Commissioner Andrew Mais of the Connecticut Insurance Department announced a 37% increase in the state’s captive insurance sector in 2023. According to Mais, this growth includes the addition of 10 new captive insurers and 13 new cell risk-bearing entities. With …
The U.S. Department of Labor repoorts that it has obtained a consent judgment in federal court that requires a Philadelphia home healthcare agency and its owner to pay approximately $1.6 million in back wages and liquidated damages to 288 workers …
Fermat Capital Management just had the best year in its more than two-decade history, after outsize bets on catastrophe bonds delivered record results. The hedge fund’s returns were “in line” with the 20% gain in the Swiss Re Global Cat …
The US Supreme Court questioned a longstanding legal doctrine that gives federal agencies wide berth to interpret unclear laws as the justices heard two appeals that would constrain environmental, consumer-protection and financial regulators. The court is considering overturning a watershed …
Tangram Insurance Services, an independent managing general agency based in California, has acquired Preferred Reinsurance Intermediaries in Columbia, South Carolina, marking Tangram’s entry into the reinsurance brokerage market. Preferred Re, founded in 1983, works with insurers and reinsurers on traditional …
A California court has dismissed a lawsuit from a group of fishermen against a conservation group that added New England lobster to its list of seafood to avoid. The lawsuit stemmed from a decision by Seafood Watch, which rates the …
Chris Nunnally joined Alliant Insurance Services as senior vice president within its employee benefits group. Nunnally is based in Boston, Massachusetts. Before working with Alliant, Nunnally was area vice president within the Boston office of insurance broker Gallagher and prior …
Mauritius lifted its highest weather alert and eased a nationwide curfew Tuesday after a deadly cyclone battered the Indian Ocean island, causing heavy flooding and extensive damage in the capital and other parts of the country. The nearby French island …
Non-peak (secondary) perils and record-setting weather and climate events drove global insured losses from natural catastrophes to an estimated $123 billion in 2023, the fourth consecutive year to exceed $100 billion, according to Gallagher Re’s annual Natural Catastrophe and Climate …
Freezing weather in Germany and other parts of Europe threatened widespread road, rail and flight disruptions as the region braced for snowfall and heavy ice build-up. Frankfurt’s airport operator canceled more than half of the flights scheduled for Wednesday, while …
