Georgia-headquartered Oakbridge Insurance, one the largest privately owned brokerages, announced that longtime president and CEO Robbie Smith will be executive chairman, starting July 1. James Matt James, the current chief financial officer and chief acquisition officer, will be named CEO. Trae Vaughn, previously the managing director of the brokerage, will take on the role of president, the company said this week. “The vision and mission of Oakbridge remain unchanged,” James said in a news release. “We are doubling down on what has made us successful: a broadly aligned employee-centric model that empowers both the current and next generation of talent.”…
Author: Awais
Valero Energy Corp. responded to a fire in a unit at its Port Arthur refinery in Texas on Monday, adding pressure to a US fuels market that’s already seen prices skyrocket due to the Middle East war. A fire broke out at a diesel hydrotreater, with the unit suffering severe damage, according to people familiar with the incident. The blaze was near the plant’s fluid catalytic cracker, and part of the refinery has been shut down, according to the people, who said a decision hasn’t yet been made whether to shut the entire plant. A few minor injuries were reported,…
Reinsurance broker Howden Re has released a new report in which the firm sets out a framework for introducing a secondary reinsurance market, noting that it would allow carriers to more efficiently allocate risk, which would ultimately improve and drive greater overall capital efficiency.The firm’s report explained that reinsurance functions as a type of contingent capital, highlighting that by taking on losses, it mitigates earnings volatility and diminishes the risk faced by equity and debt holders. “However, unlike debt or equity, reinsurance does not typically benefit from an active secondary market. Capital must be committed ex ante and priced to…
SoftBank Group Corp. is developing a data center-focused project in Ohio so massive that Chief Executive Officer Masayoshi Son said it would channel $500 billion into a single campus. “We are going to do the largest construction project in the country,” Commerce Secretary Howard Lutnick said Friday alongside Son and Energy Secretary Chris Wright at the site. While the US is witnessing a historic scramble by tech companies to build out artificial intelligence computing, the project’s scale described by Son and Trump officials has little precedent. At 10 gigawatts, the center would be among the largest — if not the…
The Status of Abortion-related State Ballot Initiatives Since Dobbs Last updated on March 27, 2026 Since the Supreme Court’s Dobbs decision, overturning Roe v. Wade, voters in 17 states have weighed in on ballot measures regarding abortion– some more than once. In November 2026, voters in Missouri, Nevada, and Virginia will weigh in on abortion measures that could change the legal status of abortion in their state. In addition, measures in Idaho and Nebraska are in the process of collecting signatures. In 2024, 10 states voted on abortion measures that sought to affirm that the state constitution protects the right to abortion. Nebraska voted on two measures: one seeking to protect abortion and the other seeking to ban abortion after the first trimester. Measures…
Time is running out to recognize the tech partners driving better outcomes across the insurance market
Abbie Taylor, COO of Fortegra, joins Insurance Business TV to discuss how rising complexity is impacting insurance programs. She delves into the capabilities proving critical for success; and how the company’s approach to capital and talent has evolved.
Megan Mason Maryland Insurance Commissioner Marie Grant appointed Megan Mason as associate commissioner of life and health and Giri Govada as associate commissioner of operations and technology. Mason will oversee the agency’s life and health division, which is composed of the rates and forms review unit, the medical director/private review agent oversight unit, the life and health complaint unit, and the appeals and grievance unit. Mason comes to the Maryland Insurance Administration (MIA) from the international law firm Steptoe, where she most recently served as director of government affairs and public policy. Before joining Steptoe, she spent nearly seven years…
New state rules that eliminate natural smokeable hemp products and increase licensing fees will go into effect at the end of the month. Hemp industry leaders say these new regulations will eliminate a majority of their inventory and force those who don’t have extra income to meet these new fees to close stores. Earlier this month, the Texas Department of State Health Services released regulations on consumable hemp-derived THC products that will go into effect on March 31. These new regulations include child-resistant packaging, a significant increase in licensing fees, new labeling, testing, and bookkeeping requirements. The rules also codify…
Vortex Weather Insurance announced the formal launch of direct sales for its HailSafe parametric hail insurance product. Previously available only through third-party vendors, HailSafe can now be purchased directly from Vortex by brokers and weather‑exposed businesses, including open car lots, solar farms, commercial roofs, and agricultural operations. HailSafe policies placed through Vortex rely on an independent third‑party hail measurement source, utilizing a combination of radar, National Weather Service data, storm reports and expert meteorologists. Overland Park, Kansas-based Vortex Weather Insurance is a data‑driven weather risk insurtech and provider of parametric weather. Was this article valuable? Yes No Here are more…
The new agreement will give Humana’s MA members access to CommonSpirit’s doctors and facilities for the next three years, and returns CommonSpirit to Humana’s networks in Colorado and Texas.
It took just days for the Iran war to hobble oil fields, refineries and gas plants across the Persian Gulf, but it could take years to restore their full potential as the conflict drags on. More than three weeks of war have created a massive supply disruption by effectively closing the critical Strait of Hormuz, while also damaging dozens of energy assets. But as President Donald Trump claims talks are under way with Iran to end the conflict, calculating the wider economic fallout must factor in the time it will take to reboot the Gulf’s oil and gas infrastructure. The…
The Lawyers for Civil Justice and the U.S. Chamber of Commerce Institute for Legal Reform are seeking a federal rule to require the disclosure of third-party litigation funding. Currently, the matter is handled in federal courts with mixed results. According to a letter from the groups to the Advisory Committee on Civil Rules, a recent study found federal district judges granted 40% of motions for some form of TPLF disclosure. Also, some federal district and appellate courts have adopted rules requiring automatic disclosure. “Our courts are employing disparate approaches and reaching different conclusions due to the lack of [Federal Rules…
Peak Reinsurance Co. Ltd., the Hong Kong-based reinsurer that specializes in emerging markets, announced that Victor Kuk will become chief executive officer, effective April 20, 2026, subject to regulatory approval. Kuk is succeeding Franz-Josef Hahn, co-founder and CEO of Peak Re, who will transition from his current role and assume the position of special adviser, continuing to provide strategic oversight until October 9, 2026. Kuk is a seasoned insurance executive with over two decades of leadership experience across Asia. He joins Peak Re from Swiss Re, where he served as CEO of Swiss Re Asia Pte. Ltd. and was also…