About a dozen people were taken to hospitals with injuries Saturday after a boat explosion near Miami, the Miami-Dade Fire Rescue agency said. The charter boat was in Biscayne Bay, near Haulover Sandbar, when the blast erupted on board, according to preliminary information from the Florida Fish and Wildlife Conservation Commission. More than two dozen rescue units responded in the afternoon and “encountered multiple patients requiring medical attention,” Miami-Dade Fire Rescue said in a statement. It said it transported 11 people to hospitals. Neither agency provided any information about the condition of those who were injured. The state Conservation Commission…
Author: Awais
President Donald Trump’s swift rejection of Iran’s response to a U.S. peace proposal pushed oil prices higher on Monday, fueling concerns that the 10-week-old conflict will drag on and continue to paralyze shipping through the Strait of Hormuz. Days after Washington floated an offer aimed at reopening negotiations, Iran on Sunday released a response focused on ending the war on all fronts, including Lebanon, where U.S. ally Israel is fighting Iran-backed Hezbollah militants. Tehran also demanded compensation for war damage, emphasized its sovereignty over the Strait of Hormuz, and called on the United States to end its naval blockade, guarantee…
GM has agreed to pay $12.75 million to resolve a California investigation into allegations that the Detroit automaker illegally sold two data brokers detailed information about the driving habits of hundreds of thousands of Californians, state Attorney General Rob Bonta said on Friday. The settlement, subject to court approval, includes $12.75 million in civil penalties. It also restricts GM’s use of consumer driving data compiled about subscribers to its OnStar service and a ban on such data being sold to brokers. It includes a five-year ban on sales of personal data. The data that GM sold to the brokers included…
Spanish global reinsurer Mapfre Re’s sponsorship of its third and largest catastrophe bond yet, the $200 million Recoletos Re DAC (Series 2026-1) issuance, underscores the company’s disciplined approach to risk management, as well as its commitment to securing well-aligned protection for Mapfre Group, Miguel Rosa, CEO of Mapfre Re has said.As we’ve been reporting, Mapfre Re, the reinsurance arm of the Mapfre Group, successfully priced its third and largest catastrophe bond sponsorship earlier this month, with the tranche of notes on offer pricing at the lowest-end of guidance. “The transaction represents a significant milestone, introducing for the first time indemnity‑based, per‑occurrence…
Following the recommendation of the Senate Executive Nominations Committee, the full Maryland Senate has confirmed the appointments of four members to the Maryland Automobile Insurance Fund Board of Trustees. Steven D Linkous Steven D. Linkous was reappointed to serve the remainder of a five-year term that began on October 1, 2025. Linkous is president and chief executive officer of Harford Mutual Insurance Group, where he has led the organization for nearly two decades. He has experience in insurance, financial management, technology and corporate governance. Enor R Williams Jr. Enor R. Williams, Jr., who previously served on the Maryland Automobile Insurance…
California Gov. Gavin Newsom is asking the federal government extend disaster assistance programs for thousands of victims of the January 2025 Los Angeles wildfires who are still working to rebuild. Newsom is requesting a 12-month extension of the Federal Emergency Management Agency’s Individuals and Households Program which provides financial and housing assistance to disaster survivors. The extension would allow eligible survivors to continue receiving support through July 9, 2027. According to the California Office of Emergency Services, nearly 29,500 households that may be eligible for that assistance were still in the middle of insurance claims, and nearly 1,000 households are…
Divestiture is paired with a balance sheet move designed to lift earnings
Safepoint Insurance on Friday filed its paperwork for a U.S. initial public offering, disclosing a 96.9% revenue jump last year as a strong run of new IPO listings from Florida-based insurers extends into 2026. The company reported a net income of $165.6 million on revenue of $516.3 million for the year ended December 31, compared with a net income of $24.3 million on revenue of $262.2 million in 2024. A series of legislative reforms introduced in 2022 have significantly improved the property insurance landscape in Florida, a market where some large national insurers have trimmed their exposure due to frequent…
Across all age groups who used AI during enrollment, respondents said they used these tools to compare different benefits options, get general information, obtain personalized recommendations, calculate costs or estimate expenses, and, in nearly a third of cases, to have “someone” tell them exactly what to choose or buy.
ST. CLOUD, Minn. — Cori Roberts was living in a rented basement four years ago when she was diagnosed with early-stage cervical cancer. Recently divorced, the former stay-at-home mother had started working again in her mid-40s, taking a human resources job that paid $41,000 a year. Then, despite having insurance, she was hit with more than $8,000 in medical bills. “I had my car and a basket of clothes,” Roberts recalled. “Medical bills were not something I could have afforded.” Roberts sought financial assistance from CentraCare, the St. Cloud-based health system that treated her. It’s a nonprofit charity that receives…
As storm chaser Ashton Lemley picked his way through a tornado-ravaged Mississippi trailer park, he heard the unmistakable meow of a kitten pierce the predawn darkness. The homes were flattened just hours earlier as storms spawned at least three tornadoes across the bottom half of Mississippi, injuring a dozen at the trailer park in the rural community of Bogue Chitto. Lemley had no idea where the kitten was, but he was determined to find it. After a few minutes, the meowing stopped, and Lemley feared the worst. Then, five minutes later, he heard it again. “I said, ‘Oh, he’s still…
No injuries were reported after an explosion and a fire at a refinery in the New Orleans area on Friday, officials said. Residents near Chalmette Refining said they heard an explosion at around 1 p.m. The refinery is in Chalmette, located about 10 miles (16 kilometers) east of New Orleans. Chalmette Refining said in a post on social media that a fire broke out at an operating unit. The St. Bernard Fire Department worked with refinery personnel to bring the blaze under control. “Everyone working in the area is safe and accounted for,” the company said. “The cause of the…
Thirty former Ohio State football players, including some former NFL players, have agreed to join a federal lawsuit against the university over the sexual abuse of student athletes decades ago by a team doctor, a lawyer in the case said Thursday. The lawyer, Rocky Ratliff, said in an interview that the men came forward some eight years after the first lawsuit was filed because they needed to overcome the shame of revealing that they’d been sexually abused by another man and the fear of taking on the university publicly. They are “tearful and living with it,” Ratliff said. “But as…
A losing streak in litigation finance is attracting hedge funds and other alternative investment managers looking to invest in legal claims at distressed valuations, according to people familiar with the matter. Firms working in distressed-debt special situations including Davidson Kempner Capital Management LP and Attestor are looking to buy up such assets at valuations as low as 10 cents on the dollar, the people said, asking not to be identified discussing private deals. In some cases, buyers are taking on distressed assets for free, and agreeing to pay the seller a small amount if the underlying lawsuit wins. Litigation finance…