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INSURANCE NEWS
World Insurance Acquires New Jersey’s Pellechio Family Agency
World Insurance Associates announced it acquired the business of Pellechio Family Agency of Parsippany, New Jersey on May 1, 2026. The Pellechio agency was founded in 2107. It offers commercial and personal insurance. Terms of the transaction were not disclosed. …
Business Moves: Oneglobal Broking Acquires LATAM Reinsurance Brokers
Oneglobal Broking, the London-based international insurance and reinsurance broker, has acquired LATAM Reinsurance Brokers Corp., an independent reinsurance broker headquartered in Panama City, Panama. Financial details of the deal were not disclosed. The acquisition marks a further milestone in Oneglobal’s …
People Moves: Pharmacists Mutual Names Shaw as VP and Head of Claims
Pharmacists Mutual Insurance Group announces that Sharon Duez Shaw has been named Vice President and Head of Claims. Shaw joined the organization on August 31, 2026, as part of a planned leadership transition from Peter Lambert, Senior Vice President, who …
Tesla Readies Cybercab Launch Event That’s Shrouded in Mystery
In late 2024, Elon Musk took the stage on a Hollywood studio lot to unveil the Cybercab, a vehicle with no steering wheel or foot pedals that he promised would revolutionize car travel across the country. Almost two years later, …
Lockton Named in NBA Investigation Into Clippers Salary Cap Circumvention
Lockton Insurance is among companies named in the NBA’s investigation into the Los Angeles Clippers’ circumvention of league salary cap rules to sign star Kawhi Leonard. Leonard and his then-business partner, Dennis Robertson, violated the league’s circumvention rules by pressuring …
Santam Drops US Investment as Property-Rate Dip Damps Outlook
Santam Ltd. has paused its foray into the US as a decline in property premium rates in the world’s biggest economy forced South Africa’s largest general insurer to rethink its expansion plan. It discontinued investments into Avatar Holdings, a London-based …
Thomson Reuters Detects Cyber Incident, Says Unauthorized Party Accessed Files
A unit of Thomson Reuters detected a cybersecurity incident in 11 U.S. states, the U.S. Virgin Islands and Canada on June 30 involving the company’s C-Track case management platform, according to a notice from the company on Wednesday and a …
Trump Says Iran Strikes to Be Short, Asserts Hormuz Control
President Donald Trump said renewed attacks on Iran would likely be short-lived, reiterating his claim that the US controls the crucial Strait of Hormuz after fresh fighting spiked energy prices and rekindled fears of an open-ended war. Asked on Wednesday …
Floridians Saved Almost $3B on HO and Auto Premiums Last Year, Actuarial Report Finds
Average homeowner insurance rates in Florida did not decline in 2025, but they increased less than 1%, down sharply from the double-digit average increases seen in 2022 and 2023. And auto insurance rates in the state did fall—by 4.1% last …
Berkshire CEO Abel Says AI to Help Power Growth
Berkshire Hathaway CEO Greg Abel said on Wednesday he sees significant opportunities for the conglomerate from the buildout of AI data centers, after Berkshire made Alphabet its third-largest common stock holding. Abel separately said American consumers remain under stress from …
Judge Bars EPA Effort to Send California Vehicle Emissions Rules to Congress
A judge in Washington on Wednesday blocked the U.S. Environmental Protection Agency from sending landmark California vehicle emissions rules for a potential repeal to the Republican-controlled Congress. The four waivers sent by the EPA to Congress for review granted California …
Lloyd’s Reports Improved Combined Ratio on H1 Underwriting Profit of £1.9B
Lloyd’s of London reported an improved first-half combined ratio of 90.8%, (H1 2025: 92.5%), which drove an underwriting profit of £1.9 billion (US$2.6 billion), compared with £1.5 billion (US$2.0 billion) in H1 2025. The major claims ratio improved to 6.8% …
