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Company Hit With $9 Million Fine for 2023 Oil Spill off Louisiana Coast
Pipeline safety regulators this week assessed their largest fine ever against the company responsible for leaking 1.1 million gallons of oil into the Gulf off the coast of Louisiana in 2023. But the $9.6 million fine isn’t likely to be …
POSTED JANUARY 09, 2026 11:00 AM |
Russian-Bound Tanker Hit by Drone in Black Sea, Maritime Sources Say
A Russia-bound oil tanker suffered a drone attack in the Black Sea that prompted it to request Turkish coastguard assistance and divert from its course, according to a notice by Lloyd’s List Intelligence and a separate maritime security source on …
POSTED JANUARY 09, 2026 10:32 AM |
China Urges Nestlé to Work Quickly on Baby Formula Recall
Chinese authorities are urging Nestlé SA to work quickly in recalling baby formula products in the mainland over potential contamination concerns. The State Administration for Market Regulation said Thursday that Nestlé had an important corporate responsibility to protect the rights …
POSTED JANUARY 09, 2026 9:40 AM |
Markets/Coverages: Mosaic Insurance Launches Bermuda Excess Casualty Business
Mosaic Insurance has launched an excess casualty unit, its eighth global product line, and hired specialist April Andruczyk to lead the business from Bermuda. The new division, which begins underwriting immediately, will provide support to large corporate and multinational clients …
POSTED JANUARY 09, 2026 9:25 AM |
Insurers Buy Erste SRT Deal Linked to €10 Billion Loans for M&A
Erste Group Bank AG sold a significant risk transfer linked to more than €10 billion ($11.7 billion) of loans as the Austrian bank seeks to free up capital for its largest ever acquisition. The Vienna-based lender sold the SRT to …
POSTED JANUARY 09, 2026 8:50 AM |
CRC Group Completes Acquisition of Lloyd’s Managing Agency Atrium
CRC Group, the Charlotte, North Carolina-based wholesale specialty and MGA business, announced the completion of its acquisition of Atrium, the Lloyd’s managing agency. Atrium will retain its brand name and operate independently under the leadership of CEO John Fowle and …
POSTED JANUARY 09, 2026 8:34 AM |
Japanese Insurer Sompo to Ramp Up Overseas Credit Investments
Sompo Holdings Inc. is aiming to increase investments in higher-yielding overseas credit to boost profits as traditional business flounders at Japan’s third-biggest property and casualty insurer. The Tokyo-based company moved several investment managers from its Japan insurance subsidiary to work …
POSTED JANUARY 09, 2026 8:09 AM |
Detroit Suburb to Pay Settlement in the Case of Woman Improperly Declared Dead
A Detroit suburb has agreed to a $3.25 million settlement with the family of a young woman who had been declared dead at home but then gasped for air and opened her eyes when her body bag was unzipped at …
POSTED JANUARY 09, 2026 8:00 AM |
Texas Congresswoman Wants Legal Status for Migrant Construction Workers
U.S. Rep. Monica De La Cruz promised to explore new ways for migrants to work legally in the construction industry. The Edinburg Republican announced on Monday her plans to meet with the U.S. Department of Labor, after South Texas builders …
POSTED JANUARY 09, 2026 8:00 AM |
People Moves: IICF Names Marohn Chair, McDonough Vice Chair of Board of Governors; AXA XL Promotes Stitham to CUO, Casualty, Americas
Insurance Industry Charitable Foundation Announces Marohn as Chair of IICF Board of Governors The Insurance Industry Charitable Foundation (IICF) named Steve Marohn, president, commercial lines at Grange Insurance, as chair of IICF’s board of governors. Adam McDonough, executive vice president …
POSTED JANUARY 09, 2026 7:35 AM |
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