From global banks to alternative fund managers, more senior financiers are joining a growing chorus warning of cracks in private credit. TCW Group Inc.’s Chief Executive Officer Katie Koch told a forum in Hong Kong on Wednesday that she’s “very nervous” about parts of private credit. Tony Yoseloff, chief investment officer of Davidson Kempner Capital … Read more
The US Food and Drug Administration’s lead drug regulator George Tidmarsh resigned two days after being placed on administrative leave over personal conduct concerns, according to the US Department of Health and Human Services. The resignation comes the same day Tidmarsh was sued for defamation by Aurinia Pharmaceuticals Inc., which accused him of harboring “a … Read more
The Georgia Court of Appeals this week handed down multiple decisions, three of which could indirectly affect property and liability insurance coverage in the state for years to come. In a case over a deliberately set Atlanta apartment complex fire that killed a man and left 30 residents without a home, a jury in January … Read more
The Louisiana State Bar Association (LSBA) has selected Old Republic Lawyers Specialty Insurance (ORLSI) as its endorsed lawyer’s malpractice insurance provider. Through its partnership with ORLSI, the LSBA Insurance Program now offers enhanced policy coverages and better program perks. These benefits include: a claims-free deductible opportunity, additional deductible discount opportunities, standalone cyber liability policy premium … Read more
Third quarter 2025 underwriting income in American International Group’s (AIG) General Insurance segment increased 81% compared with last year, to $793 million. The unit—North America commercial, International commercial, and global personal—recorded $100 million in catastrophe-related charges in Q3 2025, compared with $417 million for Q3 2024. Net written premiums were down 2% to about $6.4 … Read more
Afore Insurance Services, LLC announced its acquisition of Salzberg Insurance Agency in Norfolk, Virginia, a firm with an 87-year history of serving the Hampton Roads business community. Terms were not disclosed. Under the agreement, Salzberg will operate as part of Afore’s Mid-Atlantic region. The leadership including Ralph Soussan, principal, and staff will continue to serve … Read more
Trinity Couriers Inc., a courier service based in San Antonio, pled guilty to fraudulently obtaining workers’ compensation insurance coverage, the Texas Department of Insurance announced. The company agreed to pay $800,000 in restitution to their insurance carrier, Texas Mutual Insurance Company. Fraud investigators with the Texas Department of Insurance, Division of Workers’ Compensation (DWC) confirmed … Read more
The North Carolina Rate Bureau is asking for 28.5% and 31% average rate increases for dwelling policies over the next two years, numbers that will likely be reduced after negotiations with the state insurance commissioner. The Rate Bureau, representing insurance carriers in the state, has recommended hefty rate increases over the last few years in … Read more
Spend enough time along the shores of Lake Superior and it won’t be long before there’s some reminder of what happened “when the gales of November came early.” This year marks the 50th anniversary of the wreck of the Edmund Fitzgerald, the largest and most famous of the estimated 6,500 ships that have gone down … Read more
Encova Insurance, headquartered in Columbus, Ohio, named Zach Webber as vice president, corporate actuarial, and Boppana Rao as vice president, enterprise digitization, AI and data. Webber has nearly two decades of actuarial experience across both commercial and personal lines, with a strong foundation in reserving and pricing. His career includes roles at the Ohio Bureau … Read more