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In a room outside the Maryland State Senate chamber last winter, consumer advocates were meeting privately with lawmakers to explain how borrowers were losing their homes over “zombie” loans, old second mortgages that they hadn’t heard from lenders about in …

From Alabama to North Carolina, tornadoes and probable tornadoes ripped a roof off a warehouse, damaged homes and left many without power across the Southeast. News sites reported that a confirmed tornado, with winds of 85 mph, struck an air-conditioning …

A Crofton, Maryland woman has pleaded guilty in two separate felony theft schemes, according to Attorney General Anthony G. Brown. On Monday in Anne Arundel County Circuit Court, Carolyn Rae Aldridge admitted to stealing a combined total of $185,296.28 during …

The head of the International Maritime Organization has said that naval escorts through the Strait of Hormuz will not “100 percent guarantee” the safety of ships attempting to transit the waterway, the Financial Times reported on Tuesday. Military assistance was …

The outbreak of hostilities in the Middle East and surging energy costs are expected to exacerbate soaring levels of financial distress among European corporates, according to Alvarez & Marsal Inc. Even before the US and Israel began their attacks on …

A Pakistani tanker earlier this week became the latest vessel to sail out through the Strait of Hormuz by hewing closely to the Iranian coast, suggesting an approved route that points to Tehran’s tightening grip on the narrow waterway — …

Chicago’s real estate industry has ignited a battle over a $19 billion tax bill that property owners say is holding back new construction and contributing to surging rents. Donors have poured $1.4 million in the past six months into the …

Insuring vessels to sail through the Strait of Hormuz is still possible, even if at a very high cost, according to people involved in the market. The cost of coverage has leaped to about 5% of the value of a …

Amazon.com’s drone unit Prime Air is withdrawing from the Commercial Drone Alliance, taking issue with the industry trade group’s opposition to a regulatory proposal for detect-and-avoid systems to prevent drone collisions with crewed aircraft. In a previously unreported letter seen …

Pro-Iranian hackers are targeting sites in the Middle East and starting to stretch into the United States during the war, raising the risk of American defense contractors, power stations and water plants being swept into a wave of digital chaos …

HW Kaufman Group Names Hattaway President of RB Jones RB Jones, a managing general underwriter providing specialty risk coverage solutions for brokers, agents and wholesalers, named Michael Hattaway as president. He will be based in New York City and report …

Investment in AI infrastructure via off-balance sheet debt is increasing the exposure of insurers and private credit funds to hyperscalers, according to officials at the Bank for International Settlements. “Alongside traditional bonds, hyperscalers have turned to off‑balance sheet arrangements to …

Amid the last-minute scramble to move legislation before the non-budgetary session was set to end last week, Florida lawmakers quietly approved a bill that could open up more contaminated “brownfield” areas in south Florida to housing development. But the bill, …

AM Best reports it has revised the outlooks to stable from negative and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of Amica Mutual Insurance Co. and its …

The city of New Haven’s insurance company is insisting that the city pay back the $3.55 million the insurer paid to settle claims over a 2019 rooming house fire in which two people were killed. Pennsylvania Manufacturers Association Insurance Co. …

After years of litigation, PDX North, Inc., a last-mile automotive parts distribution company, has agreed to pay up to $7 million to resolve worker misclassification violations involving its delivery drivers, announced New Jersey officials. The settlement brings to a close …

Owners of one of the biggest towing businesses in Southern California were arrested on multiple counts of felony insurance fraud. Bothers Mark Hassan and Ahmed Hassan were charged with underreporting employee payroll and paying parts of employees’ wages in cash …

Bank of America Corp. has agreed to settle a proposed class action lawsuit on behalf of Jeffrey Epstein victims who accused the bank of aiding in the deceased financier’s sex-trafficking, according to a court record. The agreement in principle was …

As another wildfire season looms, insurance companies have abandoned some California neighborhoods at lower risk of burning, forcing tens of thousands of homeowners to obtain bare-bones coverage from the state’s insurer of last resort. California intended the insurer, called the …

Farmers Insurance alleges in a lawsuit that a former agent in Oklahoma conspired to move Farmers’ insureds to other insurance companies, including an agency where his wife works. Farmers alleges that Bradley McKinney broke his Agent Appointment Agreement with Farmers …