The head of one of the largest private flood insurance writers this week questioned an AM Best report that said private flood companies are failing to make significant inroads in America’s troubled flood market. “From 2020 through 2022, private insurers …

U.S. property and casualty insurance stocks tanked on Monday after Hurricane Milton intensified into a category 4 storm on its path towards Florida’s western coast, marking yet another costly disaster for the industry to cover this year. Insurers are expected …

The U.S. Supreme Court agreed on Friday to hear a bid by U.S. gun maker Smith & Wesson SWBI.O and firearms wholesaler Interstate Arms to throw out Mexico’s lawsuit accusing them of aiding the illegal trafficking of firearms to Mexican …

Migraine drugs represent a small percentage of prescriptions dispensed to injured workers in California, but they make up a larger share of workers’ compensation drug payments, a new report shows. Fewer than 1% of all prescriptions dispensed to injured California …

A growing number of utilities are resorting to an extreme measure to prevent their equipment from sparking catastrophic wildfires: turning off the power. Electric companies serving about 24 million homes and businesses across the fire-prone US West now have plans …

Inszone Insurance Services acquired Schmoekel Insurance Agency Inc. in Sacramento, California. Founded in 1948 by Max Schmoekel, Schmoekel Insurance Agency was initially known as a non-standard insurance agency, specializing in finding coverage for high-risk clients. In the early 1960s, Max’s …

Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, has appointed Tine Simonsen as the company’s head of Insurance for Continental Europe. As an experienced cyber underwriter and broking leader, Simonsen will anchor Coalition’s presence and expansion in …

AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” (Excellent) from “a+” (Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Shelter Mutual Insurance Company (Shelter Mutual) (Columbia, MO) and its property/casualty (P/C) …

California Insurance Commissioner Ricardo Lara issued a mandatory one-year moratorium on insurance companies to preserve residential insurance coverage for more than 16,000 policyholders affected by the Boyles Fire located in Lake County. The commissioner’s order shields those living within the …

Optio Group, the London-based specialty managing general agent, announced it has acquired the Luxembourg-based MGA, Circles Group for an undisclosed sum, subject to regulatory approval. The acquisition of Circles, Optio’s largest in Europe to date, represents a strategically critical development …

AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of C++ (Marginal) and the Long-Term ICR of “b+” (Marginal) of Farmers Mutual Insurance Company …

Tesla said on Thursday it would recall more than 27,000 Cybertrucks in the United States due to delayed rear-view camera images that could impair driver visibility and increase crash risks. This is the fifth recall issued by Tesla for 2024 …

Texas Attorney General Ken Paxton sued TikTok on Thursday for sharing and selling minors’ personal information, violating a new state law that seeks to protect children who are active on social media, accusations that the company denied hours later. The …

Ryan Specialty, headquartered in Chicago, named new leadership within its specialty underwriting segment, Ryan Specialty Underwriting Managers (RSUM). Eric Quinn was promoted to executive vice president – capital and product strategy. Quinn joined RSUM through the acquisition of All Risks …

The driver of a vehicle that crashed into a pipeline valve and sparked a four-day fire that forced the evacuation of nearby neighborhoods in a Houston suburb was a local 51-year-old man, according to police. Remains found in the SUV …

BROOKLYN, Mich. (AP) — Concert promoter Live Nation isn’t responsible for the deaths of three young men who succumbed to carbon monoxide poisoning from a generator while camping at a Michigan music festival in 2021, the state appeals court said. …

Africa Specialty Risks (ASR), the pan-African and Middle East-focused reinsurance group, announced that has begun operating as a Lloyd’s service company. As a Lloyd’s service company, ASR’s UK based entity, Africa Specialty Risks Ltd. (ASR Ltd.), is underwriting on behalf …

HORSESHOE BEACH, Fla. (AP) — It was just a month ago that Brooke Hiers left the state-issued emergency trailer where her family had lived since Hurricane Idalia slammed into her Gulf Coast fishing village of Horseshoe Beach in August 2023. …

Becton Dickinson & Co. will pay more than $1 billion to resolve more than 38,000 lawsuits alleging medical patients suffered damaged organs from surgical mesh improperly used to treat hernias, according to people familiar with the deal who weren’t authorized …

The Pennsylvania Supreme Court has reversed lower court rulings and denied a dentist’s bid for insurance coverage for loss of use of his offices due to the COVID-19 pandemic. The high court concluded in a case involving CNA and Valley …