INSURANCE NEWS
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 …
German Minister Says EU Must Take Legal Steps to Stop Grok’s Sexualized AI Photos
The EU Commission must take legal action to stop the “industrialization of sexual harassment” taking place on Elon Musk’s social media platform X, Germany’s media minister, Wolfram Weimer, told Reuters on Tuesday. With his comments, Weimer joins a chorus of …
Australian State Faces Catastrophic Fire Risk From Heat Wave
Australia is bracing for catastrophic fire risk in parts of Victoria on Friday as the country swelters through its worst heat wave since the Black Summer bushfires in the summer of 2019 and 2020. Temperatures rose above 45C (113F) in …
Tesla Door Design Is Targeted by New US Automotive Safety Bill
A US lawmaker is proposing legislation that would require manual door releases in new cars, a move to address growing safety concerns with the type of electrically powered handles popularized by Tesla Inc. The measure from Representative Robin Kelly, an …
Nestle Infant Formula Recall Widens to Africa, the Americas and Asia
Nestle’s recall of some batches of infant nutrition products has widened beyond Europe to Africa, the Americas and Asia, including Brazil, China and South Africa, a tally from the company and national food safety statements show. No illnesses have yet …
German Dentists’ Fund Sues Advisers Over €1.1 Billion Loss
A German pension fund whose foray into private markets led to losses that totaled half of the fund’s assets has begun legal proceedings against its former auditor, an adviser and its own managers to recover the damages. The fund known …
People Moves: Roxborough Named 2026 CHSWC Chair
The California Commission on Health and Safety and Workers’ Compensation elected CHSWC Commissioner Nicholas Roxborough as the chair of the commission for 2026. Roxborough is the managing partner of Roxborough, Pomerance, Nye & Adreani, LLP. He specializes in representing insured …
Berkshire Hathaway Raises New CEO Abel’s Salary to $25 Million
Berkshire Hathaway said Jan. 6 that it raised the salary of new Chief Executive Greg Abel to $25 million, far exceeding the $100,000 annual salary that his predecessor Warren Buffett accepted for more than four decades. Abel, 63, became chief …
Germania Insurance Places First Cat Bond Through Handshake Re
Germania Insurance announced the placement of its first catastrophe bond, issued through Handshake ReLtd., as part of the company’s broader reinsurance and capital management strategy. The transaction became effective Jan. 1, 2026. The catastrophe bond provides $100 million of per …
The MEMIC Group Closes Acquisition of The Dakota Group
The MEMIC Group announced the successful closing of its acquisition of The Dakota Group, including Risk Administration Services, Inc. and its affiliated service companies. The strategic combination positions MEMIC as the third-largest multi-state workers’ compensation specialist in the United States, …
California Bill Would Require Insurer Claims Handling Plans, And Double Penalties
A bill that promises legislative reform in California to speed up disaster recovery for homeowners and renters through improved insurance coverage and expanded consumer protections was introduced on the anniversary of the Los Angeles wildfires. The Disaster Recovery Reform Act, …
Trump’s Oil Push Widens With Seizure of Russian-Flagged Tanker Linked to Venezuela
The U.S. seized an empty Russian-flagged, Venezuela-linked oil tanker in the Atlantic Ocean on Wednesday as part of President Donald Trump’s aggressive push to dictate oil flows in the Americas and force Venezuela’s socialist government to become an ally. After …