US Senator Bob Menendez, the once-powerful New Jersey Democrat, was found guilty of bribery, extortion and acting as a foreign agent of Egypt after a corruption trial focused on 13 gold bars, nearly $500,000 in cash and a Mercedes-Benz seized …

Insurance broker World Insurance Associates announced that it recently acquired the business of Affiliated Insurance Managers (AIM) of Warwick, Rhode Island. AIM was founded in 1937. Today the agency is primarily focused on commercial lines, while also providing insurance to …

This edition of International People Moves details appointments at the broker Aon and claims services provider McLarens. A summary of these new hires follows here. Insurance broker Aon plc appointed Ed Thomas as head of Lloyd’s Capital within its Reinsurance …

FEMA issued a new rule that will increase the nation’s resilience to future flood disasters. The rule is amongst the first adopted by a federal agency that will require federally funded projects to be sited and designed with future climate …

Lemonade, the New York-based insurtech, announced the launch of buildings and contents insurance in the United Kingdom in partnership with insurer Aviva. Expanding the company’s home insurance offerings in the UK, homeowners can now purchase extensive coverage for their home …

Concentra Group, a Select Medical unit, is eyeing a valuation of $3.30 billion in its U.S. initial public offering, joining a growing list of firms testing the market after a near two-year dry spell. The occupational health services company is …

U.S. insured losses from Hurricane Beryl will likely fall between $2.5 billion to $4.5 billion, according to estimates by Moody’s RMS Event Response. Insured losses associated with the storm include wind, storm surge, and precipitation-induced flooding. Moody’s estimates total non-U.S. …

Last month, amid reports that Hurricane Beryl would become the earliest Category 5 hurricane in history, a group of money managers were busy trying to figure out whether their highly calibrated bets centered on natural catastrophes were about to take …

Firefighters have contained a wind-swept wildfire that was threatening about 200 homes on the Hawaiian island of Kauai, authorities said late Monday night, and an evacuation notice for the area has been lifted. The fire burned 1.56 square miles of …

Berkshire Hathaway’s share price set a record high on Monday, reflecting investors’ confidence in Warren Buffett’s company, which is often regarded as a microcosm of the broader American economy. The price of Berkshire’s Class A shares closed up 2.1% at …

A New York federal judge has ordered Amazon.com to comply with a subpoena from a U.S. civil rights agency investigating claims that the online retailer discriminated against pregnant warehouse workers. U.S. District Judge Lorna Schofield in Manhattan late Thursday rejected …

The Texas Windstorm Insurance Association Actuarial & Underwriting Committee voted on Monday, July 15 to recommend that the TWIA Board of Directors approve a rate filing to increase rates by 10% for 2025 residential policies and by 10% for 2025 …

Beaumont Health (now Corewell Health), a health care system in southeast Michigan, will pay $30,000 and furnish other relief to settle a race discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. According to …

The federal government announced a $241.5 million settlement with Marathon Oil last week for alleged air quality violations at the company’s oil and gas operations on the Fort Berthold Indian Reservation in North Dakota. The Environmental Protection Agency and Department …

A group of Houston restaurants that lost power for days after Hurricane Beryl sued the city’s main utility, accusing CenterPoint Energy Inc. of failing to adequately invest in infrastructure and respond to widespread power outages. The lawsuit, filed by various …

The 16-strong crew of a Comoros-flagged oil tanker that capsized off Oman are still missing, the country’s maritime security center said on Tuesday, a day after the sinking was reported. The crew of “Prestige Falcon” comprised 13 Indian nationals and …

The families of two construction workers killed when an airport hangar in Idaho collapsed are suing several companies that were involved in the building process, alleging the businesses recklessly cut corners and used inappropriate materials for the build. The private …

Progressive Corp. today reported second quarter 2024 results of about $1.5 billion and a combined ratio of 91.9. Results for the Mayfield Village, Ohio-based insurer are in comparison to second quarter 2023 net income of $345.4 million and a combined …

PricewaterhouseCoopers (PwC) is considering slashing up to half its financial services auditing staff in China, two people with knowledge of the matter said, as a regulatory investigation and an exodus of clients darken business prospects. The move follows Chinese regulators’ …

Florida Peninsula Holdings and Windward Holdings, which together own and manage Florida Peninsula Insurance Co., Edison Insurance and Ovation Home Insurance Exchange, has named is co-founder vice chairman of the board. Gary Cantor, who, along with Paul Adkins, CEO of …