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Market/Coverages: Willis Launches $200M Cargo Facility for Rising Geopolitical Risks
Willis, a WTW business, has launched ‘Undercover,’ a new $200 million facility, combining coverage for a range of geopolitical exposures faced by cargo owners worldwide. Developed by Willis in a joint proposition with specialist insurer, Markel, Undercover offers a unique …
POSTED JULY 08, 2025 12:33 PM |
India’s Kerala State Seeks $1.1 Billion in Compensation From MSC Over Oil Spill
India’s southern state of Kerala has sued Swiss-based Mediterranean Shipping Company and sought $1.1 billion in compensation after one of its container vessels sank and leaked fuel into the Arabian Sea in May. The high court in Kerala issued an …
POSTED JULY 08, 2025 12:04 PM |
Mexico Criminals Rob Truck Full of Gold, Silver Concentrate
Armed thieves robbed a truck carrying 33 tons of gold and silver concentrate belonging to Grupo Minero Bacis, costing the company millions of dollars in losses. Assailants blocked the semi-truck with two white-colored vehicles, assaulted the driver and the accompanying …
POSTED JULY 08, 2025 11:52 AM |
Florida Reinsurance Buyers Found Ample Property Capacity at Mid-Year Renewals
Reinsurers have gained confidence and returned to the Florida market as a result of recent legislative reforms that have transformed the state’s risk landscape, according to brokers Aon and Gallagher Re in their mid-year renewal reports. “Florida entered the mid-year …
POSTED JULY 08, 2025 8:28 AM |
Apple Takes Fight Against $587 Million EU Antitrust Fine to Court
Apple took a challenge against EU regulators to Europe’s second highest court on Monday after they fined it 500 million euros ($587 million) earlier this year for breaching landmark rules aimed at curbing the power of Big Tech. The European …
POSTED JULY 08, 2025 7:31 AM |
Ram Pickup Recalls Investigated After Seven Injuries Reported
US auto safety regulators are investigating whether earlier recalls of more than a million Ram pickups did enough to address a flaw that could lead to trucks rolling away unexpectedly. The US National Highway Traffic Safety Administration received 20 reports …
POSTED JULY 08, 2025 5:29 AM |
Update: Commercial Ship Under Continuous Houthi Attack in Red Sea
Yemen’s Houthi militants continued to pound a commercial ship in the Red Sea — hours after beginning an assault on the vessel that left crew missing — the latest sign that the Tehran-backed group is once again escalating its threat …
POSTED JULY 08, 2025 5:26 AM |
Deadliest Flooding in Last 25 Years Came in Areas With Low Flood Insurance Take-Up
Flooding has caused an average of more than 125 deaths per year and billions of dollars in damage in the United States over the past few decades, according to the National Weather Service. Flash floods are the nation’s top storm-related …
POSTED JULY 08, 2025 5:02 AM |
Kentucky Auto Insurers Must Use Blue Book or J.D. Power on Vehicle Values, DOI Says
Auto insurers in Kentucky now have some official guidance and liability protection when determining the value of wrecked vehicles. In keeping with Senate Bill 136, approved on an emergency basis by state lawmakers this year, the Kentucky insurance commissioner last …
POSTED JULY 08, 2025 5:02 AM |
US Warns of Blackout Risk From Killing Coal as Trump Snubs Renewables
Blackouts in the US could double by 2030 amid an expected increase in power demand brought on by AI, according to a Trump administration report seen as a precursor to a broader intervention to help keep coal-fired power plants from …
POSTED JULY 08, 2025 5:02 AM |
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