Insurance Journal delivers the latest business news for the Property/Casualty insurance industry
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Brazil Braces for More Rain as Historic Flood Damages Mount

The south of Brazil is preparing for the arrival of new rains and colder temperatures that threaten to deepen a crisis created by the historic floods that have deluged the region. As much as 300 millimeters (11.8 inches) of rain …

Mon May 13, 2024 12:42
Suspected Pirate Attack in Gulf of Aden Raises Concerns About Growing Somali Piracy

A European naval force detained six suspected pirates on Friday after they opened fire on an oil tanker traveling through the Gulf of Aden, officials said, likely part of a growing number of piracy attacks emanating from Somalia. The attack …

Mon May 13, 2024 11:43
Western Canada Wildfires Prompt Evacuations, Air Quality Warnings

The season’s first major wildfires have spread to roughly 10,000 hectares (24,710 acres) across Western Canada on Sunday as authorities issued an evacuation order for a community in British Columbia and warned of poor air quality across provinces. In British …

Mon May 13, 2024 10:44
Decayed, Broken Utility Pole Caused Largest Wildfire in Texas History: Report

LUBBOCK — A decayed utility pole that broke, causing power wires to fall on dry grass in the Texas Panhandle, sparked the state’s largest wildfire in history, a Texas House committee confirmed Wednesday. And other poorly maintained power equipment sparked …

Mon May 13, 2024 09:44
Catastrophe Bonds Use Models Underestimating Climate Risks, Investors Say

The risk models that helped drive one of the most lucrative bets of 2023 are increasingly being tested by smaller weather shocks fueled by climate change. Catastrophe bonds and other insurance-linked securities, which powered last year’s highest-returning hedge fund strategy, …

Mon May 13, 2024 08:45
Supreme Court Rules Against Warner Music in Copyright Damages Case

The U.S. Supreme Court on Thursday ruled in favor of a Miami music producer in a legal fight with Warner Music over a song by rapper Flo Rida, finding that there is no time limit for recovering monetary damages in …

Mon May 13, 2024 08:45

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