Insurance
Trump Bid to Defund CFPB Is Crippling the Agency, States Say
The Trump administration is illegally trying to cripple the Consumer Financial Protection Bureau by refusing to ask the Federal Reserve for funds needed to run the independent regulator, a group of mostly Democratic-led states said in a federal lawsuit. CFPB …
Read More Markets/Coverages: Mosaic Raises Cyber Capacity to US$25M in Canadian Market
Mosaic Insurance will increase its cyber-risk capacity to US$25 million/C$40 million per risk in Canada, effective January 1, 2026, allowing the specialty insurer to meet rising demand across all provinces and territories. The increase more than doubles Mosaic’s previous limit …
Read More Hawaii Building Fires Are on the Rise and Safety Inspections Aren’t Keeping Up
Regular inspections of hotels and other accommodations required by the state of Hawaii are being inconsistently carried out by most county fire departments. Three people died in two structure fires in Hilo on Hawaii island in October and November in …
Read More Breaking: Senators Launch Probe Into Demotech’s Ratings in Florida
Three US senators opened an inquiry into insurance ratings firm Demotech and whether its assessments may be exposing Fannie Mae and Freddie Mac — and ultimately taxpayers — to growing risks tied to climate-driven insurer failures. In a letter sent …
Read More AM Best Places Jet Insurance Ratings Under Review Following Acquisition
AM Best has placed under review with developing implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Jet Insurance Company, following the close of the acquisition of Jet by Amherst Specialty …
Read More 50% Rule: TN Supreme Court Finds Driver Due Knee Replacement Despite Arthritis
It’s an age-old question that continues to come up for workers’ compensation insurers around the country: When is an injury an aggravation of an existing condition, and when is it compensable, perhaps requiring expensive surgery and more? The Tennessee Supreme …
Read More Alabama, NC Set Hearings on Proposed Capital Requirements, Dwelling Rate Increase
Regulators in two Southeastern states will hold hearings early next year, one on a proposed steep dwelling insurance rate increase in North Carolina, and another on new capital requirements for insurers in Alabama. The Alabama Department of Insurance scheduled a …
Read More People Moves: CRC Adds Duff, Gallien, Jr. to Specialty Team
CRC Group, an independent wholesale specialty insurance distributor, announced additions to its expanding CRC Specialty division. Matthew Duff has joined in Little Rock as an underwriting team leader, bringing over a decade of experience in homeowners, personal lines, and excess …
Read More Michigan Regulators Approve State’s First Hyperscale Data Center
Despite criticism that they were acting too fast, state utility regulators last week approved DTE Energy’s proposal to supply power for Michigan’s first hyperscale data center — while tacking on a host of conditions that aim to protect ratepayers from …
Read More China’s Kuaishou Shares Fall to Near Five-Week Low After Livestreaming Cyberattack
Shares of Kuaishou dropped by as much as 6% on Tuesday to HK$62.70 ($8.06), their lowest since November 21, after the Chinese short video platform was hit by a cyberattack on Monday night. The stock is set for its biggest …
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