Insurance Journal RSS feed

Warren Buffett, who built Berkshire Hathaway Inc. into a business valued at more than $1.16 trillion and himself into a celebrity billionaire renowned for his investing acumen and witticisms, will step down at year-end after six decades atop the conglomerate. …

Hawaii lawmakers this week passed a bill intended to help shore up Hawaiian Electric Co.’s credit rating despite strong opposition from House and Senate committee chairs who helped vet the measure. The bill would impose a new fee on HECO …

Voters in Alaska, Missouri and Nebraska were asked last year whether they wanted to require employers to provide paid sick leave to their workers. They overwhelmingly said yes. Now some lawmakers in each of those states are trying to roll …

Texas Mutual Insurance Company announced that its board of directors voted unanimously to approve a $330 million general dividend distribution in 2025. Texas Mutual, the state’s top provider of workers’ compensation insurance will have distributed more than $1 billion in …

Even as auto insurance rates level out, drivers are still looking for a better deal. The rate of U.S. auto insurance premium price increases slowed to less than 2% at the end of 2024, down from 13% at the beginning …

At AM Specialty Insurance Co., Nishad Lad, head of data and software development, has been placed at the forefront of transforming the Dallas, Texas-based excess and surplus carrier’s claims processing with new technologies. His team has implemented an array of …

Norfolk Southern began making promises to East Palestine, Ohio, soon after its train derailed and caught fire in February 2023. The railroad said it would “make it right” after five tank cars of vinyl chloride were intentionally burned, sending up …

Attendees of the RIMS’ Riskworld annual conference in Chicago will have an opportunity to meet a cohort of aspiring risk management professionals, who are participating in a global university competition. Teams from eight colleges around the world will compete in …

Uber Technologies said on Thursday it will partner with self-driving technology startup May Mobility to deploy thousands of self-driving vehicles on its ride-hailing platform across U.S. cities, starting with Arlington, Texas, by late 2025. This adds to Uber’s growing list …

A new paper from Zurich calls out an “alarmingly bleak” outlook thanks to climate change driving the frequency and intensity of extreme weather and increasing the likelihood of natural catastrophes. However, the paper takes an optimistic stance that there are …

In a first-of-its kind move, Hawaii lawmakers are ready to hike a tax imposed on travelers staying in hotels, vacation rentals and other short-term accommodations and earmark the new money for programs to cope with a warming planet. State leaders …

Britain’s Marks & Spencer entered a second week unable to take online clothing and home orders on Friday following a major cyberattack, hitting sales of new season ranges as the country basks in record temperatures. Some 700 million pounds ($930 …

Adult children and parents of young adults who died under medical care will soon be able to recover punitive and pain-and-suffering damages in medical malpractice lawsuits if Florida Gov. Ron DeSantis signs a bill into law. The Florida Senate approved …

During a Senate committee hearing focusing on insurance and loss mitigation efforts, industry representatives said that all levels of government play a role. “Where government regulation and infrastructure allow private, competitive, insurance, and global reinsurance markets to flourish, consumers are …

Global specialty insurance broker Ryan Specialty has completed the acquisition of USQRisk Holdings, LLC. Operating in New York and London, USQ underwrites non-traditional insurance risks. USQ’s operations will become a part of the alternative risk business within Ryan Specialty. The …

Liberty Mutual Insurance has announced a multiyear partnership with the New York Liberty women’s professional basketball team. As part of the partnership, the Liberty Mutual logo will be prominently displayed on all Liberty jerseys beginning with the 2025 season. Additionally, …

Acrisure Announces Rebranding of UK Retail Broker Sutton Winson Sutton Winson has officially become the first of Acrisure’s nine retail insurance brokers to rebrand in the UK and has been legally renamed as Acrisure UK Broking Ltd. Acrisure, the Grand …

Apple must pay a U.S. patent holder $502 million for the use of 4G patents in devices including iPhones and iPads, London’s Court of Appeal ruled on Thursday, in the latest stage of a long-running legal battle. Texas-based Optis Cellular …

London department store Harrods said on Thursday hackers had attempted to break into its systems, the third high-profile cyber attack on a UK retailer in two weeks, following incidents at Marks & Spencer and the Co-op Group. British companies, public …

Denmark plans to set aside almost $1 billion to insure its merchant fleet in the event of a war or major crisis. The government proposed the new legislation as a “timely precaution,” according to a statement on Thursday. The funding …