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Category: Insurance Journal

Amazon’s AWS Reports Outage After UAE Data Center Struck by ‘Objects’
Insurance Journal | March 2, 2026
Amazon’s AWS Reports Outage After UAE Data Center Struck by ‘Objects’
Amazon’s cloud-computing facilities in the Middle East faced power and connectivity issues on Monday after unidentified “objects” struck its data center in the United Arab Emirates. The objects had triggered a fire on Sunday that forced authorities to eventually cut …
Insurers Urge Australia to Launch $21 Billion Flood Defense Fund
Insurance Journal | March 2, 2026
Insurers Urge Australia to Launch $21 Billion Flood Defense Fund
Insurers in Australia are urging legislators to set up a A$30 billion ($21.4 billion) flood defense fund as the nation grapples with surging costs from extreme weather events. Funding would be used on tasks including the addition of more flood-protection …
Hedge Funds, Insurers Rush to Gauge Exposure as Iran Spirals
Insurance Journal | March 2, 2026
Hedge Funds, Insurers Rush to Gauge Exposure as Iran Spirals
Hedge funds, banks and insurers rushed to size up their exposure to the Middle East after weekend attacks on Iran fueled chaos across the region. Some of Taiwan’s largest life insurers, including Cathay Life Insurance Co. and Nan Shan Life …
Travel Chaos Worsens as Iran Conflict Shuts Mideast Airports
Insurance Journal | March 2, 2026
Travel Chaos Worsens as Iran Conflict Shuts Mideast Airports
Travel chaos extended through the Middle East and beyond, sending airline stocks sharply lower on Monday, as carriers across the Persian Gulf extended blanket flight suspensions, causing major disruptions at some of the world’s busiest airports. Emirates, the world’s largest …
Waiting for Hormuz, More Oil Tankers Gather in the Persian Gulf
Insurance Journal | March 2, 2026
Waiting for Hormuz, More Oil Tankers Gather in the Persian Gulf
Dozens of laden oil tankers are hunkering down inside the Persian Gulf after attacks near the Strait of Hormuz have all but closed off the waterway, upending regional logistics, slowing exports and threatening near-term production. At least 40 very-large crude …
Belgium Seizes Suspected Russian Shadow Fleet Tanker
Insurance Journal | March 2, 2026
Belgium Seizes Suspected Russian Shadow Fleet Tanker
Belgium seized an oil tanker belonging to the Russian shadow fleet on Sunday and suspected of sailing with a “false flag and false documents,” Belgian Defence Minister Theo Francken said. Western sanctions imposed on Russia for invading Ukraine and aimed …
Ship Insurers Cancel War Risk Cover Due to Iran Conflict
Insurance Journal | March 2, 2026
Ship Insurers Cancel War Risk Cover Due to Iran Conflict
Several marine insurers said they are canceling war risk cover for ships due to the conflict in Iran and the Gulf. Insurers including Gard, Skuld, NorthStandard, the London P&I Club and the American Club said their cancellations will take effect …
Median Securities Class Action Settlement Hits 29-Year High
Insurance Journal | March 2, 2026
Median Securities Class Action Settlement Hits 29-Year High
Despite fewer securities class action settlements, the median settlement amount reached its highest level in nearly three decades last year, according to Cornerstone Research. The median settlement was $17.3 million in 2025—marking a 20% increase from the previous year and …
FedEx Customers Sue Company for Tariff Refunds After US Supreme Court Ruling
Insurance Journal | March 2, 2026
FedEx Customers Sue Company for Tariff Refunds After US Supreme Court Ruling
FedEx was sued in federal court on Friday on behalf of customers seeking refunds from the global shipping company after the U.S. Supreme Court ruled this month that President Donald Trump unlawfully imposed billions of dollars in emergency tariffs on …
Baldwin Posts Fourth Quarter Loss; Carlisle Takes Over Underwriting Group
Insurance Journal | March 2, 2026
Baldwin Posts Fourth Quarter Loss; Carlisle Takes Over Underwriting Group
Tampa-based Baldwin Insurance Group, Inc. (BWIN) reported a loss of $25.9 million in its fourth quarter, the second quarter for significant red ink. On a per-share basis, the Tampa, Florida-based company said it had a loss of 37 cents. Earnings, …