Latest News & Insights

As Wildfire Season Arrives, Budget Woes and Federal Uncertainty Put States at Risk

Budget woes, combined with cuts to the federal wildfire-fighting workforce and President Donald Trump’s tariff and sovereignty threats against Canada, have made it more difficult for state officials to plan for the upcoming wildfire season. In Washington, a $12 billion …

Public Adjuster Pleads Guilty to Another Scam, This One on a Church in Georgia

A notorious public adjuster, already in prison for scamming Louisiana and Texas residents out of insurance proceeds, last week pleaded guilty to defrauding Brotherhood Mutual Insurance Co. and a Georgia church out of millions of dollars after the church was …

Fake Construction Site Injuries Reaching New Heights in New York City, Suit Says

Contractors insurance groups say worker injuries are being faked at an unprecedented rate across New York’s construction sites in hopes of receiving workers’ compensation benefits and liability insurance payouts, according to court filings and an ABC News report. Worker advocates …

HCI Invested in Tampa Office Site, Now Leasing it to GEICO for 1,000-Job Expansion

Berkshire Hathaway’s GEICO insurance plans to open a new campus in Tampa late this summer, bringing more than 1,000 jobs to the area. The property and auto insurer also plans to open an office in the Dallas area by this …

Department of Labor Award Continues Disaster-Relief Jobs for Maui Wildfires

The U.S. Department of Labor is awarding $2.5 million to Hawaii to continue employment and training services and support disaster-relief jobs for people in communities affected by the wildfires that swept across the island of Maui on Aug. 8, 2023. …

People Moves: Aspire Promotes New Leadership; Venbrook Names Hicks Transportation Practice Lead

Aspire Promotes Nicholson, Storms and Storms to New Leadership Roles Aspire General Insurance promoted Tyler Nicholson to the newly created role of chief revenue and distribution officer. Nicholson has more than 20 years of industry experience, joining Aspire in 2016 …

Sugar Executive Charged With Stealing $28 Million From Candy Firm Mars

Before his arrest Wednesday, Paul Steed was a respected sugar market expert for a subsidiary of famed candymaker Mars Inc. He served on a U.S. trade advisory committee for sweeteners as well as on industry group boards, while giving presentations …

Passenger Flight and Air Force Jet Diverted From Potential Collision at DC Airport

A U.S. passenger flight preparing to leave the nation’s capital and an incoming military jet received instructions to divert and prevent a possible collision, officials said. Delta Air Lines Flight 2983 was cleared for takeoff at Ronald Reagan Washington National …

Con Edison to Pay $750,000 to Settle Harassment Allegations

The New York utility provider Con Edison has agreed to pay $750,000 and implement a host of anti-harassment reforms to settle a lawsuit claiming it routinely ignored discrimination complaints brought by female field workers. The settlement, announced Tuesday, comes after …

Oracle Warns Health Customers of Patient Data Breach

Hackers broke into Oracle Corp.’s computer systems and stole patient data in an attempt to extort multiple medical providers in the US, according to a person familiar with the matter and a notification the software company sent to clients. Earlier …

State Farm Has Paid out $2.5 Billion for LA Wildfires

State Farm has reported paying out $2.5 billion for the Los Angeles wildfires in January, more than double what the carrier reported paying out weeks earlier. “As of March 28, we’ve received more than 12,300 total claims related to the …

AM Best Removes Pie Insurance From Review With Negative Implications

AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of The Pie Insurance Company (Columbus, OH) and its pooled affiliate, Pie …

MS&AD Insurance Group Announces Merger of 2 Non-Life Subsidiaries

MS&AD Insurance Group Holdings Inc. announced it will merge two of its non-life insurance company subsidiaries – Mitsui Sumitomo Insurance Co. Ltd. and Aioi Nissay Dowa Insurance Co. Ltd. This merger will establish a non-life insurance company that holds the …

Concerns Raised Over Contamination of Farm Fields With PFAS-Laden Biosolids

What goes down your toilet can end up on farm fields across the United States. Biosolids, or sewage sludge, are the solid byproducts of the wastewater treatment process. Rich in nutrients, they can be used as fertilizer on agricultural fields …

RYZE Claim Solutions Acquires Texas’ Leading Edge

RYZE Claim Solutions, a full-service claims management company, announced the acquisition of Leading Edge Claims Service, a firm based in Southlake, Texas. This strategic move further strengthens RYZE’s position in the industry, reinforcing its long-term vision for the continued expansion …

Weather Service Merges Units as Staffing Pressure Rises

The US National Weather Service will merge two of its largest forecasting units as it prepares for the loss of as many as 1,000 staffers. Employees were encouraged to take early retirements asa handful of consolidations were announced during an …

Texas Investigating Medicaid Insurer Accused of Spying on Citizens

Texas Attorney General Ken Paxton announced Thursday that he has launched an investigation into one of the state’s Medicaid insurance providers after allegations that the company illegally spied on Texans. The state is investigating Superior HealthPlan, an insurance company that …

SEC Beginning to Onboard DOGE Staff, Email Says

The U.S. Securities and Exchange Commission is beginning to onboard officials with billionaire Elon Musk’s Department of Government Efficiency, according to an email sent on Friday to department staff. SEC staff were informed that the DOGE task force had contacted …

Nevada Man Charged in Connection with Violent Tesla Arson in Las Vegas

A Las Vegas resident appeared in U.S. District Court in Las Vegas, Nevada, to face federal charges related to an arson at a Tesla collision business. Paul Hyon Kim, 36, was charged by criminal complaint with one count of unlawful …

15% of WR Berkely Shares to Be Acquired by Mitsui Sumitomo Insurance

W.R. Berkely Corp. said Friday that Japanese property/casualty insurer Mitsui Sumitomo Insurance Co. will buy a 15% stake in the company through open market purchases or private transactions with third parties. W.R. Berkely said the Berkely family will not be …

Myanmar Junta Asks for Aid as Death Toll From Massive Quake Nears 150

Myanmar’s military leader requested international aid on Friday to help deal with the aftermath of a massive earthquake that they said has left at least 144 people dead. The quake on Friday measured 7.7 in magnitude, according to the US …

Rate Reductions Begin to Fade for D&O Buyers: Lockton

Broker Lockton early this week issued its outlook of the mostly buyer-friendly U.S. property/casualty market with eye on potential changes in directors and officers liability. The latest edition of the Lockton Market Update noted public and private D&O insurance buyers …

South Korea Contains Main Blazes in Week-Old Forest Fires

South Korean authorities have contained the main blazes in the country’s largest forest fire on record, a minister said on Friday, as rain and better weather allowed more helicopters to fly and dump water, dousing the flames. Spread by strong …

Italian Fund Managers Add to Uncertainty in Generali Board Tussle

A group of Italian fund managers said on Friday it would put forward four candidates for the new board of Generali, adding to uncertainty over the outcome of a key shareholder vote at the country’s biggest insurer. A shareholder clash …

Arctic Sea Ice Shrinks to Record Winter Low as Earth Heats Up

The Arctic Ocean likely had the smallest winter ice cover in 47 years of satellite records this season, with just 5.53 million square miles of sea ice covering the region at its peak on March 22. That’s 510,000 square miles …

People Moves: Cotton Named COO at Mangrove, Thomas VP at Summit

The recently formed, Florida-based Mangrove Property Insurance Co. has named former Olympus Insurance COO as chief operating officer and elevated four others to management roles at the startup. Tim Cotton, who spent almost four years at Olympus as COO and …

Italy’s No. 2 Insurer Unipol Aims to Boost Bank Distribution Channel

Italian financial group Unipol aims to generate 1 billion euros ($1.1 billion) in capital over the next three years to boost its finances and have money for investments. Unveiling its “Stronger/Faster/Better” plan for 2025-2027, Italy’s second biggest insurer said on …

Consumer Watchdog Seeks to Vacate Discrimination Case it Already Won

The top U.S. consumer finance agency on Wednesday asked a court to undo an enforcement case which the watchdog had already won last year, accusing prior agency officials of abusing their power as they sought to enforce diversity, equity and …

NHTSA Probes More Than 2 Million Hondas Over Engine Restarting Concerns

The National Highway Traffic Safety Administration said on Friday it was opening an engineering analysis into 2.2 million Honda vehicles over concerns related to its engine restarting. Complainants allege the engine fails to restart on its own from a complete …

Study: Economic Uncertainty Diverting Executive Attention From Sustainability

It’s the economy stupid, and it seems that a lot of executives are using their brain power on their current worries rather than on the climate concerns of tomorrow—despite those concerns materializing in the here and now. Executives are focused …