The compensation committee recommended the move, with further terms set to be disclosed in a Current Report on Form 8-K. Board chairman Thomas Newgarden said Kingstone had “returned to record profitability and established a clear road map for measured expansion” under Golden, citing the insurer’s planned entry into California and further state expansion.
Author: Awais
A 1-in-100-year hurricane event in New York City could cost insurers more than $100 billion, according to an analysis by Karen Clark & Co (KCC). And a 1-in-250-year hurricane could cost insurers twice as much, the catastrophe modeler says. While New York does not face the same natural catastrophe exposure as areas such as Florida, the state is not immune to large losses. New York has nearly $9 trillion in insured property exposure—$6 trillion of it concentrated in coastal counties—which means even rare events can create outsized losses, KCC says in its newest white paper, New York Exposure to Natural…
Burning time for North American wildfires is going into overtime. Flames are lasting later into the night and starting earlier in the morning because human-caused climate change is extending the hotter and drier conditions that feed fires, a new study found. Fires used to die down or even die out at night as temperatures dropped and humidity increased, but that’s happening less often. The number of hours in North America when the weather is favorable for wildfires is 36% higher than 50 years ago, according to a study Friday in Science Advances. Related: Public Interest Groups Backing California Homeowners Insurance…
Transcript Chip Kahn: Healthcare is about caring about the people who deliver it and the patients who depend on it. But to make that caring happen, to sustain it, and to meet the expectations of every patient who walks through the door, there is a business that has to work. This podcast is about that business. Welcome to KFF’s Business of Health. I’m Chip Kahn. Americans who work in health care are driven by professionalism and mission. But professionalism and mission don’t run on good intentions alone. How care is financed, how it is delivered, how technology is deployed, how…
The smell of rotten eggs permeates Steve Egger’s Southern California home, especially at night as the nearby Tijuana River foams up with sewage from Mexico before emptying into the Pacific Ocean. Egger, 72, says he and his wife have frequent headaches and wake up congested and coughing up phlegm. Their home is outfitted with a hospital-grade filtration system that cycles the air every 15 minutes. Despite those measures, “most nights we breathe in a horrible stench,” he said. “It’s awful.” Since 2018, more than 100 billion gallons (378 billion liters) of raw sewage laden with industrial chemicals and trash have…
The current conflict in the Middle East has been as disruptive commercially as it has been geopolitically. Many businesses operating in the region are suffering from a combination of sharp demand declines, blocked routes to market, surging input costs, and physical damage to assets. Consequences are being felt by manufacturers, logistics operators, energy companies, and retailers alike. For businesses navigating these impacts, the question is not only whether insurance coverage exists, but whether the financial evidence is sufficient to support a claim once coverage is established. The quantum of any business interruption claim is only ever as credible as the…
Eaton Vance, part of Morgan Stanley Investment Management, has benefitted from the strong return environment in insurance-linked securities and reinsurance sidecar investments, with its allocations seemingly all accruing positive value.We’ve reported before on three of the Eaton Vance mutual fund portfolio strategies that contain allocations to ILS and reinsurance sidecar strategies. Last time, we noted the investment manager appeared to have made an upsized commitment to the Swiss Re Core Nat Cat Fund and a fresh investment into Munich Re’s sidecar vehicle Eden Re II. Now, with data accessible for six months further ahead, as of October 31st 2025, the…
The global wind industry installed a record 165 gigawatts of new capacity last year, up 40% from 2024 and mostly driven by China, a report by the Global Wind Energy Council said, adding this still lagged the pace needed to hit a key climate goal. Renewable power made up almost half the world’s total electricity capacity last year. This year, oil and gas prices have soared due to conflict in the Middle East and countries are looking for alternatives to meet rising energy demand. The rise in wind capacity installation was driven by strong demand for new onshore wind, which…
Fraudulent messages promising safe passage through the Strait of Hormuz in exchange for cryptocurrency have been sent to some shipping companies whose vessels are stranded west of the waterway, Greek maritime risk management firm MARISKS has warned. The U.S. has maintained its blockade of Iranian ports, while Iran has lifted and then re-imposed its blockade of the Strait of Hormuz, through which roughly a fifth of the world’s oil and liquefied natural gas passed before war broke out in the Middle East. Amid ceasefire talks, Tehran, which controls the chokepoint, has proposed tolls on vessels to safely transit. MARISKS on…
A Massachusetts woman has been arrested and charged with illegally collecting workers’ compensation benefits while being employed at a storage facility in Connecticut. The Connecticut Chief States Attorney’s office reported that Mackenzie Coonan, of Rutland, Massachusetts, was arrested by inspectors from the Workers’ Compensation Fraud Control Unit for allegedly not reporting income from another job while collecting the disability benefits. According to the arrest warrant affidavit, in March 2024, Coonan reported suffering a head injury while working in the warehouse area of the Staples distribution center in Putnam. Coonan claimed she struck the back of her head on metal shelving…
In a lawsuit filed on April 17, 2026, in the Southern District of New York, Berkshire Hathaway Homestate Insurance Company and Redwood Fire and Casualty Insurance Company say three affiliated companies – Corbel Communications Industries LLC, Corbel Communications Industries of California Inc., and Citi Connect Industries LLC – owe $1,180,921.95 in additional workers’ compensation and employer’s liability premiums that turned up after post-policy audits. The two carriers are also asking the court to hold three individual defendants – Angelo Pino, Jr., Michael R. Pino, and Angelo John Pino – personally on the hook for the bill.
The final tally for the 2025 Atlantic hurricane season ended up including eight tropical storms, one category 4 hurricane (Gabrielle) and three category 5 hurricanes (Erin, Humberto, Melissa). Only one event, Hurricane Imelda, fell into the intensity classes sometimes described as “moderate” hurricane (categories 1, 2 and 3). Is the near absence of moderate hurricanes in 2025 part of a long-term trend of changing storm intensities? The historical record provides evidence that minor hurricanes are being squeezed out by weaker tropical storms and the strongest hurricanes. The proportion of hurricanes reaching moderate intensities (categories 1 to 3) is shrinking. Over…
The refund system set up to allow companies to recover illegally collected tariffs from the U.S. government went live on Monday as thousands of companies rushed to file claims. “So far, so good” – though the system is a little glitchy, said Jay Foreman, CEO of toymaker Basic Fun, which had a team in its “war room” at its headquarters in Boca Raton, Florida, ready to start filing when the system went live at 8 a.m. U.S. Eastern time (1300 GMT). Foreman said the system didn’t crash as some had feared it might under the onslaught of attempted submissions –…
The U.S. Supreme Court declined on Monday to hear a bid by Bank of America and seven other major financial institutions to prevent American cities from banding together in a $12 billion class action accusing them of artificially inflating interest rates on a popular municipal bond. The justices turned away an appeal by the banks brought after a lower court upheld a judge’s decision to certify the lawsuit brought by Baltimore, Philadelphia, San Diego and other cities as a class action. The Supreme Court’s action paves the way for the suit to proceed as a class action. The other banks…