In Last-Minute Reversal, US Agency Extends Support for Cyber Vulnerability Database
U.S. officials will extend support for 11 months for a database of cyber weaknesses that plays a critical role in fighting bugs and hacks, a spokesperson said on Wednesday, just as the funding was due to run out. The expected …
Potential Tariff Auto Severity Impact on Travelers: Single-Digits or Less
Wildfire losses obscured what executives of Travelers described as outstanding underlying results for the insurer’s first quarter—and looking ahead, the company is well-positioned to face the impacts of macroeconomic uncertainty, the chief executive said. During a first-quarter earnings conference call …
NC Committee Approves Bill to End Education Requirements for Insurance Agents
A North Carolina House of Representatives committee voted Wednesday to do away with educational course requirements for insurance agent licenses, a move that could help address what has been called a shortage of producers in the state. “It’s a 40-hour …
Florida’s Anchor Insurance is Reborn as Patriot Select With $29M in Capital
It was once known as Anchor Property & Casualty Insurance Co., based in St. Petersburg, Florida, and launched in 2014. Then it was known as another Florida carrier that had slipped into financial troubles and was placed into an orderly …
Truck Driver Acquitted in Bikers’ Deaths Sentenced for Prior Impaired Driving Charge
A commercial truck driver who was acquitted in the 2019 deaths of seven motorcyclists in New Hampshire pleaded guilty and was sentenced Monday for driving under the influence in Connecticut a month before the deadly crash — an offense that …
New York Inspector Uncovered $2.7 Million in Workers’ Compensation Fraud in 2024
New York State’s Inspector General said her office identified $2.7 million in workers’ compensation fraud in 2024, a nearly 30% increase compared to 2023. Inspector General Lucy Lang also reported there were 14 arrests for workers’ compensation fraud, also a …
NTSB Faults ‘Failure’ in Training Before Deadly Newark Cargo Ship Fire
The Newark fire department’s lack of training and familiarity with marine firefighting during a deadly cargo ship fire at the East Coast’s largest port in July 2023 amounted to a “failure of leadership,” the head of the National Transportation Safety …
California Sets Aside $170M to Thin Vegetation, Forests to Help Prevent Wildfires
Gov. Gavin Newsom signed new legislation on Monday that will provide more than $170 million in state funding to help prevent wildfires while signing an order aimed at speeding up the work by easing environmental permitting. The funding — which …
Judge Blocks Trump’s Freeze on Climate, Infrastructure Grants
A U.S. judge blocked President Donald Trump’s administration on Tuesday from freezing billions of dollars in grants Congress authorized under climate investment and infrastructure laws of his Democratic predecessor, former President Joe Biden. U.S. District Judge Mary McElroy in Providence, …
People Moves: Samsom Named Commissioner of Vermont Financial Regulation
Vermont Governor Phil Scott recently announced several leadership appointments including Kaj Samsom as commissioner of the Department of Financial Regulation (DFR). Prior to his appointment, Samsom served as chief auditor at the National Life Group. Samsom has 14 years of …
Tesla Slumps Below 50% Share of California’s Electric Car Market
Tesla Inc. is no longer selling the majority of new electric cars registered in California, the state that accounts for almost a third of all zero-emission vehicle purchases in the US. The company’s share of EV sales in the state …
FEMA Denies Washington State Disaster Relief From Bomb Cyclone, Governor Says
The Federal Emergency Management Agency has denied Washington state’s request for emergency relief funds to help repair an estimated $34 million in damage from a deadly bomb cyclone storm system in November, according to Gov. Bob Ferguson. Ferguson said in …
US Excess & Surplus Lines Boost London Market Re/Insurers’ Topline Growth
The U.S. excess and surplus (E&S) lines market continues to offer profitable growth opportunities for insurers and reinsurers in the London market – which could help counteract some possible headwinds, according to a report from AM Best. “Excess and surplus …
Group Sues California Department of Insurance Over FAIR Plan Surcharges
A consumer advocacy group has sued the California Department of Insurance and Commissioner Ricardo Lara to block hundreds of millions of dollars in surcharges that could soon appear on California homeowners’ insurance bills. Consumer Watchdog said in a press release …
Louisiana Lawmakers Tackle Insurance Affordability Crisis in Legislative Session
The Louisiana legislative session is underway this week in Baton Rouge, where lawmakers are primed to address the state’s insurance affordability crisis. Governor Jeff Landry and Insurance Commissioner Tim Temple both have made it clear that insurance reform is a …
California’s Newsom Sues Trump Over ‘Chaos’ of Tariff Regime
California Governor Gavin Newsom sued to halt Donald Trump’s tariffs, setting up a high-stakes legal challenge to the president’s landmark effort to overhaul global trade. The state is challenging Trump’s use of emergency powers to enact broad tariffs against Mexico, …
Kentucky Tobacco Warehouse Manager Indicted in Crop Insurance Fraud Scheme
Prosecution of widespread crop insurance fraud in Kentucky has continued with the indictment of a tobacco warehouse manager who allegedly facilitated some of the schemes. Thomas H. Kirkpatrick, manager of Farmers Tobacco Warehouse in Danville, conspired with at least four …
Hertz Says Hackers Stole License Numbers, Credit Card Data
Hertz is alerting customers to a data breach involving drivers’ license numbers and other personal information following a hack in its supply chain. The car-rental company said in a posting on its website that it completed an analysis of the …
United Risk Launches Multi-Line Reinsurance MGA, Names Cahill as CEO
United Risk, a subsidiary of Applied Underwriters, announced it has formed a multi-line reinsurance managing general agent. Jay Cahill, previously United Risk’s chief financial officer, has been named chief executive officer of the new MGA. He will be succeeded as …
Judge Orders Bank of America to Pay $540 Million in FDIC Lawsuit
A federal judge ordered Bank of America to pay $540.3 million in a long-running Federal Deposit Insurance Corporation lawsuit accusing the second-largest U.S. bank of underpaying what it owed for deposit insurance. In a decision made public on Monday, U.S. …