State Farm has reported paying out $2.5 billion for the Los Angeles wildfires in January, more than double what the carrier reported paying out weeks earlier. “As of March 28, we’ve received more than 12,300 total claims related to the …

AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of The Pie Insurance Company (Columbus, OH) and its pooled affiliate, Pie …

MS&AD Insurance Group Holdings Inc. announced it will merge two of its non-life insurance company subsidiaries – Mitsui Sumitomo Insurance Co. Ltd. and Aioi Nissay Dowa Insurance Co. Ltd. This merger will establish a non-life insurance company that holds the …

What goes down your toilet can end up on farm fields across the United States. Biosolids, or sewage sludge, are the solid byproducts of the wastewater treatment process. Rich in nutrients, they can be used as fertilizer on agricultural fields …

RYZE Claim Solutions, a full-service claims management company, announced the acquisition of Leading Edge Claims Service, a firm based in Southlake, Texas. This strategic move further strengthens RYZE’s position in the industry, reinforcing its long-term vision for the continued expansion …

The US National Weather Service will merge two of its largest forecasting units as it prepares for the loss of as many as 1,000 staffers. Employees were encouraged to take early retirements asa handful of consolidations were announced during an …

Texas Attorney General Ken Paxton announced Thursday that he has launched an investigation into one of the state’s Medicaid insurance providers after allegations that the company illegally spied on Texans. The state is investigating Superior HealthPlan, an insurance company that …

The U.S. Securities and Exchange Commission is beginning to onboard officials with billionaire Elon Musk’s Department of Government Efficiency, according to an email sent on Friday to department staff. SEC staff were informed that the DOGE task force had contacted …

A Las Vegas resident appeared in U.S. District Court in Las Vegas, Nevada, to face federal charges related to an arson at a Tesla collision business. Paul Hyon Kim, 36, was charged by criminal complaint with one count of unlawful …

W.R. Berkely Corp. said Friday that Japanese property/casualty insurer Mitsui Sumitomo Insurance Co. will buy a 15% stake in the company through open market purchases or private transactions with third parties. W.R. Berkely said the Berkely family will not be …

Myanmar’s military leader requested international aid on Friday to help deal with the aftermath of a massive earthquake that they said has left at least 144 people dead. The quake on Friday measured 7.7 in magnitude, according to the US …

Broker Lockton early this week issued its outlook of the mostly buyer-friendly U.S. property/casualty market with eye on potential changes in directors and officers liability. The latest edition of the Lockton Market Update noted public and private D&O insurance buyers …

South Korean authorities have contained the main blazes in the country’s largest forest fire on record, a minister said on Friday, as rain and better weather allowed more helicopters to fly and dump water, dousing the flames. Spread by strong …

A group of Italian fund managers said on Friday it would put forward four candidates for the new board of Generali, adding to uncertainty over the outcome of a key shareholder vote at the country’s biggest insurer. A shareholder clash …

The Arctic Ocean likely had the smallest winter ice cover in 47 years of satellite records this season, with just 5.53 million square miles of sea ice covering the region at its peak on March 22. That’s 510,000 square miles …

The recently formed, Florida-based Mangrove Property Insurance Co. has named former Olympus Insurance COO as chief operating officer and elevated four others to management roles at the startup. Tim Cotton, who spent almost four years at Olympus as COO and …

Italian financial group Unipol aims to generate 1 billion euros ($1.1 billion) in capital over the next three years to boost its finances and have money for investments. Unveiling its “Stronger/Faster/Better” plan for 2025-2027, Italy’s second biggest insurer said on …

The top U.S. consumer finance agency on Wednesday asked a court to undo an enforcement case which the watchdog had already won last year, accusing prior agency officials of abusing their power as they sought to enforce diversity, equity and …

The National Highway Traffic Safety Administration said on Friday it was opening an engineering analysis into 2.2 million Honda vehicles over concerns related to its engine restarting. Complainants allege the engine fails to restart on its own from a complete …

It’s the economy stupid, and it seems that a lot of executives are using their brain power on their current worries rather than on the climate concerns of tomorrow—despite those concerns materializing in the here and now. Executives are focused …