Aggregator

Donald Trump posted a $175 million bond in his New York civil fraud case on Monday, averting asset seizures by state authorities that could have hobbled the former U.S. president’s business empire.

A Las Vegas casino’s fight with an FM Global unit over coverage for losses caused by the COVID-19 pandemic will head to trial after a federal judge denied the insurer’s bid for summary judgment on the policyholder’s breach of contract claim.

A Virginia appellate court has declined to intervene in a lawsuit filed by a former elementary school teacher who was injured after being shot by a 6-year-old in January 2023, allowing the case to move forward in civil court and not the workers compensation system.

The 8th U.S. Circuit Court of Appeals on Friday overturned an insurer’s summary judgment win after finding a federal judge in Missouri erred when ruling that a building materials supplier violated a cooperation clause.

Acrisure LLC Monday announced the formation of its Midwest Region as it continues to revamp its operating structure.

Google agreed to destroy billions of data records to settle a lawsuit claiming it secretly tracked the internet use of people who thought they were browsing privately.

NFP Corp. said Monday it has acquired the assets of SDN Insurance Agency LLC, the Buffalo, New York-based brokerage unit of Financial Institutions Inc.

A California appeals court said Thursday that while a June 2020 burglary at a marijuana dispensary constituted one occurrence under its insurance policy, a trial judge erred when finding the insurer was not required to make an additional payment for business losses.

Hong Kong-based Peak Reinsurance Co. Ltd. has posted a record net profit of $200 million for 2023, compared to a net loss of $261 million in 2022.

U.K.-based private equity firm Apax Partners LLP is exploring options for its specialist insurance broker PIB Group Ltd., including a potential sale.

Kuwait Insurance Co.’s net profits declined by nearly 73% year-on-year to 12.1 million Kuwaiti dinar ($39.2 million) in 2023.

Spanish officials said on March 28 that Storm Nelson has hit the country, bringing heavy downpours, and claiming the lives of at least four people.

Bermuda-based managing general underwriter The Fidelis Partnership has received in principle approval from the Lloyd’s of London for the launch of Syndicate 3123 in partnership with Fidelis Insurance Holdings Ltd. and Hampden Agencies Ltd.

Risk managers adapt strategies to address shifting market dynamics

Captive formations continued to surge last year as new and existing owners turned to alternative risk transfer vehicles to navigate rising commercial insurance market rates.

The number of U.S. captive domiciles has more than doubled over the past 25 years and the number of captives they house has multiplied several times over, but it was only last year that a domestic domicile became the world’s largest.

Scottsdale, Arizona — The captive insurance industry is seeing further growth as businesses look to retain more risk in response to challenging commercial market conditions, according to a panel of industry leaders.

Scottsdale, Arizona — Captive owners should ensure they provide accurate data and be ready to compromise on collateral to maximize their rate negotiations with fronting insurers, experts say.