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RegEd Launches Compliance Platform for Investment Advisers

IIR

The new system automates oversight and regulatory workflows for RIAs.

Posted: May 21, 2025

Manulife Outlines Responsible AI Use at Industry Summit

IIR

The company shared its ethical AI framework and deployment strategy at the Reuters Momentum AI Summit.

Posted: May 21, 2025

Big ‘I’ Secures Important Wins as House Passes Tax Package

IA Magazine

The bill makes permanent and increases the 199A deduction for pass-through entities from 20% to 23%, which is a huge win for many independent insurance agencies.

Posted: May 21, 2025

How Volunteer Opportunities Can Relieve Employee Burnout

IA Magazine

Embedding volunteering and donating into your company culture provides multiple touchpoints throughout the year to energize employees and live your values.

Posted: May 21, 2025

State Farm Still Wants a 30% Rate Increase in California

Insurance Journal

State Farm isn’t done seeking a rate increase in California, upping its request a week after getting the OK for a large rate hike to what the company had originally wanted before being rejected and agreeing to an interim deal …

Posted: May 21, 2025

Nearmap Acquiring itel to Add to Property Intelligence, Underwriting and Claims Services

Carrier Management

Nearmap Acquiring itel to Add to Property Intelligence, Underwriting and Claims Serv...

Posted: May 21, 2025

APCIA: Record Shows ‘Minimal Complaints’ on Hurricane Milton, Helene Claims

Carrier Management

APCIA: Record Shows ‘Minimal Complaints’ on Hurricane Milton, Helene Claims The American Property Casua...

Posted: May 21, 2025

No NOAA Large-Disaster Data to Hurt Insurers’ Grasp of Secondary Perils, Says AM Best

Carrier Management

No NOAA Large-Disaster Data to Hurt Insurers’ Grasp of Secondary Perils, Says AM Best...

Posted: May 21, 2025

Brooklyn Bridge Ship Crashes Happening for Nearly 150 Years

Carrier Management

Brooklyn Bridge Ship Crashes Happening for Nearly 150 Years A Mexican navy tall ship's fatal collision...

Posted: May 21, 2025

Hot Weather, High Demand to Pressure US Power Grid This Summer

Carrier Management

Hot Weather, High Demand to Pressure US Power Grid This Summer Projected searing te...

Posted: May 21, 2025

Inflation Impacting Workers Comp Medical Costs: WCRI

Carrier Management

Inflation Impacting Workers Comp Medical Costs: WCRI A n...

Posted: May 21, 2025

Shortage of Overnight Truck Parking Blamed for 2023 Fatal Greyhound Bus Crash in Illinois

Insurance Journal

Overnight parking for long-haul truckers at interstate rest stops is critically short and was a key contributor to a 2023 Greyhound bus crash in Illinois that killed three people, federal regulators said Tuesday. The National Transportation Safety Bo...

Posted: May 21, 2025

Shortage of Overnight Truck Parking Blamed for 2023 Fatal Bus Crash in Illinois

Insurance Journal

Overnight parking for long-haul truckers at interstate rest stops is critically short and was a key contributor to a 2023 Greyhound bus crash in Illinois that killed three people, federal regulators said Tuesday. The National Transportation Safety Bo...

Posted: May 21, 2025

Austin, Texas Bar to Pay $42K Over Pregnancy Discrimination Lawsuit

Insurance Journal

Corner Bar, which operates on South Lamar Boulevard in Austin, Texas, will pay $42,000 and provide other equitable relief to settle a pregnancy discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agenc...

Posted: May 21, 2025

Austin Bar to Pay $42K Over Pregnancy Discrimination Lawsuit

Insurance Journal

Corner Bar, which operates on South Lamar Boulevard in Austin, Texas, will pay $42,000 and provide other equitable relief to settle a pregnancy discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agenc...

Posted: May 21, 2025

Balancing Artificial Intelligence and the Human Touch in Workers’ Compensation Claims

Risk & Insurance

Applying artificial intelligence technology should not be intended to replace the human expertise in the worker’s compensation claims experience. The post

Posted: May 21, 2025

First MainStreet Adds 2 Midwest Agencies

Insurance Journal

First MainStreet Insurance (FMSI), a division of TrueNorth Companies, announced the continued expansion of its platform with two new strategic partnerships and a notable merger, marking a dynamic start to 2025. Effective May 1, 2025, FMSI has partner...

Posted: May 21, 2025

People Moves: CIS Promotes Gardea, Jr., Adds Felder to Leadership Team

Insurance Journal

Construction insurance Services (CIS), an MGA/MGU based in Dallas focused on the construction industry in all 50 states, announced a promotion and addition to its leadership team. CIS is a subsidiary of the Curley Financial Group based in Dallas. Hec...

Posted: May 21, 2025

TransRe calls for urgent and substantial D&O price increases amid unprofitable market conditions

Reinsurance News

Reinsurer TransRe is urging immediate and material increases in US Public Directors & Officers (D&O) insurance pricing, warning that the current market remains unsustainable. In a recent market update, TransRe states that the D&O secto...

Posted: May 21, 2025

M&S estimates £300m hit to operating profit from recent cyberattack

Reinsurance News

Large British retailer Marks & Spencer (M&S) has disclosed that the recent cyber attack is estimated to impact Group operating profit by approximately £300 million for 2025/26. As a reminder, on 22 April 2025, M&S announced it was resp...

Posted: May 21, 2025

Mixed Signals: Q1 2025 Recall Report Shows Dramatic Variations Across Industries

Risk & Insurance

Policy changes create uncertainty as consumer products and pharmaceutical recalls climb while automotive sector finds relief, Sedgwick reports. The post

Posted: May 21, 2025

EU to Propose Removing Business Barriers to Enhance Competitiveness Amid US Tariffs

Insurance Journal

The European Commission set out plans on Wednesday to remove barriers to business within the European Union as part of a push to boost competitiveness and counteract the impact of U.S. tariffs. The International Monetary Fund has estimated that inter...

Posted: May 21, 2025

Reinsurance capacity growth supports Philippine’s non-life insurance stable outlook: AM Best

Reinsurance News

Credit rating Agency AM Best has maintained a stable outlook on the Philippine non-life insurance market, citing growth factors and steady increase in the availability of reinsurance capacity in the country, which is expected to mitigate catastrop...

Posted: May 21, 2025

Former Progressive CEO Renwick, 69, Dies

Insurance Journal

The Progressive Corp. published a statement that the company mourned the loss of its former chief executive officer and chairman, Glenn Renwick. According to the statement, Renwick passed away on Friday, May 16 at the age of 69. “Glenn’s...

Posted: May 21, 2025

Munich Re Ventures closes $125m fund from HSB

Reinsurance News

After a decade of investing in companies at the intersection of risk and technology, Munich Re Ventures (MRV), the venture capital arm of Munich Re Group, has closed its fifth fund of $125 million from its founding limited partner, HSB. The fundin...

Posted: May 21, 2025

Hack of Contractor Was at Root of Massive Federal Data Breach

Insurance Journal

A software company that handles sensitive data for nearly every US federal agency was the victim of a cyber breach earlier this year due to a “major lapse” in security measures, according to documents reviewed by Bloomberg News. Opexus, w...

Posted: May 21, 2025

US cyber insurance market remains profitable amid slower growth in 2024: Fitch

Reinsurance News

Fitch Ratings, a provider of credit ratings, commentary, and research, reports that the US cyber insurance market continued to deliver strong underwriting profits in 2024, even as the pace of premium growth began to slow. According to Fitch Rating...

Posted: May 21, 2025

Acrisure Secures $2.1 Billion Funding Round for M&A, Tech

Insurance Journal

Acrisure said it has entered into a definitive agreement for the issuance of new convertible senior preferred stock in a $2.1 billion capital raise led by Bain Capital. Acrisure said the company’s valuation stands at $32 billion—a nearly 40% in...

Posted: May 21, 2025

Sproutr secures Altai Ventures-led seed funding to fuel growth

Reinsurance News

Sproutr, a boutique insurance product design and build firm, has raised an undisclosed amount in seed funding that will be used to accelerate the execution of its technology roadmap and scale its growing team. The seed round was led by Altai Ventu...

Posted: May 21, 2025

People Moves: World Insurance Associates Names Youshock Head of Personal Lines; Belair Appointed Pre...

Insurance Journal

World Insurance Associates Names Youshock Head of Personal Lines World Insurance Associates LLC, headquartered in Iselin, New Jersey, named Michelle Youshock head of personal lines, replacing Jim Hickey, who is taking over carrier consolidation effor...

Posted: May 21, 2025

New Salmonella Outbreak Tied to Same Florida Grower With Cucumbers Last Year

Insurance Journal

U.S. health officials are investigating a new outbreak of salmonella illnesses tied to a Florida grower whose tainted cucumbers were linked to more than 550 illnesses last year. Cucumbers grown by Florida-based Bedner Growers and distributed by Fresh...

Posted: May 21, 2025

Global Forest Loss Tops Record as Wildfires Drive Destruction

Insurance Journal

Global loss of tropical and boreal forests surged to a record high last year as unprecedented temperatures fueled fires, releasing more than four times the emissions of all air travel in 2023. That’s according to the latest annual assessment by...

Posted: May 21, 2025

Japan’s Zenkyoren & Germany’s SV secure $100m in quake reinsurance from cat bond

Reinsurance News

German insurer SV SparkassenVersicherung (SV) has entered the catastrophe bond market with the successful completion of its debut cat bond, Liongate Re, securing $100 million in fully collateralized reinsurance, in collaboration with Japanese mutu...

Posted: May 21, 2025

DoorDash Expands Driver Savings Pilot Program to Maryland

Insurance Journal

DoorDash said it is expanding its benefits savings program with a new pilot in Maryland for eligible drivers. Expenses covered under this program can include retirement savings, health, dental, and vision insurance, and paid time off. DoorDash said s...

Posted: May 21, 2025

MSIG USA names Kent Ziegler as CFO & Chief Administrative Officer

Reinsurance News

MSIG USA, an insurance subsidiary under MSIG Holdings, has appointed Kent Ziegler as Chief Financial Officer (CFO) and Chief Administrative Officer, reporting to Chief Executive Officer, Peter McKenna. Ziegler takes on oversight of all aspects of...

Posted: May 21, 2025

Chevron Says One Missing After Fire at Angola Offshore Oil Platform With 17 Injured

Insurance Journal

Chevron’s Angolan business said on Wednesday that there was one person missing after an early morning fire at its Benguela Belize Lobito Tomboco (BBLT) offshore oil platform on Tuesday. Seventeen people were injured, four seriously, when the fi...

Posted: May 21, 2025

Amazon’s Zoox Expands Robotaxi Trials to Rival Turf in Atlanta

Insurance Journal

Amazon.com Inc.’s Zoox is expanding testing of its autonomous driving technology to Atlanta, moving in on a market where Alphabet Inc.’s Waymo is expanding with Uber Technologies Inc. Zoox has already deployed a small number of test vehic...

Posted: May 21, 2025

Hacker of App Used by Trump Aide Stole Data From Across Government

Insurance Journal

A hacker who breached the communications service used by former Trump national security adviser Mike Waltz earlier this month intercepted messages from a broader swathe of American officials than has previously been reported, according to a Reuters r...

Posted: May 21, 2025

Resolution Life closes block reinsurance transaction with Anshin Life in Japan

Reinsurance News

Global life insurance group Resolution Life has entered into a reinsurance agreement with Tokio Marine & Nichido Life Insurance Co. Ltd. (Anshin Life), a domestic life insurance subsidiary of Tokio Marine Holdings, its first block transaction...

Posted: May 21, 2025

Judge Rejects Vanguard $40 Million Mutual Fund Settlement, Cites SEC Accord

Insurance Journal

A federal judge on Monday rejected Vanguard Group’s $40 million settlement with investors who claimed the mutual fund giant stuck them with inflated tax bills in its popular target-date funds. U.S. District Judge John Murphy in Philadelphia sai...

Posted: May 21, 2025

David Kimmel joins Converge Insurance as CFO

Reinsurance News

Converge Insurance, a company specialising in cyber risk management and underwriting, has announced the appointment of David Kimmel as its new Chief Financial Officer. Kimmel is joining the company with over 35 years of experience across insurance...

Posted: May 21, 2025

FAA Cuts Newark Flights After Air Traffic Control Issues

Insurance Journal

US aviation safety regulators will allow fewer flights at Newark airport after technology outages and a staffing crunch fueled a surge in delays and cancellations in recent weeks. The US Federal Aviation Administration said it will permit a maximum o...

Posted: May 21, 2025

Boost Prices or Retreat? How Carriers Improved Homeowners Books in 2024

Insurance Journal

Direct written premiums in the U.S. homeowners insurance market rose more than 13 percent in 2024, and the net combined ratio for the line fell below breakeven for the first time in five years. Higher prices explained much of the …

Posted: May 21, 2025