The growers took the dispute to arbitration, as the policy’s Paragraph 20 required. According to the complaint, the arbitrator’s amended award found that each plaintiff filed his own FSA-578 forms, kept his own tobacco contracts, sales receipts and soybean receipts, and signed his own assignments of indemnity. The arbitrator also found, the filing states, that Hudson “did not review or rely on any of the above documents” before deciding each grower had only a 50 percent insured share, did not produce those documents in discovery, and put on no witness with personal knowledge of how the decision was actually made. The arbitrator…
Author: Awais
Tampa-based HCI Group, now in its 20th year and its 18th year as a publicly traded company, reported a healthy profit for the first quarter of 2026 and significant growth in premium across most of its property-casualty insurance firms. “HCI Group had an excellent start to 2026, delivering record first quarter results for earned premiums, net income and earnings per share,” HCI Group Chairman and CEO Paresh Patel said in a filing with the U.S. Securities and Exchange Commission. The group reported net income of $85 million for Q1. That’s down significantly from the $108 million for Q4 2025 but…
A decade ago, wind power was surging in popularity and attracting huge investments that made Texas a national leader in renewable energy. But today, gas generation is making a big comeback, driven by a wave of data centers flooding into the state. For the last six months, the volume of gas generation in the Texas grid’s interconnection queue — the yearslong waiting list for electric generators wanting to connect to the grid — has surpassed wind. It’s the first time since January 2016 that gas has overtaken wind in the queue, a shift that reflects the policy and economic headwinds…
Illinois Attorney General Kwame Raoul announced a settlement with Vee Pak LLC, doing business as Voyant Beauty (Vee Pak) that resolves allegations the manufacturing company entered into no-poach agreements with several temporary staffing agencies. The settlement requires Vee Pak to pay $625,000 to compensate temporary workers impacted by the unlawful activity. Vee Pak is the last remaining defendant in a lawsuit Raoul’s office filed against it and six staffing agencies in 2022. The settlement with Vee Pak means that litigation is now fully resolved, with the office recovering a total of $2.52 million from all defendants. In 2022, Raoul’s office…
MS Amlin, the Lloyd’s re/insurer, has launched a consortium to boost property treaty capacity for all property per-risk lines. This additional capacity is expected to be particularly relevant for global data centers, where demand for higher limits continues to grow, MS Amlin said. The Property Treaty Per Risk (PPR) Consortium expands MS Amlin’s maximum line size from $50 million to $67.5 million, providing a 35% uplift in capacity for placements while maintaining a single coordinated underwriting and claims process. The consortium brings together four Lloyd’s syndicates behind MS Amlin including Nephila Syndicate 2358, Nephila Syndicate 2359, Hampden Syndicate 2689 and…
The findings suggest hospital at home could serve as a safe alternative to inpatient care, researchers wrote. However, adoption is uneven, with most programs located in urban areas.
The Ohio State Bar Association (Ohio Bar) and ALPS Insurance (ALPS) today announced that they have entered into a definitive agreement under which ALPS will acquire the Ohio Bar Liability Insurance Company (OBLIC), a leading provider of professional liability insurance for attorneys in Ohio. The transaction reflects a shared commitment to strengthening the long-term delivery of legal malpractice insurance to Ohio lawyers by aligning OBLIC’s strong reputation and history of lawyer-focused service with ALPS’ national scale, infrastructure and specialized expertise serving lawyers. OBLIC was founded by the Ohio Bar in 1978 to serve the professional liability needs of Ohio attorneys…
New York State has a 2026-2027 budget agreement. The budget totals about $268 billion and includes some but not all of Gov. Kathy Hochul’s proposals for auto insurance reform to lower premiums along with some lawmakers’ proposals for consumer protections. The budget was supposed to be ready by April 1. But state lawmakers passed nine deadline extensions to keep the government functioning until they and the governor could come to an agreement. According to Hochul’s summary, the budget does not raise income or statewide business taxes and it maintains the governor’s powers to make future adjustments if actions by the…
Newswise — Adolescents in California consistently perceive cannabis as less harmful than other commonly used substances, according to a new study analyzing data from two large statewide school surveys. Shu-Hong Zhu, PhD, professor at the UC San Diego Herbert Wertheim School of Public Health and Human Longevity Science and co-authors, examined how teens view the risks of everyday and occasional use of cannabis compared to alcohol, nicotine vapes and cigarettes, drawing on responses from more than 175,000 students across surveys conducted in 2019–2020 and 2024. The findings show a clear and persistent pattern: Cannabis is viewed as the least harmful…
The insurance-linked securities (ILS) market is in a strong position with record levels of catastrophe bond issuance and growing interest in private ILS and casualty risks, while transparency and price efficiency remain key to attracting investors old and new, according to industry experts.In April, Artemis held its seventh Bermuda ILS Executive Roundtable in Hamilton, in partnership with international law firm Appleby and Moody’s Analytics, a global provider of data, intelligence and analytical tools, during which seven leaders and experts from across the space discussed a range of market trends. As readers of Artemis will be aware, 2025 was a record-breaking…
In the latest Executive Insights edition of Insurance Business TV, we catch up with Dawn Walker, of AM Best. She looks at the capabilities needed to ensure success in the program space, and how frameworks should be adapted for long-term profitability.
Next time you go to the pharmacy, you might be offered a coupon on your prescription drugs. While it may sound like a great deal — with the prospect of saving hundreds of dollars — the decision to accept it is complicated, especially for people with insurance. Even as prescription drug costs rise, patients with commercial insurance have slowed their use of manufacturer-sponsored drug coupons in recent years, according to a study published April 6 by the Journal of the American Medical Association. Manufacturers are offering just as many of them, “but still, we see a lot of affordability issues…
Evolving threats and inconsistent policy language are exposing critical weaknesses in cyber insurance
Just before midnight, two men in white coveralls and black gloves scale an electric fence at a solar farm in Chile’s Atacama Desert, then slip soundlessly into rows of sleek panels. Others use a poultry shear and electric angle grinder to breach the main gate. Three pickups without license plates pull in so the gang can load up their loot and race away. The thieves typically have less than an hour before police arrive to disable cameras, slice cables and extract dozens of panels before vanishing into the dunes. In this case, there was only one security guard, who was…