A UK poll shows that a new Brexit referendum would reverse the vote that led to Britain’s departure from the European Union a decade ago. Fifty-two percent of Britons think the UK should rejoin the EU, according to an Ipsos survey of 1,137 British adults conducted between May 14 and May 20. That’s the inverse of the mood in June 2016 when a comparable share of the electorate backed Brexit. Almost half of Britons support a repeat of that referendum, with opinion evenly split on whether it should happen before or after the next general election. Asked how they would…
Author: Awais
The US Supreme Court reinforced the Securities and Exchange Commission’s power to recover illegal profits in a case that centered on one of the agency’s most potent enforcement tools. The justices ruled unanimously Thursday that SEC doesn’t have to show identifiable investor harm in order to win “disgorgement” from people and firms found to have violated federal securities laws. The ruling will shape a panoply of SEC cases in which victims aren’t easy to pinpoint, from low-profile record-keeping violations to major insider trading allegations. The SEC used disgorgement to secure orders for more than $6 billion in fiscal 2024 and…
The rapid expansion of digital infrastructure creates exposures traditional insurance markets are struggling to absorb. But alternative risk transfer (ART) solutions provide buyers with tools to reshape data center risk and create insurable structures where traditional capacity falls short, with insurance-linked securities emerging as a primary strategy, according to Aon.In a recent commentary, Aon observed that large-scale, capital-intensive exposures are redefining the risk landscape. This is particularly evident in sectors with concentrated values and long-dated demand, such as digital infrastructure. “This growth is creating risks that outpace traditional insurance capacity, contributing to limit shortfall and structural coverage gaps,” Aon explained.…
Following the recent launch of Hamilton Insurance Group’s first casualty reinsurance sidecar, Craig Howie, Group Chief Financial Officer, explained that the sidecar enhances Hamilton’s ability to support casualty reinsurance underwriting through scalable and efficient capital solutions.The Bermuda-based specialty insurance and reinsurance company, recently launched its first casualty reinsurance sidecar with a plan to cede around $300 million of premium to it over the multi-year duration of structure. It was also reported at the time that investment capital and asset management responsibilities for the sidecar will be provided by global investment firm Sixth Street. Speaking during Hamilton’s Q1 2026 earnings call…
Many enrollees don’t know they’ll need to report work, education or volunteer hours starting in less than six months in order to stay covered, according to a recent survey from the Health Management Academy.
Superintendent Robert Carey retired from the Maine Bureau of Insurance (BOI) on June 5, the Department of Professional and Financial Regulation announced. Deputy Superintendent Tim Schott has been named acting superintendent. Nominated by Governor Janet Mills as superintendent in 2024, and confirmed unanimously by the Maine Senate, Carey has played a key role in the BOI’s regulation of the insurance industry. The department cited the BOI’s efforts under Carey to keep Maine’s auto and homeowners insurance rates in check and create resources to fortify Maine homes against extreme weather. The BOI reported that in 2025 it saved residents $5.8 million…
A New York state appellate court has rejected Wayne LaPierre’s appeal of the monetary judgment and injunction levied against him after a state jury in 2024 found that he violated his fiduciary duties in his role as an officer of the National Rifle Association (NRA). One June 2, the Appellate Division, First Judicial Department of the New York State Supreme Court, upheld both a jury order requiring him to repay $4.3 million in damages to the NRA and a court order prohibiting him from holding any fiduciary position as an officer or director of the NRA or any NRA entity…
A North Carolina couple this week was awaiting court action after they were charged with filing claims with two different insurance carriers—State Farm and Homesite Insurance, court records show. Gurjant Singh Gill, 42, and Karmpreet Kaur Gill, 41, of Raleigh, were charged with insurance fraud in May after investigators with the state Department of Insurance found duplicate claims for the same hail damage, according to the DOI and Wake County court documents. In February, the Gills claimed $30,000 damage from wind and hail, including creased shingles and downspout damage, and filed a claim with Homesite, part of the American Family…
The US Department of Agriculture confirmed an additional two cases of New World screwworm in Texas, bringing the total number of detections in the US to four and raising concerns that the parasite is spreading in the state. The parasitic fly was detected in a calf in La Salle County and a dog in Andrews County, the agency said in a Monday release. That comes after two cases were confirmed last week in calves in Zavala County in South Texas, marking the first US detection of the fly in over a decade, and the first in cattle in about five…
Governor JB Pritzker issued an order pausing state tax incentives for data centers in Illinois after the state legislature stalled his plan to keep data-center energy costs from affecting local residents’ bills. Pritzker, a Democrat seeking his third term, said his order was in response to the legislature’s failure to raise data centers’ electricity rates, given their high energy usage, which he asked them to do in February. He plans to push the issue during the veto session in mid-November. “Data centers are asking just too much for too little in return, whether it’s electricity or clean water,” Pritzker said…
The manufacturer of a firefighting foam that contaminated the water supply in northeastern Wisconsin with PFAS chemicals for decades agreed to a $10 million settlement with the state, the governor and attorney general announced on Thursday. The settlement comes as residents, communities, regulators and environmental activists across the country are struggling with how to address contamination from PFAS, also known as “forever chemicals.” Democratic Gov. Tony Evers hailed the settlement with Tyco Fire Products as a “historic and important milestone” in the fight for clean water. The lawsuit filed in 2022 alleged that Tyco, a subsidiary of Johnson Controls, had…
Willis, a WTW business, announced the expansion of its international property facility, now able to offer up to US$60 million of follow capacity per placement. The facility’s expanded lead panel of Lloyd’s syndicates is able to quote competitively across a range of primary and excess layers. The automatic follow capacity, which is supported by Willis’ algorithmic digital platform Neuron, has also expanded with new markets. The territories are specifically focused internationally, covering Europe, Asia, Australia, New Zealand, South Africa, Latin America, the Caribbean and Canada, with appetite for risks such as airports, leisure and hospitality, industrial sites, infrastructure, manufacturing, retail,…
While the hard market in property insurance and reinsurance has ended and the direction of travel for rates is generally down, Ian Beaton CEO of global specialty re/insurer Ark said he still feels there is rate adequacy this year and maybe into next. But, given the investor interest in casualty ILS, he was less certain on the outlook for those longer-tailed lines.Beaton was speaking at the White Mountains investor day last Friday and provided an overview of the Ark insurance and reinsurance business and the market conditions it is facing. On the property segment and property catastrophe risks, Beaton explained,…
City leaders said the regulation risks undermining the Affordable Care Act exchanges and adding new costs for local governments. Now, they’re suing to overturn the rule.