Latest News & Insights

UK Broker Ardonagh Completes $2.5B Equity Investment Led by PE Firm Stone Point

The Ardonagh Group, the London-based independent insurance distribution platform, announced the completion of a $2.5 billion equity investment led by funds managed by Stone Point Capital LLC, the US-based private equity firm. The investment, which valued the group at $14 …

DOGE Now Targeting SEC Policy, Eyes SPAC Rules, Sources Say

President Donald Trump’s Department of Government Efficiency initiative has pushed the U.S. markets watchdog to loosen Wall Street rules around blank-check companies and confidential reporting by private investment funds, according to two people familiar with the matter. DOGE officials at …

Supreme Court Dealt Blows to EPA and Environmental Protections

The U.S. Supreme Court delivered setbacks to environmental interests in a series of recent rulings including by further restricting the Environmental Protection Agency’s authority and relaxing requirements for environmental impact studies for proposed projects. While cases involving President Donald Trump‘s …

Truckers Fear Job Loss as New English Language Rules Take Effect

At a trucking school in New Jersey, students are maneuvering 18-wheelers around traffic cones. Other future drivers look under hoods to perform safety checks, narrating as they examine steering hoses for cracks and leaks. An instructor glides between speaking Spanish …

New Carrier Reporting Requirements on Investments, Liquidity, SC DOI Says

South Carolina’s Department of Insurance is reminding carriers that it may soon give extra scrutiny to liquidity and capital as well as investments in subsidiaries’ securities, thanks to a law approved by state legislators this year. “If the Director determines …

WCIRB: 2024 Losses, Expenses in California Workers’ Comp 108% of Earned Premium

Total losses and expenses in California’s workers’ compensation system incurred in 2024 were $16.7 billion, or 108% percent of earned premium, a report out today shows. The Workers’ Compensation Insurance Rating Bureau of California released the 2024 California Workers’ Compensation …

Senate Strikes AI Regulation Ban From Trump Megabill

The Republican-led U.S. Senate voted overwhelmingly on Tuesday to remove a 10-year federal moratorium on state regulation of artificial intelligence from President Trump’s sweeping tax-cut and spending bill. Lawmakers voted 99-1 to strike the ban from the bill by adopting …

Homes Are Taking Longer to Sell in US Markets That Once Flourished

A buildup of unsold houses sitting on the market for weeks is becoming a new reality in once-booming housing areas across the Sun Belt. Real estate agents in the South and Southwest say they’re seeing more people list homes, giving …

New Hampshire to Offer Mobile Driver’s Licenses

New Hampshire residents will soon be able to carry an electronic version of their driver’s license in their cell phones or other devices, although they will still have to also keep a physical license on their person while driving. Legislation …

Howden Re Names Elliot Richardson Executive Chair as Rod Fox Steps Down

Howden Re, the global reinsurance, capital markets and strategic advisory arm of Howden, announced that Rod Fox is stepping down as executive chairman and is leaving the business. He is succeeded by Elliot Richardson, who steps into the role with …

Severe Heatwave Grips Europe – Spurring Health Alerts, Raising Risk of Field Fires

More than a thousand schools were closed in France on Tuesday and the top floor of the Eiffel Tower was shut to tourists as a severe heatwave continued to grip Europe, triggering health alerts across the region. The Mediterranean Sea …

‘Bomb Cyclone’ Pummels Sydney With Heavy Rains, Winds

A “bomb cyclone” has lashed Australia’s most populous state with heavy rain and strong winds, forcing airlines to cancel domestic flights and prompting evacuation warnings in coastal communities. Authorities on Tuesday warned that parts of New South Wales could also …

BNP Paribas Completes Acquisition of AXA’s Asset Management Unit

BNP Paribas SA has finalized its purchase of AXA SA’s investment unit, creating one of Europe’s largest asset managers. The newly formed business will have more than €1.5 trillion ($1.8 trillion) in assets under management, according to a release from …

India’s Sigachi Factory Fire Death Toll Rises to 39; Cause Still Unknown

HYDERABAD, India –– The death toll from the explosion and fire at Sigachi Industries’ chemical factory in southern India has risen to at least 39, officials said on Tuesday, forcing the supplier of pharma products to shut operations for 90 …

China Enlists Commercial Insurers in Bid to Boost Local Biotechs

China wants commercial insurance firms to invest in the development of homegrown medicines, Beijing’s latest bid to support its burgeoning biotech and pharmaceutical sector. Commercial insurers have been encouraged to set up investment funds to provide long-term financing and “patience …

Aviva’s £3.7 Billion Direct Line Deal Gets UK Regulator’s Nod

Aviva Plc’s plan to buy Direct Line Insurance Group Plc for roughly £3.7 billion ($5.09 billion) to create the UK’s largest motor insurer has been given the nod from the country’s competition regulator. The Competition and Markets Authority said in …

Supreme Court Seeks Justice Department Views on Bayer’s Roundup Appeal

The U.S. Supreme Court asked President Donald Trump’s administration on Monday for its views on Bayer’s bid to sharply limit lawsuits claiming that the company’s Roundup weedkiller causes cancer and potentially avert billions of dollars in damages. Bayer has asked …

Insurance Fraud Charges Dropped for Former Alabama Congressional Aide

A former aide to an Alabama congressman, previously sentenced for health care fraud, has been cleared of insurance fraud and other charges related to claims made on her mother’s car in 2022. Sherry McCormick, who was a case worker and …

Apple Loses Bid to Dismiss Justice Department Antitrust Suit

Apple Inc. lost its bid to throw out an antitrust case brought by the US Justice Department and a group of state attorneys general on Monday, a victory for the aggressive posture taken during the Biden administration and carried on …

Cal/OSHA Regulations Extended to Domestic Workers Starting July 1

Domestic workers employed by companies in California are now covered by state workplace safety and health laws under a new law that took effect today. Previously workplace safety and health laws did not cover individuals performing household domestic work. Starting …

Shut Three Mile Island Nuclear Plant May Restart in 2027, Owner Says

The former Three Mile Island nuclear power plant in Pennsylvania may restart in 2027, about a year ahead of schedule after being put on a fast track to connect to the regional grid, executives with the plant’s owner Constellation Energy …

People Moves: MSIG USA Appoints Petrone as Northeast Leader

MSIG USA, headquartered in Warren, New Jersey, appointed David Petrone as Northeast region distribution leader. Petrone will be responsible for regional distribution strategy, broker and client relationships, and support for MSIG USA’s underwriting capabilities with market insights and strategic alignment. …

Senate Debates Whether to Adopt Revised State AI Regulation Ban

Two key U.S. Republican senators agreed to a revised federal moratorium on state regulation of artificial intelligence to five years and allow states to adopt rules on child online safety and protecting artists’ image or likeliness. UPDATE: Senate Strikes AI …

1 Dead, 2 Injured in Philadelphia Explosion That Damaged Several Homes

One person died and two others were injured after an explosion damaged several homes on Philadelphia’s north side early Sunday, according to authorities. Firefighters responded to a report of an explosion just before 5 a.m., according to the Philadelphia Fire …

Meta, TikTok Can Be Sued by Mother of NYC Teen Killed While ‘Subway Surfing’

Meta Platforms and TikTok owner ByteDance must face a wrongful death lawsuit by the mother of a 15-year-old Manhattan boy who died while “subway surfing” on a moving train, a New York state judge ruled. Justice Paul Goetz ruled on …

Texas Establishes Response Team to Prevent Re-Emergence of Invasive Screwworm Fly

Gov. Greg Abbott wants Texas to get serious about an invasive, parasitic fly that poses a serious threat to the state’s livestock and wildlife. Abbott ordered the Texas Animal Health Commission and the Texas Parks and Wildlife Department to establish …

Containment Grows on Southern California Wildfire As Evacuation Orders Lifted

Firefighters made quick progress battling a wildfire in Southern California, which is now 25% contained after burning 485 acres in San Bernardino County and prompting evacuations. The Lake Fire erupted Saturday afternoon north of Crestline and Lake Arrowhead. No injuries …

Omni Hotels Sued for Alleged Religious Discrimination at Chicago Property

Omni Hotels Management Corporation violated federal law at its Michigan Avenue location in Chicago when it discriminated against an employee by denying his request to not work on Sundays due to his religion, the U.S. Equal Employment Opportunity Commission (EEOC) …

Flint, Michigan Struggles to Complete Lead Pipe Replacement Decade After Water Crisis

Jeffrey Bell watched as crews dug up and replaced neighbors’ lead water pipes, hoping his mother’s house would be next. Workers told him it wasn’t on their list but probably assigned to another contractor. With Flint’s lead pipe replacement program …

Tech Industry Trade Group Sues Arkansas Over Social Media Laws

A tech industry trade group sued Arkansas Friday over two new laws that would place limits on content on social media platforms and would allow parents of children who killed themselves to sue over content on the platforms. The lawsuit …