Insurance Journal

People Moves: Ryan Specialty Appoints Kelleher President of SUITELIFE Underwriting Managers

Ryan Specialty, headquartered in Chicago, Illinois, appointed Chris Kelleher president of SUITELIFE Underwriting Managers effective June 30. The hotel and resort industry-focused managing general underwriter is a part of the Ryan Specialty Underwriti...

Posted: Apr 24, 2025

Wife of Former US Sen. Bob Menendez Convicted in Bribery Scheme

Nadine Menendez, the wife of former U.S. Sen. Bob Menendez, was convicted of teaming up with her husband to accept bribes of cash, gold bars and a luxury car from three New Jersey men looking for help with their business …

Posted: Apr 24, 2025

Small Plane Hit Power Line Before Crashing in Platte River in Nebraska

A small plane appeared to have struck a power line before it crashed into the Platte River in Nebraska and killed all three people aboard, according to the National Transportation Safety Board. Few details are available about the Friday evening &#823...

Posted: Apr 24, 2025

Texas Governor Abbott Signs Bill Inspired by DOGE

Gov. Greg Abbott on Wednesday signed the first law of this year’s legislative session, a bill creating a new regulation-cutting agency inspired by Elon Musk’s federal Department of Government Efficiency. “Texas can have our own DOGE...

Posted: Apr 24, 2025

Ohio Attorney General to Certify Proposed Ban on Police Immunity

Prompted by a stinging defeat at the U.S. Supreme Court, Republican Ohio Attorney General Dave Yost on Tuesday said he was putting aside his objections and allowing a proposed constitutional amendment that would end qualified immunity for police and...

Posted: Apr 24, 2025

Global Commercial Insurance Rates Drop 3% During Q1, but US Casualty Bucks the Trend

Global commercial insurance rates fell 3%, on average, in the first quarter of 2025 following a 2% decline in Q4 2024, according to the Global Insurance Market Index published quarterly by insurance broker Marsh. The Q1 2024 average commercial rate &...

Posted: Apr 24, 2025

US Officials Mull Easing Tariffs Targeting the Auto Industry

The Trump administration is considering whether to reduce certain tariffs targeting the auto industry that carmaker executives have warned would deal a severe blow to profits and jobs. One measure would spare automobiles and parts already subject to...

Posted: Apr 24, 2025

Baltimore City School District Reports Cyber Incident

Baltimore City public school officials are dealing with a cybersecurity incident that occurred on February 13. Officials said that criminal actors appear to have gained unauthorized access to documents with information belonging to some current and f...

Posted: Apr 24, 2025

Apple, Meta Fined as EU Presses Ahead With Tech Probes

Apple was fined 500 million euros ($570 million) on Wednesday and Meta 200 million euros, as European Union antitrust regulators handed out the first sanctions under landmark legislation aimed at curbing the power of Big Tech. The EU fines could &#82...

Posted: Apr 24, 2025

After FSU Shooting, Students Call on Lawmakers to Block Lower Gun-Buying Age

TALLAHASSEE, Fla. (AP) — Student survivors of last week’s deadly shooting at Florida State University urged state legislators Tuesday to block an effort to reverse a law passed after the 2018 Parkland school shooting that raised the state&#8217...

Posted: Apr 24, 2025

Lilly Sues 4 Compounders Over Copies of Weight-Loss Drugs

Eli Lilly said Wednesday it had sued four compounders for selling unapproved products containing tirzepatide, after a U.S. judge last month blocked pharmacies from making copies of its weight-loss and diabetes medicines. Compounders were, until recen...

Posted: Apr 24, 2025

Insurance Groups Celebrate Signing of Georgia Tort Reform Laws

ATLANTA (AP) — Republican Gov. Brian Kemp’s political organization took to social media to tout his success in limiting lawsuits in a way Georgians could understand. “Thank you” its ad proclaimed, with the words blocked in the yello...

Posted: Apr 24, 2025

Update on New Jersey Wildfire: 50% Contained; 13,250 Acres Burned

New Jersey firefighters reported Wednesday night that the Jones Road wildfire in Ocean County has been 50% contained after burning 13,250 acres. About 12 structures are currently under threat, down from 20 on Wednesday, according to the New Jersey Fo...

Posted: Apr 24, 2025

Update on New Jersey Wildfire: Suspect Charged With Arson

New Jersey officials announced that a 19-year old man has been charged with arson in connection with the Jones Road wildfire that started on April 22 and has spread throughout the southern Ocean County area. Joseph Kling of Waretown has …

Posted: Apr 24, 2025

Generali CEO Secures New Term After Contested Natixis Deal

Generali Chief Executive Philippe Donnet secured shareholder support on Thursday to stay in the job for another three years, after he struck a landmark asset management deal that irked both a major investor and the Rome government. The vote hands &#8...

Posted: Apr 24, 2025

UK’s Extremely Dry Start to Year Raises Crop and Wildfire Risks

The UK’s driest start to the year in four decades is threatening the country’s grain crops and increasing the risk of wildfires. Total precipitation of about 20.5 centimeters (8.1 inches) during the first quarter was the lowest since 1985...

Posted: Apr 24, 2025

AXA Board Proposes to Renew CEO Buberl’s Mandate in 2026

French insurer AXA’s board of directors will propose the renewal of Chief Executive Thomas Buberl’s mandate for another four years at its annual shareholder meeting in 2026, the company said on Wednesday. Buberl, 52, has led the group sin...

Posted: Apr 24, 2025

UniCredit Holds Stake of Between 6-7% in Generali, Source Says

UniCredit has increased its stake in insurer Generali to between 6% and 7%, a person with knowledge of the matter said on Thursday, ahead of a key shareholder vote to pick a new board of directors. Unicredit’s stake was 5.3% …

Posted: Apr 24, 2025

The Race to Fix Aging Computer Systems Heats Up With AI’s Help

Kresimir Mudrovcic and his team of programmers spend months on end trawling through computer code that can be three times as old as the crew’s youngest members. Mudrovcic specializes in mainframe technology, involving computers tracing their ro...

Posted: Apr 24, 2025

Tech Update: Lloyd’s Backs BreachBits; ZoJacks Prevents Water Claims; Eagleview Expands Drone Option...

Washington, D.C.-based BreachBits has received an investment of an undisclosed amount from Lloyd’s in what is the London-based global insurance marketplace’s third strategic innovation investment from among over 150 alumni of the Lloyd&#8...

Posted: Apr 24, 2025

More Floridians Moving Out Due to Housing, Insurance Costs, Cotality Report Says

Florida’s elected leaders have long touted the “1,000 people a day” moving into the state. But that trend shows signs of slowing, with people moving out of the Sunshine State due to surging housing and property insurance costs, acco...

Posted: Apr 24, 2025

Distracted Drivers Are Overconfident; 20% Still Texting While Drivin

Driver overconfidence is leading to risky behavior. Nationwide’s latest driver survey found 20% of drivers text while driving, 15% use social media, 13% watch videos, and 11% read or write emails. Half of all drivers admit to eating or drinking...

Posted: Apr 24, 2025

Distracted Drivers Are Overconfident; 20% Still Texting While Driving

Driver overconfidence is leading to risky behavior. Nationwide’s latest driver survey found 20% of drivers text while driving, 15% use social media, 13% watch videos, and 11% read or write emails. Half of all drivers admit to eating or drinking...

Posted: Apr 24, 2025

People Moves: SCM Names Valenzuela VP and Bond Manager; Breiter Joins Alliant in California

Valenzuela Joins SCM as Vice President and Bond Manager SullivanCurtisMonroe Insurance Services named Adriana Valenzuela vice president and bond manager. Before joining SCM, Valenzuela managed the surety department for Alliant Insurance Services&#821...

Posted: Apr 24, 2025

Viewpoint: What Tariffs and Steel Prices Mean for E&S Construction Insurance in California

Steel prices have been anything but steady in recent years. With renewed discussions around tariffs and trade restrictions, another wave of volatility may be on the horizon. While much attention is paid to how rising material costs impact builders an...

Posted: Apr 24, 2025