Catastrophe bond funds in the UCITS format added over $650 million in assets just in the month of April, as the combined assets under management (AUM) of the UCITS cat bond fund sector reached almost $20.5 billion, having now expanded by 6.5% so far in 2026.Recall that, these UCITS catastrophe bond funds grew strongly through 2025, adding roughly $5.3 billion or 39% across the asset base of the UCITS structured cat bond fund strategies. The expansion continued in the first-quarter, with UCITS cat bond fund assets growing to over $20 billion for the first time ever in February, but then…
Author: Awais
Two Orlando contractors have been sentenced to at least two years in federal prison after orchestrating a decade-long scheme to pay workers off the books and avoid taxes and workers’ compensation insurance premium payments. Rene Maricio Escobar, 55, and Juana Nelida Escobar, 36, of Escobar Plastering, should also try to pay $37 million in restitution to the Internal Revenue Service, a federal judge said this week. Court documents and testimony showed that from 2015 through 2024, the Escobars ran a program that accepted a fee equal to about 7% of subcontractors’ payroll. The firm would then provide false certificates of…
Private insurers, he added, have been able to respond more quickly to shifting weather patterns and emerging flood exposures. “I think the private industry is moving faster than the federal government can in that respect,” Dickson said. “When you can (price flood risk) precisely and accurately, I think you can have sharper conversations with customers and help them make better decisions.”
Hospital food rarely draws rave reviews. But efforts by the Trump administration to get hospitals to ditch unhealthy fare are facing criticism for going too far. The Department of Health and Human Services sent notices to hospitals asking them to align their food purchases with the administration’s 2025-30 dietary guidelines to ensure continued eligibility for Medicaid and Medicare payments. “We commend the many hospitals who have made commitments to improve their food offerings, and expect every hospital system to do so,” HHS spokesperson Andrew Nixon said. Top Kennedy adviser Calley Means took to social media to explain the initiative, urging…
As the Sackler family worked through a plan to pay $6.5 billion to resolve their liability over Purdue Pharma LP’s production of addictive opioids, the epidemic hit even closer to home. Joss Sackler, the wife of former Purdue board member David Sackler, admitted deleting WhatsApp messages showing she was the intended recipient of a shipment of prescription drugs seized by US border agents in 2024. Sackler, who said she was addicted to opioids at the time, pleaded guilty to obstructing a federal grand jury investigation into the transaction. “I am so truly sorry that when I was suffering from my…
Nissan Motor Co. is canceling plans to make a pair of fully electric SUVs at a factory in the US, citing waning demand among American consumers for all-electric vehicles. The decision, which was relayed Thursday to dealers and parts suppliers in the US, comes as part of a broader recalibration of its product strategy as the Japanese carmaker seeks to conserve cash. Nissan had previously frozen plans to start manufacturing EVs at the plant in Canton, Mississippi, where it expects to build a V6 engine-powered hybrid version of its Xterra SUV. “Canton does have a future that will include diverse…
The Strait of Hormuz remains effectively closed to commercial shipping after the US and Iran clashed overnight near the waterway, attacking each other’s assets in the area. US forces targeted missile and drone launch sites and other military assets in the Islamic Republic that they said were responsible for attacking three US warships transiting the strait. The clashes risk undermining talks over a US-proposed deal to end the war, with Iran expected to send a response shortly. President Donald Trump again threatened more intense strikes if Iran refuses his terms. Tehran responded, saying on X that the continued hostile action…
Project Leapfrog will help clients test coverage and exposure scenarios in real-time
Elizabeth Schwartz will head up government relations at the for-profit hospital trade association as health systems brace for federal funding cuts.
Florida’s governor has signed House Bill 803 into law, dropping building permit requirements for construction work valued at $7,500 or less. The law takes effect July 1. “A local government that issues building permits shall exempt an owner of a single-family dwelling or the owner’s contractor from the requirement to obtain a building permit to perform any work valued at less than $7,500 on the owner’s property,” the bill reads. The exemption does not apply to property in a flood hazard area. A sponsor of the changes said it was designed to help speed up minor projects, such as fences…
The National Highway Traffic Safety Administration said Friday it is opening an investigation in a series of crashes of start-up Avride autonomous vehicles that raised questions about the competency of the vehicles. NHTSA said the vehicles’ performance may indicate inappropriate assertiveness and insufficient competence “and may also constitute traffic safety violations,” and added some crashes resulted in property damage and one reported minor injury. NHTSA noted that Avride is operating some of its AVs on the Uber UBER.N platform and has offered passenger service to the public since December in Dallas, where many of the crashes occurred. Topics USA Texas…
Novatae Risk Group, the wholesale insurance business of World Insurance Associates, announced that Brian Voorhees will be joining the company as its new managing director of personal lines. In this role, Voorhees will lead Novatae’s personal lines with responsibility for setting strategic direction, driving growth and delivering strong operational and financial performance. He will oversee the expansion of product offerings, strengthen carrier and broker partnerships and guide the evolution of underwriting and placement capabilities to support scalable client-focused growth. Voorhees is a seasoned insurance executive with extensive experience across underwriting, business development, product management and operational leadership. Most recently, he…
Fertilizer makers are seeing a windfall from Iran’s war, highlighting the impact of the conflict’s upheaval on supply chains for the key crop nutrients. CF Industries Holdings Inc. and Nutrien Ltd. each reported nearly 20% jumps in sales for the latest quarter as they benefited from higher prices for nitrogen fertilizers, which are applied across US corn and soy fields to support crop yields. While the situation is benefiting the producers, the results are likely to add to concerns from farmers and politicians about inflation in the agriculture markets, after growers have already been struggling with low crop prices and…
While spending on prescription drugs accounts for a relatively small share of overall Medicaid spending, Medicaid drug spending has grown in recent years. As a result, both states and the federal government continue to prioritize the management of rising prescription drug costs. There have been several recent Trump administration prescription drug initiatives, including negotiating “most-favored-nation” (MFN) drug pricing deals. These MFN agreements are based on the premise that the U.S. shouldn’t pay higher prices for prescription drugs than other comparable nations. The deals include agreements by drug manufacturers to provide MFN pricing in Medicaid and other commitments in return for a 3-year reprieve from tariffs, though…