INSURANCE NEWS
EU Strikes Deal to Weaken Corporate Sustainability Laws
The European Union reached a deal on Tuesday to scale back its corporate sustainability laws, after months of pressure from companies and governments including the United States and Qatar. The changes agreed by EU governments and the European Parliament would …
CSMV Underwriting Launches in Florida: Part Brokerage, Part Program Manager
After seeing some of the frustration that insurance agents run into, the head of a well-known south Florida agency has launched a hybrid vehicle – part brokerage and part program manager. CSMV Underwriting Managers, based in Tamarac, near Fort Lauderdale, …
Archdiocese of New York Pledges $300M to Settle Clergy Sex Abuse Claims
The Archdiocese of New York announced it is establishing a $300 million fund that it intends to use to pay for a global settlement of most of the 1,300 lawsuits it still faces from victims of clergy sexual abuse. The …
Japan Removes Tsunami Warnings After Powerful Quake in North
Japanese authorities ended all tsunami warnings after a powerful magnitude-7.5 quake struck off the coast of Aomori, in the northeast of the country, late on Monday. Waves as high as 70 cm (28 inches) were recorded in the region earlier, …
Swiss Insurer Helvetia Baloise to Cut Up to 2,600 Jobs Following Merger
Newly created Swiss insurer Helvetia Baloise plans to cut up to 2,600 jobs in the coming years to boost profitability, a person familiar with the matter told Reuters on Tuesday. Switzerland’s largest multi-line insurer, with a combined market cap of …
Viewpoint: Mapping Evolving Regulatory Terrain for MGAs, MGUs and Other DUAEs
As the regulatory landscape around the delegated underwriting authority enterprise (DUAE) market evolves, global authorities have introduced stricter compliance measures, risk management expectations and governance frameworks. The increasing alignment with international regulatory standards highlights the trend toward enhanced oversight of …
Register Now for IJ’s ‘AI Tools for Agents’ Demo Day on Dec. 10
Insurance Journal’s Risky Future series will host the “AI Tools for Retail Agents” Demo Day, which offers free AI tool demonstrations designed exclusively for retail insurance agencies. The latest online event offers retail agents an opportunity to evaluate innovative and …
One of Highest Property Claims Severity Recorded in Q3 on Low Volume, Says Verisk
A new report from Verisk has found that property insurance claims volume during the third quarter 2025 was the lowest it has been in the past five years but claims severity during the period was one of the highest in …
JD Power: Full Digital Claims Process Drives High Customer Satisfaction
Receiving adequate digital updates is one of the top drivers of customer satisfaction with the digital insurance claims process, but insurers deliver on this key performance indicator just 22% of the time. Customer satisfaction surges when the claims process is …
Miami’s Housing Supply Shortage Hits Affordability, Codina Says
South Florida faces a growing affordability problem as housing demand outstrips supply, according to Ana-Marie Codina, whose family firm develops master-planned communities in the region. “We definitely need more supply,” Codina said in an interview at a Bloomberg New Voices …
Verlan Files Subro Suit Against Georgia Chemical Plant After $20M Payout on Fire
About 5 a.m. on Sept. 29, 2024, an employee at the Bio-Lab chemical warehouse outside Atlanta heard a popping sound, a tell-tale sign that stored chemicals had come in contact with water and were reacting. Within 90 minutes, the huge …
Excavator Bucket That Crushed Worker Leads to $170K Fine for Washington Contractor
A contractor was fined $170,000 for workplace violations that resulted in a 3,000-pound excavator bucket falling on an employee in southwest Washington. The Rotschy Inc. construction company was hit with $170,000 in fines from the Washington State Department of Labor …