The nation’s flood insurance program struggles to balance affordability, flood protection and cost to taxpayers, leaving millions vulnerable at a time when climate change is driving flood risk higher. Nationwide, just 2.4% of properties are covered by 4.5 million federal …

AXA XL said it launched AXA XL Excess & Surplus Lines Insurance Company (AXA XL E&S), dedicated to exclusively serve wholesale brokers. This strategic move enhances AXA XL’s underwriting focus and capabilities within the Excess & Surplus (E&S) insurance market. …

Europe’s insurance and pensions watchdog warned extreme heat is adding to risks the industries face. The European Insurance and Occupational Pensions Authority said multiple sectors are likely to be impacted as temperatures rise, including insurance covering medical costs and income …

A Florida appeals court this week underscored state regulators’ authority to investigate insurance service companies, two years after a viatical settlement firm refused to open its books to the state Department of Financial Services. “We agree with the trial court …

For years, residents of this Southern California beach town could walk a mile along a stretch of cream-colored sand and dip their toes in the waves lapping ashore. That trip has been cut short. Coastal erosion has been eating away …

San Francisco-based Outmarket AI announced it has raised $34.5 million in Series B funding. The round was led by SignalFire, with participation from Fika Ventures, Permanent Capital Ventures, TTV Capital and Dash Fund. The funding comes months after the company …

The owner of a high-end car rental company has been sentenced to four years in state prison for insurance fraud involving a staged car crash and fraudulent insurance claim. Bozena A. Kolc of Edgewater was also ordered to pay approximately …

A federal judge has ruled that the Connecticut town of East Haven is not entitled to insurance coverage for a civil lawsuit and $11 million judgment against it regarding the closure of a local quarry in 2017 for political reasons. …

A pilot of a jet carrying more than 170 passengers to Tel Aviv stabbed his colleague and tried to crash the plane in what Israeli Prime Minister Benjamin Netanyahu branded a serious security incident. Catastrophe was narrowly avoided after a …

This edition of International People Moves details appointments at Howden Re and the re/insurance broker Cogent. A summary of these new hires follows here. Howden Re Launches Danish Office, Naming Ellborg as MD Howden Re, the London-based reinsurance unit of …

Ken Griffin has spent years trying to reshape Miami from a playground for the world’s wealthy into a high-finance and technology hub. That effort has largely centered on the city’s burgeoning Brickell financial district, where Griffin is constructing a headquarters …

The Bank of England on Wednesday warned of an increase in the risk that interconnected weaknesses in the financial system will crystallize, highlighting the re-escalation of the conflict in Iran and increased AI-related debt issuance. Rises in oil and gas …

The Hartford President A. Morris “Mo” Tooker is to succeed Christopher Swift as CEO in March 2027. Swift will transition to the role of executive chair of the board after nearly 13 years as CEO. Tooker will join the board, …

American International Group’s excess & surplus subsidiary Lexington Insurance has set up a dedicated financial institutions practice to support wholesale produced private company banks, asset managers, broker dealers, and others. Kevin Ware has been hired as head of financial institutions, …

Connecticut’s insurance regulator is weighing whether to approve a workers’ compensation industry proposal for an overall average decrease of 4.9% to the current voluntary loss costs and an average decrease of 5.8% to the current assigned risk rate level. If …

A vessel carrying vehicles briefly became stuck at Dusseldorf harbor due to critically low water levels on the Rhine River, in one of the latest examples of how this year’s extreme weather is threatening transport. The Terra 2 got stuck …

Solstice Advanced Materials, the corporate owner of a nuclear fuel facility at the heart of President Donald Trump’s push for a nuclear renaissance, has agreed to pay $80 million to settle claims that the plant for decades spewed radiation over …

Davis Cartage Co., a transportation, warehousing and logistics company headquartered in Corunna, Michigan, violated federal law by allowing its president of logistics to sexually harass two female employees at its Owosso, Michigan location, the U.S. Equal Employment Opportunity Commission (EEOC) …

The US Department of Agriculture has caught its first wild screwworm fly since the parasite was detected in the country’s livestock nearly four months ago, signaling the potential for continued spread even as overall cases have remained muted. The wild …

BevCap Management has added David Gross as a business development Executive, where he will focus on expanding the reach of the company’s Dealer Management Group (DMG) and Sharefield captive solutions throughout the Midwest and Western United States. Gross brings more …