INSURANCE NEWS
Changes in Policy Language, Provisions Suppressing Claim Volume, Report Shows
U.S. claim volume fell 8.9% from last year, with total claims dipping 13.1% below the five-year average, despite several large catastrophe events, said a new report. Changes in policy language and policy provisions are a big factor in suppressing the …
Clash of Florida Titans Pits Powerful Tribe Against Homebuilder Lennar
Ciara Billie was about to step into the shower of her newly built townhome on the Hollywood Seminole Reservation in South Florida when her ceiling began to crumble and an air-conditioning vent crashed down on her toilet. For months, Billie …
Business Moves: ALKEME Expands in US With Addition of 8 Agencies
Insurance agency ALKEME Insurance said it acquired eight agencies across the U.S. over the second quarter 2026 to enhance its property/casualty offerings in growing markets. Terms of the deals were not disclosed. The newly acquired firms include: LG Insurance (Long …
Wildfire Risk Rises Across US West as Winds, Dry Lightning Build
Strong winds and dry thunderstorms are raising the risk of fast-moving wildfires across much of the U.S. West, where forecasters warned conditions will favor new ignitions and rapid fire spread through Thursday. An elevated fire-weather outlook, Level 1 on the …
Labor Crunch Tests Growth Limits for US Data Center Builders
Following several quarters of record order books, a skilled-labor shortage is testing the limits of growth for the craft-labor providers who build data centers across the US. While some executives have downplayed the strain, others acknowledge that a lack of …
3 Firefighters Killed in Colorado Remembered for Bravery
With wildfires burning across many Western states, wildland firefighters gathered to pay tribute to three of their own who died after they were trapped by flames a week ago. Emily Barker, Nick Hutcherson and Sydney Watson were remembered on Sunday …
Connecticut Seeks Consultant to Explore Nonprofit Liability Insurance Options
The Connecticut Insurance Department (CID) is seeking a consultant to conduct a study and present options to improve the liability insurance market for nonprofit organizations operating in the state. A report issued in January by a working group of legislators, …
Damaged Qatari LNG Tanker Awaits Salvage After Strike as Hormuz Risks Escalate
A Qatari LNG tanker was still stuck off Oman on Wednesday awaiting salvage operations, shipping data showed, a day after it was hit by a projectile, while the U.S. military said two other tankers had been targeted by Iran in …
Allianz Unit to Cut as Many as 1,800 Jobs in Push to Adopt AI
Allianz SE plans to eliminate hundreds of positions at its assistance and travel insurance subsidiary Allianz Partners as the company pushes forward with implementing artificial intelligence solutions. The cuts, which they expect to take the forms of severance agreements, early …
Developer Downplays Structural Concerns at ‘Unstable’ Midtown Manhattan Tower
The structural concerns that led New York City officials to shut down a Midtown Manhattan high-rise and evacuate surrounding buildings are “very small,” said Nathan Berman, the chief executive officer of Metro Loft, which is leading the project to convert …
NYC Is Racing to Secure Unstable Midtown Manhattan Building
New York City officials were racing to stabilize a high-rise building in the heart of Manhattan after cracks developed in multiple columns and floors began to sag, leading to the evacuation of nearby office buildings and a school during the …
London Moves to Expand Influence in $140 Billion ILS Market
The world’s biggest hub for commercial and specialty risk is angling for a much more prominent role in the $140 billion global market for insurance-linked securities. Issuance of ILS products, currently dominated by Bermuda, is witnessing a stunning surge in …