UBS Chairman Colm Kelleher said traditional finance firms were “systemically safe” after years of increased regulation, but guardians of global financial markets had further to go to eradicate the risks posed by the non-banking sector. “Regulators have – with respect …
European planemaker Airbus said it had withdrawn from a U.S. government-named panel reviewing Boeing’s safety processes and how they influence Boeing safety culture after two fatal 737 MAX crashes in recent years killed 346 people. The Federal Aviation Administration’s (FAA) …
THE HAGUE, Netherlands (AP) — The Dutch Senate on Tuesday approved an amendment to the country’s constitution, expanding its first article to specifically ban discrimination based on sexual orientation or disability, a move hailed as historic by rights groups. The …
A federal jury in Virginia on Tuesday found mostly in favor of two police officers who were sued by a U.S. Army lieutenant after he was pepper sprayed, struck and handcuffed during a traffic stop. Video of the 2020 incident …
U.S.-based alternative investment manager Castlelake, L.P. announced the creation of a Bermuda-licensed reinsurance company, Itasca Re Limited, to offer insurance financing to buyers and owners of commercial aircraft assets. Itasca Re’s products enable competitive financing rates for aircraft asset buyers …
San Francisco-based wholesale insurance brokerage Socius Insurance Services, Inc. has acquired the assets of Kelly Underwriting Services, a Farmingdale, New York based managing general underwriter. Led by Tom Nash, Kelly provides underwriting for professional liability risks and currently manages four …
California’s weather was calmer this week after weeks of atmospheric rivers that slammed the state with damaging rains, wind and surf that flooded homes, highways and farm fields, collapsed hillsides and toppled countless trees. Tallying the damage will take time, …
Leader Bank in Massachusetts reports it has launched a subsidiary, Leader Insurance, to provide property, auto, and umbrella insurance to its loan clients on its digital platform. According to Jay Tuli, president, Leader is offering insurance to clients in Massachusetts …
Newly sworn-in Pennsylvania Gov. Josh Shapiro is assembling his team and has selected Mike Humphreys to be the state’s insurance commissioner. Humphreys is no stranger to the Pennsylvania Insurance Department or community. He is currently serving as acting insurance commissioner, …
AM Best downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “a-” (Excellent) of California Earthquake Authority. The outlook of the Long-Term ICR has been …
