Tips & Guide

Family of Wrongfully Imprisoned Disabled Man to Receive $5.9 Million

More than four years after his death, Richard Lapointe’s family is set to receive a nearly $5.9 million award from…

Climate Change Made LA 35% More Primed to Burn, Scientists Say

Climate change made Southern California’s dangerous wildfire conditions in early January 35% more likely than they would have been before…

Washington Man on Workers’ Comp for 3 Years Caught on Video Carrying 48-Lb Table

A Pierce County, Washington, man has been ordered to pay back more than $60,000 to Washington’s workers’ compensation fund after…

Maine High Court Invalidates Law Erasing Time Limit on Child Sex Abuse Claims

In a 5-2 opinion, the Maine Supreme Court has declared unconstitutional a 2021 state law that eliminated the statute of…

Earthquake in Maine Rattles Houses, Nerves Across Northeast

A 3.8-magnitude earthquake centered near the southern Maine coast rattled houses in northern New England on Monday and was felt…

Uncertainty Looms for Michigan’s EV Industry Amid Federal Policy Changes

While President Donald Trump took aim at the electric vehicle industry last week, there is still optimism about the industry’s…

Trucordia Acquires Louisiana’s CADA

Trucordia has acquired the insurance business of CADA Insurance Services which has multiple offices in Louisiana, including Baton Rouge, Chalmette,…

Corpus Christi Initiates Emergency Effort to Boost Water Supply

On the South Texas coast, the city of Corpus Christi has initiated an emergency effort to boost its water supply…

‘World’s Largest Truck Stop’ Fined $390K by EPA

Two truck stops in Iowa and Missouri – Iowa 80, advertised as “the world’s largest truck stop,” and Joplin 44…

Florida Condo Sales Reach 10-Year Low as Median Price Dips, Report Shows

Florida condominium sales last year reached their lowest point in almost a decade, according to a Florida Realtors report. It’s…

Trump Asserts Federal Government Power Over California Water

President Donald Trump is asserting more federal government control over water management decisions in California and ordering U.S. officials to…

2025 Agency Salary Survey: Deadline Approaching

It’s the final days to take this year’s Agency Salary Survey. All respondents will receive a copy of the report…

Not a Bear But a Fake Deer-Collision Claim Results in South Carolina Fraud Charges

First it was the fake bear insurance fraud that made headlines around the country. Now, it’s a fake deer that…

Markets/Coverages: DUAL Europe Launches Cyber Active Protect Solution

DUAL Europe announced the launch of DUAL Cyber Active Protect, a new product that combines comprehensive cyber insurance with proactive…

APCIA: Insurance Markets Work Best Without Excessive Price Regulation

The American Property Casualty Insurance Association (APCIA) recently released a report that concludes over-regulation impedes insurance markets “Insurance markets function…

AIG’s Hancock to Lead Global Personal Lines as Insurer Restructures Businesses

American International Group (AIG) said it is organizing into three segments and Jon Hancock will lead two of them. Hancock…

Crew Abandon HK-Flagged Container Ship in Red Sea After Fire: Sources

The crew of the Hong Kong-flagged ASL Bauhinia have abandoned the container ship in the Red Sea after it caught…

Everest Group Boosts Casualty Losses Reserves $1.7B

Everest Group preannounced full-year 2024 earnings yesterday, disclosing about a 45% drop in net income attributable to a $1.7 billion…

Storm Triggers Worst Floods in 40 Years in Northwest France

Storm Herminia triggered the worst flooding in four decades in parts of northwest France and created dangerous avalanche conditions in…

Fuji Media, Rocked by Sexual Misconduct Allegations, Says Executives to Resign

Japan’s Fuji Media said on Monday its chairman and the head of its TV unit would step down immediately amidst…

Ardonagh Netherlands to Buy Majority Stake in 2 High-Net-Worth Specialist Firms

Ardonagh Netherlands, part of The Ardonagh Group, has reached an agreement to acquire a majority stake in Private Insurance Assuradeuren…

Oceans Are Warming Faster and Faster as the Earth Traps More Energy

The world’s oceans are warming four times faster than they were in the late 1980s, according to a new study.…

German Watchdog Raises Focus on Physical Risks Stemming From Climate Change

German watchdog BaFin said the country’s financial industry needs a better grasp of physical risks stemming from climate change because…

People Moves: Kalinsky Named CEO of Plymouth Rock Management; Hunter Joins Protecdiv

Plymouth Rock Assurance, headquartered in Woodbridge, New Jersey, named Greg Kalinsky as president and CEO of the Plymouth Rock Management…

UnitedHealth Says Hack at Tech Unit Impacted 190 Million People

The cyberattack at UnitedHealth Group’s tech unit last year affected the personal information of 190 million people, the health conglomerate…

Target Becomes Latest Company to Backtrack on DEI Initiatives

Target is ending its diversity, equity and inclusion program this year, the retailer said on Friday, the latest U.S. corporation…

J&J Talc Deal Should Be Rejected in Bankruptcy, Holdouts Say

Holdout creditors who claim tainted baby powder gave them ovarian cancer urged a judge to reject Johnson & Johnson’s plan…

Southern California Edison Shares New Details on Transmission Lines in Eaton Amid Wildfire Probe

Southern California Edison, a unit of utility Edison International, said on Monday preliminary analysis of data showed a “momentary and…

Ex-Yankee Mariano Rivera and Wife Deny Knowing of Church Abuse

New York Yankees legend Mariano Rivera and his wife are accused in a lawsuit of failing to protect a young…

New Mexico P.I. First to Admit Guilt in Bribe Scheme to Get Drunk Drivers off Hook

A private investigator embroiled in a corruption scandal that rocked New Mexico’s law enforcement community for over a decade was…

W.R. Berkley Posts Record Year With Q4 Net Income Up 45%

Forth quarter 2024 net income at W.R. Berkley Corp. jumped 45% compared to a year ago to about $576 million.…

NYC Scraps ‘Solvent’ Requirement in Revised Taxi Insurance Rules

New York City is walking back a proposed rule change that would have required taxi and rideshare drivers to be…

Texas Reports 564 Fatal Occupational Injuries in 2023, Down Slightly from Previous Year

The Texas Department of Insurance, Division of Workers’ Compensation this month released a report on fatal occupational injuries in Texas…

Kansas Cattle Farms Fined for Clean Water Act Violations

Cattle feedlot operators Wickstrum Farms Inc. and Wickstrum Cattle LLC of Pottawatomie County, Kansas, will pay a combined $70,000 in…

Data Centers and Large Users Strain Texas Power Grid

The rise of artificial intelligence, the digitization of the economy and everyday life’s growing computing needs have turbocharged the expansion…

Southern California Edison Asked by Investigators to Preserve Gear at LA’s Eaton Blaze

Fire investigators have asked Southern California Edison Co. to preserve its equipment near the site where the deadly Eaton fire…

Ohio Residents Push Back Against $850K Bond to Appeal Derailment Settlement

Residents challenging Norfolk Southern’s $600 million settlement for the disastrous East Palestinetrain crash have asked a court to reject a…

Merck’s $8 Billion Cancer Vaccine Faces First US Jury Trial

Merck & Co. is facing its first jury trial over claims the company wrongfully marketed its lucrative Gardasil cancer vaccine…

Florida Authorities Investigating After Trooper Shoots Suspect at Ocala Hospital

OCALA, Fla. (AP) — A Florida Highway Patrol trooper fatally shot a suspect during an altercation at a central Florida…

Mangrove, Another New Property Insurer, Enters Florida Market

Former RenaissanceRe executive Stephen Weinstein has launched a new Florida-domiciled insurance carrier, known as Mangrove Property Insurance, with plans to…

California Storm Raises Mudslide Risk, Closes Interstate

Southern California will clock a few more tense hours as showers continue to soak the burn-scarred landscape around Los Angeles.…

Generali Global Corporate & Commercial Enters Launches Business Unit in India

Generali Group has launched a new business unit – Global Corporate & Commercial (GC&C) India – within its joint-venture company…

South Korea’s Preliminary Jeju Air Crash Report Focuses on Bird Strike

South Korea released a preliminary report into last month’s deadly Jeju Air Co. crash that offers more detail on the…

Trump Proposes ‘Getting Rid of FEMA’ While Touring Disaster Areas

President Donald Trump on Jan. 24 surveyed disaster zones in California and North Carolina and said he was considering “getting…

Rhode Island Undertakes Phased Relaunch of Breached RIBridges Benefits Portal

The state of Rhode Island last week began a phased relaunch of the HealthyRhode customer portal associated with RIBridges system,…

People Moves: Chubb’s Westchester Names Leaders of Three New Business Practices

Westchester, Chubb’s Excess and Surplus Lines Division, headquartered in Alpharetta, Georgia, named three leaders for its recently formed new business…

Climate Change Makes Fierce Winter Storms Like Éowyn Even Stronger

Winter Storm Éowyn pummeled Ireland and the UK with hurricane-force winds on Friday, creating blackouts for hundreds of thousands and…

Sweden Seizes Ship Suspected of Sabotage in Baltic Sea

Sweden detained a vessel suspected of damaging a subsea data cable connecting it with Latvia, the third such incident in…

Auditors Get Tougher Guidelines on Judging Firms’ Environmental Claims

International auditors have been given new guidance on what to check when assessing firms’ environmental, social and governance claims –…

Trump Administration Halts Environmental Litigation, Sidelines Lawyers: Sources

U.S. President Donald Trump’s administration has halted all pending environmental litigation and reassigned four career Justice Department attorneys focused on…

FTC Has Bipartisan Support for Merger Cases, Outgoing Chief Says

The US Federal Trade Commission is likely to have bipartisan support to keep filing cases to block anticompetitive mergers under…

Two Workers Injured in Explosion at Cannabis Facility

Two workers were injured in an explosion and fire at a cannabis extraction facility on Maryland’s Eastern Shore last Wednesday,…

PayPal Pays $2 Million Cybersecurity Settlement to New York Regulator

PayPal, Inc. will pay a $2 million penalty to New York State for violations of the state’s financial services industry…

Sky Zone in Washington Fined for Overworking Teens

The owner of a Tukwila, Washington, trampoline park faces more than $68,000 in fines for not giving teen employees meal…

Maryland Man Convicted in $20 Million Insurance Fraud Scheme

A federal jury last week convicted a Maryland man for conspiracy to commit insurance fraud, money laundering, filing false tax…

Commercial Property Market Stabilizing, With Ample Capacity: USI

The commercial property market is showing signs of stabilization, and buyers with favorable risk profiles will see rate decreases or…

Settlements Eclipse $40 Billion in 2024 as PFAS, Reverse Discrimination Claims Emerge

By Chad Hemenway Once again, settlements from class-action litigation topped $40 billion in 2024, according to an extensive analysis of…

Reinsurance Buyers With Good Portfolio Stories See Better Renewal Outcomes: Brokers

By L.S. Howard Reinsurance buyers generally found ample capacity during January renewals as well as increased reinsurer appetite, which led…

Industry Trends to Exploit for 2025 – Part Two

This article follows Part One from last month and covers group benefits and health insurance, the effects of natural disasters…

Big Recruiting Challenges Ahead for Insurance Agencies in 2025

Have you felt like hiring and recruiting has been harder lately? It’s tough to find good candidates. People seem less…

Strategies for Brokers as M&A Slows and Insurance Rates Soften

The brokerage industry is adapting to a changing landscape as macroeconomic conditions temper the tailwinds that have driven growth in…

2025 Begins

What a start to the new year for the insurance industry. January 1 saw two separate incidents that drew attention…

Insured Losses From Natural Disasters Hit $140B as Climate Change ‘Shows Its Claws’

By L.S. Howard Insurers saw the third most expensive year for natural catastrophe losses in 2024 — reaching a total…

Lawsuit Filed Against City of New Orleans Over Fatal Truck Attack

By Martha Bellisle Six people who were injured and the father of a man who was killed in the New…

Cal/OSHA Says Safeway Exposed Workers to Serious Hazards at Largest Warehouse

The California Division of Occupational Safety and Health cited Safeway $182,000 in proposed penalties for safety violations that reportedly put…

Business Moves

National Arthur J. Gallagher, Assured Partners Arthur J. Gallagher will acquire AssuredPartners for $13.45 billion cash with a deal expected…

People & Places

National Matt McHatten, president and chief executive officer at MMG Insurance, is the new chair of the Insurance Information Institute’s…

Declarations

Secrets to Success “We really look for people that are good at service. Sometimes not even in the insurance application,…

LA Wildfires by The Numbers: Insured Losses, Total Losses, Ratings, Rates

The impact of the historic Los Angeles-area wildfires is being broadly examined and continually refined, with updates almost daily on…

Fitch Revises Mercury’s Outlook to Negative on More Possible LA Fire-Size Cats; Affirms Ratings

Fitch Ratings said in an outlook revision that it expects Mercury General Corp.’s credit profile will withstand the impact of…

ZestyAI Approved in Minnesota

ZestyAI, a provider of AI-powered property and risk analytics, announced that its Severe Convective Storm suite, including Z-HAIL™, Z-WIND™, and…

Trump Administration Reviewing US Automatic Emergency Braking Rule

A U.S. auto safety agency said on Friday it is reconsidering a landmark rule from the administration of former President…

Kansas Department of Insurance Recovers $11.8M in 2024

Kansas Insurance Commissioner Vicki Schmidt announced the Kansas Department of Insurance recovered more than $11.8 million for Kansans in 2024.…

Crop Trader Declares Force Majeure Along US Gulf During Rare Southern Snow

One of the world’s biggest crop traders has halted loading of grain vessels at US Gulf terminals as the region’s…

Texas Asks Wall Street Firms for Details About DEI Efforts

Texas and nine other Republican-led states are ratcheting up pressure on Wall Street’s diversity programs, asking firms about their policies…

Specialist Risk Group Acquires Ecclesia Group’s Assets in Netherlands and Belgium

Specialist Risk Group (SRG), the London-based insurance intermediary, announced it will acquire the assets of Ecclesia Group in The Netherlands…

Digital Lloyd’s Syndicate Ki Becomes Separate Company Within Fairfax Group

Ki, the Lloyd’s digital follow platform, announced it completed the separation from its parent company, Fairfax Group, becoming a standalone…

Where Homeowners Rates Are Rising—and Who Is Raising Them Most

According to a new analysis of homeowners insurance rates, some Midwest states saw the biggest jumps in premiums last year—and…

LA Fires Could Consume 30% of European Reinsurers’ Natural Disaster Budgets: Fitch

The Los Angeles wildfires could consume more than 30% of the aggregate natural catastrophe budgets set for 2025 by Europe’s…

New York Obtains $1.065B Judgment Against Accused Predatory Lender

New York Attorney General Letitia James said on Wednesday her office obtained a $1.065 billion judgment against Yellowstone Capital, a…

Families Sue TikTok in France Over Teen Suicides they say are linked to harmful content

In the moment when her world shattered three years ago, Stephanie Mistre found her 15-year-old daughter, Marie, lifeless in the…

Murdoch’s News Group Settles With Prince Harry, Leaving Questions Unanswered

Following a dramatic last-minute settlement in court, Prince Harry has again been victorious in his mission to take on the…

‘Geoeconomic Fragmentation’ Challenges Insurers: Geneva Association

January 2025 report from the Geneva Association, titled “Insurance in a Fragmented World Economy,” found that geopolitical tensions have driven…

Storm Éowyn Leaves Thousands Without Power, Grounds Flights

Hurricane-strength winds battered Ireland and the UK early Friday morning, leaving thousands of homes and businesses without power and disrupting…

US Health Agencies Cancel External Meetings, Travel After Trump Admin Directives

U.S. health agencies including the CDC this week canceled meetings with external groups, paused some public health publications and told…

MLB Orders Employees to Return to Office Five Days a Week

Major League Baseball has ordered its employees to return to the office five days a week, according to people familiar…

Fire Chief Fatally Shot While Helping Couple Whose Car Hit a Deer in Alabama

A man fatally shot a Georgia fire battalion chief and wounded the driver of a car that hit a deer…

Florida, Louisiana Sugarcane Could be Hurt by Winter Storm but Citrus Was Spared

Sugarcane crops in Louisiana and Florida, the only two states producing sugar from cane in the United States, could be…

J&J Tries to Avoid $30 Million in Punitive Damages in Baby Powder Case

Johnson & Johnson is balking at paying $30 million in punitive damages on top of a $15 million jury award…

OSHA Cites Contractor in Death of Worker Who Fell From Boston Theater Scaffold

A construction contractor could have prevented the death of a worker at the Cutler Majestic Theater in Boston by following…

People Moves: MEMIC Promotes Holbrook; XS Brokers Hires Dawson

The MEMIC Group, headquartered in Portland, Maine, promoted Matt Holbrook to vice president of data and analytics. Holbrook, who is…

People Moves: CIWA Names New Executive Board and Incoming Members

The California Insurance Wholesalers Association made transitions within its executive board and named new additions to its board of directors.…

Purdue Pharma, Sacklers Reach $7.4B National Opioid Settlement

Purdue Pharma and its Sackler family owners have reached a new $7.4 billion settlement to resolve thousands of lawsuits alleging…

Trump’s Attack on ‘Illegal’ DEI Disorients Corporate America

President Donald Trump’s executive orders against “illegal” diversity, equity and inclusion policies have left corporations and their lawyers struggling to…

Insurance Commissioner Orders Advance Payments on Claims for LA Wildfire Survivors

California Insurance Commissioner Ricardo Lara is asking all California insurance companies to provide advance payments on claims for Los Angeles…

Moody’s Expects L.A. Wildfires to Increase Property Insurance Costs Across State

Moody’s Ratings said in a report on Thursday that it expects the Los Angeles wildfires to increase property insurance costs…

Oklahoma Commissioner Unveils OKReady Grant Program Launch Details

Oklahoma Insurance Commissioner Glen Mulready announced new details regarding the launch of OKReady, the Strengthen Oklahoma Homes (SOH) program, that…

People Moves: Ansay Announces New Leadership Team; Ryan Specialty Adds Budd to Specialty Underwriting Segment

Anneren Family Holding Company, established to perpetuate the Ansay family’s legacy, has announced the appointment of Angela Sikowski as President…

Roller Derby League Loses Bid to Temporarily Block Ban on Trans Athletes

A New York roller derby league has lost its bid to temporarily block a local ban on transgender female athletes.…

Ohio Pastor Found Guilty for Violating City Fire Code by Sheltering Homeless

A judge in northwestern Ohio found a pastor guilty on criminal charges Tuesday for failing to comply with the city…