Trucordia buys tri-lingual Massachusetts brokerage
Trucordia said Wednesday it has acquired Breezy Seguros, a brokerage based in Framingham, Massachusetts.
Lloyd’s wins ruling on cyberattack expenses claim
Insurers at Lloyd’s of London don’t have to pay more than $1 million in payroll overpayments a company made after its operations were disrupted during a ransomware attack, an appeals court ruled.
Mapfre Re sponsors three-year cat bond
Mapfre Re on Wednesday said it has sponsored a new three-year catastrophe bond through the Irish-based special purpose vehicle Recoletos Re DAC.
NY high court finds PTSD claims for COVID exposure not compensable
New York’s highest court said the State Workers’ Compensation Board was not required to consider the prevalence of COVID-19 in the workplace when it rejected pandemic-related stress claims.
Big-time burnout bringing down business
Fifty-five percent of us are worn out at work.
Lowe’s to pay fine to settle US accusations regarding lead paint
Lowe’s will pay a $12.5 million civil fine to resolve U.S. government accusations that contractors hired by the home improvement retailer did not take appropriate safety precautions when renovating homes containing lead paint.
Allianz to open Latin America, Caribbean reinsurance hub
Germany-based Allianz Commercial plans to open a Miami-based hub in February 2026 to serve the Latin American and Caribbean reinsurance sector, Reinsurance News reported. The new office will reinforce its operations in Brazil, Mexico, Argentina and Colombia, and expand its facultative reinsurance offerings into Chile, Peru, Ecuador and Panama.
Allianz to open Latin America, Caribbean reinsurance hub
Germany-based Allianz Commercial plans to open a Miami-based hub in February 2026 to serve the Latin American and Caribbean reinsurance sector, Reinsurance News reported. The new office will reinforce its operations in Brazil, Mexico, Argentina and Colombia, and expand its facultative reinsurance offerings into Chile, Peru, Ecuador and Panama.
Cat bond issuances hit new record
The settlement of two new catastrophe bonds pushed global cat bond issuances to a new annual record of $20 billion this year, with more to come in the next month, Artemis reported. The California Earthquake Authority recently closed a $770 million deal and Spain’s Mapfre SA closed a 125 million euro ($144 million) transaction and […]
U.K. P&I Club, TT Club explore merger
The U.K.’s P&I Club and TT Club are in early discussions over a potential merger between the two mutual shipping insurers, American Journal of Transportation reported. The combined entity would bring together complementary maritime and transport services to members, with talks expected to continue in the coming months.
Beazley to build $500M Bermuda platform
U.K.-based Beazley plc will invest $500 million to build a new Bermuda platform after it posted $4.7 billion in written premiums for the first nine months of 2025, up from $4.6 billion a year earlier, Reinsurance News reported. The company has formed Beazley Bermuda Holdings Ltd., Beazley Bermuda Insurance Ltd. and Beazley Bermuda Services Ltd.
Insurance catastrophe declared after storms
The Insurance Council of Australia has declared an insurance catastrophe after strong winds and hail hit South East Queensland on Nov. 23 and 24, Artemis reported. Insurers have received more than 16,000 claims so far, while Australian publication Nine.com.au said nearly 75,000 homes and businesses remain without power.
FAA probes Amazon after drone snaps internet cable in Texas
The U.S. Federal Aviation Administration (FAA) said on Tuesday it is probing Amazon after one of its delivery drones downed an internet cable in central Texas last week.
Severe floods cause widespread damage
Heavy rainfall has caused severe flooding across Southeast Asia, leading to more than 13 trillion Vietnamese dong ($493 million) in damage in central Vietnam, cancellations of flights from Malaysia to Thailand and swamped oil-producing areas in southern Thailand, The Straits Times reports, citing Bloomberg. Wetter-than-average conditions are expected to persist into next week across affected […]
Ship looting may lead to major insurance losses
Millions of dollars in insurance claims are likely to be triggered after a barge owned by U.S. based Trailer Bridge Inc. saw most of its cargo looted after running aground Nov. 11 in the Bahamas, Khaborwala reported. Almost all of the 192 containers the vessel was carrying were looted at a value of $50,000 to […]
Strike to halt all departures at Brussels Airport
Belgium’s Brussels Airport has canceled all departures on Nov. 26 and warned of major disruptions to arriving flights and public transport due to a nationwide strike, Yahoo Finance reports, citing TheStreet. The shutdown affects more than 30 flights on carriers including Brussels Airlines, British Airways, easyJet and Ryanair. Brussels South Charleroi Airport also said […]
New Zealand requires professional indemnity cover for architects
New Zealand will require professional indemnity cover for experts contributing to building design, Insurance News reported. The change follows a move to adopt proportionate liability, which Minister Chris Penk says will ensure parties are responsible only for their own work.
Allianz to cut up to 1,800 jobs due to AI advances, says source
German insurance group Allianz plans to cut up to 1,800 jobs in its travel insurance division, mainly in call centers, as artificial intelligence increasingly replaces manual processes, a source familiar with the plans told Reuters on Wednesday.