“Workforce reductions may create budget room, but they do not create return”
Author: Awais
Howden announced it has acquired the intellectual property assets of Cybeta, LLC, a cyber data and analytics provider. Terms of the deal were not disclosed. Howden said the acquisition enables the brokerage to provide clients with faster, more precise insight into cyber risk, supporting better underwriting, placement, and claims outcomes. Cybeta was founded in 2019 by a team of data science experts with experience in the U.S. Department of Defense and intelligence communities. Former members of Cybeta’s team will join Howden, bringing deep expertise in proactive, expert-driven cyber threat intelligence and predictive analytics. The acquisition bolsters Howden’s U.S. cyber practice,…
Elon Musk agreed to pay $1.5 million to settle Securities and Exchange Commission allegations that he cheated Twitter shareholders in 2022 by failing to properly disclose his growing stake in the social media company. An Elon Musk revocable trust would pay the penalty to end the SEC’s lawsuit under the plan, which is still subject to court approval. Musk didn’t admit to the regulator’s allegations, according to a filing on Monday. It’s a much smaller penalty than what Musk’s attorney said the SEC initially sought. The agency in December 2024 asked Musk to pay more than $200 million to settle,…
In response to emergency appeals filed by Danco and GenBioPro, on May 4, 2026, Justice Alito issued a one-week administrative stay of the 5th Circuit’s decision in the Louisiana v. FDA case. The FDA 2023 dispensing policy allowing mifepristone to be mailed remains in place pending a decision from the Supreme Court. The Supreme Court is reviewing the 5th Circuit Court of Appeals order on May 1, 2026, which temporarily reinstated an in-person dispensing requirement for mifepristone nationwide. Medication abortion—most commonly a two-drug regimen of mifepristone and misoprostol—has become a central legal battleground in the years since Dobbs v. Jackson Women’s…
Pennsylvania has sued the artificial intelligence company behind Character.AI to stop its chatbot from posing as doctors. Governor Josh Shapiro on Tuesday called the lawsuit against Character Technologies the first of its kind by a U.S. governor. It followed the creation in February of a state AI task force to stop chatbots from impersonating licensed medical professionals. In a complaint filed in the Commonwealth Court of Pennsylvania, the state said it found chatbots on Character.AI that claimed to practice medicine. One character, “Emilie,” allegedly told a male investigator posing as a patient with depression that she was licensed to practice…
The White House is reviewing a proposal from the Securities and Exchange Commission to formally end Biden-era climate disclosure rules for publicly-traded companies. The regulator sent the measure to the White House’s Office of Management and Budget for review on May 4, according to a post on a government website. The old corporate disclosure regulations, issued under former SEC Chair Gary Gensler, had never been implemented amid a spate of legal challenges. The Trump administration had effectively set the rules aside a year ago when the regulator told a judge that it would no longer to defend the policy in…
Exceptionally warm waters and a developing El Niño will increase the risk of direct hurricane impacts in Hawaii, Southern California and parts of Mexico this year, according to an AccuWeather analysis out on Wednesday. The forecast shows the Eastern and Central Pacific basins are expected to produce above the historical average number of named storms, hurricanes and major hurricanes in 2026. Related: Worsening Ocean Heat Waves Are ‘Supercharging’ Hurricane Damage, Study Finds The 2026 Eastern Pacific hurricane season forecast calls for 17 to 22 named storms, nine to 13 hurricanes, four to eight major hurricanes and six to nine direct…
US primary insurer Allstate has returned to the catastrophe bond market with its typical May sponsorship of a cat bond to provide it with multi-peril Florida collateralized reinsurance protection, initially targeting a $200 million or greater Sanders Re III Ltd. (Series 2026-2) issuance, Artemis understands.This is Allstate’s second visit to the catastrophe bond market of 2026, having sponsored its largest ever single visit to the cat bond market in March when it secured $1.2 billion of nationwide (ex-Florida) reinsurance from two Sanders cat bond issuances. In recent years Allstate has tended to sponsor two or three catastrophe bonds, one of…
Ten people were hospitalized after a valve malfunction led to a chemical leak at a Louisiana business on Tuesday, May 5. The Louisiana State Police Emergency Services Unit responded to a hazardous materials incident in Duson at approximately 7 a.m. An initial investigation found a valve malfunction involving Boron Trifluoride resulted in the chemical leak at the facility. The name of the business hasn’t been released. Three first responders, six employees of the affected business and one employee business were transported to local hospitals for evaluation and treatment, the Louisiana State Police said. All reported injuries are believed to be…
Companies also want quicker financial returns from risk management efforts
U.S. President Donald Trump said on Tuesday he would briefly pause an operation to help escort ships through the Strait of Hormuz, citing “great progress” toward a comprehensive agreement with Iran. Hours earlier, U.S. Secretary of State Marco Rubio had outlined the effort that began on Monday to escort stranded tankers out of the Gulf. The strait has been virtually shut since the conflict began, blocking some 20% of world oil supplies and igniting a global energy crisis. “We have mutually agreed that, while the Blockade will remain in full force and effect, Project Freedom … will be paused for…
President Donald Trump’s administration moved Monday to block a lawsuit Minnesota officials filed almost six years ago alleging oil companies and a petroleum trade group deceived state residents about climate change. The U.S. Department of Justice, the administration’s law enforcement arm, filed an action in federal court in Minneapolis arguing that the federal government has the authority to regulate greenhouse gas emissions, not states, and that Minnesota officials are trying to improperly impose their policy preferences on the rest of the country. “The Constitution does not tolerate such a conflict,” Justice Department attorneys argued in the filing. “Nor does it…
Specialty insurance market rates declined in 2025 and during the January 1, 2026 renewals, with the pace of change exceeding expectations, according to WTW’s Specialty Insurance Marketplace Survey (SIMS). Data from the January 1 renewals and new business point to continued rate softening, with a 10-point decline in the insurance rate index, back to 2020 levels, WTW added. The findings also highlight the speed of recent market movements. An approximate 45% cumulative rate increase was achieved between 2017 and the market peak in 2023, with around half of that increase eroded over the past two years. “Substantial concerns relate to…
Key Takeaways About four in ten (41%) U.S. adults say they support the Make America Healthy Again (MAHA) movement – a group largely made up of Republicans and supporters of the Make America Great Again (MAGA) movement. Yet, many of the concerns elevated by the MAHA movement about food safety and corporate influence resonate with a larger share of the public beyond those who identify as supporters. Majorities of the public say there is not enough regulation of chemical additives in food (75%) or of pesticides used in agriculture (64%) in the U.S., and most adults express distrust in agricultural,…