The market segment outlook for the global reinsurance segment has been revised to positive from stable after the sector saw robust profit margins in 2023, according to AM Best, which attributed the sector’s improved performance to higher attachment points and …

A former Allianz fund manager pleaded guilty on Friday over his role in a meltdown of private investment funds sparked by the pandemic that caused an estimated $7 billion of investor losses. Gregoire Tournant, 57, of Basalt, Colorado, admitted to …

A person with prior health complications who had contracted bird flu died in Mexico in April and the source of exposure to the virus was unknown, the World Health Organization said on Wednesday. WHO said the current risk of bird …

A court-appointed panel on Friday recommended how to divvy up a pool of $2.13 billion in legal fees from nationwide drug industry settlements over the U.S. opioid crisis, with top firms set to receive hundreds of millions of dollars. The …

Issuance of catastrophe bonds just hit a record high, as the market braces for a rough hurricane season with the potential to do substantial damage. Sales of so-called cat bonds are 38% higher this year through May than over the …

The South Carolina Department of Insurance is again requesting carrier data on the health of liability insurance markets in the state. “As you are aware, South Carolina and other states have seen liability markets harden significantly over the past several …

ORLANDO, Fla. (AP) — Months after Disney and Gov. Ron DeSantis’ appointees agreed to end a protracted legal fight, the two sides are set to approve an agreement that could result in the company investing up to $17 billion into …

A New Jersey businessman took his star turn on the witness stand in the bribery case against Sen. Bob Menendez on Friday, telling a jury he believed he had a $200,000-to-$250,000 deal in 2018 for the Democrat to pressure the …

A bill that would require the safe storage of firearms in Rhode Island has been approved by lawmakers and is awaiting the governor’s signature. The bill, which won final approval from lawmakers on Thursday, would require all firearms, when not …

Lax oversight by California’s transportation agency contributed to a destructive blaze last year that consumed a vital section of a Los Angeles freeway used by hundreds of thousands of commuters, according to a state audit. While authorities determined the fire …

The biggest water district in Maine is suing manufacturers of so-called forever chemicals in the hopes of recouping costs of monitoring and treating polluted wastewater. The Portland Water District lawsuit comes as the cost of the disposal of PFAS-contaminated sewage …

The U.S. Geological Survey and its partners have come out with a new capability designed to characterize large earthquakes quickly in hopes of helping warn the public about potentially damaging shaking headed their way. The ShakeAlert System, currently available in …

A Colorado woman who was seriously injured when a freight train hit the parked police vehicle in which she sat handcuffed has reached an $8.5 million settlement, a lawyer representing two of the involved police officers said. The city of …

The U.S. personal insurance sector is positioned for improving underwriting performance in 2024. According to Fitch’s latest U.S. Personal Lines Market Update, the change is predicted amid signs that the previous surge in claims severity from higher inflation and supply …

North Carolina authorities have charged a Battleboro insurance agent with 74 counts after they said he forged life insurance applications for 16 people. Jonathan Michael Vlasak, 35, a licensed producer qualified to sell property, casualty, life and accident insurance, took …

Louisiana Insurance Commissioner Tim Temple recently met with 20 property and casualty insurers ahead of this year’s Atlantic Hurricane Season to make sure insurers are prepared to handle claims following a hurricane or other catastrophic event. “I thought this meeting …

LAKE ZURICH, Ill. (AP) — The body of a 77-year-old man has been found after a house exploded in suburban Chicago. First responders found the home leveled after the explosion about 8:30 p.m. Tuesday in Lake Zurich, according to the …

AXIS Capital Holdings Limited, headquartered in Pembroke, Bermuda, appointed Paul Boulos and Rob Ryan as heads of ocean marine. Boulos and Ryan will be responsible for building a suite of ocean marine-related products into a comprehensive offering. Most recently, Boulos, …

After multiple deaths in the jail, criminal charges against an employee and alleged sexual relationships with inmates, a North Carolina sheriff’s office has lost its law enforcement liability insurance coverage from Travelers. The News & Observer and other news outlets …

HOUSTON (AP) — A Texas county has agreed to pay a group of female deputies $1.5 million to settle a federal lawsuit that claimed they were abused and harassed when a constable’s office turned undercover operations into a drunken “playground …