At the heart of the dispute is a tension baked into the policy itself. On one hand, the policy explicitly covers losses from claims alleging sexual harassment, unwelcome sexual advances, requests for sexual favors, or other misconduct of a sexual nature. On the other, a Sexual Abuse Exclusion strips away coverage for any claim alleging, arising out of, based upon, attributable to, or in any way relating to actual or alleged sexual molestation or sexual abuse. A third provision, Endorsement 12, states that Allied has a duty to defend any claim covered in whole or in part under the policy…
Author: Awais
78% of companies were targeted by a ransomware incident in the past year
Franklin Templeton Investment Solutions, the hedge fund-focused arm of the global asset manager, has maintained its overweight conviction on the catastrophe bond asset class, with the firm citing that while yields and spreads have compressed compared to last year, the market remains healthy, with no evidence of weakening fundamentals.The opening quarter of 2026 saw catastrophe bond and related insurance-linked securities (ILS) issuance hit $6.7 billion, as a Q1 record 35 transactions came to market from a variety of repeat sponsors and three first time sponsors. Commenting on the cat bond market’s growth in the opening quarter of 2026, Franklin Templeton…
Two months after the deadliest avalanche in modern California history, an analysis by leading U.S. experts is questioning the decisions by the guides to lead such a large group through dangerous terrain amid avalanche warnings. The backcountry skiers were traveling in a tightly packed line, when the tour leaders with Blackbird Mountain Guides should have spaced them out to reduce the risk, according to the report prepared by the Sierra Avalanche Center and published Saturday on the National Avalanche Center site. Related: Ski Guides in Spotlight as Investigators Probe Deadly California Avalanche “Exposing only one person at a time to…
Companies raised $4 billion in the first quarter, an increase of $1 billion over the prior year, according to Rock Health. But nearly 60% of the capital deployed came from 12 large deals.
On a recent weeknight, three tenants of an aging Bronx building were trading apartment horror stories inside a packed ballroom lined with city bureaucrats. The occasion was the third in a series of “rental rip-off hearings,” a new forum launched by New York Mayor Zohran Mamdani for disgruntled renters to air their complaints directly to housing officials — and in some cases, the mayor himself. As she waited in line, Gulhayo Yuldosheva said she worried that noxious mold in her apartment had worsened her child’s asthma. Nearby, her downstairs neighbor, Marina Quiroz, was showing a video of rats scurrying through…
War risk premiums for vessels transiting the Strait have risen sharply, in some cases increasing from around 0.2% of hull value to as much as 1.0% within days. This represents a fivefold increase, significantly raising the cost of a single voyage and, in some cases, rendering transit commercially unviable.
Executives are tying AI use to promotions and layoffs
Marsh McLennan Agency has acquired Seitz Insurance Agency in Montana. All employees, including David Seitz and Camila Skinner, the agency principals and co-owners, will join MMA and continue to operate out of their existing office locations. Seitz is a Sidney, Montana-based independent agency founded in 1961. It primarily provides commercial and personal lines of insurance services to businesses and families in the region, with a specialization in agriculture, crop and energy industries. It acquired Polson, Montana-based Bishop Insurance Services in 2023, adding to its personal and business insurance offerings in the Flathead and Mission Valley area. MMA is a business…
The Tennessee Department of Commerce and Insurance has joined a few other states in urging insurers to be careful about using aerial imagery in making claims and nonrenewal decisions, following some complaints from homeowners. The department is not aiming to limit the use of drones and satellite images by insurers, but said in a bulletin Wednesday that “insurers must be mindful, though, that aerial imagery…has its limitations and should not be the only information utilized in an insurer’s decision-making process.” If bird’s-eye shots of a property do not accurately reflect the condition of a roof, the images alone are not…
MARQUETTE, Mich. — Providing abortions was the last thing Shawn Brown thought she’d be doing when she opened an urgent care clinic in this remote town in Michigan’s Upper Peninsula. But she also wasn’t expecting the Planned Parenthood in Marquette to shut down last spring. Roughly 1,100 patients relied on that clinic each year for cancer screenings, IUD insertions, and medication abortions. Now the area has no other in-person resource for abortions. “It’s a 500-mile stretch of no access,” Brown said. So the doctor, who describes herself as “individually pro-life,” added medication abortions to Marquette Medical Urgent Care’s already busy…
The Trump administration warned cyberattackers with links to Iran are targeting critical US infrastructure including drinking water systems and the energy sector. The attacks are aimed at technology used in water and sewer systems along with government facilities and services, the Environmental Protection Agency, the FBI and other agencies said in a joint statement Tuesday. The warning didn’t specify where they were occurring. “The FBI and its partners are issuing this advisory to ensure organizations are best positioned to defend themselves against exploitation by Iran-affiliated cyber actors,” Brett Leatherman, assistant director of the FBI’s cyber division, said in the statement.…
NFP, an Aon company and leading property and casualty (P&C) broker and benefits consultant, announced the acquisition of Sherman Insurance Agency, Inc., a full-service agency specializing in trucking, commercial, personal and benefits insurance solutions. Based in South St. Paul, Minnesota, Sherman strengthens NFP’s presence in the Upper Midwest and enhances its Transportation and Logistics practice. As part of the transaction, Sherman leaders John Glieden, Kyle King and Peter Lobe will join NFP as senior vice presidents, and Jennifer Carter will join as vice president. All will report to Amanda Ruback, managing director, P&C, Central region. Founded in 1931, Sherman Insurance…
Parametrix is delighted to see expanded support from investors across the market to cover the tail risk of cloud outage events through Hannover Re’s successful renewal of its landmark parametric catastrophe bond, Cumulus Re (Series 2026-1), Sharon Haran, Managing Director of Parametrix Analytics, has said.As Artemis reported on March 9th, Hannover Re sponsored a second successful renewal of its landmark parametric cloud outage catastrophe bond, this time securing $35 million in retrocessional cyber reinsurance protection covering cloud outage events through the Cumulus Re (Series 2026-1) issuance. As we said at the time, this is the reinsurer’s largest yet as Hannover Re…