Patricia Wells

Deal activity in the insurance sector has seen a decline in the number of transactions, but the total value of those deals has increased significantly. According to a recent analysis by PwC, the total value of insurance deals reached $30 billion from 209 transactions over a six-month period ending on May 15. This is a … Read more

Insurers in Florida are facing a new landscape following the passage of House Bill 837 in 2023. This law brings significant changes to how insurance companies handle claims and settlements, aiming to reduce the risks associated with bad faith litigation. While the law offers clearer guidelines for insurers, the fundamental requirement to act in good … Read more

The US Supreme Court has upheld a federal plan to store up to 40,000 tons of highly radioactive waste in west Texas, despite strong opposition from local landowners and oil and gas companies. In a 6-3 decision, the justices dismissed a legal challenge to a key license issued by the Nuclear Regulatory Commission (NRC) for … Read more

Descartes Underwriting, a parametric insurer based in Paris, has received a strategic investment from Battery Ventures, a firm known for its focus on technology. The financial details of this investment were not shared publicly. This deal allows Battery Ventures to become a shareholder in Descartes, while existing investors keep the majority of their stakes. Marcus … Read more

Downtown Los Angeles businesses are breathing a sigh of relief after Mayor Karen Bass lifted a curfew aimed at preventing vandalism during protests against President Trump’s immigration policies. The curfew, which was imposed last week, covered a small area of the city where protests were concentrated, particularly around federal buildings. The protests erupted in response … Read more

Markel Insurance has announced new leadership changes in its U.S. wholesale and specialty division. The company is streamlining its operations from eight regions to four, aiming for a more integrated approach. This restructuring includes the creation of the West, Central, Northeast, and Southeast regions. Brian Gray will head the West region. He has been with … Read more

War risk insurance premiums for shipments to Israel have surged dramatically as the conflict between Israel and Iran continues. Industry sources report that these premiums are now three times higher than just a week ago, reflecting the escalating tensions in the region. Currently, the cost for a seven-day voyage to Israeli ports ranges from 0.7% … Read more

Viasat Inc., a US communications company based in California, has become the latest victim of a major surveillance hack attributed to the Chinese government. This breach was uncovered earlier this year, and Viasat has been collaborating with government officials to address the situation. The attack is part of a broader surveillance campaign known as "Salt … Read more

The United States has faced a staggering financial burden from climate-related disasters in the past year. From May 2022 to May 2023, nearly $1 trillion was spent on recovery and other climate needs, according to a recent analysis by Bloomberg Intelligence. This amount represents about 3% of the country’s GDP, which means it’s money that … Read more

Louisiana Governor Jeff Landry recently vetoed a bill that aimed to limit bad faith lawsuits against insurance companies, a decision that has drawn criticism from the insurance sector. The bill, known as SB 111 and sponsored by Senator Alan Seabaugh, sought to clarify when claimants could file lawsuits for bad faith against insurers. It proposed … Read more