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Another major California insurer is reporting losses in excess of $1 billion from the Los Angeles area wildfires. The Travelers Companies Inc. announced Tuesday it will lose an estimated $1.7 billion from last month’s wildfires, which swept through the region …

Pen Underwriting, the London-based managing general agent, announced a simplified divisional structure to bring together core commercial underwriting capabilities and expertise across the UK and Ireland. Under the central leadership of Sarah Breslin as managing director of the new Commercial …

Federal cost-cutting initiatives pushed by President Donald Trump have turned their focus to the Federal Emergency Management Agency, where spending on consultants like Deloitte now faces scrutiny. Workers at the agency have been asked to provide by Tuesday evening plain-language …

Insurers paid out a record £585 million (US$724.7 million) for weather-related damage to people’s homes and possessions in 2024 in the United Kingdom, according to the latest data from the Association of British Insurers (ABI). The record claims come following …

The U.S. Federal Reserve is in no rush to cut its short-term interest rate again given an economy that is “strong overall,” with low unemployment and inflation that remains above the Fed’s 2% target, Fed Chair Jerome Powell said in …

Israel’s financial system shows “high resilience” despite the country’s military conflicts and ongoing geopolitical uncertainty that have persisted for more than a year, the Bank of Israel said in a report on Tuesday. The banking sector’s profits have been boosted …

The New York City Council’s transportation committee heard testimony Monday on a proposal to lower the Personal Injury Protection (PIP) insurance coverage requirement for for-hire drivers from $200,000 to $50,000 per person, aligning it with the state’s requirement for all …