INSURANCE NEWS
US Personal Lines Outlook Continues to Be Negative: AM Best
The U.S. personal lines insurance industry faces too many daunting challenges, leading AM Best to maintain its negative outlook. The outlook for personal lines was changed to negative in September 2022 – at first due in large part to the …
Confie Acquires Acceptance Insurance
Confie announced the acquisition of Acceptance Insurance’s retail division to its family of brands. The personal lines distribution company said its latest acquisition expands its footprint to 26 states across the U.S. with the retail store additions in Ohio, Pennsylvania …
Winter Weather in Pacific Northwest Cut Power to Thousands in Seattle
Winter weather brought high winds and snow to parts of the Pacific Northwest, knocking out power in some areas and dumping fresh snow across the Cascade Range. Thousands of households were without power Saturday morning in the greater Seattle area …
World Insurance to Purchase Exchange Underwriters From Pennsylvania Bank
Insurance broker World Insurance Associates has agreed to purchase the personal and commercial insurance agency Exchange Underwriters, Inc. from CB Financial Services, Inc., the holding company for Pennsylvania-based Community Bank. According to the asset purchase agreement, World Insurance Associates will …
Wolf-Dog Hybrid Pet Kills 3-Month-Old Child in Alabama
CHELSEA, Ala. (AP) — A 3-month-old boy was killed as his parents tried to rescue the baby from the family pet, a hybrid animal that was part dog, part wolf, authorities said. The boy had been bitten but was alive …
New North Carolina Laws on Rioting, Power Station Attacks, Guns Take Effect
RALEIGH, N.C. (AP) — New or tougher criminal penalties against rioting, vandalizing power stations and harassing law enforcement officers and emergency workers are among North Carolina laws approved this year that took effect Friday. Expanded gun rights at some places …
Massachusetts to Remove 8 Aging Dams for Water Quality, Flood Mitigation, Safety
Eight aging dams in central and western Massachusetts will be removed as part of a $25 million initiative announced Friday by state environmental officials. The structures to be dismantled include the abandoned high-hazard Bel Air Dam in Pittsfield. Removing the …
US Supreme Court Set to Review Purdue Pharma Bankruptcy Settlement
The U.S. Supreme Court on Monday is set to hear a challenge by President Joe Biden’s administration to the legality of OxyContin maker Purdue Pharma’s bankruptcy settlement, a deal that if approved would shield its wealthy Sackler family owners from …
Severe Cyclone May Bring Floods to Parts of Southeast India
A severe cyclone in the Bay of Bengal is likely to cause heavy rain and strong winds across southeast India, with authorities warning of flash floods, damage to crops and power failures in some affected areas. Cyclone Michaung may bring …
Australia Faces Increased Risk From Bushfires Ahead of El Niño Summer
Australia faces an increased risk of bushfires during the approaching summer, authorities warned on Thursday, with the El Niño weather pattern expected to generate hotter and drier conditions across large swathes of the country. Three years of incessant rain has …
Global Regulators Propose Tougher Scrutiny of Voluntary Carbon Markets
A global securities watchdog proposed 21 safety measures on Sunday to improve integrity, transparency and enforcement in voluntary carbon markets (VCMs) in a sector of growing importance to efforts to combat climate change. IOSCO, which groups market watchdogs from Asia, …
Spanish Media Association Files $598M Lawsuit Against Facebook Owner Meta
A group representing 83 Spanish media outlets on Monday said it has filed a 550 million euro ($598 million) lawsuit against Facebook owner Meta Platforms, citing unfair competition in the advertising market. The lawsuit was filed by the AMI newspaper …