US Navy tells shipping industry Hormuz escorts not possible for now
The U.S. Navy has refused near-daily requests from the shipping industry for military escorts through the Strait of Hormuz since the start of the war with Iran, saying the risk of attacks is too high for now, according to sources familiar with the matter.
For better premiums or worse
Being unwed in Montana may now come with a small financial penalty — at least when it comes to insurance premiums.
OSHA workplace violence prevention plan to face audit
A forthcoming federal audit will examine how well the Occupational Safety and Health Administration is addressing workplace violence.
Former FM chief Tom Lawson dies
Thomas A. Lawson, retired chairman and CEO of FM, died Saturday at age 69.
Beazley buys energy MGA kWh Analytics
Beazley on Tuesday said it has bought kWh Analytics, a managing general agent specializing in U.S. renewable energy.
Utah firefighter cancer trust fund bill heads to governor
Utah lawmakers are sending the governor a bill that would create a Firefighter Cancer Benefit Trust Fund that, among other things, aims to reduce workers compensation costs.
Captive owners use hybrid structures to add stability
Hybrid insurance and reinsurance structures that blend traditional coverage with alternative risk transfer are gaining traction among captive owners seeking greater flexibility and protection from volatile pricing, experts say.
Calif. bill would change workers comp medical treatment
A California bill introduced Monday would establish guidelines for injured workers seeking medical treatment during the workday.
Group captives evolving, still have ‘headroom for growth’
Group captives have evolved from a niche risk-financing concept into a rapidly growing segment of the commercial insurance market, experts say.
Gulf conflict drives war risk premiums up 1,000%
Maritime insurance premiums for war coverage have risen sharply as the conflict in the Gulf widens, in some cases by more than 1,000%, Zawya reports, citing Reuters. With most tankers valued between $200 million and $300 million, the new insurance rate of 3% implies a hull war risk premium of about $7.5 million, up from […]
CK Hutchison unit seeks $2B over port seizure
Panama Ports Company SA, a unit of Hong Kong’s CK Hutchison Holdings Ltd., is seeking $2 billion in damages from Panama after losing control of two key ports on the Panama Canal, Associated Press reported. Panama’s government seized control of the Balboa and Cristobal ports after the country’s Supreme Court declared that a concession allowing […]
Zurich to acquire Irish firm from Generali for $391M
Swiss firm Zurich Insurance Group AG’s Irish arm has agreed to buy RedClick Insurance from Italian insurer Assicurazioni Generali SpA for 337 million euros ($391 million), The Irish Times reported. Following the deal’s expected completion by the end of 2026 or early 2027, RedClick will become part of Zurich’s non-life operations in Ireland.
Insurers see surge of political violence cover requests
Insurers and brokers have received hundreds of requests for political violence and terrorism insurance from data centers, energy projects, pipelines, ports and hotels across the Gulf, Luxembourg Times reports, citing Financial Times. Many of the requests have come from western businesses in Gulf countries, which are seen as more vulnerable to direct attacks, said Raj […]
Santam’s premiums edge higher
South Africa-based Santam Ltd.’s 2025 gross written premiums rose to 44 billion South African rand ($2.7 billion) from ZAR41.3 billion in 2024, while its net income increased 10% year on year to ZAR4.1 billion, Reinsurance News reported. South Africa remained the largest contributor to Santam’s GWP, accounting for 81% of the total, while international operations […]
Regional unrest drives higher marine, war risk premiums
General Arab Insurance Federation Secretary General Chakib Abouzaid said all insurance covers related to marine and war risks in the Arab region will become more expensive due to the U.S. and Israel war against Iran, Middle East Insurance Review reported. Abouzaid added that while the Arab War Risks Insurance Syndicate helps when coverage from global […]
Dual, Liberty Specialty team up on Latin American risks
Dual Latin America has partnered with Liberty Specialty Markets Latin America to provide additional property and financial lines capacity for middle market risks across the region, Continuity Insurance & Risk Magazine reported. The partnership builds on an existing global relationship between the two firms.
Livy Dai takes helm at Lockton China
Livy Dai has been appointed as the new chief executive officer of Lockton Companies (China) Insurance Brokers Ltd., Reinsurance News reported. Dai has nearly three decades of experience and was most recently deputy general manager and head of key account management at Aon plc’s China business.
Marsh names Studer head of Marsh Risk, succeeding South
Marsh on Tuesday named Nick Studer president and CEO of Marsh Risk, its main brokerage unit, succeeding Martin South, who was named chief client officer of the parent company.
Aon names Anne Corona to head North America
Aon on Tuesday named Anne Corona as CEO of North America, succeeding Lori Goltermann, who will become vice chair of Aon, effective March 31.
AI, ransomware dominate discussions among cyber insurers
The emerging risks and exposures associated with the onset of artificial intelligence was a major theme in sessions and discussions at the Professional Liability Underwriting Society’s Cyber Symposium in New York last week.