Allianz Raises $1.25 Billion in Perpetual-Bond Litmus Test
Allianz SE sold $1.25 billion of perpetual notes Tuesday, the German insurer’s latest batch of risky bonds that investors said could set the tone for the subordinated debt market. The Restricted Tier 1 bond has an annual coupon of 6.55%, …
POSTED AUGUST 20, 2025 7:57 AM |
Renewables Battling Climate Change Now Need to Insure Against It
Solar and wind energy companies are betting on a novel form of insurance to protect their assets against wild and volatile weather — the very type of climate risk they were set up to fight. Renewable power projects can lose …
POSTED AUGUST 20, 2025 7:38 AM |
Sentry Leases 105,000 Square Feet for The General’s Offices in Nashville
Less than a year after it purchased The General auto insurer, Sentry Insurance is leasing 105,000 square feet of office space in Nashville, giving The General new headquarters. The General, one of the largest non-standard auto insurers in the country, …
POSTED AUGUST 20, 2025 5:01 AM |
Fatal Explosion at 110-Year Old U.S. Steel’s Plant Raises Questions About Its Future
The fatal explosion last week at U.S. Steel’s Pittsburgh-area coal-processing plant has revived debate about its future just as the iconic American company was emerging from a long period of uncertainty. The fortunes of steelmaking in the U.S. — along …
POSTED AUGUST 20, 2025 5:00 AM |
California Crafting New Auto Pollution Rules After Trump Attacks
California’s clean-air regulator is pressing ahead with work on new rules for auto emissions in the state and possible new tax credits for electric cars to counter the Trump administration’s effort to corral the state’s regulatory heft. The California Air …
POSTED AUGUST 20, 2025 5:00 AM |
Musk’s SpaceX, Others Win Court Challenge to Labor Board’s Structure
A U.S. appeals court on Tuesday agreed with Elon Musk’s SpaceX and two other companies that the U.S. National Labor Relations Board’s structure is likely unlawful and blocked the agency from pursuing cases against them. The ruling by the New …
POSTED AUGUST 20, 2025 5:00 AM |
Insurance Matters Topped Disputes Handled by Oregon Consumer Advocates
Consumer advocates in the Oregon Division of Financial Regulation report recovering $1.2 for residents, bringing the year-to-date total to more than $3.7 million. In the second quarter, consumer advocates reported getting 1,367 complaints, with insurance complaints leading the way with …
POSTED AUGUST 20, 2025 5:00 AM |
JPMorgan Must Face Claims Over Son’s Fleecing of Elderly Mom
JPMorgan Chase & Co. lost an attempt to stop an 85-year-old widow from pursuing claims in arbitration that the company failed to prevent her son from siphoning more than $8 million from her bank accounts. The widow, Susan Kraus, in …
POSTED AUGUST 20, 2025 5:00 AM |
Tesla Drivers Can Pursue Class Action Over Self-Driving Claims, Judge Rules
Tesla must face a certified class action by California drivers who said Elon Musk misled them for eight years about the self-driving capabilities of his company’s electric vehicles. U.S. District Judge Rita Lin said the common question of whether Tesla …
POSTED AUGUST 19, 2025 6:32 PM |
Ohio Healthcare Facility to Settle Race Discrimination Charge
Progressive North Ridgeville, LLC, a healthcare facility in North Ridgeville, Ohio, agreed to pay $5,000 and take corrective action to resolve a race discrimination charge filed with the U.S. Equal Employment Opportunity Commission (EEOC), the agency announced. The EEOC’s investigation …
POSTED AUGUST 19, 2025 4:50 PM |
Ugly Corn Photos on Social Media Show Risk Posed to Record US Crop
The US government is forecasting a record corn crop this year, but pictures of ugly-looking plants spreading fast through social media have triggered concern about the upcoming harvest. The photos show corn with missing kernels as a result of uneven …
POSTED AUGUST 19, 2025 4:31 PM |
After Wildfire, Can Grand Canyon Mascot Be Restored?
Missing an ear and his front legs detached, Brighty the Burro certainly has seen better days. The 600-pound (273-kilogram) bronze statue used to greet visitors at the Grand Canyon Lodge on the national park’s North Rim. The nearly century-old building …
POSTED AUGUST 19, 2025 4:30 PM |
Texas Senate Passes Bills Aimed at Improving Flood Safety
The Texas Senate quickly got to work Monday by passing several bills on the chamber’s desk as part of Gov. Greg Abbott’s agenda for the second special session of the year for the Legislature, focusing first on flood-related legislation. Abbott’s …
POSTED AUGUST 19, 2025 4:24 PM |
Texas Shows How Trump’s Anti-Green Moves Threaten a Red Economy
Deep-red Texas needs to build power plants at an astonishing speed and scale to keep its economy humming. President Donald Trump just made that much harder. So many data centers, crypto-mining operations and factories are planned for the Lone Star …
POSTED AUGUST 19, 2025 4:20 PM |
People Moves: Howden Taps Hughes From IAG as CEO of New Zealand; BHSI Promotes Esa to Head of National Business, UK
This edition of International People Moves details appointments at Howden and Berkshire Hathaway Specialty Insurance. A summary of these new hires follows here. Howden Taps Hughes From IAG as CEO of New Zealand Howden, the London-based global insurance intermediary group, …
POSTED AUGUST 19, 2025 4:16 PM |
People Moves: B&R Welcomes New Vice President to National Property Practice
Brown & Riding, headquartered in Dallas, Texas, named Lauren Root as vice president of its national property practice. Based in the firm’s Houston, Texas, office, Root specializes in property and inland marine coverage with expertise in catastrophe-exposed risks. Root most …
POSTED AUGUST 19, 2025 4:12 PM |
W.R. Berkley Forms Professional Lines Unit, Berkley Edge; Names Secor as President
W.R. Berkley Corp. announced the formation of Berkley Edge, a new business providing professional liability and casualty insurance for small to mid-sized businesses. Berkley Edge will focus on hard-to-place and distressed risks, offering coverage exclusively through wholesale brokers. “We are …
POSTED AUGUST 19, 2025 3:25 PM |
Europe’s Wildfires Have Burned the Most Land in Nearly 20 Years
Four major heat waves, dry conditions and strong winds have turned Europe into a tinderbox this summer, fueling the most destructive wildfire season in nearly two decades. Blazes have scorched about 8,948 square kilometers (3,455 square miles) across the European …
POSTED AUGUST 19, 2025 3:18 PM |
People Moves: Geraci Takes Helm at FSLA, McCleary Named SVP at Alliant
Albert Geraci, area president of wholesale broker Risk Placement Services, has taken the helm as president of the Florida Surplus Lines Association. He replaces Virginia Clancy, who was in the role for 2024-2025. “This year, we will continue to focus …
POSTED AUGUST 19, 2025 3:06 PM |
Renaissance Acquires Business of Evolution Partners
Renaissance, a network of independent insurance agencies, has acquired the agency network business of Evolution Partners, a California-based membership group that helps independent insurance agencies secure direct appointments with insurance carriers. According to a press release, the arrangement gives Evolution …
POSTED AUGUST 19, 2025 3:00 PM |
Another Carrier, Vision Insurance Exchange, Sets Up Shop in Florida
Regulators have approved another new property insurer for the Florida market – Vision Insurance Exchange – led by former Florida Peninsula Insurance CEO Roger Desjadon. The Cape Coral-based Vision is the 15th property-casualty firm to set up shop in Florida …
POSTED AUGUST 19, 2025 2:43 PM |
Markets/Coverages: Ryan Expands E&O Program for Small, Medium Insurance Agents
Managing general underwriter Ryan Financial Lines has expanded its national Insurance Agents & Brokers E&O Program, now offering an admitted product that is available to retail agents in most states. The enhanced program is tailored for property/casualty, personal lines, and …
POSTED AUGUST 19, 2025 1:54 PM |
New York Marijuana Shops Sue State Over Mistaken Openings Too Close to Schools
A group of marijuana dispensaries in New York sued the state on Friday after cannabis regulators admitted they accidentally allowed pot shops to open too close to schools, putting the future of the businesses in jeopardy. The lawsuit asks a …
POSTED AUGUST 19, 2025 12:50 PM |
CVS Not Covered by Insurance for Opioid Lawsuits, Delaware Supreme Court Rules
CVS Health is not entitled to coverage from insurers, including AIG and Chubb, against thousands of lawsuits over its role in the nation’s opioid crisis, Delaware’s highest court ruled on Monday. The Delaware Supreme Court concluded that governments, hospitals, doctors …
POSTED AUGUST 19, 2025 11:52 AM |
Qantas Airways Fined $59M for Illegal Pandemic Layoffs
A judge on Monday fined Qantas Airways 90 million Australian dollars ($59 million) for illegally firing more than 1,800 ground staff at the start of the COVID-19 pandemic. The penalty is in addition to the A$120 million ($78 million) in …
POSTED AUGUST 19, 2025 11:42 AM |