Tips & Guide

Damage to Baltic Sea Telecoms Cable May Have Occurred in January, Operator Says

Finland’s telecoms operator said on Monday that the damage reported last week to its C-Lion1 telecoms cable in the Baltic…

Texas Man Sentenced to 13 Years in Prison for Multi-Million Dollar Insurance Fraud

A Texas man was sentenced last week to more than 13 years in prison for constructing a $5 million insurance…

People Moves: Incline P&C Group Adds Wafer as Independent Director

Incline P&C Group, a leading insurance program market services firm, has elected Thomas Wafer to the Board of Directors of…

Court Reduces Verdict for Michigan Gardener Whose Organic Lawn Was Destroyed

A Michigan court struck down a large chunk of an $88,550 verdict for a Detroit-area organic gardener whose beloved clover…

Engineering Company to Pay $53M to Settle Flint, Michigan Water Lawsuits

An engineering company said Friday it has agreed to pay $53 million to settle all remaining lawsuits that alleged some…

Google to Be Hit With EU Charges of Breaching Big Tech Rules, Sources Say

Alphabet unit Google is set to be charged with breaching EU rules aimed at checking the power of Big Tech…

Europe Braces for Freeze of US Foreign Corruption Practices Act

In recent years, Glencore Plc, Airbus SE and Credit Suisse have collectively paid more than $5.5 billion in fines for…

NHTSA Laid Off 4% of Staff, Spokesperson Says

The National Highway Traffic Safety Administration laid off 4% of its staff as part of a government-wide trimming of probationary…

California Governor Asks Congress for $40B for LA Wildfire Relief

California Gov. Gavin Newsom has asked Congress to approve nearly $40 billion in aid to help the Los Angeles area…

Insurance Fraud – Brazen and Big

Anyone who believes insurance is a dull industry is unfamiliar with recent fraud schemes so macabre they could be turned…

SEC Closes Investigation Into Robinhood’s Crypto Arm Without Action

Robinhood said on Monday the U.S. Securities and Exchange Commission had closed its probe into the firm’s crypto trading arm…

Mangione Draws Crowd at First Court Hearing Since Arraignment

NEW YORK (AP) — The defendant wore a bulletproof vest and shackles. A woman in the crowd wore a “Free…

Maryland Report Says Many Workers Misclassified, Costing $59M in Comp Premiums

Worker misclassification in Maryland is widespread, leaving thousands of workers without injury protection and depriving insurance companies of more than…

Florida AG Sues Target, Claiming DEI Initiatives Misled Investors

TALLAHASSEE, Fla. (AP) — Florida’s new attorney general filed a federal court lawsuit against Target on Thursday, claiming the discount…

Georgia Tort Bill Advances After Kemp Makes Concession on Medical Costs

ATLANTA (AP) — Georgia senators voted 33-21 on Friday to support Gov. Brian Kemp’s top-priority legislation to limit lawsuits, but…

Snowy Roads Lead to Hundreds of Crashes in Virginia, North Carolina

NORFOLK, Va. (AP) — Roads in Virginia and North Carolina remained treacherous Thursday as unusually heavy snow led to hundreds…

EU Plans to Walk Back Key Planks of Toughest ESG Legislation

The European Commission is proposing a significant watering down of what was arguably its most consequential piece of ESG regulation.…

COVID-Like Bat Virus Discovered by Researchers in Chinese Lab

Researchers at the Wuhan Institute of Virology in China said they discovered a new coronavirus in bats that enters cells…

Bybit Hit by Crypto’s Worst Hack With Almost $1.5 Billion Stolen

Crypto exchange Bybit said it was hacked, resulting in what analysts estimate was the loss of almost $1.5 billion worth…

EEOC Seeks to Drop Transgender Discrimination Cases

Signaling a major shift in civil rights enforcement, the federal agency that enforces workplace anti-discrimination laws has moved to dismiss…

Berkshire Hathaway Removes Diversity and Inclusion From Annual Report

Warren Buffett’s Berkshire Hathaway on Saturday joined a growing list of American companies to publicly change their approach to discussing…

Florida OIR Wants More Data, Warns Insurers about Concurrent Causation Denials

As consumer complaints have apparently mounted over unpaid hurricane losses, Florida’s top insurance regulator and some lawmakers are signaling new…

How Better Water Systems Can Help a City Survive The Next Firestorm

Santa Rosa. Paradise. Boulder County. Lahaina. Los Angeles. All are places that have shown that American cities and their water…

Washington Bill Would Provide Restitution for Policyholders Harmed by Insurers

A bill to allow the Washington’s insurance commissioner to order restitution for policyholders harmed by insurance companies moved out of…

Why Soft Skills Matter

This issue reveals data and compensation insights gathered from Insurance Journal’s annual Agency Salary Survey. For the third year in…

Global Commercial Insurance Rates Drop in Q4 for 2nd Consecutive Quarter: Marsh

Global commercial insurance rates fell 2% in the fourth quarter of 2024 following a 1% decline in Q3 2024—marking the…

Sica Fletcher Index: Total Agency-Broker M&A Revenue Down 26% in 2024

The 22 acquirers that make up the Sica Fletcher Index were involved in 533 agent-broker deals in 2024, down 6%…

Reviewing Historic Predictions

Back around 2013 (the copy I have is not dated, so I might be off a year), McKinsey & Company…

Building and Retaining Talent: Salaries, Benefits, Culture Matter but That’s Not Always Enough

By Andrea Wells Independent agency owners, producers, and support staff continue to report higher pay, according to Insurance Journal’s national…

My New Markets

Restaurants Market Detail: Pacific Excess Insurance Marketing is a wholesaler/general agent with a specialty in restaurants and access to many…

Reflections and Observations: 5 Takeaways from 2024 to Build a Better 2025 and Beyond

Last year seems like ancient history. Most people seem to have adjusted to the daily whirlwind of information, activity, and…

Salaries, Total Income Jump Again in 2024 But Satisfaction Continues to Decline

By Andrea Wells Insurance agency owners, producers, and support staff on average made more money in 2024, but for two…

Travelers Posts 28% Increase in Q4 Net Income

By Chad Hemenway The Travelers Cos. said fourth-quarter 2024 and full-year net income increased 28% and 67%, respectively, on strong…

Insider Secrets: Creating High-Converting Sales Funnels for Insurance

Having a well-defined sales funnel is crucial for effectively attracting and converting potential clients. For insurance professionals, understanding and implementing…

Developing Leaders in Insurance Agencies

Understanding the strengths and weaknesses of your team is crucial–especially for insurance agency owners. Recognizing personal limitations allows leaders to…

Declarations

Los Angeles County Fires “We’re seeing total losses. We’re going out there and there’s really nothing to see. We’re maybe…

Farmers Turn to Airbnb, Corn Mazes to Outlast Agricultural Downturn

By Heather Schlitz A dead-end dirt road cutting through rural Wisconsin leads to a pasture dotted with shaggy-coated Highland cattle,…

Buffett’s Berkshire Posts Record Profit on Insurance, Investments

Warren Buffett’s Berkshire Hathaway on Saturday said operating profit set a record in the fourth quarter and for the third…

LA Mayor Removes Fire Chief in Fallout From Palisades Blaze

Los Angeles Mayor Karen Bass removed Fire Chief Kristin Crowley, citing failures in the department’s response to the devastating Palisades…

SEC to Drop Lawsuit Against Coinbase, Firm Says

Coinbase said on Friday the U.S. securities regulator planned to withdraw its lawsuit against the crypto exchange, ending a contentious…

Ohio Ex-Police Officer Sentenced for Starting 26 Arson Fires in Wayne National Forest

A former Ohio fire department administrator and police officer was sentenced in federal court here to 18 months in prison…

People Moves: People Moves: Brown & Riding appoints Conyers, Jr. Energy Practice Leader

Brown & Riding, headquartered in Dallas, appointed Robert Conyers, Jr., as energy practice leader. Conyers joined Brown & Riding in…

People Moves: Alliant Hires Leadley, Pelletiere and Rhatigano as Commercial Surety VPs

Alliant Insurance Services, headquartered in Irvine, California, hired Jeff Leadley, Glenn Pelletiere and Tom Rhatigan as senior vice presidents in…

Hawaii’s Kilauea Again Spewing Lava in Its 10th Episode

Kilauea volcano began shooting lava into the air once again on the Big Island of Hawaii. Kilauea, one of the…

OID Announces Zip Codes for Strengthen Oklahoma Homes Grant Pilot Program

The Oklahoma Department of Insurance shared eight zip codes for the initial pilot launch of OKReady, the Strengthen Oklahoma Homes…

North Dakota Insurance Department Recovers Over $2M in 2024

The North Dakota Insurance Department recovered over $2 million for policyholders across the state in 2024, helping over 1,500 customers,…

Texas Bill Would Allow Vacant Offices to be Converted Into Dwellings

As Texas’ major urban areas grapple with a glut of vacant offices, state lawmakers may make it easier to transform…

AM Best: US P/C Industry Improves Despite 2024 Underwriting Loss

The U.S. property/casualty industry took another underwriting loss in 2024, but results improved thanks to rate increases and changes in…

Birkenstock Sandals Are Pieces of Design and Not Protected by Copyright: German Court

Birkenstock sandals, which have evolved from a symbol of counterculture to a trendy fashion item, do not qualify as art…

People Moves: Price Forbes Rebrands Turkey Operations, Making 3 Key Appointments

Price Forbes, the London-based broker, has announced three key appointments in Turkey and a rebranding of its local business. Gökçen…

Georgia Commissioner Proposes New Rules on Lithium Batteries, Mobile Homes

The Georgia Office of insurance commissioner will hold a hearing March 20 on new rules regarding fire safety, including the…

Tesla Recalls 380,000 Vehicles Over Power Steering Assist Issue

Tesla said on Friday it was recalling nearly 380,000 vehicles in the United States due to a power steering assist…

Chilean Men Charged With Burglarizing Homes of Mahomes, Burrow, Other Players

ST. PETERSBURG, Fla. (AP) — Seven men from Chile have been charged in Florida federal court with orchestrating burglaries at…

Woman Sues Georgia Fertility Clinic, Saying She Gave Birth to Another Woman’s Baby

SAVANNAH, Ga. (AP) — Krystena Murray became pregnant after undergoing in vitro fertilization two years ago, and said she was…

Intel Resolves Antisemitism Lawsuit, Case Is Dismissed

A Jewish former employee of Intel has resolved his lawsuit accusing the chipmaker of firing him after he complained about…

People Moves: Chesapeake Employers’ Insurance Names Swartz Chief Growth Officer

Chesapeake Employers’ Insurance Company, headquartered in Towson, Maryland, named Jodi M. Swartz as the company’s senior vice president and chief…

Sweden Investigates Possible New Breach of Baltic Sea Cable

Sweden is investigating a possible breach of an undersea cable off the country’s southwestern coast in the Baltic Sea, the…

Pro-Russian Hackers Attack Italian Websites After President’s Comments About Ukraine

A pro-Russian hacker group attacked Italian government websites on Tuesday [Feb. 18] in what it said was a reaction to…

Climate Goals Still Make Business Sense, Rio Tinto CEO Says

Rio Tinto Group, the world’s second-largest mining company and a major polluter, came out in support of corporate efforts to…

India Insurers Look to Hike Health Premiums as Pollution Stings

Indian insurers are considering making New Delhi residents pay 10% to 15% more for new health policies after an extraordinary…

Rebuilding Costs Rose More Than 60% in the Last Decade: Verisk

Over the past decade, there’s been a dramatic increase in reconstruction costs, according to Trish Hopkinson, head of 360Value at…

Supreme Court Tackles Straight Woman’s ‘Reverse’ Discrimination Case

Marlean Ames received numerous promotions and good evaluations over the years working in Ohio’s youth corrections system, so when she…

New York Sues Vape Distributors for Fueling Teen Epidemic

New York sued several large e-cigarette manufacturers, distributors and retailers on Thursday, saying they fueled a youth vaping epidemic by…

Zurich Insurance Sees $200 Million LA Wildfire Loss

Zurich Insurance Group AG is expecting pretax losses of $200 million from the January California wildfires as the insurer reported…

County Trash Collector’s Workers’ Compensation Claim Thrown Out

When the garbage truck stopped, the worker stepped down from the metal step on the back of the truck to…

World Insurance Acquired Grandview Brokerage of Brooklyn

National insurance broker World Insurance Associates LLC announced that it acquired the business of Grandview Brokerage LLC of Brooklyn, New…

AM Best Revises Outlooks to Negative for Mercury and Subsidiaries Over LA Wildfires

AM Best revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A (Excellent) and the…

AM Best Upgrades Credit Ratings of The General Following Sentry Acquisition

AM Best has removed from under review with positive implications and upgraded the Financial Strength Rating to A+ (Superior) from…

Airbnb Files Lawsuit Against City of New Orleans Over Regulation Dispute

Airbnb is suing the City of New Orleans for requiring the company and short-term rental platforms ensure properties they market…

Winter Chill Gripping Central US Breaks Temperature Records

Intense cold will grip the central and southern US for at least another day, sending temperatures to all-time lows in…

Tesla Cited by U.S. Regulators Over Worker’s Death in Texas

Federal regulators have cited Tesla TSLA.O for violating workplace safety rules in connection with the electrocution of a worker last…

People Moves: Allianz Commercial Names Martin as Chief Risk & Resilience Officer; AXA XL Promotes Dores to Country Manager, Iberia

This edition of International People Moves details appointments at Allianz Commercial and AXA XL. A summary of these new hires…

Arthur J. Gallagher Announces Acquisitions of 2 Firms in Northeast

Global insurance broker Arthur J. Gallagher & Co. announced the acquisition of Waltham, Massachusetts-based Agilis Partners LLC. Agilis is an…

Oil Tankers Rocked by Mystery Blasts After Trips to Russia

At least four oil tankers have been hit with explosions so far this year — all of them having visited…

New UK-Based Climate Group Emerges as Banks Retreat

It was a dank, drizzly February evening when about 120 people gathered in the brightly lit art gallery of London’s…

Former Florida Broker, Others Charged in Insurance Fraud Schemes

One person in Texas and four people in Florida, including a previously licensed insurance broker, face insurance fraud charges in…

CIAB: Commercial Premiums Rise 5.4% Overall in Q4 2024

2024 ended as steady as ever – with “no real change in current market conditions” – as respondents of a…

Florida Rushing to Enforce New Immigration Laws. Here’s What to Know

TALLAHASSEE, Fla. (AP) — Days after Gov. Ron DeSantis signed off on immigration legislation he says is the toughest in…

EPA Submits to Congress Approved EV Plan Adopted by 11 States

The U.S. Environmental Protection Agency said on Wednesday it has submitted the Biden administration’s approval of California’s landmark plan to…

Delta Offers $30,000 to Each Passenger in Toronto Crash Landing

Delta Air Lines Inc. is offering $30,000 to every passenger aboard a regional jet flight that came to rest upside…

Markets/Coverages: Marsh Expands Fast Track Facility, Offering 10% Automatic Capacity

Marsh, the insurance broker, risk adviser and Marsh McLennan business, announced the addition of significant new capacity to its Fast…

Vanguard Pauses Corporate Meetings Over New ESG Guidance

Top mutual fund manager Vanguard has paused meetings with portfolio companies while it reviews the impact of new guidance on…

EEOC Says It’s Going After ‘Anti-American Bias’ in the Workplace

The U.S. Equal Employment Opportunity Commission said it will enforce antidiscrimination laws against employers that “illegally prefer non-American workers. In…

A Run of Fatal Airline Crashes Upends Sterling Safety Record

A spate of deadly airline crashes has tarnished the industry’s sterling track record, fraying the nerves of travelers and prompting…

Data Insight: More Insurers Expect to Boost Top Lines Than Headcount

Continuing a trend that’s persisted for several quarters, the latest Insurance Labor Market Study from Jacobson Group and Aon finds…

NC Insurance Commissioner to be Released From Hospital After Heart Surgery

In his previous, dual role as state fire marshal, North Carolina Insurance Commissioner often championed the work of firefighters in…

Carnegie Mellon to Pay Students $4.8 Million for Shifting to Remote Classes During COVID

Carnegie Mellon University has agreed to pay $4.8 million to settle a class action brought on behalf of students whose…

Airbnb Billionaire Plans Factory-Built Homes for LA Fire Victims

Billionaire Joe Gebbia, the co-founder of Airbnb Inc. and a board member of Elon Musk’s Tesla Inc., plans to donate…

People Moves: West Named Oregon Workers’ Compensation Division Administrator

The Oregon Department of Consumer and Business Services appointed Matt West as administrator of the Workers’ Compensation Division. West has…

Massive Fire at Pennsylvania Aerospace Plant Prompts Evacuations

Schools were closed and residents were ordered to shelter-in-place Tuesday after a large fire broke out at an aerospace manufacturer’s…

Insurance Matters Topped Consumer Cases in Oregon in 2024

Insurance disputes led consumer advocacy cases in Oregon last year, accounting for 3,357 of the 5,445 complaints filed with Oregon…

Insurance and Technology: A Dynamic Duo for Modern Agencies

This post is part of a series sponsored by Darkhorse Insurance. In the ever-evolving landscape of the insurance industry, a…

King Risk Partners Acquires Kerr Agency in Connecticut

Florida-based insurance broker King Risk Partners announced its acquisition of the Kerr Agency Inc., an independent insurance agency located in…

Former Ohio Insurance Agent Sentenced to Probation for $1.4M Theft

A former Ohio insurance agent was sentenced this month to five years of probation for thefts exceeding $1.4 million. Rhonda…

AM Best Revises Under Review Status to Positive for Farm Bureau of Arkansas

AM Best has revised the implications of the under review status to positive from developing for the Financial Strength Rating…

Record-Breaking Cold to Slam Central US and Test Texas Grid

Winter storms and record-breaking cold will descend on the central and southern US this week, snarling transportation and putting the…

Trump’s SEC Leader Shifts Power From Investors to Boardrooms

New policies from the top U.S. securities regulator hand corporate boards more power over investors in ways that could curtail…

Federal Mortgage Insurer to Lay Off About Half Its Workforce

The Trump administration is planning to lay off at least 40% of the workers at the federal agency that provides…

Mastercard’s £200 Million Settlement in Class Action Suit Gets Court Scrutiny

Mastercard Inc. unfairly reduced a £10 billion ($12.6 billion) class action case to a settlement of just £200 million, according…

Farmers Estimates $600M in Losses from LA Wildfires

Farmers said on Wednesday that it expects losses from the Los Angeles wildfires last month to reach an estimated $600…