Black Sea rates rise after Ukraine attacks tankers: sources
The cost of shipping commodities through the Black Sea climbed on Monday after Ukrainian naval drones hit two tankers heading to a Russian port, with fears of further attacks driving up war risk insurance costs, industry sources said.
MMA buys three Hawaii brokerages
Marsh McLennan Agency, the small and mid-sized brokerage unit of Marsh, announced Monday it acquired three Hawaii-based brokerages from Tradewind Group, an investment company based in Honolulu.
Axis Capital hires for new role
Axis Capital said Monday it named former Liberty Specialty Markets executive Lewis Edwards to the newly created role of head of delegated strategy, global markets.
Coalition hires ex-Nubank exec as chief product officer
Cyber insurer Coalition on Monday named former Nubank executive Frank Fumarola as the company’s new chief product officer.
Jamaica secures $6.7 billion from agencies for post-Melissa rebuild
Jamaica has secured up to $6.7 billion in support from international agencies to fund reconstruction over the next three years in the wake of Hurricane Melissa.
NY high court affirms benchmark for COVID-19 infections coverage
New York’s top court on Wednesday endorsed a method for workers to prove “extraordinary” COVID-19 exposure through frequent contact with the public or co-workers in areas where the virus is prevalent.
Keystone names former NFP commercial leader as president
Keystone Agency Partners on Monday named former NFP commercial insurance leader Mike Walsh as president.
Washington announces 4.9% average comp rate increase for 2026
Washington state workers compensation premiums will increase by an average of 4.9% next year, the state’s Department of Labor and Industries said.
Insurers see costliest storm season to date
Severe storms and hail across Australia have generated 44,600 insurance claims so far, set to be the costliest of the current financial year, Artemis reported. While claims are still rising after a catastrophe declaration was extended through Nov. 27, Suncorp Group Ltd. has already used up as much as 1.3 billion Australian dollars ($852 million) […]
Overseas expansion lifts Singapore’s insurers
Singapore’s non-life insurance sector continued to grow over the past year as foreign business expanded and brokers increasingly placed regional risks in the market, according to A.M. Best, Insurance Asia reported. However, competition from global carriers is pressuring margins and domestic insurers face earnings volatility from overseas catastrophe exposures.
Rare tropical storm causes mass destruction
Large-scale devastation swept across parts of Malaysia, Indonesia and Thailand after a rare tropical storm in the Straits of Malacca fueled a week of torrential rain, Free Malaysia Today reports, citing Reuters. Floods and landslides have killed more than 500 people and affected over 4 million residents throughout the region.
Airbus glitch halts hundreds of flights across the globe
Airlines worldwide scrambled to fix a software glitch on Airbus A320 jets after regulators ordered immediate repairs, which halted hundreds of flights, DZRH reports, citing Reuters. Airbus CEO Guillaume Faury apologized for the disruption as the recall affected more than half of the 11,300 A320-family fleet operating at major low-cost carriers.
Experts seek return of terrorism cover in commercial policies
Only 5% of small and medium-sized businesses in the U.K. carry terrorism insurance, a shortfall that has prompted industry experts to call for terrorism cover to be reinstated as a standard feature of commercial property policies, according to Pool Re, Reinsurance News reported. CEO Tom Clementi said insurers could qualify for reinsurance discounts if they […]
Korean Re to open new branch in India
Korean Reinsurance Company said it has received regulatory approval to open a new branch in Gujarat International Finance Tech-City in India, Asia Insurance Review. The reinsurance firm’s operations are scheduled to begin in April 2026.
Australian insurers report stronger profits
Australian general insurers posted a profit after tax of nearly 2.3 billion Australian dollars ($1.5 billion) for the September quarter, up from about AUD2.1 billion in the same period in 2024, according to the Australian Prudential Regulation Authority, Insurance News reported. The net combined operating ratio improved to 82% from 85%, while total insurance revenue […]
Lloyd’s approves Ariel Re syndicate
Lloyd’s has approved the creation and management of Ariel Re Syndicate 2006, Reinsurance News reported. The new syndicate will build on Bermuda-based Ariel Reinsurance Company Ltd.’s specialty products such as marine, energy, cyber, transition and renewables.
Shadow-fleet tankers catch fire off Turkish coast
Two sanctioned oil tankers linked to the Russian shadow fleet caught fire in the Black Sea off the Turkish coast, Hellenic Shipping News reports, citing Euronews. The Gambia-flagged Kairos exploded following a suspected external impact, while the Virat was “struck” shortly afterward in a separate incident.
34 million customers’ files exposed in major breach
South Korea’s biggest online retailer, Coupang Inc., said personal data for 33.7 million customers – nearly its entire user base – was compromised in a breach that exposed names, phone numbers, e-mail addresses and delivery addresses, Nasdaq reports, citing RTTNews. The company said unauthorized access to delivery-related information started June 24 via overseas servers and […]
Albanian insurers report 10% rise in premiums
Albanian insurers’ gross written premiums rose 10% year on year to 22.4 billion Albanian leks ($268 million) in the first ten months of 2025, the Albanian Financial Supervisory Authority said, SeeNews reported. Non-life insurance made up 91% of the total premiums.
Employee shot while leaving work not covered under GL: Court
More than $1.1 million owed to a grocery store worker after he was shot outside his workplace following his shift is not covered under his employer’s general liability policy, a federal appeals court ruled, reversing a lower court.