Stellantis is recalling more than 1.3 million Jeep SUVs and trucks worldwide over fire concerns and is urging owners to park outside and away from structures or other vehicles until a fix is completed. In a filing with the National Highway Traffic Safety Administration on Tuesday, Stellantis said the recall covers 2021 through 2025 model year Jeep Wrangler SUVs and Jeep Gladiator trucks over an electrical connection issue in the electric hydraulic power steering pump wiring. The automaker said the issue could in rare circumstances cause combustible materials to overheat, potentially leading to a vehicle fire. A loose electrical connection…
Author: Awais
The total for settled catastrophe bond issuance across Rule 144A deals and the private cat bond transactions we have analysed so far in 2026 has reached $16.1 billion as of today, while settled 144A cat bond issuance alone currently stands at over $15.8 billion.Right now, based on latest sizes for the remaining cat bonds in the market pipeline for the first-half of this year, our up-to-date projection for H1 2026 total cat bond issuance is now around $16.96 billion, which would be the second biggest first-half ever for the cat bond market, slightly below the $17.56 billion we analysed and…
A new survey from the Insurance Information Institute (Triple-I) and Munich Re US shows overlapping exposures are shaping today’s risk landscape. Triple-I and Munich Re’s RiskScan 2026 examines evolving risk perceptions and interconnected exposures in the United States and United Kingdom insurance markets. More than 1,700 participants were surveyed in the U.S. and U.K, across five key insurance market segments: consumers, small business owners, middle-market decision-makers, property/casualty insurance agents and brokers, and P/C insurance carriers. RiskScan 2026 provides two in-depth reports: RiskScan 2026 (Re)insurancehighlights the growing alignment around related risks that are reshaping economies and societies and cites persistent insurance…
A federal judge ruled that the fee amounted to an unlawful tax on the visa program for highly skilled workers. Medical groups cheered the decision.
The death toll from the strongest earthquake to hit the Philippines in five decades has increased to 37, an official said, with rescue operations underway as families and businesses grapple with huge damage to properties. Office of Civil Defense Assistant Secretary Bernardo Rafaelito Alejandro said 487 people were injured and four were reported missing following the temblor that struck Monday morning. “Our search and rescue and rapid damage assessment are ongoing. These numbers can change,” he told local radio DZBB on Tuesday. “Many residential and commercial establishments collapsed.” Around 2,000 houses were affected, more than 400 of which were totally…
Icosa Investments AG has confirmed the appointment of Dr. Raffaele Dell’Amore as a Partner and member of the firm’s management team. In this role, he will lead the continued expansion and institutionalisation of Icosa’s offering, with a particular focus on catastrophe bonds and insurance-linked securities (ILS).We reported on May 14th that Icosa was adding the ILS and cat bond investments specialist as a new Portfolio Manager for its growing Icosa Cat Bond Fund strategy later this year. Icosa has now confirmed Dell’Amore’s appointment as a Partner at the company, with his official start set for July 2026. Dell’Amore brings over…
People across south Florida reported feeling a 6.1-magnitude earthquake centered off the western tip of Cuba on Monday, a reminder that the region may have more than hurricane losses to think about. No injuries or damage were reported, but residents and workers as far north as Orlando said they felt the shaking and vibrations Monday afternoon, according to news sites, social media postings and the National Weather Service. Miami-Dade County officials evacuated several buildings as a precautionary measure. That included the 28-story county government building, the Associated Press reported. And service for commuter trains in the area was halted for…
China-linked hackers posed the biggest espionage threat to technology companies over the past year, CrowdStrike, a cybersecurity firm, said in a report published on June 9, amid surging investment in artificial intelligence. The hacking campaigns align with the Chinese government’s strategic priorities and a sustained interest in technology development, intellectual property, and information with strategic and economic value, the firm said. The technology sector was once again the most targeted industry by both foreign governments and cybercriminals, the report found. It focused on threats to companies that research, develop or distribute computer hardware and technology, IT services and consulting, semiconductors,…
Economic, Employment, and Tax Consequences in 2029: All States Will LoseIn 2029, when H.R. 1 provisions are fully implemented, we project that all states will lose federal funding and suffer substantial economic and employment losses.Medicaid. In 2029, federal Medicaid funding will drop by $90.9 billion, causing state GDPs to fall by $118.5 billion (Appendix 4). Medicaid cuts also mean 996,000 fewer jobs nationwide in 2029, half of which will be health-related, including in hospitals, clinics, pharmacies, or nursing homes. States with the largest job losses include California, New York, Pennsylvania, Illinois, Texas, Arizona, Ohio, and Michigan, which lose between 150,200…
Total workers’ compensation costs per claim in Pennsylvania are high relative to other states included in a recent study from the Workers Compensation Research Institute (WCRI). The study found that after declining from 2020 to 2022, total costs per claim in Pennsylvania resumed growth after 2021 and increased faster in 2025 than 15 of the other 17 states studied including Texas, Michigan, Massachusetts, California, Florida, New Jersey, North Carolina and Virginia. Only Iowa and Louisiana reported faster growth. “Pennsylvania’s workers’ compensation costs reflect changes across several components, but higher indemnity benefits per claim stand out as a key factor behind…
This edition of International People Moves details appointments at the broker Miller Bermuda and Lloyd’s insurer Tokio Marine Kiln (TMK). A summary of these new hires follows here. Miller Bermuda Taps Stubbings From McGill and Partners as Chairman Miller, the London-based independent specialist re/insurance broker, announced the appointment of Peter Stubbings as chairman of Miller Bermuda. With over four decades of reinsurance industry experience, Stubbings brings deep expertise across multiple lines of business and a wealth of client relationships across London, Bermuda, the Caribbean and the Nordics. Peter Stubbings He joins Miller from McGill and Partners, where he served as…
Applied Partners LLC was sentenced to pay a $500,000 fine and complete a two-year term of probation for the company’s illegal handling of regulated asbestos containing material (RACM) at a site in Saginaw, Michigan. The company had previously pleaded guilty to violating the Clean Air Act’s asbestos work practice standards for its role in demolishing a structure in 2019. Inhalation of asbestos fibers can lead to cancers like mesothelioma and lung cancer or noncancerous conditions like asbestosis. According to court documents, Applied Partners acquired a defunct industrial site in Saginaw in 2018 with the intention of demolishing and scrapping structures…
NFP, an Aon company and leading property and casualty (P&C) broker and benefits consultant, announced the acquisition of certain assets of Signature Personal Insurance, LLC (SPI), a Greater Kansas City, Kansas-based independent personal lines agency specializing in high-net-worth clients. Roper DeGarmo, founder of SPI, will join NFP as vice president, reporting to Mary Mullen, senior vice president of Personal Risk in NFP’s Central Region. Founded in 2004, SPI provides tailored insurance solutions to high-net-worth individuals and their families with complex personal risk profiles, including luxury homes, fine art and rare automobiles. They prioritize direct client engagement, supported by long-standing relationships…
The rollout marks the second wave of deployments in 2026 after the VA largely paused the project for years to fix technical issues and errors.