Insurance Journal

Minnesota YMCA to Pay $140K to Settle Sexual Harassment Lawsuit

The St. Cloud Area Family YMCA will pay $140,000 and provide other relief to settle a sexual harassment lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced this week. The EEOC charged in its suit &#8...

Posted: May 09, 2025

Abu Dhabi’s IHC, BlackRock Start $1 Billion Reinsurance Firm

International Holding Co., Abu Dhabi’s largest listed company that’s overseen by a key member of the emirate’s royal family, is setting up a $1 billion reinsurance venture with BlackRock Inc. The yet-to-be-named firm will launch wit...

Posted: May 09, 2025

20 Charged in Alleged Theft of 126 Cars Worth $4.6 Million in NYC and Suburbs

New York law enforcement officials reported that 20 men and women have been indicted and charged with participating in a scheme to steal cars throughout New York City and its suburbs. The vehicles — which officials said were valued at …

Posted: May 09, 2025

New Mexico Utilities Tell Residents to Prepare for Outages When High Fire Risk is High

Electric providers in New Mexico told the state’s utility regulator at citizens at a hearing on Thursday in Santa Fe that residents should be prepared to potentially lose power when high winds and dry conditions raise wildfire risk in their &#8...

Posted: May 09, 2025

New Mexico Utilities Tell Residents to Prepare for Outages When Fire Risk is High

Electric providers in New Mexico told the state’s utility regulator at citizens at a hearing on Thursday in Santa Fe that residents should be prepared to potentially lose power when high winds and dry conditions raise wildfire risk in their &#8...

Posted: May 09, 2025

Why Trump’s Plan to Stop Tallying Weather Losses Matters to the Insurance Industry

Extreme weather is an increasingly expensive problem in the US. Last year, fires, droughts and storms caused more than $182 billion in damages — but going forward, the federal government won’t be keeping track. The National Oceanic and Atmosphe...

Posted: May 09, 2025

FTX Lawsuit Against Tom Brady, Stephen Curry, Others Is Narrowed

A federal judge narrowed but stopped short of dismissing a lawsuit by investors seeking to hold celebrities like sports stars Tom Brady, Stephen Curry and Shohei Ohtani liable for promoting the collapsed cryptocurrency exchange FTX. The investors sai...

Posted: May 09, 2025

Deadly April Rainfall in South, Midwest Intensified by Climate Change, Scientists Say

Human-caused climate change intensified deadly rainfall in Arkansas, Kentucky, Tennessee and other states in early April and made those storms more likely to occur, according to an analysis released Thursday by the World Weather Attribution group of...

Posted: May 09, 2025

Citadel Lobbies for Four-Year Non-Competes in Home State of Florida

Ken Griffin’s Citadel is putting its Florida lobbying muscle behind an effort to allow four-year non-compete clauses and garden leaves in its home state, tightening employers’ hold on well-paid staffers and executives considering defectio...

Posted: May 09, 2025

Trump’s Migrant Crackdown Adds to Miami’s Real Estate Woes

President Donald Trump’s immigration crackdown is making it harder for foreigners to buy and rent homes, threatening a key pillar of Miami’s half-decade-long economic boom. Miami, like much of the US, had already been seeing a real estate...

Posted: May 09, 2025

Shedeur Sanders Fan Sues NFL for $100M Over Quarterback’s Draft Slide

When quarterback Shedeur Sanders slid to the fifth round of the 2025 NFL Draft, many football fans were left shocked that the much-hyped University of Colorado product was passed over time and again. Now one fan is suing the NFL …

Posted: May 09, 2025

EU Plan to Water Down ESG Rules Risks Wave of Litigation, Legal Scholars Warn

The European Union’s plan to slash the scope of new ESG regulations opens the door to a wave of litigation, as companies would no longer be required to act in a way that lives up to the bloc’s climate law. …

Posted: May 09, 2025

UK Sewage Crisis Leaves Beachgoers Sick and Frustrated

Charlie Clarke fell severely ill in late summer 2023 after a swim at Clevedon Marine Lake in southwest England while training for a Triathlon. The next day he collapsed on the street near his home and was taken to the …

Posted: May 09, 2025

Commercial Property Customers Cutting Insurance Corners Despite Risk

As weather-driven catastrophes become more common and severe, commercial property owners and the agents who serve them are reassessing risks and coverage to get more build for their buck. The new Nationwide Agency Forward Commercial Lines Protection...

Posted: May 09, 2025

Florida Wildlife Officers Kill 3 Black Bears After Fatal Attack on Man and Dog

JEROME, Fla. (AP) — Florida wildlife officers have killed three black bears in southwest Florida following a fatal attack on a man and a dog a day earlier, officials said Tuesday. DNA samples from the bears and the attack scene …

Posted: May 09, 2025

ALKEME Adds Maryland’s Becker Benefit Group

California-based insurance brokerage ALKEME announced its acquisition of Becker Benefit Group, an employee benefits agency based in Towson, Maryland. This marks ALKEME’s first acquisition in the state. Becker Benefit Group offers benefits, heal...

Posted: May 09, 2025

People Moves: Cho Named Coalition’s Head of the West Region; Pinnacol Names Awad to Board, Renews Te...

Cho Named Coalition’s Head of the West Region Coalition Inc. named Manny Cho as head of its west region. Cho joins Coalition with over three decades of experience in the insurance industry, most recently serving as executive vice president of &...

Posted: May 09, 2025

People Moves: Cho Named Coalition’s Head of West; Pinnacol Names Awad to Board, Renews Terms for Abs...

Cho Named Coalition’s Head of the West Region Coalition Inc. named Manny Cho as head of its west region. Cho joins Coalition with over three decades of experience in the insurance industry, most recently serving as executive vice president of &...

Posted: May 09, 2025

Lloyd’s Loses Bid to Avoid $800K in Prejudgment Interest

Lloyd’s of London has been told it must pay an extra $800,000 in prejudgment interest on a $2.5 million building fire loss payment to a community bank that it had wrongly denied coverage. A three-judge panel of the Massachusetts Appeals …

Posted: May 09, 2025

By 1 Vote, Pennsylvania House Passes Measure to Legalize Recreational Marijuana

The Pennsylvania House of Representatives on Wednesday narrowly passed a measure to legalize recreational use of marijuana with purchases permitted only through shops run by the state. The vote, 102-101, was largely along party lines with Democrats p...

Posted: May 09, 2025

Hub Acquires Virginia’s Guru of Insurance

Global insurance broker Hub International Limited announced it has acquired the assets of EB Specialists Inc. dba Guru of Insurance. Guru of Insurance is an employee benefits firm located in King George, Virginia that provides clients in the region w...

Posted: May 09, 2025

NJ Diocese Will No Longer Oppose Investigation Into Sexual Abuse Allegations

The Catholic bishop of a New Jersey diocese said he would no longer oppose a state grand jury investigation of clergy sexual abuse that the church has been fighting behind closed doors in court for years. It’s not clear, however, …

Posted: May 09, 2025

Acting FEMA Chief Is Ousted After Less Than 4 Months

Less than a month before hurricane season, the acting administrator of the Federal Emergency Management Agency has been fired. A spokesperson with FEMA offered no reason for the dismissal, but confirmed reports that Cameron Hamilton has been removed...

Posted: May 08, 2025

LA Mayor Credits Trump on Fire Aid, Stays Wary on Immigration

Los Angeles Mayor Karen Bass is navigating one of her city’s most challenging periods in decades. She’s facing a nearly $1 billion budget shortfall, the long recovery from January’s wildfires, and preparations for two of the world&#...

Posted: May 08, 2025

Paragon’s Reel Media Acquires WISE Risk of Massachusetts

Connecticut-based Paragon Insurance Holdings announced that its specialty media and contingency platform, Reel Media Insurance Services, has acquired WISE Risk, a wholesaler for event-driven and specialty insurance products. WISE Risk, based in Needh...

Posted: May 08, 2025