AIG Q1 Underwriting Income More Than Halved on Wildfire Losses
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Description: First quarter underwriting income in AIG’s General Insurance segment dropped 59% compared to last year, to $243 million. The unit—North America commercial, International commercial, and global personal—recorded $525 million in catastrophe-related charges in Q1 2025, compared to $106 million for …
Full content: First quarter underwriting income in AIG’s General Insurance segment dropped 59% compared to last year, to $243 million. The unit—North America commercial, International commercial, and global personal—recorded $525 million in catastrophe-related charges in Q1 2025, compared to $106 million for …
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Category: National News
Date: Thu, 01 May 2025 20:30:10 +0000
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California’s Ban on Gasoline Cars Is Overturned by US House Vote
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Description: Republicans moved a step closer Thursday to repealing a federal waiver allowing California to ban gasoline-powered cars by 2035, a policy that had drawn opposition from automakers, fuel producers and President Donald Trump himself. The U.S. House voted 246-164 to …
Full content: Republicans moved a step closer Thursday to repealing a federal waiver allowing California to ban gasoline-powered cars by 2035, a policy that had drawn opposition from automakers, fuel producers and President Donald Trump himself. The U.S. House voted 246-164 to …
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Category: West News
Date: Thu, 01 May 2025 17:30:01 +0000
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Trump Administration Sues Michigan to Halt State’s Fossil Fuel Lawsuit Plan
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Description: The Trump administration sued Michigan and Hawaii seeking to block the states from suing oil companies for damage caused by climate change, less than two months after the US Supreme Court rebuffed a Republican bid to derail such legal efforts. …
Full content: The Trump administration sued Michigan and Hawaii seeking to block the states from suing oil companies for damage caused by climate change, less than two months after the US Supreme Court rebuffed a Republican bid to derail such legal efforts. …
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Category: Midwest News
Date: Thu, 01 May 2025 16:31:48 +0000
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Ohio Eatery to Pay $125K Over Race Discrimination Lawsuit
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Description: Bennett Enterprises Inc., doing business as Ralphie’s Sports Eatery Company, will pay $125,000 and provide other relief to settle a race, disability and retaliation discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. According …
Full content: Bennett Enterprises Inc., doing business as Ralphie’s Sports Eatery Company, will pay $125,000 and provide other relief to settle a race, disability and retaliation discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. According …
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Category: Midwest News
Date: Thu, 01 May 2025 16:25:05 +0000
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Fired State Employees Breached the Personal Data of 33K More Texans
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Description: Texas Health and Human Services Commission late Wednesday began notifying another 33,529 recipients of state benefits that their private information had been improperly accessed. The latest announcement comes as the state agency continues to investigate a series of breaches by …
Full content: Texas Health and Human Services Commission late Wednesday began notifying another 33,529 recipients of state benefits that their private information had been improperly accessed. The latest announcement comes as the state agency continues to investigate a series of breaches by …
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Category: Texas / South Central News
Date: Thu, 01 May 2025 16:22:15 +0000
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Why the Green Hydrogen Industry Is Flocking to Texas
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Description: Despite federal policy uncertainty stunting growth prospects, US clean hydrogen industry leaders at the BloombergNEF summit see one bright spot: Texas. President Donald Trump’s tariffs are impacting the industry as are the murky fate of federal tax credits and the …
Full content: Despite federal policy uncertainty stunting growth prospects, US clean hydrogen industry leaders at the BloombergNEF summit see one bright spot: Texas. President Donald Trump’s tariffs are impacting the industry as are the murky fate of federal tax credits and the …
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Category: Texas / South Central News
Date: Thu, 01 May 2025 16:16:39 +0000
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Southern Specialty Rebrands, Names Roberts President
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Description: Southern Specialty Underwriters, with offices in Tampa and in Macon, Georgia, said it has rebranded to Arbour Specialty, an insurance broker in the Southeast. The company also named Rebecca Roberts as its new president. Roberts has 30 years in the …
Full content: Southern Specialty Underwriters, with offices in Tampa and in Macon, Georgia, said it has rebranded to Arbour Specialty, an insurance broker in the Southeast. The company also named Rebecca Roberts as its new president. Roberts has 30 years in the …
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Category: Southeast News
Date: Thu, 01 May 2025 15:27:00 +0000
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Judge Says Local Police Must Halt Enforcement of Florida Immigration Law
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Description: MIAMI (AP) — A federal judge told attorneys for the state of Florida on Tuesday that an order freezing the enforcement of a new state immigration law absolutely applies to all of the state’s local law enforcement agencies, despite a …
Full content: MIAMI (AP) — A federal judge told attorneys for the state of Florida on Tuesday that an order freezing the enforcement of a new state immigration law absolutely applies to all of the state’s local law enforcement agencies, despite a …
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Category: Southeast News
Date: Thu, 01 May 2025 15:06:35 +0000
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Florida Set to Be 2nd State to Ban Fluoride from Public Water Systems
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Description: TALLAHASSEE, Fla. (AP) — Florida is poised to become the second state to ban fluoride in public drinking water, overriding the concerns of dentists and public health advocates who say the mineral is a safe, effective way to protect people …
Full content: TALLAHASSEE, Fla. (AP) — Florida is poised to become the second state to ban fluoride in public drinking water, overriding the concerns of dentists and public health advocates who say the mineral is a safe, effective way to protect people …
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Category: Southeast News
Date: Thu, 01 May 2025 14:53:00 +0000
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People Moves: SmartChoice Chooses Caldwell as CEO; Griffin Promoted to Zurich US Head of Multinational Underwriting; Burns & Wilcox Names New York, Chicago Leaders
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Description: SmartChoice Names Caldwell CEO Smart Choice, headquartered in Greensboro, North Carolina, restructured its executive leadership, naming Andrew Caldwell as CEO, while founder Doug Witcher has transitioned to the chairman of the board role. For the past decade, Caldwell has served …
Full content: SmartChoice Names Caldwell CEO Smart Choice, headquartered in Greensboro, North Carolina, restructured its executive leadership, naming Andrew Caldwell as CEO, while founder Doug Witcher has transitioned to the chairman of the board role. For the past decade, Caldwell has served …
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Category: National News
Date: Thu, 01 May 2025 14:45:18 +0000
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The Hanover Reports 11% Growth in Q1 Net Income
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Description: First quarter net income for The Hanover Group grew to $128.2 million compared to $115.5 million during the same period a year ago. The Worcester, Massachusetts-based insurer’s Q1 combined ratio was 94.1, and improvement over 95.5 a year ago during …
Full content: First quarter net income for The Hanover Group grew to $128.2 million compared to $115.5 million during the same period a year ago. The Worcester, Massachusetts-based insurer’s Q1 combined ratio was 94.1, and improvement over 95.5 a year ago during …
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Category: National News
Date: Thu, 01 May 2025 14:35:15 +0000
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Attorney Fee Amendment Shot Down by Florida Senate; Condo Relief Bill Passes
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Description: Florida’s Senate late Wednesday refused to go along with a prevailing-party attorney-fee amendment to a phosphate mine bill, likely leaving it dead for 2025 as the legislative session nears the end. The amendment to Senate Bill 832, approved by the …
Full content: Florida’s Senate late Wednesday refused to go along with a prevailing-party attorney-fee amendment to a phosphate mine bill, likely leaving it dead for 2025 as the legislative session nears the end. The amendment to Senate Bill 832, approved by the …
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Category: Southeast News
Date: Thu, 01 May 2025 14:31:25 +0000
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Markets/Coverages: Coalition Launches Cyber Insurance for Businesses in Nordic Region
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Description: Coalition, the San Francisco-based cyber managing general agent and cybersecurity firm, announced the launch of its Active Cyber Insurance product in the Nordic region. Coalition’s offerings are available in Denmark as of May 1, 2025, and will become available in …
Full content: Coalition, the San Francisco-based cyber managing general agent and cybersecurity firm, announced the launch of its Active Cyber Insurance product in the Nordic region. Coalition’s offerings are available in Denmark as of May 1, 2025, and will become available in …
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Category: International & Reinsurance News
Date: Thu, 01 May 2025 14:09:39 +0000
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LA Fire Investigation Will Take a Year or More, Edison CEO Says
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Description: The probe into the deadly Southern California Eaton fire is likely to take a year or more as authorities examine Edison International’s utility equipment as the possible cause, according to the company’s chief executive officer. Edison, meanwhile, is conducting its …
Full content: The probe into the deadly Southern California Eaton fire is likely to take a year or more as authorities examine Edison International’s utility equipment as the possible cause, according to the company’s chief executive officer. Edison, meanwhile, is conducting its …
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Category: West News
Date: Thu, 01 May 2025 13:56:03 +0000
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Business Moves: CRC Group Acquires ARC in E&S Deal
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Description: Independent insurance wholesaler CRC Group said it has acquired specialty wholesale distributor ARC Excess & Surplus. Terms were not disclosed. ARC was founded in 1986 by Chris Cavallaro as a boutique management and professional liability wholesale broker, and then later …
Full content: Independent insurance wholesaler CRC Group said it has acquired specialty wholesale distributor ARC Excess & Surplus. Terms were not disclosed. ARC was founded in 1986 by Chris Cavallaro as a boutique management and professional liability wholesale broker, and then later …
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Category: National News
Date: Thu, 01 May 2025 13:45:26 +0000
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Arthur J. Gallagher & Co. Acquires New Zealand’s First Capital Financial Services
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Description: Arthur J. Gallagher & Co. announced the acquisition of New Zealand-based First Capital Financial Services and its affiliate First Capital Wealth Management. Terms of the transaction were not disclosed. First Capital is a financial advisory firm providing wealth management, risk …
Full content: Arthur J. Gallagher & Co. announced the acquisition of New Zealand-based First Capital Financial Services and its affiliate First Capital Wealth Management. Terms of the transaction were not disclosed. First Capital is a financial advisory firm providing wealth management, risk …
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Category: International & Reinsurance News
Date: Thu, 01 May 2025 13:27:06 +0000
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Severe Storms Take 4 Lives, Cause Power Outages, Close Roads in Pennsylvania
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Description: Officials and first responders in Pennsylvanians are assessing and cleaning up the damage caused after severe storms swept across western and central parts of the state Tuesday.. Officials reported four deaths linked to the severe weather. The National Weather Service …
Full content: Officials and first responders in Pennsylvanians are assessing and cleaning up the damage caused after severe storms swept across western and central parts of the state Tuesday.. Officials reported four deaths linked to the severe weather. The National Weather Service …
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Category: East News
Date: Thu, 01 May 2025 13:01:43 +0000
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Scientists Tally Oil Majors’ Climate Damage With Eye to Legal Liability
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Description: Over the last decade, scientists have rapidly developed the field of climate attribution research, teasing out the role played by global warming in individual natural disasters. Meanwhile, their ways of tracking a single emitter’s influence on temperature or sea-level rise …
Full content: Over the last decade, scientists have rapidly developed the field of climate attribution research, teasing out the role played by global warming in individual natural disasters. Meanwhile, their ways of tracking a single emitter’s influence on temperature or sea-level rise …
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Category: International & Reinsurance News
Date: Thu, 01 May 2025 12:06:43 +0000
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Court Questions NJ Diocese’s Bid to Block Grand Jury on Clergy Sex Abuse
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Description: Members of New Jersey’s Supreme Court sounded skeptical at times Monday about the effort of a Catholic diocese to stop the state from empaneling a grand jury to investigate clergy sexual abuse allegations. The high court is considering the state …
Full content: Members of New Jersey’s Supreme Court sounded skeptical at times Monday about the effort of a Catholic diocese to stop the state from empaneling a grand jury to investigate clergy sexual abuse allegations. The high court is considering the state …
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Category: East News
Date: Thu, 01 May 2025 11:48:29 +0000
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Chinese Hacking Competitions Fuel the Country’s Broad Cyber Ambitions
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Description: Dustin Childs can still describe the best demonstration of a winning hack at an international tournament he’s ever seen. It happened almost a decade ago. The participants had to find a way to break into a Windows workstation that was …
Full content: Dustin Childs can still describe the best demonstration of a winning hack at an international tournament he’s ever seen. It happened almost a decade ago. The participants had to find a way to break into a Windows workstation that was …
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Category: International & Reinsurance News
Date: Thu, 01 May 2025 11:32:04 +0000
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Viewpoint: Regulatory Proposals in Australia, Malaysia Reshape Reinsurance Strategies
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Description: The regulatory landscape in the Asia-Pacific region is rapidly evolving, influencing insurers’ risk management and capital adequacy. Australia and Malaysia are two examples of markets where recent regulatory developments are likely to influence the use of reinsurance, in particular. Regulators …
Full content: The regulatory landscape in the Asia-Pacific region is rapidly evolving, influencing insurers’ risk management and capital adequacy. Australia and Malaysia are two examples of markets where recent regulatory developments are likely to influence the use of reinsurance, in particular. Regulators …
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Category: International & Reinsurance News
Date: Thu, 01 May 2025 05:05:44 +0000
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Countries Shore Up Digital Defenses as Global Tensions Raise Cyberwarfare Threat
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Description: Hackers linked to Russia’s government launched a cyberattack last spring against municipal water plants in rural Texas. At one plant in Muleshoe, population 5,000, water began to overflow. Officials had to unplug the system and run the plant manually. The …
Full content: Hackers linked to Russia’s government launched a cyberattack last spring against municipal water plants in rural Texas. At one plant in Muleshoe, population 5,000, water began to overflow. Officials had to unplug the system and run the plant manually. The …
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Category: National News
Date: Thu, 01 May 2025 05:05:30 +0000
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Buyer’s Remorse Hits Finance Bosses Who ‘Overhired’ for ESG
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Description: There’s a course-correction underway among financial firms that went all out on ESG hiring just a few years back, according to recruiters advising banks and money managers. Firms have had to acknowledge that the goal of generating the highest profits …
Full content: There’s a course-correction underway among financial firms that went all out on ESG hiring just a few years back, according to recruiters advising banks and money managers. Firms have had to acknowledge that the goal of generating the highest profits …
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Category: International & Reinsurance News
Date: Thu, 01 May 2025 05:00:53 +0000
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AM Best Revises Credit Rating Outlook to Negative for NJM Insurance Group
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Description: Ratings agency AM Best has revised the outlook to negative from stable for the members of the NJM Insurance Group (NJM) for the Long-Term Issuer Credit Ratings and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term …
Full content: Ratings agency AM Best has revised the outlook to negative from stable for the members of the NJM Insurance Group (NJM) for the Long-Term Issuer Credit Ratings and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term …
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Category: East News
Date: Thu, 01 May 2025 05:00:07 +0000
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California Workers’ Comp Bureau Submits Higher 2025 Pure Premium Rate Filing
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Description: The Workers’ Compensation Insurance Rating Bureau of California submitted a September 1, 2025 pure premium rate filing, proposing advisory pure premium rates on average 11.2% above the average approved September 1, 2024 advisory pure premium rates. The average of the …
Full content: The Workers’ Compensation Insurance Rating Bureau of California submitted a September 1, 2025 pure premium rate filing, proposing advisory pure premium rates on average 11.2% above the average approved September 1, 2024 advisory pure premium rates. The average of the …
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Category: West News
Date: Thu, 01 May 2025 05:00:07 +0000
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Allstate Q1 Income Drops 52% on Record $3.3B Gross Catastrophe Losses
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Description: Allstate Corp. first quarter 2025 net income applicable to common shareholders fell more than 52% to $566 million primarily due to a record $3.3 billion of gross catastrophe losses. The gross loss was partially offset by $1.1 billion of reinsurance …
Full content: Allstate Corp. first quarter 2025 net income applicable to common shareholders fell more than 52% to $566 million primarily due to a record $3.3 billion of gross catastrophe losses. The gross loss was partially offset by $1.1 billion of reinsurance …
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Category: National News
Date: Thu, 01 May 2025 04:03:57 +0000
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LA County Approves $4B Payout to Settle Sexual Abuse Claims at Juvenile Facilities
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Description: Los Angeles County officials this week approved a $4 billion payout to settle nearly 7,000 claims of sexual abuse in juvenile facilities since 1959. The agreement reached on April 4 far surpasses a $2.6 billion settlement reached in 2022 with …
Full content: Los Angeles County officials this week approved a $4 billion payout to settle nearly 7,000 claims of sexual abuse in juvenile facilities since 1959. The agreement reached on April 4 far surpasses a $2.6 billion settlement reached in 2022 with …
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Category: West News
Date: Wed, 30 Apr 2025 21:29:43 +0000
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Bill to Address California Wildfire And Insurance Crises Moving Through Legislature
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Description: A California Assembly committee advanced a bill designed to deal with the state’s wildfire and insurance crises. The California Safe Homes Act, Assembly Bill 888, passed out of the Assembly Insurance Committee on a unanimous vote. Related: Forecast Calls for …
Full content: A California Assembly committee advanced a bill designed to deal with the state’s wildfire and insurance crises. The California Safe Homes Act, Assembly Bill 888, passed out of the Assembly Insurance Committee on a unanimous vote. Related: Forecast Calls for …
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Category: West News
Date: Wed, 30 Apr 2025 20:41:58 +0000
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Strengthen Oklahoma Homes Program to Hold Second Pilot Launch
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Description: The Oklahoma Insurance Department is preparing for a second pilot launch of the Strengthen Oklahoma Homes Program, which provides up to $10,000 to residents to upgrade their homes to the IBHS Fortified standard. Applicants who are eligible and live in …
Full content: The Oklahoma Insurance Department is preparing for a second pilot launch of the Strengthen Oklahoma Homes Program, which provides up to $10,000 to residents to upgrade their homes to the IBHS Fortified standard. Applicants who are eligible and live in …
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Category: Texas / South Central News
Date: Wed, 30 Apr 2025 16:49:14 +0000
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AM Best Revises Outlook to Negative for Missouri Valley Mutual Insurance Company
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Description: AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Missouri Valley Mutual Insurance Company (MVMIC) based in Burke, South Dakota. …
Full content: AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Missouri Valley Mutual Insurance Company (MVMIC) based in Burke, South Dakota. …
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Category: Midwest News
Date: Wed, 30 Apr 2025 16:24:43 +0000
Local date: Wed, 30 Apr 2025 16:24:43 +0000
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