After a key setback in the first trial of its kind before a federal jury, Uber is expected to return to court on Tuesday to face a second woman’s claims that she was sexually assaulted by a driver she booked through the app. The jury trial in Charlotte, North Carolina federal court, which is expected to last about three weeks, will help determine whether a recent $8.5 million verdict in Arizona was a fluke or a sign of real trouble for Uber as it faces more than 3,300 similar lawsuits that have been consolidated in federal court. Both cases are…
Author: Awais
The U.S. blockade on vessels entering or leaving Iranian ports adds to uncertainty over shipping through the Strait of Hormuz, which has been all-but-shut since the start of the Iran war. Ordinarily, roughly one fifth of global oil and gas exports transit the Strait of Hormuz. Here’s a look at some of the non-Iranian oil tankers that have passed the strait since the start of the U.S-Israeli war with Iran on February 28, listed by cargo destination. MALAYSIA Liberia-flagged Very Large Crude Carrier (VLCC) Serifos entered and exited the Hormuz Passage trial anchorage that bypasses Iran’s Larak Island on April…
A judge threw out Donald Trump’s $10 billion libel suit against the Wall Street Journal and parent company News Corp., dealing a blow to the president’s ongoing campaign of litigation against the media. The decision Monday in federal court in Miami largely vindicates a 2025 story that suggested Trump sent a lewd birthday note to Jeffrey Epstein more than two decades ago. The judge said the complaint failed to meet the legal standard for a defamation suit but gave Trump until April 27 to file a new complaint. Trump sued over a July 17 story that said he’d sent a…
The policies in question include Liberty primary CGL policies running from June 2009 through June 2015, each with per-occurrence limits of $2,000,000, general aggregate limits of $5,000,000, and a $2,000,000 per-occurrence deductible. ACE provided first-layer excess/umbrella coverage for consecutive periods from June 2009 through June 2025, with per-occurrence limits between $15,000,000 and $25,000,000 depending on the policy year.
U.S. Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell convened an urgent meeting with bank CEOs this week to warn of cyber risks posed by Anthropic’s latest artificial intelligence model, two sources familiar with the matter said on Thursday. White House national economic adviser Kevin Hassett confirmed the meeting during an interview with Fox News’ “The Story with Martha MacCallum.” “Those bankers were in town for meetings that day, and it was appropriate (for) the Secretary Bessent to do what he did. He brought them over to the Treasury, along with Jay Powell, and went through the cyber…
Worried about wildfires sending claims soaring this year, Canada’s property and casualty insurers are pushing owners to flood- and fire-proof homes and urging the government to take climate issues more seriously despite economic turmoil. Insurers Intact Financial, TD Insurance, Wawanesa and Definity Financial face financial pressure as claims surge and in turn push up home-insurance premiums, which rose about 6% last year in Canada. They worry Prime Minister Mark Carney’s prioritization of energy and the economy over risks from climate change could contribute to more wildfire- and flood-related damage over time. Canada, which has nearly 10% of the world’s forest,…
In a federal court filing dated April 10, 2026, Allstate brought claims against four members of the Roopani family – Sohail Roopani, Anil Roopani, Rahil Roopani, M.D., and Barketali Roopani – along with at least 16 related entities, including medical practices, imaging centers, and management companies operating across the Houston area. The case was filed in the US District Court for the Southern District of Texas (Case No. 4:26-cv-02842).
A third Iran-linked tanker was entering the Gulf via the Strait of Hormuz on Tuesday on the first full day of the U.S. blockade on vessels calling at Iranian ports, shipping data showed. U.S. President Donald Trump announced the blockade on Sunday after weekend peace talks in Islamabad between the U.S. and Iran failed to reach a deal. As the three vessels transiting the strait were not heading to Iranian ports, they are not covered by the blockade. Panama-flagged Peace Gulf, a medium-range tanker, is heading to Hamriyah port in the United Arab Emirates, LSEG data showed. The vessel typically…
Negotiating teams from the U.S. and Iran could return to Islamabad this week to resume talks to end the war, sources told Reuters on Tuesday, after the collapse of weekend negotiations prompted Washington to impose a blockade on Iranian ports. While the U.S. blockade drew angry rhetoric from Tehran, signs that diplomatic engagement might continue helped calm oil markets, pushing benchmark prices below $100 on Tuesday. The highest-level talks between the two adversaries since the 1979 Islamic Revolution ended in the Pakistani capital without a breakthrough at the weekend, raising doubts over the survival of a two-week ceasefire that still…
Despite its status as the world’s largest asset class, fixed income is not usually recognised for its environmental or social contributions. However, a recent article argues that investors are overlooking significant opportunities within the space, highlighting catastrophe bonds as a fundamental pillar of impact-driven fixed income.The article comes from David Foye, a Sustainable Finance consultant at the Environmental Defense Fund, who outlined that as climate-driven disasters continue to grow more frequent and severe, a persistent protection gap continues to remain between insured and uninsured losses, which has led to catastrophe bonds being highlighted as a “critical tool” for managing climate-related risks…
In a case involving a rental car hit by an uninsured motorist, the Connecticut Supreme Court has ruled that the auto insurance policy of the driver that extended bodily injury coverage to the rental car must also provide uninsured motorist coverage to the injured passengers even though they are not named insureds on the policy. The state’s high court found that public policy on uninsured motorist coverage set forth in state law and regulations supports requiring that the driver’s Progressive Direct Insurance Co. policy cover the occupants in the rental car. “Our state has consistently maintained a strong public policy…
The Connecticut Senate has confirmed Josh Hershman as the state’s 34th insurance commissioner. Hershman has served as commissioner in an interim capacity since December 2025, replacing Andrew N. Mais who retired from state service last year after nearly seven years as commissioner. “Each day reinforces how essential our work is to Connecticut residents and businesses,” Hershman commented upon the news of his confirmation. “I remain focused on advancing solutions that improve the affordability and availability of insurance across all lines while supporting innovation that strengthens our markets and delivers better outcomes for consumers.” Hershman is a former deputy insurance commissioner…
Soaring demand for insurance coverage related to data center construction is creating a “meaningful growth opportunity” for the industry, outstripping some traditional insurance markets, according to S&P Global Ratings. The market for such coverage could reach $10 billion in premiums in 2026, analysts led by Charles-Marie Delpuech and Patricia Kwan said in a note published Monday. In comparison, annual premiums for the global aviation market are estimated at around $5 billion. “Demand for large, specialized, power-intensive campuses is creating a meaningful growth opportunity” for the global insurance and reinsurance industries, the S&P analysts wrote. The widespread adoption of artificial intelligence…
They include new members of a specialty division and a new board member