Patricia Wells

The National Oceanic and Atmospheric Administration (NOAA) recently announced a significant change that could impact the insurance industry. The agency will stop updating its database of climate and weather disasters that have caused at least $1 billion in damage, effective after the year 2024. This decision has raised concerns among insurers who rely on this … Read more

A severe weather outbreak has struck the central United States, causing significant destruction and loss of life. Preliminary estimates from AccuWeather suggest that damages and economic losses could reach between $9 billion and $11 billion. Since May 16, more than 70 tornadoes have been reported, leading to at least 28 fatalities across the affected areas. … Read more

Ryan Specialty, a specialty insurance firm based in Chicago, has announced its acquisition of 360° Underwriting, a managing general underwriter focused on commercial construction. This deal marks an important step for Ryan Specialty as it expands its reach into the Irish market. 360, which operates from Dublin and Galway, will now join the Ryan Specialty … Read more

The U.S. Senate is set to take action this week to prevent California from enforcing stricter vehicle emissions standards. These standards include a groundbreaking plan to phase out the sale of new gas-powered cars by 2035. Senate Majority Leader John Thune, a Republican from South Dakota, announced that the Senate will consider three resolutions passed … Read more

A major cyberattack has hit Marks & Spencer (M&S), one of the UK’s most recognized retailers, leaving the company struggling to restore its online shopping services. This attack, which occurred about a month ago, has already cost M&S over £60 million (around $80 million) in lost profits, and its stock market value has dropped by … Read more

A historic mansion in Louisiana was severely damaged by a fire on Thursday, leaving much of the structure in ruins. The Nottoway Plantation House, built in 1859, was located along the Mississippi River, about 65 miles northwest of New Orleans. This grand estate was a popular resort and event venue, known as the largest remaining … Read more

Walmart Inc. surprised many civil rights activists in November when it announced a shift in its diversity, equity, and inclusion (DEI) efforts. The retail giant revealed plans to stop using the term "DEI" in its communications, remove certain LGBTQ products from its website, and change its approach to supplier contracts by no longer considering race … Read more

A tragic accident occurred when the Mexican navy tall ship Cuauhtemoc collided with the Brooklyn Bridge, resulting in the deaths of two sailors and injuries to 19 others. The incident happened on Saturday evening at around 8:20 p.m. as the ship was departing New York City as part of a goodwill tour. The Cuauhtemoc, a … Read more

Those fighting against cybercrime and those providing insurance for it are in a constant race to keep up with new technologies and tactics used by cybercriminals. The landscape is always changing, and staying ahead is crucial. According to a recent report by Guy Carpenter, the cyber insurance market saw significant increases in rates during 2021 … Read more

A new task force has been created in California to set standards for insurance coverage and clean-up of homes damaged by smoke. California Insurance Commissioner Ricardo Lara announced this initiative to ensure that homeowners receive fair treatment when dealing with smoke damage claims. The Smoke Claims & Remediation Task Force will operate under the California … Read more