Latest News & Insights

BlackRock Plans for Texas ETF Amid Its Push Into Lone Star State

BlackRock Inc. is going even bigger in Texas. The world’s biggest asset manager applied for the iShares Texas Equity exchange-traded fund, according to a Friday filing with the Securities and Exchange Commission. The planned ETF would be passively managed and …

J&J Plunges After Plan to Settle Baby Powder Suits Fails

Johnson & Johnson shares fell the most in five years after the company’s plan to settle thousands of talc-related lawsuits through bankruptcy was shot down in court. The ruling means J&J will have to fight roughly 60,000 claims brought by …

People Moves: JM Wilson Promotes Staruch, Dodd and Ladik and Re-Hires Snyder-Knutson; Huntington Hires Weaver as Senior Director of P&C

JM Wilson Promotes Staruch, Dodd and Ladik and Re-Hires Snyder-Knutson JM Wilson, headquartered in Portage, Michigan, Natalie Staruch was promoted to executive property & casualty (P&C) underwriter. She underwrites new and renewal commercial risks, working with carrier underwriters and independent …

Another Kentucky Farmer Pleads Guilty to Crop Insurance Fraud

A Kentucky farmer is awaiting sentencing after pleading guilty to defrauding the federal crop insurance program of almost $1.5 million. Robert Thomas Hunt, of Taylor County in central Kentucky, asked grain haulers to sell his soybean, corn and wheat under …

Japan Warns Potential Megaquake Could Kill Nearly 300,000

A long-feared megaquake off Japan’s southern coast could result in almost 300,000 deaths, according to a new model released by the government. In the worst-case scenario, a megaquake in the Nankai Trough would destroy 2.34 million buildings and kill 298,000 …

California’s Snowpack Data Likely Signals Another Fire-Prone Summer

California is emerging from its wettest time of the year with new fire and drought risks. The state is scheduled to measure the snowpack amassed over winter on Tuesday — April 1 is the typical peak point before springtime melting. …

Australia Outback Lashed by Year’s Worth of Rain in Week, With Many Livestock Killed

Australia’s remote outback in western Queensland has been swamped by flooding after being lashed with a year’s worth of rainfall in a week, sweeping away tens of thousands of livestock. Up to 500 millimeters (19.7 inches) of rain has flooded …

WTW Acquires Michigan’s Global Commercial Credit

WTW announced the acquisition of Global Commercial Credit, LLC (GCC) into Willis, a WTW business. This strategic acquisition will accelerate performance by expanding into specialized businesses that align with the company’s technical, industry-structured and expertise-driven growth plan. Founded in Michigan …

People Moves: The Hartford Expands Roles of Tech Leadership; Everest Appoints Fobert to Lead US Retail Casualty

The Hartford of Hartford, Connecticut said Shekar Pannala was named the company’s chief information officer and leads technology, as well as cybersecurity, infrastructure and cloud modernization. Prior to joining The Hartford, Pannala was global CIO of Chubb. Before Chubb, Pannala …

Judge Rejects J&J’s $10 Billion Baby Powder Settlement

A U.S. bankruptcy judge on Monday rejected Johnson & Johnson’s $10 billion proposal to end tens of thousands of lawsuits alleging that its baby powder and other talc products cause ovarian cancer, marking the third time the company’s bankruptcy strategy …

Thailand Says Collapsed Bangkok Tower Used Substandard Steel

The contractors of an under-construction tower that crashed in Bangkok during last week’s earthquake apparently used substandard steel bars made by a factory that had been shuttered by authorities. Samples of two different sizes of steel bars collected from the …

Allianz Global Investors Scraps Nuclear, Military Exclusions to Back Europe Rearmament

Germany’s Allianz Global Investors has dropped two exclusions blocking its sustainable funds from investing in defense, becoming one of the first major European asset managers to change their policies to help finance the region’s rearmament. AGI wrote to its clients …

Zurich Buys Stake in UK M&A Insurer to Fuel US, Europe Expansion

Zurich Insurance Group has agreed to acquire a minority stake in Icen Risk, a company that specializes in insuring mergers and acquisitions. The transaction will see Zurich take a “significant minority” in London-based Icen and will help support its growth …

UK Supreme Court Starts Motor Finance Case With Billions on the Line

A fight over UK motor finance and whether lenders should be on the hook for billions of pounds in compensation will play out at the Supreme Court in one of the most highly-anticipated hearings in years. At stake, the scope …

Federal Judge Orders Halt to Trump Administration Efforts to Dismantle CFPB

A U.S. judge has blocked the Trump administration and Elon Musk’s Department of Government Efficiency from pursuing efforts to dismantle the Consumer Financial Protection Bureau, the latest rebuke from the courts in the White House’s efforts to remake the federal …

Data Insight: Who’s Growing in Personal Lines?

A relative newcomer to the personal lines space—Lemonade—marked a milestone this week, announcing that it surpassed $1 billion of in force premiums, a measure of annualized premiums that the insurtech tracks on a regular basis. But the number of renters, …

From Repairs to Insurance, Trump’s Tariffs Could Make Owning a Car More Expensive

Even if you’re not in the market for a new car, U.S. President Donald Trump’s 25% tariffs on auto imports could make owning one more expensive. The new taxes, which are set to begin April 3 and expand in the …

After Commissioner’s Comments, Asphalt Roof Shingles Got a Bad Rap, Group Says

Rumors of the demise of asphalt shingles in Florida are greatly exaggerated. Asphalt shingles provide a great, cost-effective option for consumers. But in recent weeks, groups with varying interests and motivations — including those who sell roofing products that compete …

SC Bill Moves to House, Would Lower Liquor Liability Coverage, End Joint-and-Several

The fate of a bill that would modify South Carolina’s joint-and-several liability law now rests with the state House of Representatives after the state Senate last week approved the measure following weeks of heated debate. “We’re finally getting some movement …

California Bill Would Require Insurers to Notify Property Owners of Aerial Inspections

A California bill requiring insurers to provide a notice to homeowners before conducting an inspection with aerial imaging is set for a committee hearing on Wednesday. Assembly Bill 75 requires insurers to provide a notice to homeowners at least 30 …

Earlier Medical Event Does Not Shield Later Negligent Acts: Massachusetts High Court

The Massachusetts seven-year statute of repose for medical malpractice claims does not shield professionals against separate acts of negligent treatment that allegedly occurred in the years after a disputed medical event more than seven years ago. The ruling came in …

Vegas Casino Fined $10.5M in Case With Ties to Bookmaker of Ohtani Interpreter

Nevada gaming regulators have issued a $10.5 million fine against the Resorts World casino on the Las Vegas Strip over allegations of illegal gambling, many of which centered on a bookmaker with ties to the interpreter for baseball star Shohei …

Virginia Bill Requires Speed Limiting Devices on Reckless Drivers’ Cars

Virginia now has a law on the books that will require that cars of reckless drivers be equipped with technology that prohibits them from exceeding speed limits. The new law (HB2096), which will not be effective until July 2026, requires …

$90 Million Settlement Reached Over Deadly 2018 New York Helicopter Crash

Relatives of a man who died when a sightseeing helicopter crashed and sank in a New York City river have settled a lawsuit for $90 million, agreeing to reduce a jury award in order to foreclose appeals and end the …

Ex-FDNY Chief Gets 20 Months Over Bribes to Expedite Inspections

A former New York City Fire Department chief will spend 20 months behind bars after admitting to taking thousands of dollars of bribes in exchange for preferential treatment on building inspections and approvals. Brian Cordasco, a chief in the Bureau …

FTC Concerned About Privacy Protections in 23andMe Bankruptcy

The U.S. Federal Trade Commission is concerned about the potential sale or transfer of Americans’ personal information by 23andMe ancestry testing company which recently filed for bankruptcy, the agency’s chairman said on Monday. Any purchaser of 23andMe assets should agree …

RYZE Acquires Missouri’s Acorn Claims

RYZE Claim Solutions, a full-service claims management provider, announced its acquisition of Acorn Claims, a Springfield, Missouri-based firm specializing in daily and catastrophe claims services nationwide. RYZE said the transaction further supports its position in the industry, reinforcing its commitment …

Trial to Determine Who Will Pay $600M in Norfolk Southern Ohio Derailment

Norfolk Southern wants two other companies to help pay for the $600 million class-action settlement it agreed to over its disastrous 2023 train derailment near the Ohio-Pennsylvania border and the toxic chemicals that were released and burned. The railroad filed …

Severe Storms Ravage South Texas, Leaving 3 Dead and Hundreds Stranded

Drenching rain along the Texas-Mexico border let up Friday, but rescues were still ongoing a day after severe storms trapped residents in their homes, forced drivers to abandon their vehicles on flooded roads and shut down an airport. Local officials …

Young Agents: Last Chance to Share Your Thoughts on Insurance Industry

Are you a young insurance agent, 40 years old or younger? Do you know a young insurance agent? This is the final call for participating in this year’s Young Insurance Agents Opinion Survey! The deadline for participating is April 1. …