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Ryan Specialty, the Chicago-based specialty insurance firm, announced it has signed a definitive agreement to acquire Stewart Specialty Risk Underwriting Ltd. (SSRU). Terms of the deal were not disclosed. Based in Toronto, Canada, SSRU is a managing general underwriter (MGU) …

Europe may soon get its first exchange-traded fund based on catastrophe bonds. An application to register the ETF was filed in Ireland, according to Rick Pagnani, co-founder and chief executive officer of King Ridge Capital Advisors. “This is an opportune …

Hurricane Melissa is churning toward Jamaica as the island’s worst-ever storm, with high winds and flooding rains already pummeling coastal areas in the hours before landfall. Melissa’s top winds reached 185 miles (298 kilometers) per hour, up from 180 mph …

Investors in a catastrophe bond tied to Jamaica look set to experience a trigger event as Hurricane Melissa barrels toward the Caribbean island as a Category 5 storm. “Based on current models there is a high chance that there will …

The Canada Pension Plan Investment Board was sued by a group of young people who claim the pension fund is putting their benefits in jeopardy by mismanaging climate-related financial risks. Aliya Hirji, Travis Olson, Ravneet Singh and Chloe Tse, who …

PepsiCo has resolved a lawsuit accusing it of falsely marketing its Gatorade protein bars as good for you, though they contain more sugar than protein and more sugar than Snickers bars and chocolate-frosted Dunkin’ donuts. U.S. District Judge Casey Pitts …

State Supreme Court reviews of workers’ compensation cases are rare, but in Kentucky last week, the state high court handed down no fewer than three opinions – all of which emphasize long-established case law. The court ruled against an insurer …

A New Jersey officer has been charged with misconduct after prosecutors say he didn’t quickly respond to and properly investigate reports of a shooting that turned out to be a double murder, instead stopping at an ATM and pizzeria. Franklin …

Ramaco Resources said on Monday it plans to establish what it called the first U.S. stockpile of rare earth elements and critical minerals in Wyoming, in a move to bolster domestic raw material supply for defense and clean-energy industries. China …

Tom Hayes, the former trader who was a face of the global Libor-rigging scandal before his conviction was overturned in July, sued his former employer UBS for more than $400 million, saying the Swiss bank cast him as the “evil …

In the summers, the sky is jet black when Raul Cruz arrives at this Imperial Valley sugarcane field to start his day. He chops, cleans and bundles the crop, taking heed as the sun rises. It’s hard work, but so …

American International Group today said it has a definite agreement to acquire the renewal rights of Everest Group’s retail commercial insurance business. Everest will focus on its reinsurance, global wholesale and specialty insurance businesses. The renewal rights of Everest’s retail …

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Dallas Specialty Insurance Company (Dallas Specialty), based in Dallas, Texas. The outlook assigned to these Credit Ratings (ratings) is …

The UK’s biggest banks are gearing up for yet another fight with regulators over how they’ll compensate consumers who were missold car loans — even after they set aside an additional £1.5 billion to resolve the saga in recent weeks. …

A staff member at a residential school in Massachusetts died after being kicked in the chest while trying to restrain a 14-year-old student, and the girl is charged with assault, a prosecutor said. The incident happened last Wednesday night at …

The National Highway Traffic Safety Administration is expanding its probe into 286,000 General Motors vehicles in the U.S. over a possible engine failure issue, the safety regulator said on Monday, following several complaints, despite a recall. The NHTSA said the …

U.S. carrier Alaska Airlines said it had restored operations after a technology outage that grounded flights across the country and forced it to cancel more than 400 flights, disrupting travel for more than 49,000 passengers. Alaska Air Group said Oct. …

New York City’s St. John’s University is partnering with ACORD, the standards-setting body for the insurance industry, to offer virtual or in-person learning to employees of organizations that are members of ACORD. Programs focus on insurance fundamentals, professional skills, and …

For nearly three years, JPMorgan Chase has picking up the legal tab of Charlie Javice and Olivier Amar, the two convicted fraudsters who sold their financial aid startup Frank to the bank. But the two have racked up an astronomical, …

Cyber analytics firm CyberCube said losses from the Amazon Web Services outage could eclipse $580 million. CyberCube late last week put out a preliminary global insured loss estimate of between $38 million and $581 million for the AWS event, which …