Patricia Wells

The global private credit market is not facing any systemic risks at the moment, but there are signs of caution, a senior executive at Bain Capital has told Reuters. Jeffrey Hawkins, deputy managing partner for credit and special situations at Bain Capital, spoke about the current state of private credit after attending a financial summit … Read more

Theo Butt, the UK CEO of Convex Insurance, has been chosen to lead the International Underwriting Association (IUA) as its new chair. He will take over from Claire McDonald, CEO of SCOR Business Solutions, who is stepping down after serving a fixed two-year term. Butt, who has been on the IUA board since April 2023 … Read more

Bristol Myers Squibb has agreed to pay $239 million to settle claims from former Celgene shareholders who said they were misled about the future of two drugs: Otezla, used for psoriasis, and Zeposia, a treatment for multiple sclerosis. This settlement, announced Tuesday night in a federal court in Newark, New Jersey, still needs approval from … Read more

The government of Jamaica is set to receive a second payment of $21.1 million from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) in response to damages caused by Hurricane Melissa. This follows an earlier payout of $70.8 million linked to losses from wind and storm surge during the same storm. Together, these payments bring the … Read more

NFP has brought David Roberts on board as senior vice president for surety in its Northeast region. Based in New Jersey, Roberts comes with more than 30 years of experience in commercial risk management. He spent the last two decades leading Liberty Mutual’s largest surety office in New York City as a senior underwriting manager. … Read more

Boeing has won a major legal battle after a federal judge allowed the dismissal of a criminal case linked to two deadly crashes involving its 737 Max airplanes. The company will pay $1.1 billion as part of a settlement with the U.S. Justice Department, avoiding a criminal charge that stemmed from the tragedies. The crashes, … Read more

A jury in Newport News, Virginia has awarded $10 million to Abby Zwerner, a first-grade teacher who was shot by a six-year-old student in her classroom in January 2023. Zwerner had initially sought $40 million in damages, suing Ebony Parker, a former assistant principal at the school. Zwerner’s lawsuit claimed Parker failed to act after … Read more

Zurich Insurance Group is stepping up its game in the middle market and specialty insurance sectors with a big push to hire top underwriting talent this year. The company has already brought on board more than 100 new underwriters in the United States alone, spread across over 30 locations. They are also opening five new … Read more

A former South Carolina lawmaker and attorney is facing serious federal charges for allegedly cheating his clients out of money. Marvin Pendarvis, who represented the Charleston area, was indicted on Wednesday by a federal grand jury on 10 counts, including wire fraud, identity theft, and money laundering. Prosecutors say that between 2022 and 2024, Pendarvis … Read more

More than six years after a tragic Boeing 737 Max crash in Ethiopia that claimed the lives of all 157 people on board, the first civil trial connected to the disaster is now underway. The trial, taking place in Chicago, involves two remaining wrongful death lawsuits filed by the families of victims. Boeing has already … Read more