The bill does not establish standards for determining what constitutes a “complete filing,” which could allow the regulator to delay rate requests indefinitely and result in rate inadequacy, the executive noted. He said retroactive refunds would be unlimited and unpredictable, creating confusion and volatility.
Author: Awais
Human-induced climate change, along with land-use shifts and budget cuts, likely worsened recent wildfires in Argentina and Chile that are threatening some of the world’s oldest trees, an analysis has found. These regions are now receiving 20% to 25% less rainfall due to climate change, driven by the burning of fossil fuels, according to a report by World Weather Attribution, also known as WWA, a scientific group that examines extreme weather events days after they occur. “We estimate that similarly extreme fire weather conditions are now nearly three times as likely due to the 1.3C of human-caused warming,” said Clair…
South Korea’s Bithumb said on Wednesday that serious flaws had left the crypto exchange’s internal system susceptible to potential sabotage and failed to prevent an erroneous transfer of more than $40 billion in assets last week. The country’s second-largest virtual asset exchange said it accidentally gave away about 620,000 bitcoins to customers during a promotional event, instead of 620,000 won ($426), triggering a 17% slump in bitcoin’s price. Bithumb CEO Lee Jae-won said the giveaway amounted to 15 times the exchange’s holding of 42,000 bitcoins, largely because a lag of about 24 hours in processing transactions delayed updates to the…
European Council President Antonio Costa said leaders are ready to make another push to unify their markets, arguing that a fracturing world order could force action on languishing reforms. “My feeling is there is a real commitment for all the leaders, and the clear sense of urgency among all of them, that now we need effectively to take decisions with impact,” Costa told Bloomberg News. Costa wants to discuss how to do that on Thursday, when he gathers all 27 European Union leaders at a centuries-old Belgian castle for a day-long retreat. While no major breakthroughs are expected, leaders will…
Estee Lauder sued Walmart in California federal court on Monday, accusing the retail giant of selling knockoffs of Estee Lauder fragrance and skin care brands including Clinique, Tom Ford and Le Labo. Estee Lauder said in the lawsuit that Walmart sold counterfeit products through its website with identical branding to Tom Ford and Le Labo fragrances, Clinique and La Mer skin creams and Aveda hair brushes. The cosmetics company requested an unspecified amount of monetary damages and a court order blocking Walmart from selling the alleged counterfeits. Spokespeople for Walmart did not immediately respond to a request for comment on…
Lori Kelley’s deteriorating vision has made it hard for her to find steady work. The 59-year-old, who lives in Harrisburg, North Carolina, closed her nonprofit circus arts school last year because she could no longer see well enough to complete paperwork. She then worked making dough at a pizza shop for a bit. Currently, she sorts recyclable materials, including cans and bottles, at a local concert venue. It is her main source of income ― but the work isn’t year-round. “This place knows me, and this place loves me,” Kelley said of her employer. “I don’t have to explain to…
Analysts from Autonomous suggest that while reinsurance terms and conditions are set to face increasing pressure as 2026 progresses, any slippage seen in 2025 does not yet indicate that T&Cs are becoming irrational.“A feature of a hard market is tightened terms and conditions, which was particularly true of the last cycle upswing, which saw significant increase in attachment points, as well as the scarcity of supply for frequency or aggregate covers,” Autonomous said in a new report. On terms and conditions, Autonomous also highlighted discussions throughout 2025 regarding slippage, with several high-profile aggregate contracts reinstated. “Broker commentary again appears consistent…
Canadian airlines on Monday suspended flights to Cuba, which warned it was running out of jet fuel, as the U.S. tightens its grip on the communist-run nation’s oil supply by blocking shipments from Venezuela. Air Canada, the country’s biggest carrier, said in a statement that aviation fuel is not projected to be commercially available at airports as of Tuesday, as governments issue notices warning that the supply is likely to be unreliable. Smaller rivals WestJet and Air Transat also canceled flights due to anticipated fuel shortages. The shortfall is set to last from February 10 through March 11, according to…
An insurer allegedly sealed the deal in writing – then walked away without explanation
No reservation of rights, no independent counsel – and that was just the start
Evan Krozy Hinterland Insurance appointed Evan Krozy as the company’s chief underwriting officer and Kristine Harding as executive vice president, commercial package and property, reporting to Krozy. Krozy has more than 25 years of insurance experience, including commercial lines underwriting, specialty lines, programs, portfolio management, product development, compliance, and operations. Most recently, Krozy was chief operations officer at Frederick Mutual Insurance Company. His previous roles include deputy chief underwriting officer at Ascot Group and chief underwriting officer for specialty property at The Hanover Insurance Group. Kristine Harding Harding has more than 17 years of underwriting and brokerage experience, having held…
The state of Maryland made progress in 2025 toward safer roads, with traffic fatalities falling by approximately 18% statewide, according to preliminary data. Motor vehicle crash deaths declined from 582 in 2024 to 480 in 2025, marking the first time fatalities have fallen below 500 since 2014. The largest gains were seen among pedestrians and bicyclists. Fatalities for these road users dropped 33%, from 173 in 2024 to 116 in 2025. Motorcyclist fatalities declined 46%, from 90 to 48 over the same period. “There is no greater priority than protecting our people. This requires strengthening enforcement, investing in infrastructure, and…
A Virginia public school employee must proceed with his workers’ compensation claim appeal without the evidence of a video he believes shows how and when he was injured at work. His employer, the Newport News Public Schools, erased the video before the employee asked for it, prompting him to accuse the schools of spoliation of evidence. A Virginia Workers’ Compensation Commission (VWCC) deputy commissioner rejected the spoliation claim last September and last week the full VWCC let that evidence ruling stand. The public school employee filed his workers’ compensation claim on June 24, 2024, alleging that he sustained a compensable…
U.S. President Donald Trump plans to formalize on Thursday a move to overturn the Obama-era legal basis for federal greenhouse gas rules, which will lead to the repeal of vehicle emissions rules, the White House said on Tuesday. White House press secretary Karoline Leavitt told reporters that Trump will be joined at an event by Environmental Protection Agency administrator Lee Zeldin to formalize the rescission of then-President Barack Obama’s 2009 scientific finding that carbon dioxide endangers human health. She said the move was the largest deregulatory action in U.S. history and estimated it would reduce costs for automakers by $2,400…