Bank of America Agrees to Settle Claims It Aided Epstein
Bank of America Corp. has agreed to settle a proposed class action lawsuit on behalf of Jeffrey Epstein victims who accused the bank of aiding in the deceased financier’s sex-trafficking, according to a court record. The agreement in principle was …
POSTED MARCH 16, 2026 10:07 PM |
Even Low-Risk Homes Are Caught Up in California’s Climate Insurance Crisis
As another wildfire season looms, insurance companies have abandoned some California neighborhoods at lower risk of burning, forcing tens of thousands of homeowners to obtain bare-bones coverage from the state’s insurer of last resort. California intended the insurer, called the …
POSTED MARCH 16, 2026 5:30 PM |
Former Oklahoma Farmers Agent Accused of Sharing Confidential Data in Lawsuit
Farmers Insurance alleges in a lawsuit that a former agent in Oklahoma conspired to move Farmers’ insureds to other insurance companies, including an agency where his wife works. Farmers alleges that Bradley McKinney broke his Agent Appointment Agreement with Farmers …
POSTED MARCH 16, 2026 4:49 PM |
After Milton’s Damage to Stadium, St. Pete Votes to Raise Coverage to $50M
The city of St. Petersburg, Florida, in 2024 famously lowered its insurance coverage on Tropicana Field, the longtime home of the Tampa Bay Rays baseball team. The move saved the city some $275,000 in annual premium but slashed coverage limits …
POSTED MARCH 16, 2026 4:47 PM |
People Moves: TMK Appoints Glover From AIG as Aviation Underwriter
TMK Appoints Glover From AIG as Aviation Underwriter Specialty insurer Tokio Marine Kiln (TMK) announced it has appointed Cameron Glover as an underwriter within its Aviation department. He takes up his new role within the expanding Aerospace division writing airport …
POSTED MARCH 16, 2026 4:41 PM |
US $20B Reinsurance Plan Unlikely to Restart Gulf Shipping Without Liability Cover
The Trump administration’s $20 billion maritime reinsurance program, which aims to cover hull & machinery, as well as cargo, is designed to get ships moving through the Strait of Hormuz. But, according to Moody’s Ratings, without coverage of liability risk, …
POSTED MARCH 16, 2026 4:08 PM |
Encyclopedia Britannica Sues OpenAI Over AI Training
Encyclopedia Britannica and its Merriam-Webster subsidiary have sued OpenAI in Manhattan federal court for allegedly misusing their reference materials to train its artificial intelligence models. Britannica said in the complaint filed on Friday that Microsoft-backed OpenAI used its online articles …
POSTED MARCH 16, 2026 4:04 PM |
Judge Sides With Florida Citizens in Another Win for DOAH Arbitration Plan
A Florida judge has given another win to Citizens Property Insurance Corp., finding that the state-created insurer’s arbitration endorsement is constitutional and enforceable. “Final judgment is granted in favor of Citizens and against the plaintiff as to this declaration that …
POSTED MARCH 16, 2026 3:37 PM |
US Data Center Boom Slows Due to Power Grid Limits, Consultancy Says
US data center development has slowed because the power grid is reaching its limit to accommodate more large facilities, according to research from energy consultancy Wood Mackenzie. Developers added data centers that would consume about 25 gigawatts of electricity to …
POSTED MARCH 16, 2026 2:28 PM |
US Charges Man Accused of Selling Gun to Old Dominion University Shooter
A man was charged week with selling a stolen gun to Mohamed Bailor Jalloh, a former member of the Army National Guard who used it to kill one person and wound two others at Old Dominion University, federal authorities said. …
POSTED MARCH 16, 2026 2:23 PM |
TPG Launches Third Wave Brokerage, Which Acquires Palmer & Cay in Atlanta
In a three-way deal, TPG, an asset management firm, has launched an insurance brokerage with offices in South Carolina. That brokerage, Third Wave Insurance, has acquired Palmer & Cay, an insurance and employee benefits brokerage in Atlanta. Palmer & Cay, …
POSTED MARCH 16, 2026 2:12 PM |
Starbucks May Be Neglecting Labor Dispute Risks, Shareholder Proxy Firms Warn
Starbucks may be neglecting the financial and reputational risks that stem from labor disputes, two proxy advisory firms are warning shareholders. The warnings come more than a year after contract talks between the company and its U.S. union, formed by …
POSTED MARCH 16, 2026 1:49 PM |
AIG, McGill Announce Collaboration to Potentially Transform Subscription Market
McGill and Partners and American International Group said they collaborating to perhaps disrupt the subscription market—using agentic artificial intelligence to deploy capital to clients. AIG said the digital-first platform of the London-based independent broker allowed the insurer to conduct a …
POSTED MARCH 16, 2026 12:53 PM |
Iran War Should Trigger Faster Exit From Fossil Fuel Dependence: UN Climate Chief
The disruption to energy markets caused by the Iran war is a lesson on the risks of relying on fossil fuels which should drive governments to wean their economies off oil and gas faster, the U.N. climate secretary told Reuters …
POSTED MARCH 16, 2026 12:47 PM |
SiriusPoint Restructures Business, Now Operating Through Four Business Areas
SiriusPoint Ltd., the Bermuda-based specialty underwriter, announced changes to its business structure as part of the next phase of the company’s evolution. SiriusPoint will now operate through four business areas, including three globally focused P&Ls: Global P&C Programs, Global Reinsurance, …
POSTED MARCH 16, 2026 12:19 PM |
A Backlash Against Data Centers Is Spilling Into French Municipal Election Races
In the town of Le Bourget outside Paris, Sofiane Milous, a candidate in France’s municipal elections, is vowing to reverse plans for a data center he says will intensify heat islands, worsen noise pollution and create few local jobs. The …
POSTED MARCH 16, 2026 11:11 AM |
Why Is it so Easy for Iran to Shut the Strait of Hormuz?
Following through on an old threat, Iran has effectively closed the Strait of Hormuz, cutting off a vital waterway that normally carries about a fifth of global oil and liquefied natural gas supplies, in retaliation for U.S.-Israeli strikes. As oil …
POSTED MARCH 16, 2026 9:53 AM |
Iowa Enacts Law Banning Local Gender Identity Protections
A new Iowa law bans local nondiscrimination protections on the basis of gender identity after the state became the first in the U.S. to rollback its civil rights code last year. The preemption law took effect Tuesday, as soon as …
POSTED MARCH 16, 2026 9:00 AM |
After a Decade of Missteps, Corpus Christi Careens Toward Water Catastrophe
The imminent depletion of water supplies in Corpus Christi threatens to cut off the flow of jet fuel to Texas airports and other oil exports from one of the nation’s largest petroleum ports, triggering potential shockwaves through energy markets in …
POSTED MARCH 16, 2026 7:00 AM |
Lyft Settlement Ensures Rights of Disabled Passengers with Service Animals
The ride-sharing company Lyft will ensure the rights of blind and other disabled passengers across the country to travel with their service animals under a settlement announced in Minnesota on Wednesday. College student Tori Andres turned to the Minnesota Department …
POSTED MARCH 16, 2026 7:00 AM |
Wild Weather Halts Flights, Dumps Snow and Knocks Out Power
Blizzards, wildfires and thunderstorms swirling toward the eastern US have knocked out power to thousands and grounded hundreds of flights across the Midwest. Heavy snow touched off blizzard warnings from South Dakota to Michigan’s Upper Peninsula on Sunday, the National …
POSTED MARCH 16, 2026 6:00 AM |
US Judge Orders Funding of Consumer Watchdog Agency to Continue
A federal judge on Friday ordered the Trump administration to continue funding the U.S. Consumer Financial Protection Bureau indefinitely, saying top officials had unlawfully relied on deficient legal advice to justify their refusal to do so. The ruling from U.S. …
POSTED MARCH 16, 2026 5:19 AM |
EPA Moves to Weaken Pollution Limits on Ethylene Oxide
The Environmental Protection Agency proposed Friday to weaken air pollution limits on a chemical used to sterilize medical equipment, a move that would reverse a Biden administration finding of high cancer risks at manufacturing facilities that use ethylene oxide to …
POSTED MARCH 16, 2026 5:12 AM |
AM Best Revises Outlooks to Stable for Farmers Mutual Fire
AM Best reports it has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Farmers Mutual Fire Insurance Company of Marble, Pennsylvania. AM …
POSTED MARCH 16, 2026 5:00 AM |
Busiest US Seaport Largely Insulated From Iran War Disruptions, Exec Director Says
The busiest U.S. container seaport in Los Angeles is mostly insulated from supply chain upheaval sparked by U.S.-Israel attacks on Iran that have spiraled into a regional conflict, its executive director Gene Seroka said on Thursday. The Iran war has …
POSTED MARCH 16, 2026 5:00 AM |