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The Caribbean Catastrophe Risk Insurance Facility (CCRIF) announced it will make a payout of US$70.8 million to the government of Jamaica to cover damages from Hurricane Melissa. This marks the largest single payout in the history of CCRIF, the Cayman …

Typhoon Kalmaegi killed 21 people and displaced nearly 400,000 more as it dumped heavy rains and caused widespread flooding in central Philippines, according to officials and local media. Many of the fatalities were in Cebu province where residents were trapped …

Li Auto Inc. is recalling 11,411 of its flagship Mega multi-purpose electric vehicles in China after one of its cars caught fire [on October 23], highlighting growing concerns about EV safety. The recall covers the 2024 model of the Mega …

More than five years after first announcing stricter controls on industrial farm pollution in Michigan, state environmental regulators will finally start enforcing them. Regulations issued Wednesday by the Michigan Department of Environment, Great Lakes and Energy require the state’s largest …

UBS Group AG’s chairman warned against looming risks in the US insurance industry, citing weak and complex regulations amid an unprecedented boom in private financing. “We’re beginning to see huge rating agency arbitrage in the insurance business,” Chairman Colm Kelleher …

McCrosson Joins AXA XL Reinsurance as Senior Underwriter, US Property Treaty AXA XL Reinsurance hired Dan McCrosson to the U.S. property treaty reinsurance team in Stamford, Connecticut, as a senior underwriter, U.S. Property Treaty. McCrosson’s career spans several years at …

CNA Financial Corp. recorded third quarter net income of $403 million compared with $283 million a year during the same period. Pretax catastrophe losses were $41 million for Q3, down more than $100 million from the prior year quarter. CNA’s …

Armed assailants attacked a commercial tanker off the coast of Mogadishu on Monday, firing at the vessel after attempting to board the ship in the first suspected Somali piracy incident of its kind since 2024, maritime sources said. If confirmed, …

Starkweather & Shepley Insurance Brokerage, Inc., headquartered in East Providence, Rhode Island, hired Dennis Leamy as a commercial risk advisor. Leamy joins the firm with nearly 20 years of experience in property, casualty, and life insurance, along with a record …

Costco, Ryder Last Mile Inc. and Mega Nice Trucking LLC $868,128 citation has been issued by the California Labor Commissioner’s Office for worker misclassifying and labor law violations affecting 58 delivery drivers. The LCO reports that Ryder Last Mile Inc. …

Transportation Secretary Sean Duffy said he’d close US airspace if officials determined air travel was dangerous, as the government shutdown stretches into its second month. “If we thought that it was unsafe, we’ll shut the whole airspace down,” Duffy said …

Workers’ compensation insurance premium rates in California have been in a steady decline for many years, after a series of reforms to the system reduced claim payouts, and subsequent changes to the experience modification rating calculation decreased the impact of …

Encova Insurance, headquartered in Columbus, Ohio, named Zach Webber as vice president, corporate actuarial, and Boppana Rao as vice president, enterprise digitization, AI and data. Webber has nearly two decades of actuarial experience across both commercial and personal lines, with …

Spend enough time along the shores of Lake Superior and it won’t be long before there’s some reminder of what happened “when the gales of November came early.” This year marks the 50th anniversary of the wreck of the Edmund …

ReSource Pro, a strategic operations partner serving the insurance industry, announced the acquisition of Supportive Insurance Services (SIS), a provider of licensing and renewal services. SIS’s deep specialization in adjuster licensing and compliance services complements ReSource Pro’s existing offerings, which …

Two years after state lawmakers passed a sweeping law aimed at preventing Texas cities from adopting progressive policies, that law may finally get its first major test. Three Dallas residents sued the city in Denton County District Court Wednesday to …

The National Association of Insurance Commissioners (NAIC) said late last week that its chief executive officer, Gary Anderson, stepped down to “pursue other endeavors.” Anderson left the NAIC on Oct. 29. NAIC Chief Regulatory Affairs Officer Jeff Johnston will serve …

The West Virginia Office of the Insurance Commissioner is accepting comments about a proposed 47.38% average increase in auto liability rates filed by American Modern Property and Casualty Insurance Co. About 504 policyholders will be affected. Written comments will be …

Tompkins Financial Corp. has closed on the sale of its wholly owned subsidiary, Tompkins Insurance Agencies, Inc. (TIA), to Arthur J. Gallagher & Co. for approximately $223 million in cash. The transaction generates a pre-tax gain of $183 million, the …

The recent escape of several research monkeys after the truck carrying them overturned on a Mississippi interstate is the latest glimpse into the secretive industry of animal research and the processes that allow key details of what happened to be …