Hawaii officials urged people in hard-hit areas to evacuate Saturday due to the state’s worst flooding in more than 20 years, after heavy rains fell on soil already saturated by downpours from a winter storm a week ago. Muddy floodwaters smothered vast stretches of Oahu’s North Shore, a community world-renowned for its big-wave surfing. Raging waters lifted homes and cars and prompted evacuation orders for 5,500 people north of Honolulu, though they were later lifted. Authorities cautioned that a 120-year-old dam could fail. On the island of Maui, authorities upgraded an evacuation advisory to a warning for some parts of…
Author: Awais
Current president and chief executive will move into the role of executive chairman
Massive wildfires have burned vast swaths of grazing lands in Nebraska, endangering cattle producers’ plans for production increases that could help ease record-high U.S. beef prices. The loss of grasslands in the second-biggest cattle-producing state removes a feed source for herds and could delay ranchers from expanding as they struggle with widespread drought, state and industry officials said. Fueled by fierce winds, fires have burned nearly 775,000 acres since last week, covering an area about the size of Rhode Island, according to data from the Nebraska Emergency Management Agency. It added the causes of the fires are undetermined. The largest…
Relation Insurance Services acquired the assets of Chinook Insurance Group, LLC based in Seattle, Washington. Chinook Insurance Group focuses on commercial clients and brings specialized expertise in insurance services for the subsea and aquaculture industry. The company also has additional expertise across directors and officers liability, employment practices liability, professional liability, cyber and kidnap and ransom. Relation is an insurance brokerage that offers risk management and benefits consulting services across the U.S. with roughly 1,350 employees across more than 100 locations. Relation is a privately held corporation backed by Aquiline Capital Partners, a private equity firm. Topics Mergers & Acquisitions…
The Trump Organization’s lawsuit accusing Capital One Financial Corp. of political discrimination and illegally closing its accounts in 2021 was tossed out by a judge, but he said the claims can be refiled if Trump’s company can fix its “deficient” complaint. During a hearing Friday, US District Judge Roy Altman in Miami granted Capital One’s request to dismiss the suit filed byPresident Donald Trump’s sprawling real estate company, which had accused the bank of closing hundreds of its business accounts out of animus toward conservatives in a process known as de-banking. Altman, a Trump appointee, said the complaint was “deficient”…
Not too long ago, Tamala Alejandro said her backyard was lush with a vegetable garden. On the ground, she had watermelons, cantaloupes and potatoes. She loved her herb garden, and her prized possession was her beloved peach tree. But then, she learned about the looming water emergency in Corpus Christi: the city is edging towards a historic shortage. A yearslong drought and a recent boom of refineries settling along Corpus Christi Bay has nearly drained the city’s water supply. Two of the city’s three main reservoirs have shrunk below 10% capacity. Now the city is depending on a patchwork of…
Managing general agents are transforming insurance with speed, specialization, and technology. TMPAA president Brian Cohen joins IB Talk to unpack the current state of the program market, highlight emerging opportunities for brokers, and explain why adaptability (not scale) will define the industry’s future leaders
An Air Canada Express jet collided with a fire truck while landing at New York’s LaGuardia airport late on Sunday, killing both pilots, injuring dozens and closing the facility, authorities said. The Air Canada Express CRJ-900 plane, operated by its regional partner Jazz Aviation, was carrying 72 passengers and four crew members and had departed from Montreal, said Jazz, which is owned by Chorus Aviation. Jazz and the Port Authority of New York and New Jersey confirmed that the pilot and first officer were killed. The crash comes as U.S. aviation faces chronic shortages of air traffic controllers and a…
NormanMax, the expansive US based parametric insurance and reinsurance group with a pure-parametric syndicate at Lloyd’s, has hired Alvaro Espinel Pardo as a Vice President, where he will lead the firm’s strategy and development in Latin and South America.He will join the company on March 23rd, where he will report to Nick Griffiths, Chief Revenue Officer of NormanMax, a reinsurance and retro broking specialist who joined the company last October. NormanMax Insurance Holdings has experienced significant growth since its establishment in 2023 by Bradley Meier, an executive with a distinguished background, having founded Universal Property & Casualty Insurance Company and…
A lawsuit filed Friday blames the owners and others associated with a resort in Costa Rica for the carbon dioxide-related death of former New York Yankees outfielder Brett M. Gardner’s teenage son last year. Gardner and other relatives filed a negligence and wrongful death claim in Philadelphia federal court over the March 2025 death of 14-year-old Miller Gardner at the Arenas Del Mar Beachfront & Rainforest Resort in Manuel Antonio beach, located in Costa Rica’s Central Pacific. The defendants include people who own and operate the resort, including David Callan and R. Scott Williams, as well as Hawk Opportunity Fund…
More than 350 people were hastily evacuated from an Orlando apartment complex last week after fire officials found cracks throughout the building along with doors that wouldn’t open. Local news outlets reported that a panicky resident called 911 Thursday morning to report popping and cracking sounds and a jammed front door at The Rialto, a five-story complex in southwest Orlando. Orange County Fire Rescue workers and a building inspector surveyed the building, found signs of structural instability and decided to evacuate all the residents, the Orlando Sentinel and Central Florida Public Media reported. A structural engineer hired by the complex…
Berkshire Hathaway Inc. will invest 287.4 billion yen ($1.8 billion) in insurer Tokio Marine Holdings Inc., ramping up the US conglomerate’s exposure to the Japanese market. National Indemnity Company, a subsidiary of Berkshire, will make a 2.49% strategic investment in Tokio Marine, according to a statement Monday. The two companies will collaborate on reinsurance and global investments including mergers and acquisitions. The move underscores Berkshire’s growing ambitions in Japan, where around six years ago — under the leadership of Warren Buffett — it revealed it had invested in the country’s largest trading houses. Buffett said in an annual letter to…
Iran will attack Israel’s power plants and those supplying U.S. bases across the Gulf region if President Donald Trump carries out his threat to “obliterate” Iran’s power network, the Revolutionary Guards said in a statement on Monday. They appeared to retract earlier threats to attack desalination plants, which are crucial for providing drinking water in Gulf countries. “The lying … U.S. president has claimed that the Revolutionary Guards intends to attack the water desalination plants and cause hardship to the people of the countries in the region,” said the statement, shared on state media. “Any attempt to attack Iran’s coasts…
Significant firepower on both sides Tokio Marine, Japan’s oldest insurance company, reported consolidated total assets of ¥31.2 trillion (roughly $205 billion) as of March 2025, with adjusted net income of approximately ¥1.07 trillion for the fiscal year. It operates in around 38 countries.