Beazley, the specialty insurer, has announced the appointment of Sundeep Khera as head of Marine, effective April 21, 2026. As part of the Marine, Accident & Political (MAP) Risks team, Khera will lead the Marine, Energy, Aviation and Space teams, reporting to Tim Turner, group head of MAP Risks. Sundeep Khera A recognized leader in the London market, Khera brings 30 years’ experience in the marine sector. He joins from AXA XL, where he was global chief underwriting officer for Marine Hull & War and head of Marine and Energy UK & Lloyd’s. During his tenure, he led the development…
Author: Awais
The U.S. Department of Labor has ordered an inspection company to reinstate and compensate a terminated worker who reported safety concerns during installation of a natural gas pipeline in Watonga, Oklahoma. The department’s Occupational Safety and Health Administration investigated a whistleblower complaint filed against New Mexico-based Legacy Energy and Distribution LLC that alleged a construction crew was installing a pipeline without following federal regulations. The complainant used “stop work authority” to halt the installation and contacted an independent, third-party testing company to verify observed concerns, which Legacy later confirmed as valid. Legacy subsequently fired the inspector, alleging failure to follow…
Digital platforms and MGAs are adding pressure to the segment, despite growing demand for coverage
Aligning electronic data submission requirements for prior authorizations is one prong of the insurance industry’s commitment to reform the unpopular preapprovals.
The Travelers Companies said it intends to expand its homeowners insurance offerings across California. Travelers notified the California Department of Insurance it intends to expand homeowners insurance availability across the state, explaining in a news release the move is due to the Sustainable Insurance Strategy, which is intended to increase availability by enabling carriers to use forward-looking wildfire catastrophe models and factor reinsurance costs into rates. Related: California Insurance Commissioner Race Has Diverse Field Amid ‘Insurance Crisis’ “Offering risk-based pricing for coverage facilitates a fair, competitive and healthy market for all participants,” stated Michael Klein, executive vice president and president…
Global and regional natural catastrophe activity and loss totals were lower in the first quarter of 2026 than in comparable quarters of previous years, leaving the re/insurance industry well-positioned as it heads into the more costly second and third quarters, according to Gallagher Re. “We now estimate that it would require a single event (or a series of large events) resulting in an insured loss of at least $115 billion to $125 billion – above the expected average annual catastrophe losses – to meaningfully impact the trajectory of pricing in the property sector of the industry,” Gallagher Re said. Q1…
The U.S. Supreme Court is set on Monday to consider Bayer AG’s effort to shut down thousands of lawsuits accusing the company of failing to warn users that the active ingredient in its Roundup weedkiller causes cancer. The justices are due to hear arguments in Bayer’s appeal of a jury verdict in Missouri state court awarding $1.25 million to a man named John Durnell who said he was diagnosed with non-Hodgkin lymphoma after years of exposure to glyphosate in Roundup. Bayer contends that a federal law governing pesticides should prevent failure-to-warn claims like Durnell’s that are brought under state law…
On April 22, 2026, the House Appropriations Committee released its Fiscal Year 2027 appropriations bill. The bill includes discretionary funding for U.S. global health programs at the State Department as follows: Global Health Programs (GHP) account: The main account that supports global health programs totals $8.9 billion in the bill, $532 million below the FY 2026 amount ($9.4 billion) and $3.8 billion above the President’s FY 2027 budget request ($5.1 billion). The bill provides two envelops of funding: 1) President’s Emergency Plan for AIDS Relief (PEPFAR) and Global Fund to Fight AIDS, Tuberculosis and Malaria (Global Fund), which includes funding…
In order for the catastrophe bond market to meet its full potential John Seo of Fermat Capital Management LLC believes onshore United States options for issuers would be beneficial, saying it’s time this was seriously considered.As activity levels continue to build in the catastrophe bond market, with rising interest on both the sponsor and investor side, it’s natural to explore ways of making the asset class more compatible with their needs and increase accessibility to it, including across jurisdictions and regions. Onshore options for cat bonds in the United States is a topic that has repeatedly been raised over the…
American International Group Inc. made it official with an announcement today that Eric Anderson will become president and CEO on June 1. Most recently a member of Aon Plc’s executive committee, Anderson will succeed current AIG CEO Peter Zaffino, who will become executive chair of the company’s board of directors. AIG previously announced the succession plan in January. Anderson joined AIG in February. The announcement on April 27 marked the “successful conclusion” of the plan, AIG said. The company provided no explanation for the transition. Zaffino took over as CEO of AIG in March 2021, succeeding Brian Duperreault. “Serving as…
Georgia insurance commissioner John King used his statutory authority to bar property insurance policy cancellations until further notice, due to wildfires that have displaced homeowners across the state. King’s April 23 directive bars cancellations for nonpayment of premiums in 91 of Georgia’s 159 counties, where fires this month have forced more than 200 residents to flee. Some 120 homes were destroyed, and 1,000 were under threat over the weekend, the Associated Press reported. “In a significant number of these counties, consumers will be unable to access mailing and postal services,” King’s directive notes. “Without access to these services, residents are…
“We’re very proud to present excellent financial results for 2025. Once again, Beneva generated significant value for its members,” said Jean-François Chalifoux, president and chief executive officer. “In an environment where innovation and agility remain essential, we deployed key initiatives to enhance our offering, strengthen operational excellence, and elevate our members’ and partners’ experience.”
At least seven ships – mainly dry bulk vessels – have crossed the Strait of Hormuz in the past 24 hours, in line with muted activity in recent days, shipping data showed on Monday, while talks between Iran and the United States have stalled. The vessels included ships leaving from Iraqi ports and one dry bulk vessel from an Iranian port, according to ship tracking data from Kpler and separate satellite analysis from data analytics specialists SynMax. Shipping traffic passing through the crucial waterway at the entrance to the Gulf during an uneasy ceasefire between Washington and Tehran represents a…
Underwriter is holding margins firm even as a softening market eats into one of its key growth engines