Local, state and federal officials were aware of the dangers posed by the Cheboygan Lock and Dam for years before floodwaters pushed it to the brink of collapse, records show. Yet they failed to compel private owners to repair the nonfunctional hydro plant connected to the publicly-owned dam — a critical piece of its ability to pass floodwaters downstream. The facility that houses the plant, once a Charmin toilet paper mill, changed hands repeatedly over decades as it fell into disrepair. Now taxpayers are helping bankroll a desperate effort to bring the plant back online before the dam fails and…
Author: Awais
Brown & Riding is celebrating being named among this year’s 5-Star Wholesale Brokerages and MGAs. In this interview, chief distribution officer Cristi Carrington explains the story behind the success, how it delivers for retailers and how its ownership structure plays into its long-term strategy.
Brandi Carter needs her wine. As the owner of Levure Bottle Shop in Jackson, Mississippi, she sells natural wine delivered to her business by a state agency responsible for distributing alcoholic beverages to liquor stores, bars and restaurants. But delays caused by problems in a state warehouse have led Carter and many other retailers to see their inventory dwindle and their business drop as they wait for new shipments. Carter, who also handles the beverage program for a restaurant in Jackson, said she has been dealing with delays since February, and she’s feeling helpless as traffic in her store goes…
The catastrophe bond and insurance-linked securities sector can be a significant beneficiary of the revolution in artificial intelligence (AI), with applications such as process improvement, enhanced underwriting and analytics, as well as powering the ILS industry to do more, speakers discussed at the SIFMA ILS conference in Miami last week.One of the panels at SIFMA’s annual insurance-linked securities conference last week spoke about the implications of artificial intelligence within ILS and how the industry is adopting it. Bobby Bray, Senior Vice President, Insurance-Linked Securities Origination and Structuring at Guy Carpenter’s specialist capital markets unit GC Securities, said he sees meaningful…
The U.S. Justice Department is preparing an antitrust suit against a few major egg producers, including Cal-Maine Foods and Versova, over alleged price coordination, the Wall Street Journal said on April 17, citing people familiar with the matter. Shares of Cal-Maine Foods were down nearly 3% in extended trading following the news. U.S. egg producers have been facing a growing wave of class action lawsuits accusing them of price-fixing amid consumer frustration over higher prices of food products, including eggs. The cost of eggs in the U.S. has been skyrocketing in recent years after bird-flu outbreaks wiped out millions of…
Noam N. Levey and Katy Golvala and Jenna Carlesso, CT Mirror BRISTOL, Conn. — Many hospital systems in Connecticut have stopped suing their patients over unpaid bills, stung by criticism about the harm caused by aggressive collection tactics. But physicians, dentists, ambulance companies, and other health care providers are still taking their patients to court, a Connecticut Mirror-KFF Health News investigation of state legal records shows. Lawsuits by doctors and other nonhospital providers now dominate health care collections in Connecticut, the records show, accounting for more than 80% of cases filed against patients and their families in 2024. That’s a…
A Massachusetts judge on Friday blocked GE Vernova GEV.N from abandoning work on the largest offshore wind farm in New England after developer Vineyard Wind refused to pay over $300 million the turbine supplier says it is owed for the $4.5 billion project. Suffolk County Superior Court Judge Peter Krupp in Boston issued a preliminary injunction at developer Vineyard Wind’s request preventing a GE Vernova unit from terminating their contract and ceasing work effective April 28. “The project is at a critical phase and the loss of VW’s principal contractor would set the project back immeasurably and threaten VW’s financing,”…
Howden, the global insurance broker, hired Patrick Thomas as Howden U.S. managing director within the company’s trucking specialty vertical. Thomas leads Howden’s U.S. trucking strategy, overseeing the continued build-out of a dedicated, nationwide trucking practice serving motor carriers, owner-operators, fleets and logistics providers. Thomas joins Howden with over 18 years of experience in the trucking and transportation sector. He is recognized for his hands-on industry knowledge, strong carrier and client relationships, and ability to structure insurance programs for businesses of all sizes. As a member of Howden’s senior U.S. leadership team, Thomas will play a key role in advancing Howden’s…
That Americas unit, established earlier in 2026, centralizes alternative risk expertise across the US, Canada and Bermuda under Sylvain Bouteillé, who joined AXA XL in August 2025. It initially focuses on captive solutions, structured risk solutions led by Austin Su, group captives led by Joseph Davina, and single cell parent captives.
A man carrying a backpack with an AR-style pistol inside was arrested Thursday after walking into health insurer Aetna’s headquarters in Connecticut, police said. Security guards detained the man without incident shortly after 10 a.m., within 3 minutes after he entered the Hartford building. They held him until city police officers arrived, a spokesperson for Hartford police said. It wasn’t immediately clear what the man’s plans were, Lt. Aaron Boisvert said. The man was brought to Hartford police headquarters and charged with illegal possession of an assault weapon, criminal possession of a firearm, possession of a large-capacity ammunition magazine and…
A skydiver crashed into the Lane Stadium scoreboard before Virginia Tech’s spring football game Saturday. Virginia Tech officials said on X that the skydiver “was safely secured and is currently stable” following rescue efforts. The incident caused a delay in the start of the spring game. The name of the skydiver wasn’t released. “Our primary focus remains on their well-being,” Virginia Tech officials said in a statement. “We extend our sincere appreciation to the first responders, event staff, and medical personnel for their swift, coordinated and professional response.” Virginia Tech later put out a statement on X saying that the…
At the heart of the matter is the Portland Harbor Superfund Site, where PacifiCorp says it has incurred losses tied to investigation and cleanup costs. The company originally sued three of its insurers – Century Indemnity Company, St. Paul Surplus Lines Insurance Company, and Westport Insurance Corporation – in January 2025, alleging breach of contract, unfair environmental claims settlement practices, and seeking a declaratory judgment.
After Iranian Foreign Minister Abbas Araghchi posted on X on Friday that the Strait of Hormuz was “completely open,” a tanker stuck in the Persian Gulf immediately lifted anchor and began heading for the narrow waterway. The ship believed it had permission to cross as part of a deal to get Indian ships out, its owner told Bloomberg, speaking on condition of anonymity in order to discuss sensitive information. The vessel was communicating with Indian officials via a WhatsApp group and over email. As the ship neared Iran, it picked up a recorded message saying that the strait was blocked,…
India has expanded the pool of Russian insurers eligible to provide marine cover to ships docking at its ports, increasing the number to 11 from eight, according to its Directorate General of Shipping. India has permitted Russia’s Gazprom Insurance and Rosgosstrakh Insurance to provide protection and indemnity coverage until February 19, 2027, while the registration of Balance Insurance is valid until August 19, 2026. The South Asian nation has also extended the registration of Russia’s Soglasie Insurance, Sberbank Insurance, Ugoria Insurance Group and ASTK Insurance until February 20, 2027, to provide protection and indemnity (P&I) cover for ships. India, the…