Oil executives called on Thursday [Feb. 6] for a return to navigation through the Red Sea en route to the Suez Canal following a halt in attacks by Iran-backed Houthi rebels, but said firms were cautiously monitoring shipping conditions and …

A pilot program in China that allows insurers to buy gold for the first time could free up billions of dollars of investment in the metal, adding further impetus to a record-setting rally. Prices hit a fresh peak. Ten insurance …

China’s National Financial Regulatory Administration on Saturday issued guidelines for insurance groups to manage “concentration risks,” asking insurers to hold sufficient capital and liquidity buffers. The guidelines asked insurers to formulate a concentration risk management strategy and mitigation mechanisms and …

President Trump was sworn in for a second term the morning of January 20, and he spent the rest of that day setting a record for the most ever Day 1 executive actions. Among those Day 1 executive actions (and …

UnitedHealthcare of North Carolina has agreed to pay a $3.4 million fine and take action to improve claims handling and prevent balance billing for out-of-network treatment after a state Department of Insurance investigation detailed multiple allegations. “Patients receiving emergency room …

Just as many Florida property insurers had hoped to see a boost to the private market with a maximum rate increase for Citizens Property Insurance Corp., state regulators have slashed the rate hike by more than half. After an unusually …

If there is a single bright spot to be found in the aftermath of the costliest wildfire in California’s history, it is that both the property/casualty insurance industry and the independent agents who serve as its personal point of contact …

IMA Financial Group named Kendall Empey president, Salt Lake City and market leader for Utah. Empey oversees employee benefits and property/casualty activities in the Utah market. Empey has experience in operations and running both large and regional brokers. He most …

Federal officials will investigate a commuter train fire in Philadelphia this week in which more than 300 passengers were safely evacuated. The National Transportation Safety Board announced Friday that it will look into the blaze, which was reported about 6 …

UMass said it would pay a student the $10,000 prize for a halftime promotion at a women’s basketball game after a dispute with an insurance company over whether he stepped over the line when he made a half-court shot. Noah …

Meteorologists are warning of an elevated risk of dangerous debris flows and destructive mudslides in Southern California next week in areas scorched by destructive Los Angeles wildfires. AccuWeather meteorologists expect between 2 inches and 4 inches of rain near the …

Crest Insurance announced the acquisition Horizon Insurance Services, a full-service insurance agency based in Houston, Texas. The move marks Crest’s 20th office nationwide and its second in the state of Texas. With the addition of the Houston office, Crest continues …

Hub International announced that it has acquired the assets of Mayfield Insurance, Inc. (Mayfield Insurance). Terms of the transaction were not disclosed. Based in Mooresville, Indiana, Mayfield Insurance is an independent insurance agency offering comprehensive commercial and personal insurance, including …

Billionaire investor Bill Ackman pledged to cover the legal fees for a Texas doctor in a dispute with UnitedHealth Group Inc. over her claims that the company asked her to scrub out of an operation to justify a patient’s care. …

A new report highlights how cybersecurity gaps threaten critical services and policyholder trust, according to SecurityScorecard. Of the top 150 insurance companies involved in third-party attack vectors, 59% exposed critical vulnerabilities in the sector’s supply chain, more than double the …

Allstate’s plan to correct its auto insurance business has “restored profitability back to target levels,” said the insurer’s head of personal insurance. During an earnings call with analysts, Mario Rizzo, president of property-liability, said recent financial results reflect “successful execution” …

Influential proxy advisory firm Institutional Shareholder Services recommended on Friday that Apple investors vote against a proposal to consider eliminating the iPhone maker’s diversity, equity and inclusion policies. Apple’s disclosures offer shareholders sufficient information about its DEI policies and there …

This edition of International People Moves details appointments at Willis and Arch Insurance UK. A summary of these new hires follows here. Willis Promotes Easton to Global Head of ART and Head of Western Europe, Risk & Analytics Willis, a …

Legal & General said on Friday it would sell its U.S. protection business to Japan’s Meiji Yasuda for $2.3 billion in cash and said the Japanese firm would take a 5% stake in the British insurer, in the biggest strategic …

RALEIGH, N.C. (AP) — North Carolina Republican lawmakers this week unveiled their initial attempt this year to provide recovery funding for Hurricane Helene’s historic flooding, proposing new spending that totals less than half of what new Democratic Gov. Josh Stein …