Tenet wants Leapfrog to pay $10.5 million in legal fees after a judge agreed that the nonprofit unfairly deflated Tenet’s hospital ratings. The penalty would “cast a specter of financial ruin” over the nonprofit, Leapfrog said.
Author: Awais
This edition of International People Moves details appointments at Aon in EMEA and Latin America and Markel International. A summary of these new hires follows here. Aon Announces Leadership Promotions for EMEA, Latin America Insurance broker Aon plc announced that Kai-Frank Buechter and Tracy-Lee Kus have been promoted to co-CEOs of EMEA, effective June 1. Buechter will oversee Continental Europe and North Africa, while Kus will be responsible for the UK, Ireland, South Africa and the Middle East. Additionally, Pedro Penalva will serve as CEO of Latin America, effective July 1. Buechter, Kus and Penalva will report to Greg Case,…
Listings of catastrophe bonds and other insurance-linked securities (ILS) soared in the first-quarter of 2026 for the Bermuda Stock Exchange (BSX) and it further grew its market share, as total cat bond and ILS listings on the BSX reached over $68.5 billion.The Bermuda Stock Exchange (BSX) continues to cement its position as the dominant venue for listings of catastrophe bonds and other ILS structures. Through 2025 the BSX expanded its market share as its cat bond and ILS listings reached $65.2 billion, with just over 93% of the cat bond market listed there as of December 31st. With the cat…
A G Equipment Company, a Broken Arrow, Oklahoma compressor packaging manufacturer, will pay $4,250,000 to over 40 workers and provide other relief to settle a religious and disability discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. According to the EEOC’s suit, in the fall of 2021, A G Equipment mandated that all employees receive a COVID-19 vaccination and told workers no exemptions would be permitted for any reason. Nonetheless, several employees requested exemptions based on their religious beliefs. One worker supplemented their request with a doctor’s note requesting an exemption due to a…
Missouri Attorney General Catherine Hanaway announced that her office has resolved litigation with Liberty Utilities, a gas company that failed to properly mark a gas line in Lexington, leading to the death of a child, numerous injuries, and the destruction of a home. The State’s litigation, separate from any private actions filed by the victims of the explosion, concluded with a consent judgment requiring Liberty Utilities to pay the maximum civil penalty of $30,000 for violating the Missouri Underground Facility Safety and Damage Prevention Act and to engage in a remapping process of their gas lines to prevent future tragedies.…
Lilypad, the Sarasota-based, tech-centered property-casualty insurer that acquired Centauri Insurance, has named Rajiv Matta, a holder of patents in the field of machine learning, to harness artificial intelligence to help expand coverage in vulnerable coastal areas. Matta, with 20 years of experience with large carriers and reinsurers, will be chief innovation officer at Lilypad, the company announced. He most recently was chief innovation officer at Millennial Specialty Insurance, a managing general agent in The Baldwin Group. Before that, he led international property and specialty business at Assurant. Matta (Linkedin) “Lilypad is built on a conviction I’ve held for years: that…
The average Affordable Care Act (ACA) Marketplace deductible experienced the steepest increase in history—growing by 37% or over $1,000, from $2,759 in 2025 to $3,786 in 2026 as enhanced premium tax credits expired, according to a new KFF analysis. After the enhanced tax credits ended, many Marketplace shoppers shifted toward lower-premium, higher-deductible plans. Between 2025 and 2026, sign-ups for bronze plans jumped from 30% to 40% of total plan selections—growing from 7.3 million to 9.2 million people. Meanwhile, sign-ups for silver Marketplace plans, which have higher premiums and lower cost-sharing, hit the lowest levels in the program’s history. Silver plan…
NextEra Energy Inc. agreed to pay about $67 billion in stock for Dominion Energy Inc. in the biggest power acquisition ever, creating a giant utility extending from Florida to the artificial intelligence data centers clustered in Virginia. The scope of the transaction underscores how the spike in AI-driven power demand is pushing the utilities sector to seek ever-greater size and clout. The deal would position NextEra as the dominant utility in a region that’s struggling to meet the surge in electricity consumption. Juno Beach-based NextEra, parent company of Florida Power & Light, would pay the equivalent of about $76 per…
From drought to ping-pong size hail and unseasonable warmth, weather extremes have wheat farmers reaching for their phones to ring their insurance adjusters to assess the viability of their crops. Oklahoma farmer Dennis Schoenhals made the call a few weeks ago, after a storm hammered his wheat with icy chunks, bending the stalks in half, while only dropping an inch of rain. “We thought we were really going to have a good crop — the best crop we’d ever had — and then we got hit by hail,” he said. “According to the adjuster, we’ve had about 70% damage. We…
The Tampa Bay Rays and local officials announced a tentative $2.3 billion agreement on Thursday for a new ballpark funded by public and private money. The nonbinding memorandum of understanding among the Rays, Hillsborough County and the city of Tampa outlines the costs of a stadium, which would include $967 million of tax dollars. Elected officials for the city and county are expected to vote on the deal at separate meetings next week. “The Rays respectfully but resolutely encourage Hillsborough County and the City of Tampa to approve the MOU and make possible a Forever Home for our community’s Tampa…
Nathan Frank discusses how the insurer is using AI to engage members, how the company thinks about risks, and the importance of monitoring the tools and soliciting feedback.
It appears as though auto and home insurers have caught up, appropriately matching premium to risk in their portfolios. According to a new report from insurance industry rating agency AM Best, rate increases for homeowners and private passenger auto insurance dropped in 2025 following several years of significant rate increases as insurers’ underwriting profits wound up in the red. In 2025 the average approved rate increase for homeowners insurance was 8.3% compared with 13.5% in 2024. For auto, rates went up 3.7% in 2025 versus up 9.7% in 2024. For five of the six years from 2018 to 2023, homeowners…
As the insurance-linked securities (ILS) market persistently acts as a moderating force, helping to create a more managed reinsurance cycle, PwC expects deeper integration and greater alignment of interests between alternative capital and rated balance sheets, according to Arthur Wightman, Territory Leader of PwC Bermuda.At PwC Bermuda’s offices in Hamilton, Bermuda, Artemis spoke with Wightman about the evolution of the relationship between ILS and rated balance sheets. “ILS penetration in Bermuda is now well over a decade old, and has really helped to transition to a more managed cycle, as opposed to sharply cyclical. And that’s a good thing,” said…
The World Bank has priced a new catastrophe bond designed to help Jamaica cope with the threat of hurricanes. The $200 million bond was oversubscribed by investors, the World Bank said in a statement. The deal comes less than a year after a $150 million Jamaica catastrophe bond, also arranged by the World Bank, paid out in full following the devastation wrought by Hurricane Melissa. Read More: Jamaica Cat Bond Headed for Full Payout, World Bank Says Cat bonds are designed as the ultimate backstop to help provide funds to pay for only the most extreme weather events. The Atlantic…