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Treasury Secretary Scott Bessent said a US insurance program meant to boost shipping through the Strait of Hormuz will begin soon, a move that may help revive flows of much of the world’s oil and gas supplies. Bessent’s predictions, delivered …

The war in Iran is exposing the world’s reliance on fragile fossil fuel routes, lending urgency to calls for hastening the shift to renewable energy. Fighting has all but halted oil exports through the Strait of Hormuz, the narrow waterway …

Ex-hedge fund boss Crispin Odey cornered a female receptionist after an alcohol-fueled lunch and told her “I could attack you now,” according to a diary entry by the staffer revealed at a London court on Tuesday. When she verbally resisted …

A property insurer is on solid ground in applying depreciation to actual cash value, as long as the policy makes that plan clear, a federal appeals court said in shooting down a proposed class-action lawsuit against Cincinnati Casualty Co. The …

An anti-vaccine group aligned with U.S. Health Secretary Robert F. Kennedy Jr. is petitioning him to vastly broaden a federal list to include more than 300 injuries it says are linked to immunizations, and has threatened to sue if he …

Coastal-focused homeowners and flood insurance broker ShoreOne Insurance Managers, Inc. has been acquired by Totalis Program Underwriters, a New York specialty insurance platform that is part of NFP, an Aon company. Terms of the deal were not disclosed. However, BrightShore …

The NCAA filed a complaint in federal court last week seeking an emergency restraining order to stop online sportsbook DraftKings from using registered trademarks associated with the NCAA men’s and women’s basketball tournaments. The complaint for trademark infringement was filed …

Melody Gray joined Alliant Insurance Services as vice president within its employee benefits group. Gray is based in Portland, Oregon, and will design and deliver a range of employee benefits solutions to a client base throughout the Pacific Northwest and …

RT Specialty’s Hamilton, New Jersey office, which is part of RT Specialty’s Environmental and Construction Professional (RT ECP) Practice, promoted four team members to new roles. Zack Kalet is advancing to consultant. Kalet joined RT ECP in April 2022 as …

A married couple from New Bedford, Massachusetts pleaded guilty yesterday in federal court in Boston to a scheme to defraud insurance clients through their business, BL Insurance Brokerage, LLC. According to U.S. Attorney Leah B. Foley, Brendan and Lisa Lawler …

The Supreme Court of Maryland has thrown out climate change lawsuits filed by Baltimore, Annapolis and Anne Arundel County against 26 fossil fuel companies, finding that the Clean Air Act along with U.S. Supreme Court rulings make it clear that …

Law enforcement officials on Tuesday said they are taking steps to monitor and counter threats to Jewish and Muslim communities nationwide since the onset of war in the Middle East, multiple hate crimes and an attempted terror attack prompted increased …

This edition of International People Moves details appointments at Everest Group and AXA XL. A summary of these new hires follows here. Everest Appoints Busti From AXIS as Head of North America Treaty Reinsurance Everest Group Ltd., the Bermuda-based specialty …

A Michigan woman pled guilty to organizing a high-volume theft ring targeting Ulta Beauty stores in Wayne, Oakland, and Macomb counties, announced Michigan Attorney General Dana Nessel. Cheaira Broughton, 38, of Detroit, was charged by the Department of Attorney General …

A Texas State Fire Marshal’s Office (SFMO) investigation helped lead to a lifetime prison sentence for a Panhandle man who set a house fire to cover up the murder of a 4-year-old girl. Humberto Martinez pleaded guilty to capital murder …

AM Besthas revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” (Excellent) for the following pooled members of Western Reserve Group: Western Reserve Mutual Casualty …

Risk Theory, a Dallas, Texas-based platform of insurance distribution businesses, announced the launch of Dealer Transit, a new logistics solution designed to help dealerships mitigate the growing risk of vehicle theft during transit. The program is backed by Risk Point, …

The Society of Actuaries (SOA), the world’s largest actuarial professional organization, named Clar Rosso as the new CEO, effective May 4. Rosso assumes the role from Greg Heidrich, who is retiring after serving as CEO since 2007. Rosso recently served …

A federal judge dismissed a lawsuit on Wednesday accusing mutual fund giant Fidelity of cheating many investors in its $439.1 billion Fidelity Government Money Market Fund by keeping them in higher-cost share classes than they were eligible for. U.S. District …

Marsh Risk said it has secured comprehensive insurance coverage for TerraPower’s Kemmerer Unit 1 in Kemmerer, Wyoming, considered the nation’s first commercial-scale, advanced nuclear power plant approved for construction by the Nuclear Regulatory Commission. According to Marsh, the placement is …