“There could be a liability crisis in reinsurance in a couple of years,” a reinsurance executive predicted this week. Ken Brandt, chair, president and chief executive officer of TransRe, offered the assessment during a 30-minute chat with S&P Global Ratings …

Three Massachusetts drivers have hit a dead end for the second time in their drive for court certification of class actions against two auto insurers over missing payments for the lost resale value of vehicles. Superior Court Justice Kenneth Salinger …

A large cargo ship lost control of its engines and went nearly full throttle through a South Carolina harbor Wednesday, prompting the closure of one of the busiest bridges in the state. Harbor pilots were able to help the nearly …

Brown & Brown, Inc. announced it has acquired the assets of McNamara Company. McNamara Company is a family-owned agency that has been servicing customers in all 50 states for four generations. Established in 1970 in Minnesota, McNamara Company provides a …

The boom in artificial intelligence will increase banks’ dependence on big U.S. tech firms, creating new risks for the industry, European banking executives said. Excitement around using artificial intelligence (AI) in financial services – widely used already for detecting fraud …

Nirvana, the London-based managing general agent and Lloyd’s coverholder, announced the renewal of its Media/Technology Errors & Omissions and Cyber (MTC) binding authority with an increased £/$/€10 million media liability line. Effective on June 1, the renewal also provided expanded …

This edition of International People Moves details appointments at Ascot Underwriting Ltd. and Ascot Bermuda, along with The Geneva Association. A summary of these new hires follows here. Ascot Group Ltd., the Bermuda-based global specialty insurance company, announced the appointments …

Amazon is facing a one billion-pound ($1.3 billion) collective lawsuit from British retailers who allege that the online marketplace misused their data to boost its own market share and profits. The British Independent Retailers Association (BIRA), an umbrella body grouping …

Santa Barbara Systems, a General Dynamics subsidiary in Spain that is refurbishing Leopard tanks for delivery to Ukraine, suffered a cyberattack on its website, a pro-Russia hacker group said. A spokesperson for General Dynamics confirmed that the defense contractor’s Spanish …

A panel of the 5th Circuit Court of Appeals ruled this week that a Louisiana statute voids the formation of an arbitration clause in a surplus lines insurance contract. In its opinion, the appellate court reasoned that the general principles …

Global insurers plan to invest further in the coming years in the growing but opaque private credit market, according to a new report by Moody’s Ratings. In a survey this week of the world’s largest insurers, Moody’s found that nearly …

A legal battle between insurers and aircraft leasing companies over jets stuck in Ukraine should be heard in Ukraine rather than London, the High Court in London ruled on Thursday. Aircraft lessors, including Ireland’s AerCap, are pursuing insurers after Russia’s …

A new report shows a jump in total loss frequency for both electric and newer internal combustion engine automobiles. Mitchell this week released its Q1 2024 trends report: Plugged-In: EV Collision Insights. The report shows EV total loss frequency has …

A new study on adoption of behaviors that reduce personal carbon emissions in 37 countries and territories classified as “high-emissions” shows that daily household behaviors are far more common than higher-cost, infrequent behaviors. Lower-cost, daily behaviors to reduce carbon emissions …

PLYMOUTH, Conn. (AP) — A student pilot was attempting a solo cross-country flight before crashing into a Connecticut campground, according to a federal aviation report released Tuesday. The 1968, fixed-wing, single-engine Cessna 172 aircraft had “sputtered” and “quit” on Monday, …

Environmental groups took the first step to sue the owner of an oil refinery near Denver for years of pollution violations, saying that state regulators haven’t done enough to hold the owner accountable. The refinery owned by Suncor Energy sits …

Former Manhattan prosecutor Linda Fairstein and Netflix announced Tuesday they’ve settled the defamation lawsuit she filed four years ago over her portrayal in the streaming service’s miniseries about the five Black and Latino teenagers known as the now-exonerated Central Park …

A California city has been awarded a grant to study insurance protections from sea level rise. The City of Imperial Beach received an $848,000 grant to develop flooding adaptation strategies to help prepare residents for coastal flooding expected to intensify …

State agencies in Maryland will be required to submit a plan to help address climate change and reduce greenhouse gas emissions, under an executive order signed by Gov. Wes Moore on Tuesday. The plan calls for all state agencies to …

Emerald Bay Risk Solutions and Arrowhead General Insurance Agency Inc. have launched a commercial earthquake facility that provides difference in conditions insurance policies for medium to large businesses. Arrowhead EQ DIC will primarily target businesses in California and the Pacific …