May 28, 2026Merchant Ships Desert Strait of Hormuz Amid Renewed US Strikes
Traffic through the Strait of Hormuz appeared all but deserted on Thursday as commercial operators remain wary of renewed military escalation.No commercial vessels were spotted transiting the waterway Thursday morning as tensions spiked following a s …

May 28, 2026NY Lawmakers Agree to Governor’s Auto Insurance Reforms in New Budget
After bypassing the April 1 deadline and engaging in weeks of debate and compromise, New York lawmakers have agreed on a $268.5 billion budget that includes auto insurance reforms championed by Gov. Kathy Hochul that are intended to reduce auto …

May 28, 2026DeSantis Proposes Axing Property Taxes on Primary Homes in Florida
Florida Governor Ron DeSantis unveiled a much-awaited proposal to gradually eliminate property taxes on the vast majority of primary homes in the state, a measure that would transform the way the state finances itself. DeSantis proposed eliminating p …

May 28, 2026Convex Receives Approval From Lloyd’s to Launch Long-Tail Specialty Syndicate
Convex Group Ltd., the international specialty insurer and reinsurer, announced it has received in-principle approval to launch Lloyd’s Syndicate 1987, which is planned to commence underwriting on July 1, 2026, subject to appropriate regulatory appro …

May 28, 2026Moody’s: US Faces $375B in Uninsured Flood Losses From 1-in-100-Year Event
The U.S. faces a widening gap between growing flood risk and the take-up of flood insurance, potentially exposing the nation to more than $375 billion in aggregated uninsured flood losses from a 1-in-100-year event, according to a new whitepaper from …

May 28, 2026West Coast Chemical Emergencies Raise Questions About Safety of Massive Industrial Tanks
There are millions of chemical tanks around the U.S., and experts say it is exceedingly rare for them to fail as long as they are properly maintained and inspected. Yet this past week, there were two major hazardous chemical emergencies …

May 28, 2026Panama Passes Law Imposing Stricter Requirements on Multinational Firms
Panama’s National Assembly approved a law that requires multinational entities domiciled in the country to demonstrate real local operations or face a 15% tax on passive foreign income, the Ministry of Economy and Finance said on Wednesday. The law i …

May 28, 2026Germans Switch to EVs at Record Pace Thanks to Government Bonus
More German drivers switched to an electric vehicle in the first quarter of this year than ever before after the government launched a major subsidy program that can shave as much as €6,000 ($6,967) off the price of a new …

May 28, 2026Australia Sues 3M for $1.4 Billion Over PFAS ‘Forever Chemicals’ Contamination
The Australian government said on Thursday it had launched legal action against 3M over contamination from firefighting foam supplied by the U.S. company that contained PFAS, or “forever chemicals,” seeking more than A$2 billion ($1.43 billion) in da …