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World Bank Prices $200 Million Catastrophe Bond for Jamaica
The World Bank has priced a new catastrophe bond designed to help Jamaica cope with the threat of hurricanes. The $200 million bond was oversubscribed by investors, the World Bank said in a statement. The deal comes less than a …
POSTED MAY 19, 2026 11:40 AM |
Starr Europe Insurance Opens Office in Hamburg, Germany
Starr, the New York City based insurance group, announced the opening of a new office in Hamburg, marking the further expansion of Starr’s presence in Germany and representing an important milestone in the company’s European growth strategy. The new office …
POSTED MAY 19, 2026 11:28 AM |
Pollution From Coal Is Hurting Global Solar Output, Study Finds
Pollution from coal-fired power plants that can block sunlight is significantly cutting global solar output, and potentially causing an overestimation of climate progress, according to a new study. Aerosols — tiny particles released from the burning of fossil fuels as …
POSTED MAY 19, 2026 10:42 AM |
Few Foreign Ships Seen in Hormuz Amid Reports of Iran’s Insurance Plan
The Strait of Hormuz remains effectively closed to commercial shipping, with maritime traffic reduced to a trickle and dominated by Iranian-linked vessels. There were few notable foreign-affiliated movements amid reports of Iran’s Bitcoin-backed insurance program for shipping companies willing to …
POSTED MAY 19, 2026 10:18 AM |
StanChart to Cut Over 7,000 Jobs, Boost AI to Replace ‘Lower-Value Human Capital’
Standard Chartered will eliminate more than 7,000 jobs over the next four years as it seeks to replace “lower-value human capital” with technology, becoming one of the top names in finance to target headcount cuts using artificial intelligence. The London-headquartered …
POSTED MAY 19, 2026 9:14 AM |
IICF Names Lowery-Biggers CEO
The Insurance Industry Charitable Foundation (IICF) announced the appointment of LoriAnn V. Lowery-Biggers as CEO. Lowery-Biggers brings more than 30 years of experience to the role, having previously served as president of Lloyd’s North America along with executive leadership positions …
POSTED MAY 19, 2026 5:16 AM |
Tech, Modeling Prove Value-Add to Broker-Client Relationships: McGill’s Karg
Due to the rapid evolution of artificial intelligence, data, and analytics, brokers are gaining the ability to treat the risk of each client separately, said Ashley Karg of McGill and Partners. “There’s more opportunity for brokers to embrace individualizing our …
POSTED MAY 19, 2026 5:14 AM |
Jury Trial is There if Corporations Need it, Appeals Court Finds in WV Opioid Case
Corporations facing high-profile negligence lawsuits have been known to request a bench trial—held before a judge only and without the risks of plaintiffs’ lawyers playing on the emotions of a 12-person jury. But in West Virginia, the pharmacy benefits manager …
POSTED MAY 19, 2026 5:02 AM |
Progressive Is Biggest Auto Insurer, Surpassing State Farm, Says S&P GMI
The numbers aren’t all in, but it looks like Progressive is now the biggest private passenger auto insurer, based on an analysis from S&P Global Market Intelligence that shows Progressive muscling past State Farm. S&P GMI estimates Progressive’s U.S. private …
POSTED MAY 19, 2026 5:01 AM |
Washington Commissioner Issued $167K in Fines in 2Q
A Yakima insurance agent and an unauthorized insurance company are barred from doing business in Washington after Insurance Commissioner Patty Kuderer issued cease-and-desist orders in April. Those were two enforcement actions during the first quarter in which Kuderer issued fines …
POSTED MAY 19, 2026 5:00 AM |
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