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Lloyd’s has issued a statement applauding the removal of Section 899 from the Republican’s reconciliation bill, which could have led to substantial additional tax on the US income of non-US-domiciled businesses. UK businesses had viewed Section 899 as hitting them …

The Los Angeles wildfires have generated potentially thousands of new clients for lawyers and prospects for billions in fees. Wall Street wants in on the action, too. The chance at a piece of strong returns has encouraged investment banks, hedge …

U.S.-based executives feel more prepared to counter cyber threats, potentially indicating a false sense of security because many companies lack the ability to be adequately prepared, according to a new report from specialist insurer Beazley. According to the report, “Spotlight …

The United States and the Group of Seven nations have agreed to support a proposal that would exempt U.S. companies from some components of an existing global agreement, the G7 said in a statement on Saturday. The group has created …

One of the giant Generali signs that crown the Italian insurer’s head offices in Milan collapsed on Monday, remaining atop the 170 meter-high (558 ft) skyscraper but at risk of crashing to the ground, firefighters said. Generali, Italy’s biggest insurer, …

This edition of Interntional People Moves details appointments at Liberty Specialty Markets and SiriusPoint. A summary of these new hires follows here. Liberty Specialty Markets Taps CNA Hardy’s Butt as Head of Casualty Claims, UK Liberty Specialty Markets (LSM), part …

AEGIS London, a top quartile Lloyd’s syndicate, has announced significant enhancements to its political and financial risk (PFR) offering. The syndicate has increased its sovereign non-payment (CF) and political risk (PR) line sizes from $20 million to $30 million, and …

Eleven former executives of companies linked to Miteni SpA were sentenced to a combined 141 years in prison by an Italian court for one of the largest groundwater contaminations of forever chemicals in Europe. Parent company Mitsubishi Corp., Japan’s biggest …

One of the most successful hedge fund strategies of recent years — insurance-linked securities — is latching on to an old idea whose popularity is suddenly soaring. Parametric insurance, where policyholders get quick payouts if weather-related metrics are met, used …

PricewaterhouseCoopers LLP, one of the world’s largest professional advisory firms, has cut prices for some services as clients raised the fact that the consultancy is using artificial intelligence to complete its work quicker. “Clients would hear us talking about using …

The UK government is planning to announce rule changes to help create a potential new insurance market worth billions of pounds as part of a drive to boost competitiveness. Chancellor of the Exchequer Rachel Reeves is expected to lay out …

US National Hurricane Center (NHC) forecasters accurately predicted Hurricane Erick would explode in intensity as it hit Mexico’s Pacific coastline. Now, key tools that helped inform that outlook will go away by the end of this month, and it’s unclear …

Tech companies Google and Palo Alto Networks are sounding the alarm over the “Scattered Spider” hacking group’s interest in the aviation sector. In a statement posted on LinkedIn on Friday, Sam Rubin, an executive at Palo Alto’s cybersecurity-focused Unit 42, …

General Motors persuaded a federal appeals court on Friday to decertify a class action seeking to hold the automaker liable for knowingly selling about 800,000 cars, trucks and SUVs with faulty transmissions. In a 9-7 vote, the 6th U.S. Circuit …

More than four years after a Florida condominium collapse killed 98 people, federal investigators have yet to make a final determination of the cause — but they do have some leading theories. The National Institute of Standards and Technology, the …

An iconic tourist attraction in an area of western North Carolina among the hardest hit by Hurricane Helene reopened to the public on Friday, nine months after the storm brought historic flooding, destruction and loss of life. North Carolina Gov. …

Two more property insurers have put their toes in the Florida market this summer, bringing to 14 the number of new carriers in the state since 2023. It’s another sign that legislative discouragement of claims litigation has made a difference …

Alliant Insurance Services hired Jordan Leclair as vice president. The Phoenix, Arizona-based benefits consultant joins Alliant with a background spanning healthcare, HR technology and employee benefits. Leclair has experience supporting organizations ranging from local and regional businesses to large national …

A former champion college athlete and aspiring Olympian known for his prowess in track and field events has advanced his lawsuit that blames cannabis retailers for his cannabis-induced psychosis that led to a suicide attempt. A New Jersey state judge …

Erie Insurance reported that online account access for customers including bill pay has been restored in the latest update on its recovery from its network outage. The insurer said the network and system outage it initiated on June 7 helped …