Latest News & Insights

Duffy Will Brief Congress Next Week on El Paso Shutdown

Transportation Secretary Sean Duffy said he will brief lawmakers on Capitol Hill next week about the temporary closure of airspace around El Paso, Texas, earlier this month. Duffy told reporters Friday that he stood behind the Federal Aviation Administration’s decision, …

Insurtech Qumis Secures $4.3M Seed Round

Qumis, a lawyer-built AI-driven platform for commercial insurance coverage intelligence, announced a $4.3 million oversubscribed seed round led by MTech Capital, with new strategic investor American Family Ventures and participation from all prior investors. Total funding reaches $6.75 million. The …

High Court Ruling on Trump Tariffs to ‘Ease Uncertainty,’ Says AM Best

AM Best said the U.S. Supreme Court’s ruling against President Donald Trump’s authority to impose sweeping tariffs will help to “ease uncertainty across the insurance industry.” “Managing through unknowns is a challenge to any industry and most observations and segment …

Aon Promotes Fraccalvieri as CEO of Global Facultative Re, Succeeding Laing; Arch Insurance Int’l Promotes Hope, Mani to Key Underwriting Roles in D&O and FI

This edition of International People Moves details appointments at Aon plc and Arch Insurance International. A summary of these new hires follows here. Aon Promotes Fraccalvieri as CEO of Global Facultative Re, Succeeding Laing Insurance broker Aon plc announced that …

Palantir Decamps to Miami Co-Working Space in Surprise Move

Palantir Technologies Inc.’s surprise announcement that it’s moving from Denver to Miami is even more surprising because, at least initially, it’s going to be anchored at a co-working space. A regulatory filing lists the company’s “principal executive offices” at an …

Michigan AG Secures Judgment Against Construction Company

Michigan Attorney General Dana Nessel announced her office has secured a consent judgment against a Michigan construction company for accepting deposits for construction projects that were never finished and then failing to return the funds. Nessel filed a lawsuit last …

Erie Insurance CEO NeCastro to Retire at Year End

Erie Insurance said Tim NeCastro, president and chief executive officer, will retire on Dec. 31 after 10 years leading the company. NeCastro, who was named CEO in 2016, led the company’s growth to nearly $13 billion in premium and more …

OSHA Fines Alabama Utility Contractor $257,700 After Deaths of 3 Workers

The U.S. Occupational Safety and Health Administration this week fined an Alabama utility contractor $257,700, six months after three workers died from sewage gas while installing sewer lines. Construction Labor Services, based in Eight Mile, near Mobile, Alabama, failed to …

TotalEnergies Asked to End Oil and Gas Exploration in Paris Lawsuit

TotalEnergies SE is fighting a lawsuit in Paris that seeks to block one of Europe’s top oil and gas producers from starting new fossil fuel exploration and extraction projects. A group of non-governmental organizations and the Paris town hall asked …

US Supreme Court Rejects Trump’s Global Tariffs

The U.S. Supreme Court struck down on Friday President Donald Trump’s sweeping tariffs that he pursued under a law meant for use in national emergencies, rejecting one of his most contentious assertions of his authority in a ruling with major …

Former Broker, Co-Defendant Sentenced to 20 Years in Fraudulent ACA Sign-Ups

The leaders of a $180 million scheme to sell Affordable Care Act insurance plans to homeless people and others who did not qualify were sentenced to 20 years in federal prison and full restitution. Cory Loyd, 47, who was a …

Ski Trip Hit by Avalanche Was Led by Outfit Offering Mountain Adventures Globally

The group of 15 backcountry skiers headed out on a three-day trek organized by Blackbird Mountain Guides into pristine wilderness near Frog Lake in California’s Sierra Nevada as a powerful winter storm moved into the state. The skiers made their …

Hedge Fund Fermat Says Surge in Cat-Bond Sales Is ‘Breathtaking’

The co-founder of Fermat Capital Management says the market for catastrophe bonds is drawing in new issuers at a rate that’s unlike anything he’s seen before. John Seo, managing director and co-founder of Connecticut-based Fermat — a hedge fund manager …

New York Governor Hochul Pulls Robotaxi Expansion Proposal

New York Governor Kathy Hochul has pulled her proposal to allow commercial robotaxi services in smaller cities outside New York, a spokesperson for the governor said on Thursday. “Based on conversations with stakeholders, including in the legislature, it was clear …

Two-Thirds of Independent Agencies Plan to Increase AI Use This Year, Survey Says

More than two-thirds of independent agencies plan to increase use of artificial intelligence in the next 12 months though just 8% said AI is currently embedded in their daily workflows, according to a new report from The Big “I” Agents …

Climate Change Made Deadly Valencia Floods More Intense

Man-made climate change intensified the rain that fell over Spain’s Valencia region in 2024, when flash floods and landslides caused at least 230 deaths and an estimated €29 billion in damages ($34 billion). Global warming also meant that sudden and …

How the UK Is Keeping Flood Insurance Affordable – Until 2039

While floods are becoming more frequent in recent years, you should still be able to buy reasonably priced home insurance. That reassurance exists largely because of Flood Re. Launched in 2016, Flood Re is a national public–private reinsurance scheme that …

India Grants One-Month Extension to 4 Russian Marine Insurers

India temporarily extended permission for four Russian insurers to cover tankers calling at its ports, as the government seeks to sustain crude imports while also managing US pressure to end shipments from Moscow. The stopgap move lasts for one month, …

Markets/Coverages: Markel Collaborates With Upfort on US Cyber; Business Risk Partners Launches SML Program

Markel announced a new collaboration with Upfort to provide eligible U.S. cyber policyholders with an expanded suite of tools to help them safeguard their businesses and help reduce the risk of cyberattacks. Upfort Shield, a multi-layer cyber defense platform, is …

People Moves: Yuko and Shapiro to Lead Amwins New Hospitality Practice; Pinion Insurance Names Selvig US CUO

Amwins Appoints Yuko and Shapiro to Lead New Hospitality Practice Amwins, headquartered in Charlotte, North Carolina, named Michelle Yuko and Joey Shapiro as leaders of its new hospitality practice, a dedicated industry-focused group designed to support retail partners. While continuing …

Live Nation Loses Bid for Full Dismissal of Antitrust Suit

Live Nation Entertainment Inc. must face an antitrust trial on some claims brought by the US Justice Department and various states for allegedly monopolizing the live events market, after a federal judge rejected the company’s request to dismiss a case …

BioNTech Sues Moderna for Patent Infringement Over COVID Shots

German biopharmaceutical company BioNTech sued Moderna in Delaware federal court on Thursday, alleging that Moderna’s COVID-19 vaccine mNEXSPIKE infringes a patent related to BioNTech and Pfizer’s competing shot Comirnaty. The lawsuit said that mNEXSPIKE, Moderna’s next-generation COVID shot approved by …

People Moves: Higginbotham Hires Ritter as Medical Director for Employee Benefits

Higginbotham has hired Samuel Isaac Ritter, M.D., as medical director for employee benefits, adding a client-facing physician resource within its self-funded advisory work. As more employers move into self-funded plans, the questions landing on brokers are increasingly clinical: complex, high-cost …

Texas Fire Threat to Worsen as Oklahoma Panhandle Burns

A fast-moving wildfire in the Oklahoma panhandle doubled in size as it pressed into Kansas while winds threatened to shift and raise fire risks across West Texas and New Mexico. The Ranger Road Fire had consumed more than 283,000 acres …

Delaware High Court Rescues Cyber Insurers’ Subrogation Claims

The Delaware Supreme Court has re-opened the door for cyber insurers to pursue recovery of claims payments they made to their insureds who took matters into their own hands after their data hosting company allegedly failed to adequately respond to …

Washingtion Contractor Fined for Exposing Workers to Asbestos

A contractor in Washington was fined $200,000 for putting workers at risk during a demolition project at a home in Bellevue, Washington. The Washington State Department of Labor & Industries cited Seattle Environmental Services LLC for knowingly exposing workers to …

EEOC Sues Coca-Cola Distributor It Says Excluded Male Employees From Event

A regional Coca-Cola seller and distributor violated federal law when it excluded male employees from an employer-sponsored event, the Equal Employment Opportunity Commission (EEOC) has charged in a lawsuit. According to the lawsuit, in September 2024, the Bedford, New Hampshire-headquartered …

People Moves: MIA Names Thornton, Matthewson, Fountain; Trucordia Appoints Dunning

Thornton to Lead Maryland Insurance Administration’s Property and Casualty Division Maryland Insurance Commissioner Marie Grant has announced the appointment of Courtney Thornton as associate commissioner of property and casualty, Brent Matthewson as chief data officer and Sharon Fountain as director …

More Snow Coming to California After Deadly Avalanche

A blast of mountain snow and flooding rain is falling over California, the last of a string of storms that brought much-needed moisture to the state yet triggered a deadly avalanche in the Sierras. Winter storm warnings stretch from the …

LA Fire Victims Suing City Utility for Billions Win Major Ruling

The water and power utility that serves the city of Los Angeles must face hundreds of lawsuits faulting its response to the massive 2025 wildfire that leveled one of the city’s premier seaside neighborhoods and caused tens of billions of …