Investors in Jamaica’s catastrophe bond now face a 100% payout after Hurricane Melissa set off a full trigger event, according to the World Bank. Jamaica’s $150 million cat bond, which was arranged by the World Bank, is designed to provide …
Jamaica Catastrophe Bond Headed for Full Payout After Hurricane, World Bank Says Read More »
Marsh McLennan Agency (MMA), headquartered in White Plains, New York, appointed Adam Balentine as President of National Business Insurance. Based in Kansas City, Missouri, Balentine leads the development of strategic growth initiatives for MMA’s property and casualty business, oversees the …
People Moves: MMA Appoints Balentine as President of National Business Insurance Read More »
The Fidelis Partnership (TFP), the Bermuda-based managing general underwriter, announced the launch of a consortium that targets risks associated with the construction of AI data centers. With estimates suggesting that the AI data center market could rapidly represent billions in …
Markets/Coverages: Fidelis Launches Construction Consortium to Cover AI Data Centers Read More »
An explosion at a hydrogen and nitrogen product manufacturer in Mississippi on Wednesday caused an ammonia leak and forced nearby residents to evacuate, officials said. Mississippi Gov. Tate Reeves said in a post on the social platform X that emergency …
Explosion at Mississippi Chemical Plant Causes Ammonia Leak, Evacuations Read More »
AM Best has placed under review with positive implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Louisiana Farm Bureau Mutual Insurance Company (Louisiana Farm Bureau), an action that follows the …
Louisiana Farm Bureau to Benefit From Demutualization, AM Best Says Read More »
A former South Carolina state lawmaker and injury lawyer has been indicted on federal allegations that he schemed to defraud his legal clients. According to court papers, a federal grand jury on Wednesday indicted former Rep. Marvin Pendarvis, a Democrat …
Former Injury Lawyer and SC House Member Indicted on Charges of Defrauding Clients Read More »
More than six years after a Boeing 737 Max jetliner crashed in Ethiopia, the first civil trial related to the disaster that killed all 157 people on board was set to proceed. Boeing has settled most of the dozens of …
Chicago Jury is Picked in Boeing Trial Over Payouts Related to Ethiopia Crash Read More »
Zurich Insurance Group is continuing to expand its middle market and specialty footprint by investing heavily this year in targeted recruitment of “top-tier underwriting talent” across the group. “In the U.S. alone, we have hired more than 100 middle market …
Zurich Invests Heavily in Underwriting Talent to Boost Mid-Market, Specialty Growth Read More »
A jury in Newport News, Virginia has awarded $10 million to a teacher who was shot by a 6-year-old student. Abby Zwerner, who was shot in January 2023 in her first-grade classroom, had asked for $40 million against a former …
Jury Awards $10 Million to Virginia Teacher Shot by 6-Year Old Student Read More »
Boeing Co. will avoid a criminal charge over two fatal 737 Max crashes after a federal judge paved the way for a $1.1 billion settlement agreement, handing the embattled manufacturer a victory in a long-running legal battle. US District Judge …
Boeing Avoids US Criminal Charge in 737 Max Jet Crash Case Read More »
