accommodation and food services (35.1%) retail trade (29.7%) manufacturing (29.5%) US tariffs and cost pass-through The StatCan survey also found that nearly one-third (32.0%) of all businesses, whether engaged in trade or not, reported that tariffs imposed by the United States on imports from Canada had a negative impact on their business over the 12 months prior to the survey. Businesses in manufacturing (51.2%), agriculture, forestry, fishing and hunting (47.1%), and wholesale trade (45.7%) were most likely to report negative effects.
Author: Awais
The Trump administration wants to keep MA rates flat next year and change how risk adjustment is calculated. Insurers had a lot to say about this, CMS officials shared Tuesday during an event in D.C.
NFP, an Aon company and property-casualty insurance brokerage, has launched a new captive management practice with the acquisition of Charlotte-based Trinity Risk Advisors. NFP’s new Group Captive practice will help companies seeking more control over their risks by pooling resources with other businesses, NFP said in a statement. The plan is to help firms evaluate the benefits of a group captive plan and to identify the most appropriate program. The practice will complement NFP’s Risk and Insurance Strategy Collective, a captive consulting and management practice. Alan Wise, president of Trinity Risk, will lead the new practice and will report to…
The day the U.S. Supreme Court struck down the tariffs that had cost Ian Rosenberger’s backpack company Day Owl tens of thousands of dollars, friends started texting him their congratulations. He didn’t share their elation. “I don’t see any possible way to get that money back,” said Rosenberger, whose Pittsburgh-based company, with just a few million dollars in sales, likely could not afford attorneys’ fees. About 2,000 companies, including FedEx, Costco, and L’Oreal, have sued for refunds in the U.S. Court of International Trade, with more litigants likely. The Supreme Court ruled on February 20 that the use of emergency…
The U.S.–Iran war widened on Wednesday after a U.S. strike hit an Iranian warship off Sri Lanka, deepening a crisis that has paralyzed shipping through the Strait of Hormuz for a fifth day and choked off vital Middle East oil and gas flows. The U.S. submarine strike on the Iranian vessel came as U.S. President Donald Trump pledged to provide insurance and navy escorts to ships exporting oil and gas from the Middle East in a bid to contain soaring energy prices. At least 200 ships, including oil and liquefied natural gas tankers as well as cargo ships, remained at…
A container vessel was abandoned after being hit while transiting the Strait of Hormuz, a UK naval group said, as conflict continues to menace commercial shipping in the region. The ship is the Safeen Prestige, according to maritime security companies, and is capable of carrying about 1,800 containers. Its manager couldn’t be immediately reached for comment. The ship’s satellite track shows it sailing through Hormuz and then slowing. UK Maritime Trade Operations said the vessel was hit by an unknown projectile just above the waterline. It led to a fire in the engine room and no environmental impact had been…
On July 4, President Trump signed the 2025 reconciliation law that makes significant changes to the Medicaid program, including new requirements for states to implement work requirements. Starting January 1, 2027, states must condition Medicaid eligibility on meeting work requirements for individuals enrolled through the Affordable Care Act (ACA) Medicaid expansion pathway and through certain state waivers. To ease the burden on individuals, the law directs states to use available information “where possible” to verify compliance with Medicaid work activities or exemption status, without requiring additional documentation from individuals. The Supplemental Nutrition Assistance Program (SNAP), the federal aid program addressing…
Nebraska Attorney General Hilgers this weekannounced a consumer‑protection and child‑safety lawsuit against Roblox Corporation, alleging that the company has knowingly created and maintained an online environment that exposes millions of children to sexual predators, violent content, and illegal activity while misleading parents about the platform’s safety. The complaint asserts that Roblox, despite having detailed knowledge of widespread exploitation occurring on the platform, markets itself as a safe, child‑friendly space while simultaneously failing to implement basic safeguards to protect minors. According to the lawsuit, Roblox has become one of the most widely used online platforms for children, with tens of millions…
Following the annual AIFA conference held in Florida this week, a new report from analysts at Jefferies reveals that industry executives believe it would take a single $100 billion insured loss event to derail the insurance-linked securities (ILS), catastrophe bond, and reinsurance markets.This years event featured an ILS panel, that featured panelists Aditya Dutt, President of Aeolus Capital; Richard Pennay, CEO of Aon Securities; Bernard Van der Stichele, Senior Portfolio Manager at Healthcare of Ontario Pension Plan; and Michelle Soiles, Principal at Yale Investments. As per Jefferies, a key takeaway from the discussion was the panelists’ consensus that a $100…
It was a snowy afternoon in Bozeman, a city of nearly 60,000 nestled among the mountains of southern Montana. Temperatures hovered in the mid-30s. The city’s mobile crisis team had just gotten a call about a man walking around outside without shoes. The man’s family told the team he was having a mental health crisis and wouldn’t come inside. As they drove down the highway toward the city’s outskirts, team member Evan Thiessen spoke with the relative who had reached out. “You’re doing the right thing, and we’re going to make sure he gets help today, OK?” he said. They…
Justin Timberlake is suing to block the release of police body camera footage from his drunken driving arrest in New York’s Hamptons in 2024. The pop star’s lawyers argued in a lawsuit filed Monday against the village of Sag Harbor and its police department that release of the video would “devastate” Timberlake’s privacy by revealing “intimate, highly personal, and sensitive details.” They also said it would cause “severe and irreparable harm” to his reputation by subjecting him to “public ridicule and harassment.” “The footage at issue depicts Petitioner in an acutely vulnerable state during a roadside encounter with law enforcement,…
Nearly every state legislative incumbent was poised to win their primary on Tuesday, in a stark change from the conservative bloodletting rendered in the Texas House two years ago. Two years ago, intraparty warfare resulted in a massive scrambling on the GOP side, but Tuesday’s election results — which suggested at least three incumbents would be ousted — showed that some divisions remain in the majority party while highlighting the departures of Democrats who sought higher office. The most expensive state House primaries this cycle were proxy wars over issues including legalizing casinos, tort reform and a lingering battle between…
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Twenty states are projected to experience Medicaid budget reductions of 5% or more due to the law’s cuts to the safety-net insurance program, according to the Rand analysis.