Hopes for a peace deal on Iran faded on Tuesday after Donald Trump said a ceasefire with Iran was “on life support” as Tehran rejected a U.S. proposal to end the conflict and stuck to a list of demands the U.S. president described as “garbage.” Iran has called for an end to the war on all fronts, including Lebanon, where U.S. ally Israel is fighting Iran-backed Hezbollah militants. Tehran also emphasized its sovereignty over the Strait of Hormuz, demanded compensation for war damage, and an end to the U.S. naval blockade, among other conditions. Trump said Iran’s response threatened the…
Author: Awais
The Trump administration asked the US trade court to pause a ruling that declared the president’s latest 10% global tariffs unlawful while the government appeals, meaning importers would keep paying the levies while the legal fight continues. In a 2-1 decision last week, a US Court of International Trade panel found that President Donald Trump’s use of Section 122 of the Trade Act of 1974 to impose the tariffs was invalid, although the court only immediately blocked enforcement for two companies that sued and Washington state. Despite the limited scope of the court’s order for now, the Justice Department argued…
A federal judge is asking for more information about a proposed settlement between Elon Musk and the US Securities and Exchange Commission, after the billionaire agreed to pay $1.5 million to end a lawsuit alleging he waited too long to disclose his growing stake in Twitter. Attorneys for Musk and the SEC are set to appear before US District Judge Sparkle Sooknanan on May 13, according to the order she issued May 8. Sooknanan will consider if “the settlement is fair, adequate, reasonable and appropriate” and “whether it was tainted by improper collusion or corruption.” It is typical for judges…
As legacy and run-off reinsurance specialist, Enstar increasingly provides solutions for the insurance-linked securities (ILS) market, we spoke with Dan Sanford, Managing Director, M&A, at the company’s office in Bermuda, about the role of ILS in the legacy space.In April, Enstar announced an agreement to provide streamlined exit solutions for Artex’s ILS investors, a move which builds on a number of completed property ILS transactions and its establishment of its own Scaur Hill Re sidecar, as the company deepens its ILS activities and capabilities. In light of this, we spoke with Sanford about ILS in the legacy sector, touching on…
Phoenix wants 100% of the bill – and says a 50/50 offer falls short
00:01 Insurance Business TV recently attended in Scottdale the 25th annual TMPAA annual summit. Whilst there, we caught up with leading insurance professionals to address some of the top challenges the industry is facing today.00:17 I’m here with Matthew Jones, head of business development and Transverance Ventures as MS Transfer.00:26 The specialty program market is evolving rapidly with curries, MGA’s gravitating towards hyper niche verticals. What are some of the underlining market forces pushing this trend towards such specialized programs?00:40 So I think what we’re observing here is probably a return to the roots of the MGA market. If you…
UCITS catastrophe bond funds currently stand at an average return for 2026 through May 1st of 1.91%, while their performance over the last twelve months stands at an average return of 10.37%, according to the latest data from the Plenum CAT Bond UCITS Fund Indices.Catastrophe bond funds in the UCITS format returned 0.55% on average through the period of March 27th 2026 to May 1st 2026, the latest data available. That was a slightly better performance than the previous monthly data, which saw these cat bond funds returning 0.35% on average through the period of February 27th to March 27th…
According to Google’s analysis, the exploit script bore unmistakable hallmarks of AI-generated code: an abundance of educational annotations, a hallucinated severity score, and a clean, textbook-style structure characteristic of large language model output. Based on these indicators, GTIG said it had high confidence that an AI model was used to both identify and build the exploit, though it said the tool was most likely not Google’s own Gemini.
The lawsuits started in early 2026. Beginning on or about January 23, 2026, Bucks County residents named NEFS as one of several defendants in eight cases filed in Philadelphia courts and federal court. According to the complaint, the claimants allege the leak caused a catastrophic environmental disaster that polluted soil, water, and air and injured their homes and health. They say the fuel smell goes back to September 2023. The causes of action against NEFS include negligence, public and private nuisance, negligent infliction of emotional distress, and medical monitoring.
A Frontier Airlines passenger jet struck and killed a pedestrian on a runway at Denver International Airport during a planned takeoff for Los Angeles late on Friday, the airport said in a statement. The Frontier flight reported striking an individual during takeoff and abandoned its departure. The pedestrian, who has not been identified, had jumped the perimeter fence and was hit just two minutes later while crossing the runway, the airport said. The individual is not believed to be an employee of the airport, the statement said. The incident caused a brief engine fire with smoke in the cabin on…
Willis, a business of insurance and reinsurance broker WTW, has launched a new sensor-based parametric insurance solution designed to protect UK racecourses against localised flooding.The product was developed in collaboration with flood forecasting firm Previsico, Descartes Underwriting, a specialist underwriter of parametric risk transfer opportunities, and Generali, which will act as the insurer. The launch of this sensor-based parametric solution comes as flood risk continues to rise across the UK, with related costs on track to rise by up to 50% and hit £3.6 billion by 2050. Racecourses, which are typically located on low-flying floodplains are especially vulnerable to flood-related…
By the time the call came, the runway was gone. A mediation had already happened in early June 2025. Starr and Homesite were there; Great American says it had no idea it was happening. At that mediation, the plaintiffs demanded “substantially more” than the underlying $7 million. They later came back with a lower demand that, per the complaint, would have resolved the case within the Starr and Homesite limits. Peterson-Chase, Starr, and Homesite turned it down, the filing says.
In a landmark case earlier this year, K.G.M. v. Meta Platforms, Inc. et al., a jury held major social media platforms responsible for the mental health harm of an adolescent due to their platforms’ addictive design features. This case underscores growing concerns about adolescent mental health and substance use and draws attention to the factors that may be linked to these concerns. In recent years, a large share of adolescents reported heavy screen time and social media use, trauma exposure – including direct and indirect exposure to gun violence – loneliness, and sleep deprivation. These experiences are tied to poor…
Charter Oak Fire Insurance Company, part of Travelers, sued Zurich American Insurance Company in the Southern District of New York on May 8, 2026. Travelers wants a judge to declare that Zurich must defend and pay for Central Hudson Gas & Electric Corporation in more than 20 lawsuits tied to a gas explosion in Wappingers Falls, New York, on November 2, 2023. It also wants Zurich to repay the defense costs Travelers has been footing in the meantime.