Patricia Wells

In January, a U.S. Army Black Hawk helicopter collided midair with an American Airlines passenger jet near Washington, D.C., killing all 67 people on both aircraft. Experts told the National Transportation Safety Board (NTSB) that the helicopter pilots likely struggled to spot the jet because they were using night vision goggles, which made it hard … Read more

Workers at the Savannah River Site in South Carolina recently discovered a wasp nest that tested at radioactive levels ten times higher than federal safety limits. The site, which once played a key role in making parts for nuclear weapons, is now focused on cleaning up and producing nuclear fuel. Despite the high radiation found … Read more

Specialty Program Group, based in Chicago, has bought ANOVA Marine Insurance, a managing general agent and Lloyd’s coverholder located in Florida. ANOVA, which started in 2011, provides insurance for cargo, logistics, liability, and bonds. Their clients include shipping lines, trading companies, and freight forwarders around the world. ANOVA has offices in Miami and New Jersey, … Read more

The California Department of Insurance has finished reviewing a new wildfire risk model created by Karen Clark & Company (KCC). This is California’s second wildfire catastrophe model approved for insurers to use when setting home insurance rates. The approval comes as the state faces a severe homeowners insurance crisis caused by increasingly destructive wildfires and … Read more

AXA SA’s shares dropped sharply, marking their biggest single-day fall since early April, after the French insurer reported a profit that missed expectations and revealed plans to buy a majority stake in Italian car insurer Prima Assicurazioni. The stock slid as much as 7% following news that AXA’s first-half net income fell 2.4% to €3.92 … Read more

International insurer QBE and specialty insurer HDI Global have announced key new appointments as they expand their leadership teams and market presence in Europe. QBE has brought on Paul Peerdeman, a seasoned expert in marine insurance, to lead the launch of its marine products in the Netherlands starting August 1. Peerdeman, who has over 35 … Read more

Australia has faced a huge $12.5 billion loss due to espionage in 2023-24, according to Mike Burgess, the head of the Australian Security Intelligence Organisation (ASIO). This staggering figure covers not just the direct theft of secrets like intellectual property but also the costs of fighting back and responding to these threats. Espionage, in simple … Read more

U.S. President Donald Trump’s recent move to impose new tariffs on imports from dozens of countries shook global markets on Friday. The surprise announcement sent stock prices tumbling, rattled businesses, and raised fresh questions about the future of international trade. The tariffs, set to start on August 7, cover 69 trading partners with rates ranging … Read more

A group of lenders received a significant legal win on Friday when the UK Supreme Court ruled that banks should only pay compensation in serious cases of motor finance misselling. The decision reverses much of a previous ruling that had sent bank shares tumbling and raised fears of compensation costs running into tens of billions … Read more

Over the past few months, President Trump has stepped up his use of tariffs as a tool for both trade and political leverage. Initially, the tariffs were set using a straightforward approach based on countries’ trade deficits with the U.S. But recent moves seem less predictable, with levies targeting nations like Brazil, India, and Canada … Read more