The cancellation of three geostationary satellites is another blow for space insurance companies. SES and Eutelsat canceled the IS-41 and IS-44 satellites that they ordered from Thales Alenia Space in May. GEO satellites are the bedrock of the space insurance market, delivering about $500 million in premium each year over the past decade. In 2023, claims about three times the size of this annual premium pool sent shockwaves across the industry as underwriters pulled out.
The Washington Post faces a class action filed in the local D.C. Superior Court on Thursday over the use of reader data to set subscription prices. The proposed class is led by Chelsea Blink, a subscriber to billionaire Jeff Bezos’ Post. The lawsuit comes as the major news outlet has undergone significant changes after Bezos bought the Post for $250 million in 2013.
Markel has had a challenging few years. The changes underway in the Insurance business are reflective of a company and management team that will respond when the facts tell them to do so. Simon Wilson’s leadership will correct Markel's missteps over the coming years under his leadership.
Randy Villegas won the Democratic primary in California's Central Valley. He will face Republican Rep. David Valadao in the general election. The National Republican Congressional Committee dismissed his chances, even though the state's Democratic leaders recently redrew the district to make it easier to flip this year.