News
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August 15, 2025
Mercury Seeks 6.9% Rate Increase in Filing Based on New Cat Modeling Regulation
Mercury Insurance said it has submitted a filing based on California’s new regulation enabling catastrophe modeling to be included as a factor in ratemaking. The filing is reportedly the first to use the Verisk Wildfire catastrophe model, which...
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August 15, 2025
DOJ Sues California to End Enforcement of Emissions Standards for Trucks
The U.S. Justice Department said on Friday it has sued California in a bid to end the state’s enforcement of emissions standards for trucks. The DOJ said it filed two complaints this week in federal courts against the California Air …...
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August 15, 2025
Banking’s Ailing Climate Coalition Loses Ground in Europe
Inside the world’s largest climate coalition for banks, there’s speculation that an exodus led by Wall Street could be about to spread to the European Union. The Net-Zero Banking Alliance, an organization dedicated to decarbonizing global...
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August 15, 2025
Ohio’s Roehr Insurance Partners With Higginbotham
Higginbotham announced it has partnered with Roehr Insurance, one of the largest property and casualty insurance agencies in Cincinnati, Ohio. The partnership grows Higginbotham’s presence in the Midwest and provides Roehr with expanded resourc...
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August 15, 2025
OpenAI’s Sam Altman Expects to Spend ‘Trillions’ on Infrastructure
OpenAI Chief Executive Officer Sam Altman wants to spend trillions of dollars over time on the infrastructure required to develop and run artificial intelligence services. He just needs to figure out a way to raise that kind of money. “You R...
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August 15, 2025
Texas Economy Slowing Amid Trade Policies and Immigration Crackdown
All signs point to a slowdown of the Texas economy as job growth slows, construction declines and inflation ticks up, according to a Monday report by the Federal Reserve Bank of Dallas. The report on the Fed’s recent Texas Business …...
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August 15, 2025
Texas Students Injured in School Bus Rollover Crash
A Texas school bus carrying more than 40 students on Wednesday rolled over after veering off a rural road on the first day of class, injuring multiple students, authorities said. At least one person has life-threatening injuries, while two others ...
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August 15, 2025
Chicago Launches Flood-Warning System as Rainstorms Intensify
Nedra Sims Fears still remembers the night years ago when her family home in Chicago flooded, sparking an electrical fire. Her father woke her up and rushed her outside into the pouring rain as smoke filled the rooms of their …...
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August 15, 2025
New Mexico Governor Declares State of Emergency in County Afflicted by Crime
The governor of New Mexico declared a state of emergency in response to violent crime and drug trafficking across a swath of northern New Mexico, including two Native American pueblo communities. The emergency declaration by Gov. Michelle Lujan Grish...
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August 15, 2025
Aon Accused of Contributing to Collapse of Startup Vesttoo
Insurance broker Aon Plc was accused in a civil lawsuit of helping cause the collapse of Vesttoo Ltd., an Israeli insurance startup once valued at $1 billion that went bankrupt after disclosing certain documents underpinning its business were falsifi...
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August 15, 2025
Alabama DOI Posts New Data Call on Liability Insurance
The Alabama Department of Insurance wants new data on how liability coverage affects insurance claims costs. In a bulletin posted Thursday, Commissioner Mark Fowler said the department has issued a data call to carriers of personal and commercial aut...
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August 15, 2025
West Virginia Will Finally Study How to Protect Communities After 2016 Floods
Nearly a decade after the deadly 2016 floods, West Virginia officials are moving forward with a study to look at flood mitigation measures across the Kanawha River Basin. Last month, Gov. Patrick Morrisey announced that the state will work with ̷...
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August 15, 2025
Wanted: Tesla Autopilot Operators. $25-$30/Hour. Plus Family-Building.
Are you a “highly motivated self-starter” who wants to drive an “engineering vehicle for extended periods, conducting dynamic audio and camera data collection for testing and training” purposes? This role requires a “hig...
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August 15, 2025
Accenture to Buy Australian Cybersecurity Firm CyberCX for Reported $650 Million
Accenture said on Thursday it will buy Australian cybersecurity firm CyberCX in its largest-ever deal in the sector, with the Australian Financial Review valuing the transaction at more than A$1 billion ($650 million). A wave of devastating cyberatta...
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August 15, 2025
PE Firm B.P. Marsh Invests in New Collateralized Reinsurer to Support Growth of XPT
B.P. Marsh & Partners Plc, the specialist private equity investor, announced it is investing in a new collateralized reinsurer that aims to support growth in its long-time investee company XPT Group, the U.S. wholesale insurance broking and under...
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August 15, 2025
NFL Cannot Force Black Coach’s Racial Claims Into Arbitration, Says Appeals Court
The National Football League cannot force Minnesota Vikings defensive coordinator Brian Flores’ racial bias claims into an arbitration controlled by the league, a federal appeals court ruled on Thursday. In a 3-0 decision, the 2nd U.S. Circuit ...
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August 15, 2025
Toxic Spill at China-Owned Zambian Mine 30 Times Worse Than Estimated
The partial collapse of a waste dam at a Chinese state-owned copper mine in Zambia may have released 30 times more toxic sludge into the environment than previously reported, according to an independent evaluation of the disaster. At least 1.5 …...
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August 15, 2025
Delivery Drones May Soon Take Off With New FAA Rule
Delivery drones are so fast they can zip a pint of ice cream to a customer’s driveway before it melts. Yet the long-promised technology has been slow to take off in the United States. More than six years after the …...
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August 15, 2025
Softening Continues for Most Commercial P/C Lines in Q2, Says CIAB
According to The Council of Insurance Agents & Brokers (CIAB) quarterly survey, commercial property/casualty premiums across all account sizes in the second quarter 2025 rose by 3.7%–down from the average increase of 4.2% from the first three mon...
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August 15, 2025
Third Point’s Dan Loeb Wins Vote to Turn London-Listed Fund Into Reinsurer
Dan Loeb has won a vote to turn his UK investment trust into a life and annuity reinsurance company, defying a fierce backlash from some shareholders. A majority of investors backed a plan for London-listed Third Point Investors to acquire …...
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August 15, 2025
Rising La Niña Odds Point to More Hurricanes in the Atlantic
The world may be about to shift into a La Niña weather pattern, a development that would increase the risk of storms in the Atlantic as the height of hurricane season approaches there. Forecasters at the US Climate Prediction Center …...
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August 15, 2025
Florida Peninsula Files for 8.4% Cut in HO Rates, 12% Drop in Condo Owners’
Florida Peninsula Insurance Co., the ninth-largest property insurance carrier in the state with some 189,000 policies in force, announced it had filed for some of the largest rate decreases since landmark legislative changes were enacted two years ag...
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August 15, 2025
Son Cashed Mom’s Workers’ Compensation Checks After She Died
A Port Jervis, New York man recently entered a guilty plea to charges he collected more than $42,000 in workers’ compensation benefits issued to his deceased mother. New York State Inspector General Lucy Lang announced the July 31 guilty plea &...
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August 15, 2025
Brightstone Specialty Acquires RMS Hospitality and Fortis Risk
Michigan-based Brightstone Specialty Group announced its acquisition of RMS Hospitality Group and its affiliated claims firm, Fortis Risk Solutions, from RMS Insurance Brokerage, LLC. The acquisitions expand Brightstone’s presence in the franch...
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August 15, 2025
Philadelphia Police Officer Wins Delayed Workers’ Compensation Claim for PTSD
A Philadelphia police officer who was severely beaten by a robbery suspect in 2017 has won his right to add a psychological injury to his already settled workers’ compensation claim for physical injuries suffered in the incident. The officer...
