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California expands FAIR Plan insurance limits amid escalating wildfire risk and market strain
The expansion is a centerpiece of Lara’s “Sustainable Insurance Strategy,” a broad effort to stabilize California’s fractured insurance market amid mounting climate-related losses. In recent years, major carriers have pulled back from insuring properties in wildfire-prone regions, citing escalating claims and regulatory constraints. The FAIR Plan – intended as a backstop for those unable to…

Tenth Circuit backs AdHealth in $40 million dispute over excess insurance coverage for hospital ster
The definition of “medical incident” under PorterCare’s policy included “any act or omission… which results in injury to a patient,” and crucially, stated that “all related acts or omissions… to any one person” would be considered a single incident. That wording, according to AdHealth, made it clear that each patient’s claim had to be treated…

What Northeast Contractors Need to Know
Contractors and their work are vital to the nation’s economy. In 2024, the construction industry contributed approximately $2.2 trillion—around 4.5% of the nation’s GDP. With over 8.2 million employees, the sector is essential for job creation and economic growth. In the Northeast, where infrastructure projects, urban development, and historic renovations are common, construction plays an…

Kroll report warns of rising crime risks
David Lewis, managing director at Kroll, said that financial institutions must keep pace with evolving threats, as illicit actors continuously adapt. Brent Tomlinson, co-president of risk advisory at Kroll, adds that professionals in the sector face increasing uncertainty, requiring strategic decision-making. Source link