News
Hurricane Erin Bounces Through Categories, Keeps Forecasters Guessing
Hurricane Erin weakened to a Category 3 hurricane on Sunday, with its outer bands lashing the Virgin Islands and Puerto Rico. As forecasters warned of a growing risk of life-threatening surf and rip ...
Swiss Re Tops List of Largest Reinsurers on Its Shift to IFRS-17 Accounting: AM Best
Swiss Re tops the list of the world's 50 largest reinsurers as a result of its adoption of the IFRS-17 accounting standards, which also led to a shuffle among the top-tier reinsurers, according to AM ...
Aon Accused of Contributing to Collapse of Startup Vesttoo
Insurance broker Aon Plc was accused in a civil lawsuit of helping cause the collapse of Vesttoo Ltd., an Israeli insurance startup once valued at $1 billion that went bankrupt after disclosing ...
Mercury Seeks 6.9% Rate Increase in Filing Based on New Cat Modeling Regulation
Mercury Insurance said it has submitted a filing based on California's new regulation enabling catastrophe modeling to be included as a factor in ratemaking. The filing is reportedly the first to use ...
Heat-Related Deaths Affect Construction Workers More Than Other Industries
Workers in the construction industry represented more than a third of all workplace heat-related deaths in 2023 and 2022, according to a report from the Center for Construction Research and Training ...
Texas AG Launches Probe into Xcel Energy, Other Utilities Connected to Wildfires
Texas Attorney General Ken Paxton has launched an investigation into several utility companies connected to the Smokehouse Creek and Windy Deuce Fires, his office said on Friday. The office issued ...
Gas Valve Failure During Routine Maintenance Work May Have Led to Fatal Explosion
Preparations for a routine maintenance task may have led to an explosion at a U.S. Steel coal-processing plant near Pittsburgh that left two dead and sent 10 to hospitals, the company said Friday. ...
Senator Schiff Brings Back Idea of Federal Reinsurance Program
Sen. Adam Schiff recently reintroduced his Incorporating National Support for Unprecedented Risks and Emergencies (INSURE) Act to create a federal catastrophic reinsurance program. The insurance ...