The governing committee of the Automobile Insurers Bureau of Massachusetts (AIB) appointed William H. Scully as president. Scully served as interim president succeeding Kim A. Barber who retired in April 2024. Scully has been with the AIB since August 2000 …

China is guiding local mutual funds and insurers to boost their stock purchases in the government’s latest initiative to shore up its ailing equity market as it confronts the threat of higher tariffs. Mutual funds should raise their holdings of …

Dutch insurance companies and other financial institutions that want to invest in the defense industry can expect guidance from the government, said Defense Minister Ruben Brekelmans. “What I’ve experienced so far with insurers like NN, but also with banks, is …

India widened backing for Russian insurers as the largest buyer of Moscow’s seaborne crude strives to keep discounted barrels flowing, after the US imposed fresh sanctions earlier this month. As well as extending approvals for some sanctioned providers, India’s Directorate …

While the Los Angeles wildfires inch closer toward containment, estimates of insured losses continue to creep higher. CoreLogic said the industry price tag of the Palisades and Eaton fires could land between $35 billion and $45 billion. Moody’s RMS, in …

After Hurricane Milton swept through parts of southwestern Florida in October, aerial drone images showed condominium buildings with large sections of their roof membranes peeled back like blankets on a beach, exposing the buildings to water intrusion. Builders and commercial …

Washington State Insurance Commissioner Patty Kuderer made six additions to her executive team. Kuderer was sworn in as the state’s ninth insurance commissioner on January 15. She replaces Washington Commissioner of Insurance Mike Kreidler, the nation’s longest serving insurance commissioner. …

A cannabis growing company has lost its bid to have its insurer cover $1.3 million in claimed business income losses after a building fire damaged almost 1,000 of its marijuana plants and shuttered one of its “flowering” rooms. A federal …

Toni Boucher threw up the first time she saw the charred remains of her home and neighborhood after this month’s deadly Los Angeles-area wildfires. Now she wonders if it’s worth it to go back to sift through the ashes and …

A man broke into a Philadelphia church and stole a 125-year-old bejeweled crown from atop a marble statue of the Virgin Mary, city police said earlu this week.. The burglary at St. John the Evangelist Roman Catholic Church occurred around …

Microsoft’s LinkedIn has been sued by Premium customers who said the business-focused social media platform disclosed their private messages to third parties without permission to train generative artificial intelligence models. According to a proposed class action filed on Tuesday night …

Specialty wholesaler Flow Specialty said its artificial intelligence model has passed the Registered Professional Liability Underwriter (RPLU) exams for cyber, errors & omissions, and executive liability modules. “For far too long, the middle market segment of specialty business has been …

Proposed legislation aimed at protecting South Dakota farmers from potential “agro-terrorism” activities could have a secondary effect of limiting access to some information about the state’s largest animal feeding operations. Senate Bill 14 seeks to strengthen a set of existing …

Highstreet Insurance Partners announced its acquisition of Siebert Agency Ltd, and its sister companies Russ Siebert Insurance and Mary Siebert Insurance Agency (collectively, “Siebert Insurance”). The terms of the transaction were not disclosed. Under the leadership of Bill Siebert, his …

Texas regulators have completed the first overhaul of oilfield waste rules in over 40 years. The Railroad Commission of Texas last month adopted revisions for Chapters 3 and 4 of its rules that govern commercial oilfield waste landfills and on-site …

New estimates peg insured losses to property from the Palisades and Eaton fires in Los Angels together will fall between $28 billion and $35 billion, which includes losses to the California FAIR Plan. The estimates out on Wednesday from the …

A historic winter storm threatened natural gas shipments from one the biggest US export plants while heavy snow shut schools and airports in Houston and highways in New Orleans. A low-pressure system is dropping bitter cold from Texas to North …

The Travelers Cos. said fourth quarter 2024 and full year net income increased 28% and 67% on strong underlying underwriting results. Travelers posted fourth quarter net income of about $2.1 billion compared to about $1.6 billion during the last quarter …

Among natural disasters, wildfires are the great unknown. Even the most-sophisticated scientific models fail to capture all the risk factors or properly account for the increasing impact of climate change. It’s a major problem for homeowners, insurers and investors, as …

The U.S. Treasury’s Federal Insurance Office last week released what it called the “most comprehensive data on homeowners insurance in history.” Weeks after a U.S. Senate committee released a study and held a hearing on the affect of climate change …