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INSURANCE NEWS
NHTSA Ends Probe Into Tesla Remote Driving Feature After Software Updates
The U.S. National Highway Traffic Safety Administration said on Monday it closed a probe into nearly 2.6 million Tesla vehicles over a feature allowing users to move cars remotely after finding it was linked only to low-speed incidents. The agency …
DOXA Buys Florida-Based Jupiter Underwriting Group
Indiana-headquartered DOXA, a specialty insurance firm built on acquiring and growing program administrators and MGAs, has expanded into Florida with the acquisition of Jupiter Underwriting Group. The group is a managing general agent that specializes in admitted umbrella and follow-form …
US, Iran Study Ceasefire Plan as Deadline Nears on Trump’s ‘Hell’ Threat
The United States and Iran on Monday were weighing the framework of a plan to end their five‑week-old conflict, even as Tehran pushed back against pressure to swiftly reopen the Strait of Hormuz on the eve of a new ultimatum …
Georgia Lawmakers to Let Property Owners File Claims Over Homeless, Immigrants
Georgia lawmakers passed a bill early Friday that would allow property owners to file claims against local governments if the individual believes policies that ban people from sleeping outside and require law enforcement to cooperate with federal immigration authorities were …
AM Best Upgrades Credit Ratings of Federated Mutual
AM Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to “aa” (Superior) from “aa-” (Superior) and affirmed the Financial Strength Rating (FSR) of A+ (Superior) of Federated Mutual Insurance Company and its pooled subsidiaries, Federated Service Insurance Company, …
Old Republic Forms New Specialized Property Insurer
Old Republic International Corporation is forming a new operating company, Old Republic Property Inc., to underwrite specialized property insurance products through a national retail broker distribution network, the company announced on Monday. The company will be led by Patrick Hagerty …
Vehicle Hits Revelers During Lao New Year Celebration in Rural Louisiana
Several people were injured when a vehicle struck revelers at a parade celebrating the Lao New Year on Saturday in rural Louisiana, authorities said. The driver was quickly arrested and charged with impaired driving, police said. Video shared on social …
EPA, HHS to Monitor Drinking Water for Microplastics and Pharmaceuticals
The U.S. Environmental Protection Agency and Department of Health and Human Services announced that they will monitor the impact of microplastics and pharmaceuticals on drinking water, the first step toward assessing their health risks and shaping new policies. The joint …
Old Republic Opens New Company for Specialty Property
Old Republic International Corporation said it is forming a new operating company, Old Republic Property, Inc., to underwrite specialized property insurance products through a national retail broker distribution network. The company will be led by Patrick Hagerty as president. Hagerty …
US Doubles Hormuz Reinsurance Guarantees to $40 Billion With New Partners
The US is doubling, to $40 billion, its commitment to provide reinsurance guarantees to ships willing to travel through the Strait of Hormuz with the addition of new insurance partners, including AIG and Berkshire Hathaway. The move announced Friday is …
March Sadness: 20,00 New England Customers Lose Out on $50 Million in Refunds
The University of South Carolina women’s basketball team saved the insurer for a New England furniture company millions of dollars by beating the University of Connecticut team 62-48 last Friday night. At the same time, 20,000 New Englanders missed a …
Private Credit Sector Stresses Could Be Catastrophic, but Not Just Yet
Some investors think private credit is a tempest in a teapot. Others think it is about to spark a new financial crisis. Depending on the time horizon, both sets of views about the esoteric sector may be right. Signs of …
