The closure of the Strait of Hormuz due to US-Iran tensions is causing gas prices to spike nationwide. Drivers face higher fuel costs as peace negotiations continue while one-fifth of global energy flows remain disrupted.
Industry News
Natural Disaster Insurance Gap Hits $424 Billion
Global uninsured natural disaster losses reached $424 billion in 2025, with North America facing the largest protection gap at $140 billion. The gap continues widening as property values rise faster than insurance coverage.
Workers Comp Changes Could Impact Commercial Drivers
ANV acquired Specialty Comp Insurance Solutions, a Texas workers’ compensation specialist, which could influence insurance availability and pricing for commercial drivers and fleet operators in construction, manufacturing, and temporary staffing sectors.
Climate Change Drives Auto Insurance Into Crisis Mode
Climate change creates new challenges for auto insurance as extreme weather events drive up claims and force insurers to reassess coverage in high-risk areas, leading to higher premiums and reduced availability.
Pharmacists Mutual Names New Board Chair in 2026
Felix Gallagher, PharmD, was appointed Board Chair of Pharmacists Mutual Insurance Group, succeeding Sue Sutter who served since 2024. Gallagher brings community pharmacy experience and owns PharmServ Solutions.
AIG Gets New CEO After Leadership Culture Issues
AIG appointed Eric Andersen as CEO to replace Peter Zaffino, whose intense management style caused significant executive turnover despite financial success. The leadership change aims to address cultural issues while maintaining the company’s recent profitability improvements.
Rising Somali Piracy Threatens Global Shipping Costs
Recent hijackings off Somalia’s coast signal a potential resurgence of piracy that could inflate marine insurance premiums and shipping costs, ultimately affecting consumer prices across the US supply chain.
New Hampshire Agency Expands Commercial Team
Davis & Towle Insurance Group has expanded its commercial insurance team with a new manager hire and internal promotion. The moves reflect broader growth trends in New Hampshire’s insurance market as agencies adapt to increasing commercial coverage demands.