Banking industry news and updates
The European Union has imposed an €890 million fine on Google for favoring its services and limiting competition in its app store.
A recent cyclone in Sicily caused $1.1 billion in damages, revealing significant gaps in mandatory insurance for affected businesses.
Global commercial insurance rates have dropped 6% in Q2 2026, reflecting heightened competition driven by surplus capital.
Albany's audit intervention prevented a $2.2 million overpayment to its health insurer, revealing multiple billing errors and cost-saving opportunities.
The Tennessee Workers’ Compensation Appeals Board has ordered Capstone Logistics to cover lumbar fusion surgery for an employee injured at work, while denying additional disability benefits.
M&A transactions in the insurance brokerage sector fell 15% in the first half of 2026, marking the lowest volume since 2016 and highlighting market shifts.
Arthur J. Gallagher's Risk Placement Services has acquired W.N. Tuscano Agency, bolstering its presence in Pennsylvania's wholesale insurance market.
Yemen's Houthi rebels impose a maritime embargo on Saudi Arabia, blocking the Bab al-Mandeb Strait in response to regional tensions.
An Alabama court ruling underscores that employers don't need to fund medical second opinions before confirming a worker's compensation claim.
SiriusPoint appoints Emily Yoo as COO, signaling a focus on operational efficiency and technology amidst a competitive insurance market.
Galway Specialty Wholesale announces significant leadership changes aimed at enhancing its growth strategy and operational effectiveness.
Simpson Thacher enhances its insurance team by adding three partners, focusing on expertise amidst evolving private equity and insurance dynamics.
Aon's new API links Broker Copilot with Swiss Re Corporate Solutions, aiming to enhance speed and efficiency in commercial insurance underwriting.
The Rhine River's historically low water levels are significantly reducing barge capacities and increasing freight costs for vital commodities.
Three former crew members filed a lawsuit against the operator of a Thai cargo ship following a dangerous security incident in the Strait of Hormuz.
Gallagher Re reveals catastrophe loss-free rates declined by 10% to 20% during mid-year renewals, influencing market preferences toward catastrophe bonds.
The Tennessee Workers’ Compensation Appeals Board has confirmed benefits for a worker injured on the job, citing insufficient evidence of willful misconduct.
A Tennessee appeals board upheld the decision denying a FedEx worker's claim for extra compensation, citing insufficient medical evidence.
UChicago Law School implements device ban to enhance critical thinking, amid concerns over AI inaccuracies affecting legal cases in Louisiana.
Travelers has filed a lawsuit to avoid covering a San Francisco firm accused of mishandling private data collected from Meta's AI glasses.