Leonardo Denies Liability for Helicopter Crash That Killed Leicester City Owner
Italy’s Leonardo has denied liability for the 2018 helicopter crash which killed Thai businessman Vichai Srivaddhanaprabha, saying in its defense to a lawsuit that its AW169 model is safe. The family of Srivaddhanaprabha, who founded duty-free retailer King Power and …
POSTED DECEMBER 16, 2025 1:50 PM |
Family Feud at New England Grocery Chain Plays Out at Trial Over CEO Ouster
A long-running family feud for control of the $8 billion-a-year Market Basket grocery chain in New England is about to take center stage at a trial to determine whether the former chief executive officer was improperly ousted by his three …
POSTED DECEMBER 16, 2025 1:42 PM |
LA Fires and US Severe Convective Storms Drive Insured Losses of $107B in 2025
Insured losses from natural catastrophes will surpass US$100 billion mark in 2025 for the sixth consecutive year – driven mainly by January’s record Los Angeles wildfires as well as severe convective storms (SCS) in the US, according to a report …
POSTED DECEMBER 16, 2025 1:25 PM |
Trump Seeks Up to $10 Billion in Damages From BBC Over Editing of January 6 Speech
President Donald Trump sued the BBC for up to $10 billion in damages over edited clips of a speech that made it appear he directed supporters to storm the U.S. Capitol, opening an international front in his fight against media …
POSTED DECEMBER 16, 2025 12:32 PM |
Venezuela Says Oil Export System Down After Weekend Cyberattack
Venezuela’s state oil company is still struggling to restore key administrative systems after what it called a cyberattack that hit over the weekend. Petroleos de Venezuela SA’s network, which manages export and import data at the country’s main crude terminal …
POSTED DECEMBER 16, 2025 10:52 AM |
‘Shadow Banking’ Growing at Double the Rate of Traditional Lenders, FSB Says
The non-bank financial sector’s share of global assets grew to 51%, or $256.8 trillion, last year and expanded at double the rate of the traditional banking industry, the Financial Stability Board said on Tuesday. Non-bank financial intermediaries involved in what …
POSTED DECEMBER 16, 2025 9:23 AM |
Bjak Founder Weighs IPO as Malaysia Insurtech Seeks Expansion Into Europe
Bjak Sdn, Malaysia’s largest online insurance aggregator, is mulling an initial public offering within the next two years as it seeks to enter Europe. Bjak is eyeing new markets in Spain and Germany in 2026 following its recent expansion in …
POSTED DECEMBER 16, 2025 8:23 AM |
McKinsey Plots Thousands of Job Cuts in Slowdown for Consulting Industry
As McKinsey & Co. partners gathered in the consulting giant’s birthplace in late October, Bob Sternfels delivered a rallying cry. “We will kick some ass as we start our second century,” the firm’s top executive told the thousands of attendees. …
POSTED DECEMBER 16, 2025 7:11 AM |
FDA Sends Warning Letters to Walmart, Target for Selling Recalled Baby Formula
The U.S. Food and Drug Administration has sent warning letters to four major retailers for continuing to sell baby formula linked to a nationwide outbreak of bacterial illness in infants, even after the products were recalled, the health regulator’s website …
POSTED DECEMBER 16, 2025 6:09 AM |
Alabama Approves Licenses for Med Marijuana Dispensaries With 2026 Start
he Alabama Medical Cannabis Commission on Thursday approved licenses for dispensaries, a key step to making medical marijuana available in the state after years of delay. Commission Chairman Rex Vaughn estimated the products will be available in the spring of …
POSTED DECEMBER 16, 2025 6:02 AM |
NSI Insurance Acquires Florida-Based Mutual Insurance Group
Miami-based NSI Insurance Group has acquired another Miami-headquartered brokerage, Mutual Insurance Group, adding another milestone for the company that has doubled in size in recent years. “We are pleased to welcome Mutual Insurance Group to NSI Insurance Group, as we …
POSTED DECEMBER 16, 2025 6:02 AM |
People: Canal Insurance in SC Names Grimm Chief Underwriting Officer
Trucking coverage specialist Canal Insurance, based in Greenville, South Carolina, has named Matthew Grimm chief underwriting officer, effective this week. Grimm has more than 30 years of experience in the property-casualty insurance business, including leadership roles at Integrated Specialty Coverages, …
POSTED DECEMBER 16, 2025 6:02 AM |
Angels President Wished He’d Known About Drug Use Before Pitcher’s Fatal Overdose
The president of the Los Angeles Angels baseball team testified in a wrongful death lawsuit that the fatal overdose of pitcher Tyler Skaggs was tough for the club and he wished he had known sooner about drug use by the …
POSTED DECEMBER 16, 2025 6:00 AM |
Illinois Precision Machining Company Agrees to Pay $421K to Resolve Alleged False Claims Act Violations
Swiss Automation Inc. has agreed to pay $421,234 to resolve alleged False Claims Act violations relating to its failure to provide adequate cybersecurity for certain drawings of parts that the company machined and supplied to Department of Defense (DoD) prime …
POSTED DECEMBER 16, 2025 6:00 AM |
Trump Orders SEC to Review Proxy Adviser Rules in ESG Rebuke
President Donald Trump issued an executive order seeking to limit the influence of proxy advisory firms, part of a push to curtail how third-party firms attempt to sway the direction of public companies. The executive order issued on Thursday directs …
POSTED DECEMBER 16, 2025 6:00 AM |
World Insurance Reports It Acquired The Fidella Agency of New Jersey
World Insurance Associates announced this week that it acquired the business of The Fidella Agency of Lakewood, New Jersey in September. Fidella was founded in 2011 by Joseph Deutsch. The agency specializes in commercial property/real estate insurance. “We are an …
POSTED DECEMBER 16, 2025 6:00 AM |
New York Says Cab, Rideshare Insurance Rates to Rise 25%
New York officials have told rideshare companies, driver representatives and others in the for-hire vehicle industry that insurance policy rates will rise by an average 25% over the next three years, according to people with knowledge of the state’s plans, …
POSTED DECEMBER 16, 2025 6:00 AM |
Washington Commissioner Issues Letter to Insurers Outlining Post-Flood Expectations
Washington Insurance Commissioner Patty Kuderer issued guidance for flood survivors and the insurance companies and adjusters handling their claims following the evacuation of thousands of Western Washington residents from their homes during the atmospheric river and floods that slammed into …
POSTED DECEMBER 16, 2025 6:00 AM |
Frustration Mounts as Brown University Shooter Remains at Large
Shock over a shooting rampage at Brown University over the weekend is giving way to frustration over the lack of video footage and suspects. Authorities in Providence, Rhode Island, said Monday they hadn’t identified any new persons of interest in …
POSTED DECEMBER 16, 2025 6:00 AM |
Russian Cargo Jet Grounded 16 years in Michigan May Soon Fly Again
One of Michigan’s most enduring sagas in the Upper Peninsula — the grounding of a Russian cargo jet marooned near Marquette for 16 years — may soon come to an end after years of lawsuits, police investigations and feuding over …
POSTED DECEMBER 16, 2025 6:00 AM |
Oklahoma Legislation Aims to Strengthen Consumer Protections, Address Rising Insurance Premiums
Last week, the Oklahoma Insurance Department (OID) announced a comprehensive package of 2026 legislative policy proposals that it said are designed to provide Oklahomans with stronger consumer protections, enhanced transparency and meaningful relief from rising homeowners insurance premiums. In a …
POSTED DECEMBER 16, 2025 6:00 AM |
YA Group Acquires Texas’ J.M. Reagan Consulting
YA Group announced the acquisition of the business of J.M. Reagan Consulting (JMR), a multidisciplinary consulting business specializing in property damage consulting and construction claims. The strategic acquisition strengthens YA’s presence in Texas and enhances its ability to deliver comprehensive …
POSTED DECEMBER 16, 2025 5:52 AM |
State Insurance Legislators ‘Greatly Disturbed’ by Trump AI Regulation Order
The National Council of Insurance Legislators have come out against President Donald Trump’s executive order last week, seen as a hinderance to state regulation of artificial intelligence. NCOIL officers in a statement on Dec. 15 said they are “greatly disturbed” …
POSTED DECEMBER 15, 2025 9:11 PM |
Pacific Northwest Braces for Even More Flooding Rain This Week
Washington and the Pacific Northwest are facing multiple rounds of torrential downpours this week, raising flood risks in the region as residents are still grappling with last week’s historic rains. Heavy rain was peaking Monday in Washington, where as much …
POSTED DECEMBER 15, 2025 6:45 PM |
AIG Gets Approval to Acquire Everest Renewals in 6 EU Countries – in Time for Jan. 1
AIG announced it has received approval to proceed with the acquisition of Everest Group’s renewals in Germany, France, Italy, Netherlands, Spain and Ireland. The European Union deal is part of AIG’s $2 billion acquisition of Everest’s retail commercial insurance renewal …
POSTED DECEMBER 15, 2025 6:33 PM |