Risk Services, Inc. as an independent brand and standalone operating company within Old Republic, marking the first time in more than 30 years that the organization’s third-party administrator (TPA) …
1 Killed, 6 Injured in Shooting at Chick-Fil-A in New Jersey
A shooting at a Chick-Fil-A restaurant in Union Township, New Jersey last evening took one life and injured six others. According to the Union County Prosecutor’s Office (UCPO), the shooting happened at approximately 9 pm on the Chick-Fil-A on Route …
Miami’s Mandarin Demolished to Make Way for Luxury Towers
In a young city like Miami, a quarter century can seem like a long time. For the Mandarin Oriental hotel, it was long enough to generate nostalgic laments and a farewell bash. The waterfront hotel, which opened in 2000, was …
Iran Threatens to Retaliate Against Gulf Ports for US Blockade
The U.S. military said it will begin a blockade of ships leaving Iran’s ports on Monday, and Tehran threatened to retaliate against ports of its Gulf neighbors, after weekend talks failed to reach a deal to end the war, leaving …
Bank of England Set to Discuss Anthropic’s Mythos With Banks
The Bank of England plans to discuss the impact of Anthropic PBC’s new AI model with financial institutions, as UK regulators join their peers in the US and elsewhere in raising alarms over the risks posed by the tool. Anthropic’s …
Oil Tankers Steer Clear of Hormuz Ahead of US Blockade
Two Iranian-linked tankers exited the Gulf on Monday as other vessels began avoiding the Strait of Hormuz after the U.S. said it would start blockading Iranian ports later in the day, unsettling shipping markets at a vital energy chokepoint, shipping …
Trump Blockade of Iran Ports Risks Widening War to High Seas
US President Donald Trump’s threat to blockade the Strait of Hormuz after talks with Iran collapsed over the weekend risks widening a war now entering its seventh week, lifting oil prices and raising the prospect of further economic pain around …
Trump Approves Disaster Requests for at Least 7 States; Others Wait
The Trump administration approved major disaster declaration requests for at least seven states this week, according to information released Saturday by the Federal Emergency Management Agency, allowing affected communities to access federal support. About 15 requests for assistance from others …
OpenAI Identifies Security Issue Involving Third-Party Tool Axios
OpenAI said on April 10 it had identified a security issue involving a third-party developer tool called Axios and is taking steps to protect the process that certifies its macOS applications are legitimate OpenAI apps. The ChatGPT maker said it …
Worsening Ocean Heat Waves Are ‘Supercharging’ Hurricane Damage, Study Finds
Marine heat waves are supercharging damage caused by hurricanes and tropical cyclones across the globe, a new study found. Researchers looked at 1,600 tropical cyclones — the broader category of storms that includes hurricanes — that made landfall since 1981 …
Causey Says Recommended Lindberg Restitution ‘Not Enough’ for Harm Caused
The more than $1 billion that a special master has recommended that jailed insurance mogul Greg Lindberg pay in restitution may seem like a huge amount of money. But it falls well short of covering the wreckage left behind by …
Electric Bills in Coal Country West Virginia Now Top Mortgage Payments
RAINELLE, W.Va. (AP) — Every month, Rebecca Michalski takes a deep breath before opening her electric bill. She lives on a fixed income, and heating her small house this winter has been staggering: Her February charge was $940.08 — more …
Hedge Fund Money Is Reshaping a 180-Year-Old Insurance Model
Alternative investment managers are pouring unprecedented sums of money into the market for property cover, and reshaping a 180-year-old reinsurance model in the process. Allocations to catastrophe bonds and other insurance-linked securities popular among hedge funds and institutional investors rose …
Vineyard Wind Sues to Block GE Vernova From Abandoning Wind Farm
Vineyard Wind has filed a lawsuit seeking to block a wind turbine-supplying unit of GE Vernova rom terminating agreements and abandoning work on a $4.5 billion offshore wind farm in Massachusetts on the eve of completion. Vineyard Wind, a joint …
California Utility Bills Are 20% Higher Due to Wildfires
The escalating cost of wildfires now adds $41 to the average monthly power bill for residential customers of California’s largest utility, according to a government report that calls for a systemic overhaul of how the state responds to conflagrations as …