Insurance Journal
AM Best has revised its outlook to stable from negative for the U.S. personal lines insurance segment for 2025, citing improved rate and pricing conditions, particularly in the auto insurance space, along with solid levels of risk-adjusted capitaliza...
Posted: Dec 02, 2024
Rockford Mutual Insurance Company (RMIC) announced a strategic expansion into the state of Michigan for Commercial Lines products in 2025. This decision is part of the company’s ongoing efforts to diversify its portfolio and spread risk across...
Posted: Dec 02, 2024
The U.S. Energy Department said Monday it is planning to loan up to $7.54 billion to a joint venture of Chrysler parent Stellantis STLAM.MI and Samsung SDI 006400.KS to help build two electric vehicle lithium-ion battery plants in Indiana. The …...
Posted: Dec 02, 2024
Oil and gas producers in the US will not raise output significantly in the coming years despite calls from President-Elect Donald Trump to “drill, baby, drill,” said Exxon Mobil Corp.’s Upstream President Liam Mallon. “I think...
Posted: Dec 02, 2024
A North Carolina woman is set for a court appearance later this month after she was charged with filing a claim on her deceased mom’s house – for damage that occurred before the insurance policy was purchased. Cindy Ramzi Hanna, …
Posted: Dec 02, 2024
AM Best is maintaining its stable market segment outlook on the U.S. commercial lines insurance sector for 2025, due partly to its persistently strong underwriting performance and improved investment returns, which have bolstered operating profitabil...
Posted: Dec 02, 2024
AM Best is maintaining its stable market segment outlook on the U.S. commercial lines insurance sector for 2025, due partly to the segment’s persistently strong underwriting performance and improved investment returns, which have bolstered oper...
Posted: Dec 02, 2024
Rebecca McCabe, with Aon since 2015, has been named Carolinas market leader, based in Charlotte. McCabe has recently served as interim market leader and sales director at Aon, and now replaces Kathleen Lynch, who left Aon earlier this year, according...
Posted: Dec 02, 2024
Jurors in New Mexico have awarded a man more than $412 million in a medical malpractice case that involved a men’s health clinic that operates in several states. The man’s attorneys celebrated last week’s verdict, saying they are ho...
Posted: Dec 02, 2024
The governors of New York and Pennsylvania have declared disaster emergencies in areas hit with as much as three and four feet of “lake-effect” snow from a fierce winter storm. New York Governor Hochul declared a state of emergency for &#...
Posted: Dec 02, 2024
Suspicious behavior on T-Mobile US Inc.’s network devices tipped off the company to a breach that was potentially part of a sprawling cyber-espionage campaign that has raised urgent questions about the exposure of a critical sector of the econo...
Posted: Dec 02, 2024
The Connecticut city of West Haven said it is being reimbursed more than $1 million from its insurer to cover the cost of federal pandemic relief funds stolen three years ago by two city employees. Then-state Rep. Michael DiMassa and …
Posted: Dec 02, 2024
The province of British Columbia can bring a class action lawsuit against pharmaceutical companies for opioid harms on behalf of multiple governments across Canada, the country’s Supreme Court ruled on Friday. In 2018, BC sued more than 40 drug...
Posted: Dec 02, 2024
This post is part of a series sponsored by Old Republic Surety. Dan Pope, Senior Vice President of Underwriting at Old Republic Surety, learned a lesson as a young surety rep about the most important numbers at a client’s business. …
Posted: Dec 02, 2024
Arthur J. Gallagher & Co. announced that its claims and risk management solutions subsidiary, Gallagher Bassett, has acquired the UK-based operations of Caytons Law LLP. Terms of the transaction were not disclosed. Caytons is a claims and legal m...
Posted: Dec 02, 2024
China’s ByteDance is suing a former intern for $1.1 million, alleging he deliberately attacked its artificial intelligence large language model training infrastructure, a case that has drawn widespread attention within China amid a heated AI ra...
Posted: Dec 02, 2024
The United Nations’ top court [this] week begins hearings on the legal obligation of countries to fight climate change and the consequences for states of contributing to global warming, the outcome of which could influence litigation worldwide....
Posted: Dec 02, 2024
Private equity’s advance into the insurance sector exacerbates the risk of “fire sales” that disrupt the functioning of financial markets, the Bank of England warned. A growing number of PE firms in the US have acquired life insurer...
Posted: Dec 02, 2024
Non-bank financial institutions such as hedge funds remain vulnerable to a sudden financial shock and would not all be able to access the funding they would need in such a crisis, the Bank of England said on Friday. Announcing the …
Posted: Dec 02, 2024
Zoom Communications Inc. has offered $18 million to settle a four-year-old US Securities and Exchange Commission probe related to its privacy policies and communications. In the most recent quarter, the company recorded an $18 million expense for a &...
Posted: Dec 02, 2024
The U.S. Federal Trade Commission has opened a broad antitrust investigation into Microsoft, including of its software licensing and cloud computing businesses, a source familiar with the matter said on Wednesday. The probe was approved by FTC Chair...
Posted: Dec 02, 2024
The president of Energy Insurance Agency, an operation with a large presence in Kentucky, said it is “incredibly humbling” for the agency to again be named one of Insurance Journal’s Best Agencies to Work For in the Southeast. ̶...
Posted: Dec 02, 2024
The man accused of carrying out cyberattacks against dozens of Snowflake Inc. customers will face an extradition hearing later this year, after Canadian officials accused him of cybercrimes and being “a risk of danger to the public, police and...
Posted: Dec 02, 2024
An Alabama public adjuster known as an aspiring country music singer has been re-arrested after reportedly violating the terms of his bond from an arrest earlier this year. Austin Tanner, of Orange Beach, also appears to be part owner of …
Posted: Dec 02, 2024
For over 75 years, Ansay and Associates has invested in its future by investing in its people. “As a family owned and independent agency, we have the freedom to focus on long-term success rather than short-term gains,” said Mike Ansay, &#...
Posted: Dec 02, 2024