Insurance Journal RSS feed

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 …

The Mexican navy tall ship that struck the Brooklyn Bridge was underway for less than 5 minutes before its masts crashed into the historic span, and radio calls indicating it was in distress went out only 45 seconds before the …

Marks & Spencer Group Plc is facing a £300 million ($403 million) hit to operating profit this fiscal year from a cyberattack last month it blamed on human error that is still disrupting sales and operations. The British retailer will …

Thoma Bravo-backed Nearmap has agreed to buy insurance technology provider itel from private equity firm GTCR, the companies said on Tuesday, as it looks to expand its offerings across property portfolios. The deal values itel at over $1.3 billion, including …

The European Union’s agriculture industry is losing €28 billion ($31.5 billion) a year due to increasing climate risks, such as droughts and flooding, according to a new study. Those losses from adverse weather equate to about 6% of production, according …

New Jersey-based World Insurance Associates, one of the larger brokerages in the country, has continued its expansion plans with the recent acquisition of two agencies in South Carolina, the firm announced this week. Owens Insurance Agency, in Greer, and Stokes …

Alphabet’s self-driving unit Waymo said on Monday it received approval from California to expand its robotaxi operations in more areas of the San Francisco Peninsula and further south, including San Jose. Waymo’s permission from California comes as Tesla gears up …

The U.S. Senate will move this week to block California from enforcing a series of vehicle emissions standards that are tougher than the federal government’s, including first-in-the-nation rules phasing out the sale of new gas-powered cars by 2035. Majority Leader …

A multiday severe weather outbreak across the central U.S. caused an estimated $9 billion to $11 billion in total damages and economic loss, according to AccuWeather preliminary estimates. More than 70 tornadoes have been reported since May 16. Authorities say …

Ryan Specialty, the Chicago-based international specialty insurance firm, announce that it has acquired 360° Underwriting (360), a managing general underwriter specializing in commercial construction. 360 is based in Dublin and Galway, Ireland, and will become a part of the Ryan …

Insurance industry financial strength rating agency AM Best said today that a decision to stop updating a National Oceanic and Atmospheric Administration disaster database could be detrimental to insurers and may require the rethinking of some products. About two weeks …

An Iowa-based ice cream manufacturer has recalled nearly 18,000 containers of ice cream and frozen yogurt over concerns they could contain pieces of plastic. Wells Enterprises issued the voluntary recall last month, according to recently released information from the Food …

Stablecoin legislation overcame a procedural blockade in the US Senate, marking a major victory for the crypto industry after a group of Democrats dropped their opposition Monday. The industry-backed regulatory bill is now set for debate on the Senate floor …

Massachusetts Insurance Commissioner Michael Caljouw has rejected an industry proposal to raise workers’ compensation rates by 7.1%. As a result, existing rates, which reflect a 14.6% decrease ordered last July, will remain in effect for policies on and after July …

Bayer is preparing a plan to settle some of its mass lawsuits over Roundup weedkiller in Missouri, and may also seek bankruptcy for its Monsanto unit if the effort fails, the Wall Street Journal reported, citing sources. The German pharmaceutical …

Shields Health Care Group has agreed to pay $15.3 million to settle federal and state class actions filed against it by patients over a 2022 data breach. Shields operates medical imaging and surgical centers in 50 locations across the New …

Japan’s three major casualty insurers plan to sell a total of about ¥1.37 trillion ($9.5 billion) of cross-held shares in the fiscal year started April in a push to reduce strategic holdings in line with government policy. Tokio Marine Holdings …

Boroughs Named Vice Chairman, Chubb Group; Hogan Succeeds Boroughs as Chubb Group Chief Investment Officer Chubb Limited, with U.S. headquarters in Warren, New Jersey, named Tim Boroughs vice chairman, Chubb Group and executive chairman, asset management. Chris Hogan has been …

More tornadoes plowed through the central U.S. on Monday and thousands were without power as people from Texas to Kentucky continued to clean up from days of severe weather that killed more than two dozen people and destroyed thousands of …

Driverless vehicle developer Aurora Innovation Inc. is putting a human back in front of the wheel of big rigs operating in Texas, reversing course less than three weeks after the company began commercial autonomous service there. The decision to move …