As natural catastrophes become more frequent and destructive, a key backstop intended to help cover losses has gotten harder to access. The reinsurance industry, which exists to help primary insurers cope with losses when disaster hits, has taken significant steps …
New Texas Laws Ban Youth Cabins in Floodways, Require Camp Safety Plans
In the days and weeks following the death of his 9-year-old daughter, Lila, at Camp Mystic in the Texas Hill Country, Blake Bonner found himself wondering whether the tragedy was simply an unstoppable act of God, or if something could …
Two Marquette Men’s Lacrosse Players Killed in Car Wreck
Two members of the Marquette men’s lacrosse team were killed in a car wreck Friday night near the school’s campus in downtown Milwaukee. Marquette officials confirmed that Scott Michaud and Noah Snyder died in the crash. A Mass was held …
Global Reinsurers Meet Cost of Capital for Second Consecutive Year
Sound risk management, strategic use of technology and a maturing partnership with alternative capital have subdued the cyclical nature of the reinsurance market. To achieve or reach beyond the cost of capital, reinsurers must balance short-term opportunities with strategic long-term …
DOJ Drops Defense of Ban on Employee ‘Noncompete’ Agreements
President Donald Trump’s administration abandoned on Friday the U.S. government’s legal defense of a rule adopted under former President Joe Biden that had banned agreements commonly signed by workers not to join rivals of their employers or launch competing businesses. …
While One Suit Over Citizens’ DOAH Hearings Is Dropped, Drama Builds in Another
A federal judge agreed to dismiss a lawsuit brought by a 92-year-old Miami homeowner claiming that a state-run arbitration agency deprives policyholders of their constitutional rights when reviewing claims disputes against Citizens Property Insurance Corp. “The dismissal is effective immediately …
Anthropic Agrees to Pay $1.5 Billion to Settle Authors’ Copyright Class Action
Anthropic told a San Francisco federal judge on Friday that it has agreed to pay $1.5 billion to settle a class-action lawsuit from a group of authors who accused the artificial intelligence company of using their books to train its …
California Labor Commissioner Cites Los Angeles Restaurant $680K
The California Labor Commissioner’s Office cited J BBQ, a Koreatown restaurant, more than $680,000 for wage theft violations. A total of 48 workers were impacted by the violations, which included unpaid wages, denied breaks, and inaccurate wage statements, according to …
Public Speaks Out on How Pennsylvania Should Spend Opioid Settlement Funds
An attorney advocated for allowing opioid settlement money to be spent on public defenders. A prevention expert talked about effective strategies for deterring substance misuse in the first place, cautioning against one-time speakers at assemblies. Multiple family members who lost …
Economy and Surplus Lines
Global growth is slowing as U.S. tariff policy reduces trade and heightens geopolitical uncertainty. That will lead to decelerating growth in insurance premiums. According to Swiss Re, global GDP growth (adjusted for inflation) is expected to slow to 2.3% this …