South Texas Town Lifts Boil Water Notice After 11 Days
McALLEN — Laredo residents are free to use their water after an 11-day boil-water notice expired earlier this week. City officials announced the end of the warning and pledged to address the factors believed to have caused the city’s water …
AM Best Revises Outlook to Stable for American Family Mutual and Core Affiliates
AM Best has revised the outlooks to stable from negative for the Long-Term Issuer Credit Ratings (Long-Term ICRs) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) of American Family Mutual Insurance …
AI Push Sees Italy’s Intesa Axing 9,000 Jobs in ‘Generational’ Shift
Intesa Sanpaolo SpA is replacing thousands of staff with younger hires to set the firm up for the use of artificial intelligence, demonstrating how much the technology is impacting workers across the financial industry. The Italian lender plans for 9,000 …
How a US judge Injected Culture Wars Into Boeing 737 MAX Plea Deal
A Texas federal judge with a record of ruling in favor of conservative causes injected uncertainty into Boeing’s agreement to plead guilty over two fatal 737 MAX plane crashes, seizing upon a single sentence in the deal about the U.S. …
Iranian Hacker Group Focuses on US Election Websites, Media, Microsoft says
An Iranian hacking group is actively scouting U.S. election-related websites and American media outlets as election day nears, according to a Microsoft blog published on Wednesday. Researchers say the activity suggests “preparations for more direct influence operations.” The hackers – …
Former Ga. Insurance Commissioner, Now in Prison, Surrenders Law License
ATLANTA (AP) — Former Georgia Insurance Commissioner John Oxendine, now in federal prison, has surrendered his law license after pleading guilty to conspiracy to commit health care fraud. The Georgia Supreme Court, in a brief decision on Tuesday, accepted Oxendine’s …
Grieving Families Say Georgia Island Dock Collapse Tragedy Was Preventable
JACKSONVILLE, Fla. (AP) — Regina Brinson heard a crack before the metal walkway gave way beneath her feet, plunging her into the water beneath the state-operated ferry dock on Georgia’s Sapelo Island. As strong currents swept her and others who …
Marsh: US Commercial Insurance Rates Up 3% on Hikes in Casualty
Commercial insurance rates during the third quarter in the U.S. increased 3%, with casualty rates up 10%. According to Marsh’s Global Insurance Market Index — which noted the first decline in global commercial rates since the third quarter 2017 — …
Milton Ravaged One of the Most Popular Areas for Snowbirds on Florida’s Gulf Coast
BRADENTON BEACH, Fla. (AP) — The start of “snowbird” season in Florida is only weeks away, but many Florida Gulf Coast beaches, regularly voted some of the best in the United States, are closed to the public because of the …
Gas Leak Kills 2 in Home Previously Busted for Illegal Marijuana Operation
Two people died and two others were treated for carbon monoxide poisoning at a Freedom, Maine home previously busted for an illegal marijuana grow operation, officials said Tuesday. Freedom Fire Chief Jim Waterman said his agency was alerted to a …
Former Propane Worker Charged in Virginia House Blast That Killed Firefighter
A former employee of a propane supplier has been charged in the death of a volunteer firefighter who died while responding to a house explosion in Sterling, Virginia in February, officials said this week. Roger Bentley was indicted Monday on …
Global Commercial Insurance Rates See 1st Quarterly Decline in Seven Years: Marsh
Global commercial insurance rates fell 1% in the third quarter of 2024 from the previous quarter, which marked the first time the index has recorded a quarterly decline since the third quarter of 2017, according to the Global Insurance Market …
Dark Fleet Oil Tanker Caught in Recent Collision Heads to China
A dark-fleet oil tanker that was recently involved in a crash in Southeast Asia is now on its way to China. Ceres I, an aging very-large crude carrier that’s suspected of transporting sanctioned oil, is en route to Zhoushan in …
Brazil to Sign Compensation Deal With Miners Over 2015 Dam Disaster on Friday
Brazilian authorities will sign on Friday a long-awaited reparation deal with miners Vale, BHP and Samarco over the 2015 Mariana dam collapse, the country’s presidential office said on Wednesday. The agreement will be signed in a ceremony attended by President …
New Rules Proposed to Block China, Russia, Iran From Accessing Bulk US Data
The U.S. Justice Department on Monday proposed new rules to protect federal government data or Americans’ bulk personal data from getting into the hands of countries like China, Iran and Russia by placing new limits on certain business transactions. The …
The Data Behind Rising Homeowners Premiums: By Peril and By State
The U.S. home insurance industry has experienced an upward trend in all-peril loss costs over the past seven years, according to a new report released by LexisNexis Risk Solutions. The ninth annual LexisNexis U.S. Home Trends Report found that all-perils …
Florida’s Heritage Insurance Reports 5,400 Claims, $57M in Cat Losses From Milton
More loss and claims estimates are trickling in from carriers after Hurricane Milton caused widespread wind and flood damage in Florida this month. Tampa-based Heritage Insurance Holdings said in a preliminary statement that about two weeks after Milton made landfall …
McDonald’s Is Racing to Contain Fallout From E. Coli Outbreak
McDonald’s Corp. is trying to contain the fallout from a severe E. coli outbreak that appears to be linked to the slivered onions in its popular Quarter Pounder sandwiches. The US Centers for Disease Control and Prevention on Tuesday announced …
Penn State to Pay $1.25M to Resolve Claims of Cybersecurity Non-Compliance
The Pennsylvania State University has agreed to pay $1,250,000 to settle claims that it violated the False Claims Act by failing to comply with cybersecurity requirements in 15 contracts involving the Department of Defense (DoD) or National Aeronautics and Space …
80% of Residents Say New York City Is Unprepared for Climate Risks
A recent survey reveals that a 80% of New York City residents feel their city is unprepared for climate-related risks. The survey, conducted as part of new Economist Impact research supported by global multiline insurer Zurich Insurance Group, highlights significant …
Insurance Journal delivers the latest business news for the Property/Casualty insurance industry
Subscribe to Insurance Journal feed