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In the latest edition of the Property Insurance Power Panel, experts from major firms like Lockton, EPIC Insurance Brokers, and Gallagher shared insights on the evolving landscape of commercial property insurance. They discussed how insurance carriers are changing their underwriting criteria, the impact of rising material costs, and what this means for deductibles. The panel … Read more

A group of major insurance companies has filed a lawsuit against a Michigan medical network, claiming it has been involved in a large-scale scheme to defraud them through false no-fault insurance claims. The lawsuit, initiated by Liberty Insurance Corporation and its affiliates, was submitted to the United States District Court for the Eastern District of … Read more

Descartes Underwriting, a parametric insurer based in Paris, has received a strategic investment from Battery Ventures, a firm known for its focus on technology. The financial details of this investment were not shared publicly. This deal allows Battery Ventures to become a shareholder in Descartes, while existing investors keep the majority of their stakes. Marcus … Read more

The US Supreme Court has upheld a federal plan to store up to 40,000 tons of highly radioactive waste in west Texas, despite strong opposition from local landowners and oil and gas companies. In a 6-3 decision, the justices dismissed a legal challenge to a key license issued by the Nuclear Regulatory Commission (NRC) for … Read more

Downtown Los Angeles businesses are breathing a sigh of relief after Mayor Karen Bass lifted a curfew aimed at preventing vandalism during protests against President Trump’s immigration policies. The curfew, which was imposed last week, covered a small area of the city where protests were concentrated, particularly around federal buildings. The protests erupted in response … Read more

A recent study from the University of Alabama has revealed that homes built to specific fortified standards can significantly reduce damage during severe weather events. The research found that these homes, constructed according to guidelines from the Insurance Institute for Business and Home Safety (IBHS), saw a drop in claims severity by 15% to 40% … Read more

AXIS Capital has announced that Matthew Kirk will take over as Chief Financial Officer starting in March 2026. This change is part of a planned leadership transition at the company. Kirk will replace Peter J. Vogt, who will stay on as a strategic advisor until the end of 2026 to help with the transition. Currently, … Read more

Vortex Weather Insurance has launched a new product called RainSure, designed to provide parametric rain coverage for event organizers. This innovative insurance pays out for every measurable increment of rainfall, starting at just 0.01 inches, allowing policyholders to select a payout threshold that suits their needs. This approach means that even light rain can trigger … Read more

Markel Insurance has announced new leadership changes in its U.S. wholesale and specialty division. The company is streamlining its operations from eight regions to four, aiming for a more integrated approach. This restructuring includes the creation of the West, Central, Northeast, and Southeast regions. Brian Gray will head the West region. He has been with … Read more

War risk insurance premiums for shipments to Israel have surged dramatically as the conflict between Israel and Iran continues. Industry sources report that these premiums are now three times higher than just a week ago, reflecting the escalating tensions in the region. Currently, the cost for a seven-day voyage to Israeli ports ranges from 0.7% … Read more