The World Bank has priced a new catastrophe bond designed to help Jamaica cope with the threat of hurricanes. The $200 million bond was oversubscribed by investors, the World Bank said in a statement. The deal comes less than a …

Starr, the New York City based insurance group, announced the opening of a new office in Hamburg, marking the further expansion of Starr’s presence in Germany and representing an important milestone in the company’s European growth strategy. The new office …

Pollution from coal-fired power plants that can block sunlight is significantly cutting global solar output, and potentially causing an overestimation of climate progress, according to a new study. Aerosols — tiny particles released from the burning of fossil fuels as …

The Strait of Hormuz remains effectively closed to commercial shipping, with maritime traffic reduced to a trickle and dominated by Iranian-linked vessels. There were few notable foreign-affiliated movements amid reports of Iran’s Bitcoin-backed insurance program for shipping companies willing to …

Standard Chartered will eliminate more than 7,000 jobs over the next four years as it seeks to replace “lower-value human capital” with technology, becoming one of the top names in finance to target headcount cuts using artificial intelligence. The London-headquartered …

The Insurance Industry Charitable Foundation (IICF) announced the appointment of LoriAnn V. Lowery-Biggers as CEO. Lowery-Biggers brings more than 30 years of experience to the role, having previously served as president of Lloyd’s North America along with executive leadership positions …

Due to the rapid evolution of artificial intelligence, data, and analytics, brokers are gaining the ability to treat the risk of each client separately, said Ashley Karg of McGill and Partners. “There’s more opportunity for brokers to embrace individualizing our …

Corporations facing high-profile negligence lawsuits have been known to request a bench trial—held before a judge only and without the risks of plaintiffs’ lawyers playing on the emotions of a 12-person jury. But in West Virginia, the pharmacy benefits manager …

The numbers aren’t all in, but it looks like Progressive is now the biggest private passenger auto insurer, based on an analysis from S&P Global Market Intelligence that shows Progressive muscling past State Farm. S&P GMI estimates Progressive’s U.S. private …

A Yakima insurance agent and an unauthorized insurance company are barred from doing business in Washington after Insurance Commissioner Patty Kuderer issued cease-and-desist orders in April. Those were two enforcement actions during the first quarter in which Kuderer issued fines …

Truckmaker Volvo Group on Monday agreed to a $197 million settlement with the California Air Resources Board over alleged violations of the state’s heavy-duty engine regulations. The settlement resolves allegations that Volvo failed to properly disclose auxiliary emission control devices …

The builder of the Dali cargo ship and Baltimore city officials are welcoming the U.S. government’s bringing of criminal charges against the ship’s manager for the deadly and costly collapse of the Francis Scott Key Bridge in 2024. Shipbuilder Hyundai …

The head of the Federal Aviation Administration will tell Congress on Tuesday the agency failed to act on warnings prior to the January 2025 fatal collision between an American Airlines regional jet and an Army helicopter that killed 67 people …

Michigan Attorney General Dana Nessel has secured a $108 million settlement with Monsanto Company (PDF), the major manufacturer of polychlorinated biphenyls (PCBs), and affiliated companies Solutia Inc. and Pharmacia LLC to address harms from PCB contamination in the State of …

During this month, two insurers and two brokers have announced acquisitions in India and Europe. Details of these deals follow. Vienna Insurance Group Completes Purchase of Germany’s Nuernberger Vienna Insurance Group (VIG) has completed its acquisition of Nuernberger Beteiligungs AG …

A 27-year-old firefighter killed in a huge fire and explosion at a lumber mill in Maine’s midcoast region was honored Saturday, a day after the incident that injured at least 11 others. A memorial of flowers dedicated to Andrew Cross …

Walmart agreed to pay $230,000 and furnish other relief to settle a disability hiring discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. According to the EEOC’s suit, a deaf applicant applied online for …

The U.S. has maintained a blockade of Iranian ports, while Iran lifted and then reimposed its own blockade on marine traffic passing through the Strait of Hormuz, which typically handles roughly one-fifth of the world’s oil supply. Here’s a look …

PIMCO and Legal & General Group Plc have been accused of placing “undue pressure” on property valuers in a bitter scrap over the future of a famous Brussels skyscraper whose owner has collapsed into insolvency. The owner of The Finance …

he share of women on the boards of mid-sized and large public companies dipped below 30% in the first quarter, missing that threshold for the first time since 2024, and down from a peak of 30.4% a year ago. In …