INSURANCE NEWS

Kentucky DOI Posts Local Premium Tax Schedule for 2026-2027

The Kentucky Department of Insurance recently posted the local government premium tax schedule for 2026-2027, showing tax rates and fees for more than 400 cities, towns and counties. The tax rate varies considerably from one local jurisdiction to another, the …
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States Across Wildfire-Prone West Are Using AI for Early Detection

On a March afternoon, artificial intelligence detected something resembling smoke on a camera feed from Arizona’s Coconino National Forest. Human analysts verified it wasn’t a cloud or dust, then alerted the state’s forest service and largest electric utility. One of …
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Man Sentenced for Commercial Learner’s Permit Cheating Scam Using Bluetooth

A Boston man was sentenced in federal court for surreptitiously providing answers to exam questions for a person seeking a commercial learner’s permit (CLP). In Massachusetts, a permit is required before obtaining a commercial driver’s license. Frank Castro was indicted …
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AIG Set to Exit Corebridge Financial With $710M Stake Sale

Insurance giant American International Group said on Tuesday it had agreed to sell its remaining stake in life insurance and retirement firm Corebridge Financial, marking the culmination of a five-year separation. Here are some details: AIG has agreed to sell …
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People Moves: NCDOI Names Price Deputy Commissioner Over Company Services

North Carolina’s insurance commissioner has named a financial analysis veteran to the role of senior deputy commissioner, overseeing the Company Services Group at the Department of Insurance. Jessica Price has led financial analysis at NCDOI for 15 years, and before …
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People Moves: Brotherhood Mutual Announces Leadership Promotions & Transition; Assurex Global’s Johnson Named SVP, Global Growth Strategy

Brotherhood Mutual Announces Leadership Promotions & Transition Brotherhood Mutual Insurance Company, headquartered in Fort Wayne, Indiana, made several changes to its executive team. Scott Figgins assumes a new role as senior vice president – integration officer. He previously served as …
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Allianz Commercial Transitions its Standalone Cyber Business to MGA Coalition

Allianz Commercial announced an agreement which transitions its standalone commercial cyber insurance business to Coalition, the managing general agent and specialist cyber insurer. The agreement establishes Coalition as Allianz’s exclusive global partner for cyber insurance across all commercial segments, combining …
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Texas Mutual Board Approves $300M Dividend Distribution

Texas Mutual Insurance Company, the state’s leading provider of workers’ compensation insurance, announced that its board of directors has approved a $300 million general dividend distribution for 2026. This marks the 28th consecutive year Texas Mutual has paid a general …
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Spirit Airlines Shuts Down After 34 Years, Blames Higher Oil Prices

Spirit Airlines, an impish upstart that shook the industry with its irreverent ads and deep discount fares, announced this week that it has gone out of business after 34 years. The ultralow cost airline that once operated hundreds of daily …
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Fire Destroys Lab Building on University of South Florida Campus

Firefighters worked through the night to extinguish a blaze at a laboratory on the University of South Florida campus in St. Petersburg and officials said Sunday that the building could be a total loss. The fire Saturday night prompted evacuations …
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Business Moves: Howden Acquires Cyber Analytics Firm Cybeta

Howden announced it has acquired the intellectual property assets of Cybeta, LLC, a cyber data and analytics provider. Terms of the deal were not disclosed. Howden said the acquisition enables the brokerage to provide clients with faster, more precise insight …
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Florida’s Baldwin Group Brokerage Sees Small Q1 Loss After Busy Merger Year

One quarter after Tampa-headquartered The Baldwin Group purchased CAC Group brokerage and reported a $26 million net loss, the brokerage posted just a $1.9 million loss for Q1 2026. On a per-share basis, Baldwin saw net income of 2 cents. …
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