» Trump Administration Halts Environmental Litigation, Sidelines Lawyers: Sources
27/01/25 00:27 from Insurance Journal
U.S. President Donald Trump’s administration has halted all pending environmental litigation and reassigned four career Justice Department attorneys focused on environmental issues, according to three sources familiar with the matter and a pair of memos seen by Reuters on Friday. …
» FTC Has Bipartisan Support for Merger Cases, Outgoing Chief Says
27/01/25 00:05 from Insurance Journal
The US Federal Trade Commission is likely to have bipartisan support to keep filing cases to block anticompetitive mergers under the Trump administration, said Henry Liu, the outgoing director of the agency’s Bureau of Competition. Liu, who led the agency’s …
» Two Workers Injured in Explosion at Cannabis Facility
27/01/25 00:00 from Insurance Journal
Two workers were injured in an explosion and fire at a cannabis extraction facility on Maryland’s Eastern Shore last Wednesday, state fire officials said. Firefighters were called to PharmaCann in Stevensville for a report of an explosion, according to the …
» PayPal Pays $2 Million Cybersecurity Settlement to New York Regulator
27/01/25 00:00 from Insurance Journal
PayPal, Inc. will pay a $2 million penalty to New York State for violations of the state’s financial services industry cybersecurity regulation. The failures on December 2022 led to sensitive customer information, including social security numbers, being left unredacted and …
» Sky Zone in Washington Fined for Overworking Teens
27/01/25 00:00 from Insurance Journal
The owner of a Tukwila, Washington, trampoline park faces more than $68,000 in fines for not giving teen employees meal breaks, and for working them longer hours than allowed under law. The Washington State Department of Labor & Industries investigated …
» Maryland Man Convicted in $20 Million Insurance Fraud Scheme
27/01/25 00:00 from Insurance Journal
A federal jury last week convicted a Maryland man for conspiracy to commit insurance fraud, money laundering, filing false tax returns and identity theft, according to the office of U.S. Attorney for the district of Maryland. According to court documents …
» LA Wildfires by The Numbers: Insured Losses, Total Losses, Ratings, Rates
24/01/25 13:46 from Insurance Journal
The impact of the historic Los Angeles-area wildfires is being broadly examined and continually refined, with updates almost daily on insured losses, total economic losses damages, credit ratings—and lately worrying outlooks for the effect of the fires on insurance rates. …
» Fitch Revises Mercury’s Outlook to Negative on More Possible LA Fire-Size Cats; Affirms Ratings
24/01/25 12:17 from Insurance Journal
Fitch Ratings said in an outlook revision that it expects Mercury General Corp.’s credit profile will withstand the impact of the Eaton and Palisades fires near Los Angeles, but the agency also gave a negative outlook that reflects “the potential …
» Fitch Revises Mercury’s Outlook to Negative
24/01/25 12:17 from Insurance Journal
Fitch Ratings said in an outlook revision that it expects Mercury General Corp.’s credit profile will withstand the impact of the Eaton and Palisades fires near Los Angeles, but the agency also gave a negative outlook that reflects “the potential …
» ZestyAI Approved in Minnesota
24/01/25 11:47 from Insurance Journal
ZestyAI, a provider of AI-powered property and risk analytics, announced that its Severe Convective Storm suite, including Z-HAIL™, Z-WIND™, and Z-STORM™, has received regulatory approval from the Minnesota Department of Commerce. This milestone supports Minnesota insurers in improving storm risk …
» Trump Administration Reviewing US Automatic Emergency Braking Rule
24/01/25 11:42 from Insurance Journal
A U.S. auto safety agency said on Friday it is reconsidering a landmark rule from the administration of former President Joe Biden requiring nearly all new cars and trucks by 2029 to have advanced automatic emergency braking systems. The National …
» Kansas Department of Insurance Recovers $11.8M in 2024
24/01/25 11:37 from Insurance Journal
Kansas Insurance Commissioner Vicki Schmidt announced the Kansas Department of Insurance recovered more than $11.8 million for Kansans in 2024. The Department’s Consumer Assistance Division has recovered over $47.7 million for Kansans since Commissioner Schmidt first took office in 2019. …
» Crop Trader Declares Force Majeure Along US Gulf During Rare Southern Snow
24/01/25 11:31 from Insurance Journal
One of the world’s biggest crop traders has halted loading of grain vessels at US Gulf terminals as the region’s worst snowstorm in 130 years slams the region. Archer-Daniels-Midland Co. declared force majeure in southern Louisiana with vessels struggling to …
» Texas Asks Wall Street Firms for Details About DEI Efforts
24/01/25 11:30 from Insurance Journal
Texas and nine other Republican-led states are ratcheting up pressure on Wall Street’s diversity programs, asking firms about their policies on hiring and supplier selections as the Trump administration moves to gut DEI. Texas Attorney General Ken Paxton wrote on …
» Specialist Risk Group Acquires Ecclesia Group’s Assets in Netherlands and Belgium
24/01/25 10:38 from Insurance Journal
Specialist Risk Group (SRG), the London-based insurance intermediary, announced it will acquire the assets of Ecclesia Group in The Netherlands and Belgium – a move that will see seven businesses and 700 new colleagues across the two countries join SRG. …
» Digital Lloyd’s Syndicate Ki Becomes Separate Company Within Fairfax Group
24/01/25 09:12 from Insurance Journal
Ki, the Lloyd’s digital follow platform, announced it completed the separation from its parent company, Fairfax Group, becoming a standalone subsidiary on Jan. 1, 2025. Ki was created in 2020 and started writing business through its Syndicate 1618 in 2021. …
» Where Homeowners Rates Are Rising—and Who Is Raising Them Most
24/01/25 08:20 from Insurance Journal
According to a new analysis of homeowners insurance rates, some Midwest states saw the biggest jumps in premiums last year—and American Family Insurance topped a list of 10 insurers ranked by average rate change. The analysis published by S&P Global …
» LA Fires Could Consume 30% of European Reinsurers’ Natural Disaster Budgets: Fitch
24/01/25 08:11 from Insurance Journal
The Los Angeles wildfires could consume more than 30% of the aggregate natural catastrophe budgets set for 2025 by Europe’s four largest reinsurers – Swiss Re, Munich Re, Hannover Re and SCOR, according to a Fitch Ratings commentary. Insured losses …
» New York Obtains $1.065B Judgment Against Accused Predatory Lender
24/01/25 08:10 from Insurance Journal
New York Attorney General Letitia James said on Wednesday her office obtained a $1.065 billion judgment against Yellowstone Capital, a cash advance provider accused of predatory lending, as part of a settlement that gives small businesses more than a half-billion …
» Families Sue TikTok in France Over Teen Suicides they say are linked to harmful content
24/01/25 05:52 from Insurance Journal
In the moment when her world shattered three years ago, Stephanie Mistre found her 15-year-old daughter, Marie, lifeless in the bedroom where she died by suicide. “I went from light to darkness in a fraction of a second,” Mistre said, …