Revenue jumped 15% and EPS topped Wall Street, yet management is bracing for tighter margins through year-end
Author: Awais
New Hampshire Governor Kelly Ayotte recently signed into law an increase in the penalty for drivers who refused a breath alcohol test when stopped on suspicion of driving under the influence (DUI). Senate Bill 620 increases the administrative license suspension time from six to nine months for drivers who refuse DUI testing. Under current law, the suspension time for a driver convicted of a DUI is the same as a driver who refuses testing, which backers of the new law maintain creates a loophole incentive to not cooperate with law enforcement. The new law will take effect January 1, 2027.…
Introduction The Temporary Protected Status (TPS) program was established in 1990 and allows the Secretary of Homeland Security to designate a country for TPS if there is an ongoing armed conflict, environmental disaster, epidemic, or other conditions that may “temporarily prevent the country’s nationals from returning safely.” Eligible individuals from TPS designated countries can receive TPS, which protects them from deportation and allows them to work in the U.S. for temporary, extendable periods. The Trump administration has carried out numerous immigration policy changes focused on increasing immigration enforcement and reducing immigration into the country, including seeking to end TPS designations…
The Mena Insurance deal lands amid a broader run of geographic expansion for Inszone. In April, the firm entered the Pacific Northwest through Arnold & Smith Insurance Agency, Inc., a 55-year-old Washington-based agency with offices in Belfair and Shelton, adding a book spanning manufactured homes, waterfront properties and construction-focused commercial accounts.
Glass shards flew everywhere as Eric Gockel waited out one of the worst hailstorms to hit Missouri. One of the softball-size hunks of ice that hit the Springfield area on Tuesday measured 4.75 inches (12 centimeters). The hail killed an emu at the zoo, injured some drivers, knocked out power to thousands and damaged hundreds of vehicles and even some aircraft. “I feel blessed that I came out unscathed,” Gockel, whose windshield was battered as he waited in his car along the side of a highway for the storm to pass, said Wednesday. Severe spring weather is plaguing the South…
This edition of International People Moves details appointments at Howden Re and Zurich Insurance Group. A summary of these new hires follows here. Howden Re Expands Cyber Reinsurance Team With 5 New Hires Howden Re, the global reinsurance, capital markets and strategic advisory arm of insurance broker Howden, announced five new appointments to its cyber reinsurance team. The expansion reflects sustained growth in global client demand for Howden Re’s cyber capabilities, establishing a dedicated US cyber reinsurance resource to service a growing US client base. Michael Giuliano Michael Giuliano joins as director on the cyber reinsurance team. Based in New…
Hundreds of foreign doctors about to complete training in the U.S. will have to leave the country if the federal government doesn’t rapidly process their visa waiver applications, which have been languishing since the fall and winter, immigration attorneys say. Use Our Content It can be republished for free. The waiver program, run by the Department of Health and Human Services, allows physicians who aren’t U.S. citizens to stay in the country while transitioning from the visa they used during their training to temporary worker status. In exchange, the doctors agree to work in underserved areas for at least three…
Michigan Attorney General Dana Nessel has secured an agreement with Northeast Gravel Company and Boulder Creek Development Corporation to address PFAS contamination at their Belmont property. The Administrative Order on Consent (PDF) requires the companies to investigate the extent of PFAS contamination at the property, conduct necessary response activities, and take actions to protect residents whose drinking water has been impacted. Northeast Gravel Company previously operated a landfill at the Belmont site. In 2018, one of the cells at the landfill was found to be leaking PFAS, which was subsequently discovered to be contaminating groundwater used for drinking water by…
The Iran war is “supercharging” the world’s shift to renewable energy, as countries scramble to reduce their exposure to volatile oil and gas markets, the U.N. climate secretary said on Thursday. The U.S.-Israeli war with Iran has upended oil and gas supplies, prompting some countries to ration fuel and others to roll out subsidies and tax cuts to shield consumers from surging prices. Early signs indicate the war, which began two months ago, is speeding up some countries’ low-carbon transition. Demand for rooftop solar systems across Europe has surged, while countries including Pakistan have reported a jump in electric vehicle…
Marsh Risk, a business of insurance broker and risk advisor Marsh, announced that its Marsh Alpha directors and officers (D&O) insurance facility now offers unlimited claims on a single, unrelated basis as standard. Marsh Alpha, which provides protection for individual directors and officers not indemnified by their firm, is the first insurance solution of its kind to offer an “any one claim” benefit to all commercial clients globally. Launched in 2010, Marsh Alpha is Marsh Risk’s flagship “Side A” difference in conditions (DIC) coverage, which offers clients up to $150 million in insurance coverage for claims brought against directors and…
Arch Insurance EU announced the launch of its European property operations, alongside the opening of a new office in Milan writing accident & health, cargo & logistics, fine art & specie, general liability and property, effective immediately. This development marks a significant milestone in Arch’s ongoing expansion across Continental Europe, broadening its underwriting capabilities and strengthening its position as a multi-line, P/C insurer in the region. The new property capability will be delivered through underwriting hubs in France, Italy and Spain. With a broad risk appetite, the team provides insurance solutions across the full range of property occupancy types. This…
Net investment income, by contrast, fell 11% to $185 million, which AXIS attributed largely to lower cash returns following the loss portfolio transfer reinsurance deal struck with Enstar in the second quarter of last year. Fees from strategic capital partners rose to $23 million, from $16 million a year earlier, underscoring the group’s deepening third-party capital ties.
Palomar Insurance Holdings has now successfully priced its seventh catastrophe bond sponsorship, securing $410 million of capital markets backed California earthquake and Hawaii named storm reinsurance from its new Torrey Pines Re Ltd. (Series 2026-1) issuance, Artemis can report.Palomar has now sponsored new catastrophe bonds for six years in a row, as its debut cat bond in 2017 was four years prior to the second in 2021. The insurer began its cat bond journey in 2017 with a multi-peril issuance as its first Torrey Pines Re deal, after which the next five covered earthquake risks only, focused largely on California…
A few Iran-linked vessels are making their way through the Strait of Hormuz, as the crucial waterway remains effectively closed to most international shipping amid blockades by both Tehran and the US. Just a single Iran-linked fuel tanker was observed entering the Persian Gulf on Thursday morning, with no exits for the day recorded so far, according to vessel-tracking data compiled by Bloomberg. That follows just three outbound and two inbound transits of dry cargo ships on Wednesday, most of which have ties to Tehran. Brent crude futures earlier hit a four-year high amid the supply disruption. The US and…