Full content: The non-bank financial sector’s share of global assets grew to 51%, or $256.8 trillion, last year and expanded at double the rate of the traditional banking industry, the Financial Stability Board said on Tuesday. Non-bank financial intermediaries involved in what …

Full content: As McKinsey & Co. partners gathered in the consulting giant’s birthplace in late October, Bob Sternfels delivered a rallying cry. “We will kick some ass as we start our second century,” the firm’s top executive told the thousands of attendees. …

Full content: he Alabama Medical Cannabis Commission on Thursday approved licenses for dispensaries, a key step to making medical marijuana available in the state after years of delay. Commission Chairman Rex Vaughn estimated the products will be available in the spring of …

Full content: Trucking coverage specialist Canal Insurance, based in Greenville, South Carolina, has named Matthew Grimm chief underwriting officer, effective this week. Grimm has more than 30 years of experience in the property-casualty insurance business, including leadership roles at Integrated Specialty Coverages, …

Full content: Swiss Automation Inc. has agreed to pay $421,234 to resolve alleged False Claims Act violations relating to its failure to provide adequate cybersecurity for certain drawings of parts that the company machined and supplied to Department of Defense (DoD) prime …

Full content: World Insurance Associates announced this week that it acquired the business of The Fidella Agency of Lakewood, New Jersey in September. Fidella was founded in 2011 by Joseph Deutsch. The agency specializes in commercial property/real estate insurance. “We are an …

Full content: Washington Insurance Commissioner Patty Kuderer issued guidance for flood survivors and the insurance companies and adjusters handling their claims following the evacuation of thousands of Western Washington residents from their homes during the atmospheric river and floods that slammed into …

Full content: One of Michigan’s most enduring sagas in the Upper Peninsula — the grounding of a Russian cargo jet marooned near Marquette for 16 years — may soon come to an end after years of lawsuits, police investigations and feuding over …

Full content: YA Group announced the acquisition of the business of J.M. Reagan Consulting (JMR), a multidisciplinary consulting business specializing in property damage consulting and construction claims. The strategic acquisition strengthens YA’s presence in Texas and enhances its ability to deliver comprehensive …

Full content: Washington and the Pacific Northwest are facing multiple rounds of torrential downpours this week, raising flood risks in the region as residents are still grappling with last week’s historic rains. Heavy rain was peaking Monday in Washington, where as much …

Full content: White House AI czar David Sacks defended President Donald Trump’s push to rein in state-level regulation of artificial intelligence over objections from Democrats, saying the move seeks to ease a growing compliance burden for companies. Under the directive signed by …

Full content: German insurers are the most exposed in Europe to illiquid corporate bonds, a top watchdog said in one of the most detailed reports to date on the industry’s investments in private credit. At €91.8 billion ($108 billion), more than 40% …

Full content: A gas explosion set off a major fire in a San Francisco Bay Area neighborhood last week after obliterating at least one home, blowing out windows and shaking nearby houses. Six people were taken to hospitals for injuries, fire officials …

Full content: India’s new nuclear energy bill will spare equipment suppliers from liability in case of incidents, among other sweeping changes to the sector. The government introduced the bill in the lower house of parliament, seeking lawmakers’ approval on Monday. The existing …