Tips & Guide

Child Killed in Hyperbaric Chamber Explosion at Michigan Medical Facility

A pressurized oxygen chamber exploded Friday, killing a 5-year-old patient and injuring his mother at a suburban Detroit medical facility.…

Texas Stock Exchange Raises $161 Million, Sees 2026 Trading Start

TXSE Group Inc., parent company of the proposed Texas Stock Exchange, closed its initial fundraising round at $161 million and…

Louisiana Parish Cleared of Violating Environmental Activist’s Freedom of Speech

Louisiana parish officials who threatened to arrest and imprison an environmental activist as she attempted to speak during a public…

Lawsuit Alleges City Failed to Protect Revelers in New Orleans Truck Incident

A group of victims of the New Orleans New Year’s Day terror attack have filed suit against city officials and…

Minneapolis Pays $600K Settlement in Excessive Force Lawsuit with Ex-Officer Chauvin

The city of Minneapolis has agreed to pay $600,000 to settle a lawsuit by a woman who alleged that ex-Officer…

Gallagher Bassett Buys London-Headquartered W K Webster & Co.

Arthur J. Gallagher & Co. announced that its claims and risk management solutions subsidiary, Gallagher Bassett, has acquired W K…

Miller Agrees to Acquire AHJ Holdings

Miller, the London-based specialist re/insurance broker, announced it has agreed to acquire AHJ Holdings Ltd., the ultimate parent company of…

LinkedIn Lawsuit Over Use of Customer Data for AI Models Is Dismissed

A proposed class action accusing Microsoft’s LinkedIn of violating the privacy of millions of Premium customers by disclosing their private…

The Hartford Sees Q4 Net Income Rise 11%, Strengthens GL Reserves

Net income at The Hartford increased 11% to $848 million in the fourth quarter 2024, driven by premium growth in…

Mangrove, Florida’s Newest Home Insurer, Receives Demotech Rating

Brand new Florida home insurer Mangrove Property Insurance Co. has received a Financial Stability Rating (FSR) of “A, Exceptional” from…

Amid Clean up From LA Wildfires, Some Residents Furious Over Hazardous Waste

Not far from where Ceci Carroll lives, a rock-mining company has polluted the air with dust across the San Gabriel…

New York Recovers $11 Million in Stolen Cars and Parts, Lost Titles

The New York State Department of Motor Vehicles said it helped consumers recover more than $11 million in stolen vehicles,…

Near-Misses at Washington Airport Worried Pilots Long Before Fatal Crash

U.S. commercial pilot Rick Redfern was preparing to land at Reagan Washington National Airport about a decade ago when he…

Australia Urges Residents in Northeast to Evacuate on Flood Risk

Australian officials urged residents in the northeastern city of Townsville and adjacent areas to evacuate as torrential rains raised the…

UK Warns DeepSeek Users of Data Risks But Won’t Yet Ban It

As governments grapple with what to do about DeepSeek, China’s hot new AI model — including outright bans — the…

Property-Catastrophe Reinsurance Rates Will Stop Dropping Post-Wildfires: Execs

RenaissanceRe expects to incur about $750 million in losses from the January 2025 California wildfires—and anticipates that industrywide impacts should…

City of London Hit Harder Than Rest of Economy Since Brexit Vote

The City of London, once considered the crown jewel of Britain’s dominant services sector, has performed even worse than the…

SEC’s Republican-Led Commission Tightens Oversight of Probes, Sources Say

Lawyers at the U.S. Securities Exchange Commission (SEC) have been told they need to seek permission from the politically appointed…

North American Companies Brace for Fallout From Tariffs

For North American companies, the “wait and see” moment on tariffs is over. U.S. President Donald Trump imposed a 25%…

Trump Fires Biden’s Consumer Protection Watchdog Rohit Chopra

Rohit Chopra, the director of the Consumer Financial Protection Bureau under President Joe Biden, was fired by the Trump administration,…

Tesla Sees Another Quarterly Decline in California Auto Sales Report

Tesla sales fell in California in the fourth quarter of 2024, bringing down overall sales of the popular vehicle further…

Will Georgia Gov. Kemp’s Move to Curb Lawsuits Keep Insurance Rates From Rising?

Georgia Gov. Brian Kemp on Thursday reiterated his simple pitch for lawsuit limits: They’ll halt rising insurance costs. The reality,…

Record Levels of Forever Chemicals Found in Wildlife Near New Mexico Base

Environmental regulators and health officials in New Mexico are warning hunters that harmful chemicals known to cause cancer in people…

North Carolina Supreme Court Allows 2 Year Window for Child Sex Abuse Suits

North Carolina’s highest court upheld on Friday a law that gave adult victims of child sexual abuse two additional years…

Medical Transport Plane Crash in Philadelphia Leaves 7 Dead, 19 Injured

A Medevac plane that crashed in Northeast Philadelphia killed one person on the ground and left 19 others hospitalized, in…

Inszone Acquires Texas Classic

Inszone Insurance Services announced the acquisition of Texas Classic Insurance Agency, Inc. This transaction further strengthens Inszone’s foothold in Texas…

Willis Takes Donnelly From Marsh to Head North America Risk & Broking

Willis said it has hired veteran leader Pat Donnelly as head of risk & broking (R&B) in North America. Donnelly…

Norfolk Southern Says Insurance to Cover At Least $750M of Ohio Derailment Costs

Norfolk Southern’s solid fourth quarter — combined with the optimism the railroad is hearing from their customers and support they’re…

Tri-State Region Blood Center Hit With Ransomware Attack

One of the country’s largest blood donor and research centers has suffered a ransomware attack. The New York Blood Center…

Texas Dairy, Poultry Producers Grapple With Bird Flu

Just as quickly as the bird flu is spreading, the virus is changing. Nearly three years ago, a flock of…

AM Best Revises Outlook to Positive for RLI

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of A+ (Superior)…

Aon Reports Organic Growth of 6% for 4th Quarter and Full-Year 2024

Aon reported net income attributable to shareholders of $716 million during the fourth quarter, a 44% increase from the $498…

Hawaii Wildfire Victims Spared From Testifying After Deal Over $4B Settlement

Lawyers representing victims of a deadly Hawaii wildfire reached a last-minute deal averting a trial that was scheduled to begin…

Howden Said in Talks to Buy Insurance Broker Risk Strategies

Howden, one of the world’s largest closely held insurance brokers, is in talks to acquire Risk Strategies, according to people…

Corporate ‘Irritation’ Over ESG Fueled by Significant Costs

As ESG rapidly morphs into one of the least-loved labels in global finance, those monitoring the development say it’s not…

DeepSeek’s AI Restricted by ‘Hundreds’ of Companies in Days

Companies and government agencies around the world are moving to restrict their employees’ access to the tools recently released by…

Floods in France Force Evacuations and Cut Power to Homes

Flooding caused by Storm Herminia forced the evacuation of thousands of people in northwest France, while hundreds of homes remain…

Australia Braces for Life-Threatening Floods as Six Storms Brew

Six storms around Australia and its territories are expected to strengthen in the coming days, with one system likely to…

Brazil Insurer Porto Seguro Eyes Partners for Health Business, Sources Say

Brazilian insurance group Porto Seguro is in talks with private equity funds to possibly sell a minority stake in its…

Europe’s Insurers May Face New Capital Rules for Climate Risk

Europe’s insurance watchdog has called for a recalibration of capital requirements to reflect rising climate-driven disasters across the continent. The…

People Moves: Tarby Moves to Permanent Plymouth Rock CEO; Inszone Insurance Creates Three Regional President Roles

Plymouth Rock Assurance, headquartered in Boston, named Ethan Tarby as president and CEO of Plymouth Rock Assurance Corporation. Tarby served…

Insurance Group Touts Major Victory Over FCC Rule That Would Have Limited Robocalls

A federal appeals court and the Federal Communications Commission, in one of its first actions under the new presidential administration,…

Dubai Developer Plans Luxury Condo Project on Site of 2021 Surfside Collapse

SURFSIDE, Fla. (AP) — A Dubai-based developer plans to build a 12-story luxury condominium project on the South Florida site…

Killed Florida TV Reporter’s Parents Sue His Employer, Charter Communications

ORLANDO, Fla. (AP) — The parents of a local TV journalist who was fatally shot while reporting on a killing…

People Moves: Newfront Names Maisonet Chief People Officer; BenefitMall Adds Kealamakia in Mountain West

Newfront Promotes Maisonet to Chief People Officer Newfront promoted Paige Maisonet to chief people officer. Maisonet oversees talent acquisition, people…

Pennsylvania Says It Blocked $180 Million in Auto, Home, Other P/C Insurance Hikes

The Pennsylvania Insurance Department (PID) reported that in 2024 it refused to approve $180.3 million in annual property/casualty (P/C) insurance…

World Insurance Associates Acquires Stern Insurance Group in Arizona

World Insurance Associates LLC has acquired the business of Stern Insurance Group in Scottsdale, Arizona. SIG was founded in 1987…

Woman Found Guilty of Arson After Trying to Burn 3 Homes in Hamptons

A jury found an East Quogue, New York woman guilty of arson for attempting to set three homes on fire…

Diminished Value Not Covered by Standard Auto Policy, Massachusetts High Court Says

The Massachusetts standard auto policy does not require an insurer to pay inherent diminished value (IDV) to a claimant whose…

Uber Alleges Fraud Scheme by New York Groups Faking Car-Crash Injuries

Ride-sharing giant Uber Technologies Inc. filed a racketeering lawsuit against a group of law firms, doctors and pain-management clinics it…

Insurance Payouts at $4 Billion and Counting for LA Wildfires

Preliminary data show insurance companies have paid out more than $4 billion for losses from the biggest two of the…

FAA Issues Urgent Guidance for General Aviation Pilots During New Orleans Super Bowl

The Federal Aviation Administration is issuing guidance to general aviation pilots flying near New Orleans from Feb. 6-11, 2025 to…

Insurtech Qumis Raises $2.2M to Automate Policy Reviews With AI

Qumis, a lawyer-built AI-driven platform designed to transform insurance knowledge work, announced the close of an oversubscribed $2.2 million pre-seed…

Risk Strategies Acquires Michigan’s Comprehensive Benefits, Gabrielson Insurance

Risk Strategies announced the acquisition of Comprehensive Benefits, Inc. and Gabrielson Insurance & Financial Services, both located in the Greater…

Musk’s DOGE Effort Spurs Copycat Push in Texas With New Bills

Texas Lieutenant Governor Dan Patrick wants to follow in the footsteps of Elon Musk. The state’s powerful Republican announced on…

Florida-Based Brown & Brown Reports Stronger Profits for 2024

DAYTONA BEACH, Fla. (AP) — Brown & Brown Inc. (BRO) on Monday reported fourth-quarter net income of $210 million, down…

Marsh McLennan Reports Organic Growth of 7% During Q4 and Full-Year 2024

Marsh McLennan reported fourth quarter net income of $788 million, compared with $756 billion during Q4 2023. For the full-year…

OSHA Fines GE Appliance Maker Max Amount in Death of Alabama Worker

Safety regulators fined a GE appliance manufacturer the maximum amount allowed by law in the 2024 death of an Alabama…

American Airlines Plane Collision Leaves No Hope for Survivors

The collision between an American Airlines Group Inc. regional jet and a military helicopter near Ronald Reagan airport in Washington…

Fortress Targets $1 Billion for Latest Litigation Finance Fund

Fortress Investment Group is seeking to raise about $1 billion for its latest fund in litigation finance, a sector in…

Exposed Utility Wires May Have Contributed To LA’s Eaton Fire, Law Firm Says

A law firm representing victims of the Eaton Fire in Los Angeles has submitted photos with a legal filing on…

Net Income at Selective Insurance Drops on Unfavorable Casualty Reserve Development

Selective Insurance Group reported a 24% drop in fourth quarter 2024 net income as its chief executive admitted the year…

Alphabet’s Waymo to Test Autonomous Driving Technology in New Cities

Alphabet’s self-driving unit Waymo announced on Wednesday it plans to expand testing of its autonomous driving technology in over 10…

How Competitive Is E&S Property? Exec Views Vary

E&S property insurance market conditions were a recurring talking point on two recent earnings conference calls, but the leaders of…

Generali to Pay Out Over €7 Billion in Dividends by 2027

Assicurazioni Generali SpA plans to return more than €7 billion ($7.3 billion) in dividends and buy back at least €1.5…

EU Says Drive to Simplify Will Not Weaken Climate Agenda

The European Union’s drive to simplify rules will not weaken the bloc’s climate change goals, European Commission President Ursula von…

People Moves: Lloyd’s Promotes Cliff to CFO, Succeeding Keese; Ryan Re Appoints BMS’ Ryan as EVP to Lead Strategic Business Development

This edition of International People Moves details appointments at Lloyd’s and Ryan Re. A summary of these new hires follows…

Theft and Violence in UK Retail Soar to Record Levels, Survey Shows

Theft and violence against retail workers in Britain soared to record levels last year and are “out of control,” driven…

UK Government Agencies Vulnerable to Cyberattacks, Watchdog Says

British government departments have operated hundreds of outdated computer systems and failed to meet their own cybersecurity targets, increasing the…

Flood-Prone New Zealand Says It Needs to Adapt to Climate Extremes

New Zealand plans to introduce legislation before the end of the year that will create a framework to help communities…

Lawsuit Accuses Amazon of Secretly Tracking Consumers Through Cellphones

Amazon.com was sued on Wednesday by consumers who accused the retailing giant of secretly tracking their movements through their cellphones,…

As Small Businesses Try to Recover from LA Fire Devastation, A Variety of Aid Exists

The fires in California have been devastating for many small business owners and others who saw their homes, businesses or…

Pimco Warns LA City Utility Faces Steep Liabilities After Fires

The Los Angeles Department of Water and Power is facing the risk of significant financial liability for damages in the…

Maryland Regulator Resolved $33 Million in Insurance Complaints in 2024

The Maryland Insurance Administration reports that it recovered nearly $33.3 million in 2024 for Marylanders by helping resolve insurance-related issues…

Claims Exec Who Defrauded Allied World Insurance Ordered to Prison, Pay $1.2M

James Keating of Paoli, Pennsylvania, has been sentenced to 20 months of imprisonment, followed by three years of supervised release,…

Commercial Lines Insurance: Understanding Coverage Essentials for Businesses

This post is part of a series sponsored by Darkhorse Insurance. Securing the longevity and prosperity of your business involves…

Is This Episode a Deepfake? – What’s Brewing Podcast (Episode 9)

This post is part of a series sponsored by IAT Insurance Group. In this special episode of the What’s Brewing…

Judge Extends Ban on Alliant Employees Soliciting Marsh Agency’s Customers

A federal judge in Manhattan has extended an order blocking three Alliant Insurance Services employees from soliciting or contacting any…

Oklahoma Issues Cease-And-Desist Against Unlicensed Auto Warranty Company

The Oklahoma Insurance Department (OID) has issued a Cease-and-Desist Order against Select Auto Inc., doing business as Select Auto Protect,…

East Palestine and Norfolk Southern Reach $22M Settlement for Train Derailment

East Palestine and Norfolk Southern have announced a $22 million settlement resolving all of the village’s claims arising from the…

Michigan Joins Multistate Enforcement Action Against Block, Inc.

Michigan joined 47 state financial regulatory agencies in a coordinated enforcement action against Block, Inc., for violations of the Bank…

Less Methane Leaked in West Texas, Report Says; Environmentalists Are Skeptical

Less methane escaped into the atmosphere from certain oil and gas equipment and oil wells in 2023, according to a…

People Moves: Patel Named Chair of Canopius Managing Agents, Succeeding Meader; Evolin Broking Taps Downing From Miller to Launch Construction Division

This edition of International People Moves details appointments at the re/insurer Canopius Group and the broker Evolin. A summary of…

US, UK Ships Return to Red Sea After Houthis Vow to Hold Fire

British and American ships are tentatively returning to the Red Sea after Yemen’s Houthi rebels vowed to hold off attacks…

Transport Secretary Orders Fuel-Economy Rule Rewrite

Newly appointed Transportation Secretary Sean Duffy ordered a rewrite of more stringent US fuel-economy rules, following through on one of…

Tech Update: Aventum Invests $12 Million to Create Proprietary Tech Function

Aventum, the London-based international re/insurance group, is investing $12 million over two years to create an inhouse proprietary tech function…

MGM Resorts to Pay $45M to Settle Data Breach Lawsuit

MGM Resorts International has agreed to a $45 million to resolve a class action lawsuit over its data breaches in…

Worker Struck and Killed by Airplane Tug at Charlotte Airport

Police and federal safety crews are investigating after an airport vehicle struck and killed a 66-year-old worker at Charlotte Douglas…

Progressive Net Income More Than Doubles in 2024

Progressive Corp. said it’s fourth quarter 2024 income increased 19% to about $2.4 billion compared to the same period the…

Worker Killed When House Under Construction Collapses in Massachusetts

A worker died Tuesday after a house under construction in Massachusetts collapsed. According to local police, Mario Diaz Obando, 29,…

Alabama DOI Gives Deputy Commissioners New Responsibilities in Efficiency Move

Two deputy commissioners at the Alabama Department of Insurance will take on new roles in an effort to improve efficiency…

Fire Destroys Air Busan Plane in South Korea, All 176 Evacuated

A fire broke out on a plane operated by Air Busan Co. at a local airport in South Korea late…

Chubb Posts Record P/C Underwriting Income for Q4 and 2024

Chubb posted record property/casualty underwriting income of about $1.6 billion, up 3.8% during the last quarter of 2024. Fourth quarter…

Climate Change Will Lead to Higher Deaths in Europe, Study Shows

As Europe gets hotter, more people are expected to die from extreme heat, outweighing the reduction in those killed by…

People Moves: Ignite Specialty Names Patel US Head of IP Underwriting; QBE North America Hires Finnis as SVP of Distribution

Ignite Specialty Risk Names Patel as US Head of Intellectual Property Underwriting Ignite Specialty Risk, headquartered in London, appointed Ankit…

Growth of Pet Insurance Continues as Market Could Reach $4.5B

Any pet owner who has been hit by sticker shock at the vet’s office understands why pet insurance is a…

US Economic Losses From Natural Disasters Soared in 2024

Economic losses from hurricanes and other natural disasters soared in the U.S. last year and were above average globally, reflecting…

Mississippi House Bill Puts New Rules on PBMs, But May Do Little for Workers’ Comp

A pharmacy benefits manager bill passed by the Mississippi House of Representatives last week may have little impact on drug…

Avian Flu Could Shutter Long Island’s Last Duck Farm

New York’s Long Island was once synonymous with “duck” in the culinary world. Now it may lose its last commercial…

People Moves: Brooks Insurance Adds Garabedian as Underwriting SVP

Brooks Insurance hired Tiffani Ann Garabedian as senior vice president of underwriting. Garabedian is based in Los Angeles. Garabedian has…