Munich Re is aiming for an IFRS net profit of €6 billion (US$6.3 billion) in 2025 as a result of “consistently good operational performance in all business segments.” It also expects good underwriting profitability with a combined ratio of 79% …

COLUMBUS, Ohio (AP) — The Ohio Supreme Court ruled on Tuesday that the state’s product liability law prohibits counties from bringing public nuisance claims against national pharmaceutical chains as they did as part of national opioid litigation, a decision that …

Starbucks Corp.’s system for logging employee hours is back online nearly three weeks after a vendor hack had forced the company to keep track of schedules by hand. Starbucks worked with third-party software supplier Blue Yonder Group, which was hit …

Mega claims in workers’ compensation represent far less than 1% of total workers’ comp claims yet account for more than 2% of total loss dollars, and total in excess of $1 billion each year, a new study from 10 state …

A U.S. appeals court on Wednesday ruled that Nasdaq could not impose rules designed to increase diversity in corporate America by requiring companies listed on the exchange to have women and minority directors on their boards or explain why they …

President-elect Donald Trump’s antitrust picks are likely to take a hard-line on the tech giants, and a harder line on corporate consolidation than the average Republican. All three of the new administration’s selections – Gail Slater as DOJ antitrust chief, …

W&T Offshore, an independent driller operating in the U.S. Gulf of Mexico, has asked a federal judge to block insurance companies’ demands for $250 million in additional collateral for taking apart old oil infrastructure. The offshore drilling industry faces mounting …

World Insurance Associates LLC acquired the business of Sprague Israel Giles Inc. in Seattle, Washington. Sprague Israel Giles was founded in 1958 by David Sprague and Mike Israel. Ten years later, Leon Giles joined the firm and eventually became a …

Specialty carrier Relm Insurance said it has launched a managing general agent licensed in all 50 states. Relm also said Keith Lavigne has joined as head of underwriting – US. He will report to Relm CEO and founder Joseph Ziolowski. …

Guy Carpenter said it is starting a research project to explore the use of parametric insurance solutions in California and Florida for wildfire and hurricane risks. The effort will focus on the use of a “community-based parametric reciprocal exchange,” the …

Looking ahead, high-net-worth individuals will need to look to alternative risk-transfer solutions and take part in risk mitigation to get insurance coverage, according to brokerage Hub International. A recent HUB survey of HNW individuals and advisors found more are worried …

After serving as president of Lockton’s Southeast region for 20 years, Neil Metzheiser has been named CEO of the region, based in Atlanta. Metzheiser became president of Lockton Southeast in 2004 and was a producer. Before that, he worked with …

A federal judge blocked Kroger Co.’s $24.6 billion acquisition of Albertsons Cos., finding the takeover would lessen competition for US grocery shoppers, in a ruling that marks a likely death knell for the deal. In a decision filed Tuesday, US …

Florida lawmakers established the Birth-Related Neurological Injury fund in 1988 to provide a no-fault remedy for parents of children with certain injuries incurred at birth, with an aim toward reducing the soaring cost of medical malpractice claims. But hospitals cannot …

Cascading failures involving a corroded steam pipe and a defective natural gas fitting caused a powerful explosion in 2023 at a Pennsylvania chocolate factory, killing seven workers when the company failed to evacuate, a federal safety board said Tuesday. About …

U.S. property/casualty insurers are positioned favorably heading into 2025, Fitch Ratings forecasted in its annual outlook report. Citing “a strong personal lines turnaround” and “resiliency following an above average hurricane season,” Fitch holds a neutral sector outlook for U.S. P/C …

Inszone Insurance Services announced the acquisition of Southerland and Associates, Inc., an agency based in Austin, Texas. The strengthens Inszone’s footprint in Texas, enhancing the company’s ability to provide personalized service and diverse insurance solutions to clients in the Lone …

Firefighters made some gains containing a raging wildfire that threatens Malibu, California, even as the burn area doubled in size in a day and high-wind warnings are forecast to persist through much of Wednesday. The Franklin Fire, which has burned …

Farmers Insurance said on Wednesday it will resume offering coverage for multiple lines of insurance in California to new customers. The lines include condominium, renters, umbrella, landlord, vacant and manufactured home. Many of the reopened coverage offerings had been temporarily …

Uber Technologies Inc. is asking New York City’s taxi regulator to reconsider proposed changes to commercial auto insurance requirements, saying they may unintentionally leave thousands of drivers in one of the company’s largest markets unable to insure their vehicles. Uber …