Pen Underwriting, the London-based managing general agent, announced a simplified divisional structure to bring together core commercial underwriting capabilities and expertise across the UK and Ireland. Under the central leadership of Sarah Breslin as managing director of the new Commercial …
Pen Underwriting Simplifies Divisional Structure in UK & Ireland, With Breslin at Helm Read More »
Federal cost-cutting initiatives pushed by President Donald Trump have turned their focus to the Federal Emergency Management Agency, where spending on consultants like Deloitte now faces scrutiny. Workers at the agency have been asked to provide by Tuesday evening plain-language …
Trump’s Cost-Cutters Look to Curb Deloitte, Other FEMA Contracts Read More »
Insurers paid out a record £585 million (US$724.7 million) for weather-related damage to people’s homes and possessions in 2024 in the United Kingdom, according to the latest data from the Association of British Insurers (ABI). The record claims come following …
Insurers Pay Record Claims for Weather-Related Damage in UK: ABI Read More »
A section of a major New Jersey highway has been closed due to a sinkhole for the second time in less than two months. Crews are working to repair a sinkhole on the Eastbound side of Interstate 80 in Wharton. …
Second Sinkhole Closes Lanes on New Jersey Highway Read More »
The U.S. Federal Reserve is in no rush to cut its short-term interest rate again given an economy that is “strong overall,” with low unemployment and inflation that remains above the Fed’s 2% target, Fed Chair Jerome Powell said in …
Fed’s Powell: Strong Economy Means No Hurry to Cut Rates Read More »
Israel’s financial system shows “high resilience” despite the country’s military conflicts and ongoing geopolitical uncertainty that have persisted for more than a year, the Bank of Israel said in a report on Tuesday. The banking sector’s profits have been boosted …
Israel Financial System Resilient Despite Wars, Central Bank Says Read More »
The New York City Council’s transportation committee heard testimony Monday on a proposal to lower the Personal Injury Protection (PIP) insurance coverage requirement for for-hire drivers from $200,000 to $50,000 per person, aligning it with the state’s requirement for all …
Bill Aims to Drive Down New York City Taxi Drivers’ Insurance Costs. But Will It? Read More »
An emergency response team in Russia’s Pacific port of Nevelsk is preparing to pump out fuel from a Chinese bulk carrier that ran aground over the weekend, according to regional authorities. “So far, weather conditions are preventing divers from inspecting …
Russia Emergency Services Work to Prevent Pacific Oil Spill Read More »
The world may have already missed its chance to limit global warming to 1.5C, according to two new studies in Nature Climate Change. The Paris Agreement was inked in 2015, with 196 countries agreeing to rein in greenhouse gas emissions …
It’s ‘Virtually Certain’ the World Has Already Breached 1.5C Warming Limit Read More »
Mereo Advisors, a Bermuda-based firm chaired by former American International Group Inc. Chief Executive Officer Brian Duperreault, has secured more than $700 million to fund its new reinsurance operations. The company received commitments from investors that include alternative asset manager …
Ex-AIG Chief Duperreault Secures $700M for Mereo Reinsurance Startup Read More »
