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Archive: August 2025

Trump Hits Dozens More Countries With Steep Tariffs
Insurance Journal | August 1, 2025
Trump Hits Dozens More Countries With Steep Tariffs
U.S. President Donald Trump imposed steep tariffs on exports from dozens of trading partners, including Canada, Brazil, India and Taiwan, ahead of a Friday trade deal deadline, pressing ahead with plans to reorder the global economy. Trump set rates including …
Espionage, Including Theft of Intellectual Property, Cost Australia $12.5B in 2023-2024
Insurance Journal | August 1, 2025
Espionage, Including Theft of Intellectual Property, Cost Australia $12.5B in 2023-2024
Espionage cost Australia $12.5 billion in 2023-24, according to a study by ASIO and the Australian Institute of Criminology. The figure includes the direct costs of known espionage incidents, including state-sponsored theft of intellectual property, as well as the indirect …
AXA Shares Decline on Net Income Miss, Italian Takeover
Insurance Journal | August 1, 2025
AXA Shares Decline on Net Income Miss, Italian Takeover
AXA SA fell the most in almost four months after profit missed estimates and the French insurance group agreed to buy a majority in Italian car insurer Prima Assicurazioni. The stock fell as much as 7%, the biggest intraday decline …
People Moves: QBE Hires ERGO’s Peerdeman to Launch Marine Insurance in Netherlands; HDI Global Appoints 2 New Leaders in Long-Tail Segment
Insurance Journal | August 1, 2025
People Moves: QBE Hires ERGO’s Peerdeman to Launch Marine Insurance in Netherlands; HDI Global Appoints 2 New Leaders in Long-Tail Segment
This edition of International People Moves details appointments at QBE and HDI Global. A summary of these new hires follows here. QBE Hires ERGO’s Peerdeman to Launch Marine Insurance Biz in Netherlands International business insurer QBE has hired marine insurance …
KCC Completes Review of California Wildfire Model
Insurance Journal | August 1, 2025
KCC Completes Review of California Wildfire Model
The California Department of Insurance completed a review of the KCC US Wildfire Reference Model Version 3.0, making it the state’s second wildfire catastrophe model. The new model for use by insurers in assessing wildfire risk in property insurance ratemaking …
Specialty Program Group Acquires Miami-Based ANOVA Marine Insurance
Insurance Journal | August 1, 2025
Specialty Program Group Acquires Miami-Based ANOVA Marine Insurance
Specialty Program Group, a specialty insurance brokerage and distribution firm headquartered in Chicago, has acquired Florida-based ANOVA Marine Insurance, a managing general agent and Lloyd’s coverholder. ANOVA, in business since 2011, offers automated coverage and global policies for cargo, and …
Radioactive Wasp Nest Found at SC Site Where US Once Made Nuclear Bombs
Insurance Journal | August 1, 2025
Radioactive Wasp Nest Found at SC Site Where US Once Made Nuclear Bombs
COLUMBIA, S.C. (AP) — Workers at a site in South Carolina that once made key parts for nuclear bombs in the U.S. have found a radioactive wasp nest but officials said there is no danger to anyone. Employees who routinely …
‘Soft Market Under Stress’ Offers Unique Window of Opportunity for Insurance Buyers
Insurance Journal | August 1, 2025
‘Soft Market Under Stress’ Offers Unique Window of Opportunity for Insurance Buyers
A buyer-friendly competitive commercial insurance market is likely to be short-lived, according to a new analysis of second-quarter 2025 market conditions from global professional services firm Aon. “This is not a typical soft market cycle; it’s a soft market under …
Bayer Adds $1.37 Billion to Reserves for Ongoing Roundup Litigation
Insurance Journal | August 1, 2025
Bayer Adds $1.37 Billion to Reserves for Ongoing Roundup Litigation
German pharmaceutical and biotechnology group Bayer said on Thursday it had set aside an additional 1.2 billion euros ($1.37 billion) in provisions to address ongoing litigation in the United States over weed killer Roundup. The German group said that, on …
NY and NJ Flash Flood Threats Recede as Weather Stabilizes
Insurance Journal | August 1, 2025
NY and NJ Flash Flood Threats Recede as Weather Stabilizes
Thunderstorms disrupted New York City transit and inundated roads just as workers started their the home-bound commute Thursday, but conditions were improving into the night and Friday morning commuters can likely expect smoother journeys. All flash flood warnings in New …