News
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July 18, 2025
Los Angeles Sues Airbnb for Alleged Price Gouging Following Wildfires
Los Angeles sued Airbnb, accusing the home rental company of allowing price gouging affecting at least 2,000 properties during January’s wildfires in Southern California, City Attorney Hydee Feldstein Soto said on Friday. According to a complai...
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July 18, 2025
People Moves: Encova Insurance Names Two New Senior Leadership Team Members; NI Holdings Inc. Names Dawson SVP and CHRO
Encova Insurance Names Two New Senior Leadership Team Members Encova Insurance Executive Vice President and Chief Strategy Officer John Kessler will retire at the end of 2026 after more than 40 years of dedicated service to the company. As part ̷...
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July 18, 2025
Survivors’ Lawyers Allege Decades of Systemic Abuse in Illinois Detention Facilities
Illinois has one of the nation’s worst problems with child sex abuse at juvenile detention centers, attorneys representing more than 900 survivors who have filed lawsuits said Wednesday. Dozens of complaints, including several filed this week i...
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July 18, 2025
Cayman Islands Approves 21 New International Insurance Licenses During H1
The Cayman Islands Monetary Authority (CIMA), which represents the international insurance industry in the British overseas territory, reported that licenses have been approved for 21 new international insurers during the first half of this year. Bet...
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July 18, 2025
Neptune Adds Capacity to Bring Flood Insurance Product Nationwide
Flood insurer Neptune Flood said recently it secured over $400 million in premium capacity and has launched in Alaska to officially become available in all 50 states. Neptune said its capacity panel now includes more than 30 insurance and reinsurance...
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July 18, 2025
Former Tennessee Agent Sentenced For Continuing to Sell Insurance Products
A former Tennessee insurance agent who lost his license in 1999 but continued to sell insurance products has been sentenced to 10 years in prison. Most of that jail time was suspended by a judge. Johnny Ray Jackson, 55, of …...
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July 18, 2025
People Moves: Aon Appoints Key Leaders in EMEA Commercial Risk Team; AXA XL Promotes Wilkinson to Head of International Casualty, Retail, UK & Lloyd’s
This edition of International People Moves details appointments at Aon and AXA XL. A summary of these new hires follows here. Aon Appoints Key Leaders in EMEA Commercial Risk Team Insurance broker Aon plc announced several key leadership appointments...
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July 18, 2025
Trump Nominates Two Lawyers to Seal Republican Control of US Labor Board
President Donald Trump has moved to install a Republican majority at the federal board that hears private-sector labor disputes and oversees union elections, which has been paralyzed by his unprecedented firing of a Democratic member. The White House...
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July 18, 2025
King Risk Adds Equestrian Specialist Agency in South Carolina
King Risk Partners, a national insurance brokerage with home offices in Gainesville, Florida, has acquired Cummings Insurance Agency in Aiken, South Carolina. Cummings, founded in 2014, has specialized in agricultural and equestrian clients, the comp...
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July 18, 2025
Alaska Tsunami Warning Had Residents Scrambling for High Ground After M7.3 Quake
Communities along a 700-mile stretch of Alaska’s southern coast ordered residents to higher ground after a powerful offshore earthquake Wednesday, but officials quickly downgraded and then canceled a tsunami warning for the region. There were n...
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July 18, 2025
AI Models With Systemic Risks Given Pointers on How to Comply With EU AI Rules
The European Commission set out guidelines on Friday to help AI models it has determined have systemic risks and face tougher obligations to mitigate potential threats comply with European Union artificial intelligence regulation (AI Act). The move a...
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July 18, 2025
Jury Awards $100M in Shooting Death of Former Florida State Senator’s Son
A Miami jury this week awarded a former Florida state senator $100 million in a wrongful death lawsuit brought against the condominium complex where her son was shot to death in 2021. Daphne Campbell, who served for eight years in …...
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July 18, 2025
Lightning Strike at New Jersey Archery Range Kills 1, Injures 13
A lightning strike at an archery range in Jackson, New Jersey killed a man and injured 13 others Wednesday evening, according to police. Around 7:15 p.m., police were notified that multiple people were struck by lightning at the Black Knight …...
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July 18, 2025
EU’s New Russia Sanctions Aim for More Effective Oil Price Cap
The European Union on Friday agreed an 18th package of sanctions against Russia over its war in Ukraine, including measures aimed at dealing further blows to the Russian oil and energy industry. The EU will set a moving price cap …...
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July 18, 2025
Tesla Settled Suit Over Autopilot Crash With Truck Crossing Highway
Tesla Inc. settled a high-profile lawsuit over a driver’s death in 2019 when the Autopilot system in his Model 3 allegedly failed to avoid a collision with a tractor-trailer crossing a Florida highway. The confidential settlement, disclosed in ...
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July 18, 2025
Excessive Litigation Causes Surge in Liability Insurance Costs: Marsh McLennan CEO
Excessive litigation and abuse of the U.S. legal system are effectively imposing a tax on the U.S. economy and causing a surge in liability insurance costs, according to John Doyle, president and chief executive officer of Marsh McLennan. “The ...
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July 18, 2025
Trainee’s Death Seen as Part of Pattern of Lapses in Railroad Safety
Federal investigators have reported that the 2023 death of a CSX Transportation train conductor trainee in Baltimore was caused by an unsafe riding position. The National Transportation Safety Board (NTSB) warned that its investigation reveals broade...
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July 18, 2025
Ford Recalls Over 694,000 SUVs After Year-Long Fuel Leak Probe
Ford is recalling 694,271 crossover SUVs in the United States due to a fuel leak issue that could increase the risk of a fire, the U.S. National Highway Traffic Safety Administration said on Wednesday, following a year-long investigation. The NHTSA &...
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July 18, 2025
People Moves: Higginbotham Appoints Reutter to Newly Created CFO, COO Role
Higginbotham, headquartered in Fort Worth, Texas, appointed Andrew Reutter as CFO/COO. Reutter most recently served as a principal at Stone Point Capital, where he built and led the capital markets division and worked closely with insurance services ...
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July 18, 2025
Chinese Hackers Still Trying to Break Into Telecoms Across Globe
A Chinese hacking group has continued to target phone and wireless providers around the world, compromising devices tied to seven telecommunications companies since February, according to a bulletin that a cybersecurity company recently sent to clien...
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July 18, 2025
Former AIG Exec McElroy Faces Sexual Assault Charges in Vermont
Earlier this week, American International Group (AIG) made a splash with the announcement that it had hired former Lloyd’s CEO John Neal to be the new leader of General Insurance, the company’s property/casualty operations. Meanwhile, the...
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July 18, 2025
Waymo Expands in Austin After Tesla Launches Robotaxi Competitor
Waymo is more than doubling its service territory in Austin as the driverless taxi firm looks to fend off competition from Tesla Inc. Through its partnership with ride-hailing giant Uber Technologies Inc., Waymo said Thursday that it will now offer &...
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July 18, 2025
AM Best Revises Outlook to Negative for Texas’ Southern Vanguard
AM Best announced it has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Southern Vanguard Insurance Company, based in...
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July 18, 2025
NHTSA Shedding More Than 25% of Employees
The U.S. auto safety agency is shedding more than 25% of its employees under financial incentive programs to depart the government offered by the Trump administration, according to data provided to Congress seen by Reuters. The National Highway Traff...
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July 18, 2025
China-Linked Hackers Target Taiwan’s Chip Industry With Increasing Attacks: Research
Chinese-linked hackers are targeting the Taiwanese semiconductor industry and investment analysts as part of a string of cyber espionage campaigns, researchers said on Wednesday [July 16]. While hacking to steal data and information about the industr...
