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Amid the last-minute scramble to move legislation before the non-budgetary session was set to end last week, Florida lawmakers quietly approved a bill that could open up more contaminated “brownfield” areas in south Florida to housing development. But the bill, …

AM Best reports it has revised the outlooks to stable from negative and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of Amica Mutual Insurance Co. and its …

The city of New Haven’s insurance company is insisting that the city pay back the $3.55 million the insurer paid to settle claims over a 2019 rooming house fire in which two people were killed. Pennsylvania Manufacturers Association Insurance Co. …

After years of litigation, PDX North, Inc., a last-mile automotive parts distribution company, has agreed to pay up to $7 million to resolve worker misclassification violations involving its delivery drivers, announced New Jersey officials. The settlement brings to a close …

Owners of one of the biggest towing businesses in Southern California were arrested on multiple counts of felony insurance fraud. Bothers Mark Hassan and Ahmed Hassan were charged with underreporting employee payroll and paying parts of employees’ wages in cash …

Bank of America Corp. has agreed to settle a proposed class action lawsuit on behalf of Jeffrey Epstein victims who accused the bank of aiding in the deceased financier’s sex-trafficking, according to a court record. The agreement in principle was …

As another wildfire season looms, insurance companies have abandoned some California neighborhoods at lower risk of burning, forcing tens of thousands of homeowners to obtain bare-bones coverage from the state’s insurer of last resort. California intended the insurer, called the …

Farmers Insurance alleges in a lawsuit that a former agent in Oklahoma conspired to move Farmers’ insureds to other insurance companies, including an agency where his wife works. Farmers alleges that Bradley McKinney broke his Agent Appointment Agreement with Farmers …

The city of St. Petersburg, Florida, in 2024 famously lowered its insurance coverage on Tropicana Field, the longtime home of the Tampa Bay Rays baseball team. The move saved the city some $275,000 in annual premium but slashed coverage limits …

TMK Appoints Glover From AIG as Aviation Underwriter Specialty insurer Tokio Marine Kiln (TMK) announced it has appointed Cameron Glover as an underwriter within its Aviation department. He takes up his new role within the expanding Aerospace division writing airport …

The Trump administration’s $20 billion maritime reinsurance program, which aims to cover hull & machinery, as well as cargo, is designed to get ships moving through the Strait of Hormuz. But, according to Moody’s Ratings, without coverage of liability risk, …

Encyclopedia Britannica and its Merriam-Webster subsidiary have sued OpenAI in Manhattan federal court for allegedly misusing their reference materials to train its artificial intelligence models. Britannica said in the complaint filed on Friday that Microsoft-backed OpenAI used its online articles …

A Florida judge has given another win to Citizens Property Insurance Corp., finding that the state-created insurer’s arbitration endorsement is constitutional and enforceable. “Final judgment is granted in favor of Citizens and against the plaintiff as to this declaration that …

US data center development has slowed because the power grid is reaching its limit to accommodate more large facilities, according to research from energy consultancy Wood Mackenzie. Developers added data centers that would consume about 25 gigawatts of electricity to …

A man was charged week with selling a stolen gun to Mohamed Bailor Jalloh, a former member of the Army National Guard who used it to kill one person and wound two others at Old Dominion University, federal authorities said. …

In a three-way deal, TPG, an asset management firm, has launched an insurance brokerage with offices in South Carolina. That brokerage, Third Wave Insurance, has acquired Palmer & Cay, an insurance and employee benefits brokerage in Atlanta. Palmer & Cay, …

Starbucks may be neglecting the financial and reputational risks that stem from labor disputes, two proxy advisory firms are warning shareholders. The warnings come more than a year after contract talks between the company and its U.S. union, formed by …

McGill and Partners and American International Group said they collaborating to perhaps disrupt the subscription market—using agentic artificial intelligence to deploy capital to clients. AIG said the digital-first platform of the London-based independent broker allowed the insurer to conduct a …

The disruption to energy markets caused by the Iran war is a lesson on the risks of relying on fossil fuels which should drive governments to wean their economies off oil and gas faster, the U.N. climate secretary told Reuters …

SiriusPoint Ltd., the Bermuda-based specialty underwriter, announced changes to its business structure as part of the next phase of the company’s evolution. SiriusPoint will now operate through four business areas, including three globally focused P&Ls: Global P&C Programs, Global Reinsurance, …