Strong winds whipped around Doug Bartek, a fifth-generation farmer, as he headed into a grain bin to shovel soybeans onto a conveyor chute. The 60-year-old was anxious at the onset of the spring planting season, rattling off the long list of issues affecting his family’s livelihood at their 2,000-acre farm near Wahoo, Nebraska. The high cost of fuel, equipment, and fertilizer — compounded by the Iran war — and also tariffs, perceived “price gouging” by suppliers, and low soybean prices driven by a global supply glut. All of it weighs on Bartek, who is chairman of the Nebraska Soybean Association.…
Author: Awais
Amwins and Vivere have partnered to launch a California FAIR Plan Wrap product. Developed by Vivere and distributed through Amwins, the product offers comprehensive coverage and fast quotes to the entire portfolios of California FAIR plan insureds, including commercial and dwelling risks. Related: California Wildfire Risk Bills Cruising Through Legislature The new wrap product was developed to complement the California FAIR Plan with Using only a completed California FAIR Plan application, retailers can generate quotes for an individual risk or entire portfolios of FAIR Plan insureds within minutes. For commercial risks, the product offers competitive pricing for wrap limits up…
The insurer beat analyst expectations for adjusted earnings in the first quarter. But steeper Medicaid membership losses than expected could saddle Molina with higher costs down the line.
Iran flaunted its tightened grip over the Strait of Hormuz on Thursday with video of its commandos storming a huge cargo ship, after the collapse of peace talks that Washington had hoped would open the world’s most important shipping corridor. Iranian state television broadcast footage overnight of masked troops pulling up in a grey speedboat alongside the MSC Francesca, climbing a rope ladder to a shell door in the hull and jumping through brandishing rifles. The footage, presented with an action-movie-style soundtrack and no commentary, also included views of another ship, the Epaminondas. Iran said it had captured both on…
Head of programs explains the best path forward
JetBlue has been sued in a proposed class action claiming it uses customers’ personal data to set ticket prices, after its response to a social media post raised concern that the carrier employed “surveillance pricing” to make flying more expensive. According to a complaint filed late Wednesday in Brooklyn federal court, JetBlue conceals its use of “trackers” to set prices dynamically, and shares data with third parties whose programs help it decide when to raise fares. “Consumers should not have to have their privacy rights violated to participate in [JetBlue’s] digital rat race for airline tickets which should cost the…
President Donald Trump’s administration on Wednesday moved to make it more difficult to hold companies liable when their contractors or franchisees violate federal wage laws. The U.S. Department of Labor unveiled a proposed rule that would narrow the circumstances in which a business can be considered the “joint employer” of another company’s workers under the federal law requiring a minimum wage and overtime pay. The rule is similar to one adopted by the department during Trump’s first term that business groups backed but Democratic former President Joe Biden rescinded. Easier to Comply: Secretary Acting Labor Secretary Keith Sonderling said the…
France’s forecasting office flagged suspected tampering with weather sensors at the country’s largest airport and referred the case to police, after detecting unusual readings alongside heavy betting on a popular prediction market. Automated temperature readings taken at Meteo France’s weather station at Charles de Gaulle International Airport spiked 4C and 5C unexpectedly in the evenings of April 6 and April 15, respectively, reaching the highest temperature recorded at the site on those days, data from the installation show. Readings from the site are important for the safe operation of the airport. They are also used to settle contracts for daily…
AM Best has removed from under review with positive implications and upgraded the Financial Strength Rating to A (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to “a” (Excellent) from “bbb” (Good) of Louisiana Farm Bureau Insurance Company based in Baton Rouge. The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect Louisiana’s inclusion as a member of Southern Farm Bureau Casualty Group (Southern), which on a consolidated basis has a balance sheet strength that AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk…
It’s never been so expensive for Americans to buy a steak or hamburger, but cutting those costs requires ranchers like Stephanie Hatzenbuhler to raise more cattle — and that’s not an easy ask. For a host of reasons, Hatzenbuhler and other ranchers across the country are reluctant to grow the national herd — now its smallest in more than 75 years — and until they do so, demand will outweigh supply, and beef prices will likely remain high. Adding cattle makes sense for some ranchers, but others are struggling to stay afloat with the cattle they have, Hatzenbuhler said. “They’re…
A joint legislative panel took more than four hours of testimony on a proposal to rescind and amend controversial flood rules approved on Gov. Phil Murphy’s last day in office. The discussion was spurred by a resolution sponsored by Senate President Nicholas Scutari that would declare the regulations out of step with legislative intent and give the Department of Environmental Protection 30 days to amend them and allow the legislature to invalidate them by passing a second resolution. “The PACT rules and the REAL rules have tremendous implications for New Jersey citizens, businesses, and New Jersey’s environment,” said Senate Environment…
American Coastal Insurance Company (AmCoastal Insurance) has now successfully priced its latest catastrophe bond, securing the targeted $200 million multi-peril reinsurance from the capital markets from its Armor Re II Ltd. (Series 2026-1) issuance, this publication has learned.As we’ve previously explained, this Armor Re II Series 2026-1 catastrophe bond marks the first Florida-focused multi-peril cat bond where American Coastal Insurance Company is the sole sponsor. American Coastal Insurance Company returned to the catastrophe bond market in late March, targeting a $200 million source of multi-peril reinsurance protection from the capital markets. In our first update on this deal, we reported that AmCoastal Insurance’s $200…
Two workers were killed and 20 others, including first responders, were injured when a chemical reaction went awry at a silver recovery facility in West Virginia. The reaction and leak happened Wednesday at the Catalyst Refiners plant near Institute, about 12 miles northwest of Charleston, prompting a shelter-in-place order from local authorities, the Kanawha County Commission Emergency Management announced on social media. The Associated Press and other news sites reported that crews were cleaning equipment in the plant when the chemical reaction produced toxic hydrogen sulfide and nitric acid, a county official said. Seven ambulance workers arriving at the scene…
AI-powered firm’s first full quarter on the NYSE delivered records across the board