INSURANCE NEWS
10 Highest Class-Action Settlements in 2025 Eclipsed $70B: Duane Morris
The value of the 10 highest class-action settlements in 2025 exceeded $70 billion for the first time ever. In fact, the total was nearer to $80 billion across all areas of litigation, according to law firm Duane Morris. For the …
Storm Goretti to Hit Europe With Heavy Snow, Violent Winds
A winter storm is set to lash northern Europe with hurricane-force winds, along with heavy rain and snow as it moves through the region late on Thursday and Friday. Storm Goretti is expected to gather energy as low pressure deepens …
Florida Insurance Agency VP Sentenced to 3 Years in Massive ACA Fraud Scheme
A federal judge sentenced a Pembroke Pines insurance broker to almost three years in prison and millions of dollars in restitution for leading a scheme that fraudulently enrolled thousands of people—many of them homeless—in Affordable Care Act health insurance plans. …
Two Killed in South Carolina When Scissor Lift Hit Power Lines
Two utility workers in North Charleston were killed when the scissor lift they were using struck live power lines, causing a fire. Local news outlets reported that witnesses said the 25-year-old men, working at night Jan. 6, did not have …
Duffy Pulls $160 Million From California Over Truck Licenses
The U.S. Department of Transportation is withholding about $160 million from California after the state delayed canceling thousands of commercial driver’s licenses that regulators say were issued illegally. Transportation Secretary Sean Duffy said Wednesday that the Federal Motor Carrier Safety …
Newsom Plans Crackdown on Corporate Homebuying in California
California Gov. Gavin Newsom will call for a crackdown on institutional investors buying up homes in the state during a speech Thursday, following a similar announcement by President Donald Trump. Newsom plans on saying he will work with local legislators …
Nearly Half of 100 Largest P/C Insurers Destroy Value: ACORD
“Sustainable value creators” among the 100 largest property/casualty insurance carriers generated more than twice as much of their value through underwriting than through investment activities over a 20-year study period, according to a new analysis from ACORD. In addition, in …
Bridge Specialty Acquires Pennsylvania Wholesale Broker
Bridge Specialty Group, a subsidiary of Florida-based Brown & Brown, Inc., has acquired the assets of Shoemaker & Besser, a managing general agent and wholesale insurance brokerage located in York, Pennsylvania. The announcement said that Shoemaker & Besser team will …
Progressive Approved for Personal Auto Rate Decreases in Louisiana
Louisiana Insurance Commissioner Tim Temple has approved Progressive Security Insurance Company’s request for a 6.6% average rate decrease on its over 270,000 private passenger auto insurance policyholders and Progressive Paloverde Insurance Company’s request for a 4% average decrease on its …
Blenheim Partnerships Launches Specialty Trade-Related MGA
Blenheim Partnerships, part of the White Bear Group, today announces the launch of its specialty trade-related managing general agency. The MGA is backed by Blenheim Underwriting alongside other well-known markets, including some Lloyd’s syndicates. The launch follows the appointment of …
Octave Ventures’ Statera Gets Approval to Be Lloyd’s Managing Agent
Statera Managing Agency Ltd. announced it has received regulatory approval to act as a Lloyd’s managing agent. Statera will manage Syndicates 4242 and 1416, which currently underwrite specialty risks produced through its strategic relationship with Octave Ventures, a division of …
Intruder Causes $28K in Damage at Vice President Vance’s Ohio Home
A man who broke windows at Vice President JD Vance’s Ohio home and caused other property damage was detained early Monday, the U.S. Secret Service said. William D. DeFoor, 26, is facing federal charges for allegedly damaging government property, engaging …