INSURANCE NEWS
New Jersey Lawmakers Weigh Future of New Flood Rules
A joint legislative panel took more than four hours of testimony on a proposal to rescind and amend controversial flood rules approved on Gov. Phil Murphy’s last day in office. The discussion was spurred by a resolution sponsored by Senate …
West Virginia Chemical Facility Reaction Kills 2, Injures 20
Two workers were killed and 20 others, including first responders, were injured when a chemical reaction went awry at a silver recovery facility in West Virginia. The reaction and leak happened Wednesday at the Catalyst Refiners plant near Institute, about …
Ex-Credit Suisse Team Plans $1 Billion Fund for Data Center Insurance Risk
A team of former Credit Suisse bankers is preparing to launch a fund they say will offer double-digit returns in exchange for taking on some of the insurance risk tied to data centers. Euler ILS Partners, an alternative investor formed …
PwC Pays $166 Million to Settle HK Evergrande Audit Probe
PricewaterhouseCoopers LLP agreed to pay HK$1.3 billion ($166 million) in fines and compensation to settle investigations into its auditing work for the collapsed property giant China Evergrande Group. Hong Kong’s Accounting and Financial Reporting Council also imposed a six-month suspension …
Beazley Shareholders Approve Zurich’s $10.9 Billion Cash Takeover
London-listed specialty insurer Beazley said on Wednesday shareholders approved Swiss group Zurich Insurance’s 8.1 billion pound ($10.94 billion) all-cash takeover, with 99.9% votes in favor at a meeting held earlier in the day. The acquisition, which follows a series of …
Viewpoint: Middle Market Businesses Are Cutting Costs – But May Be Increasing Risks
When I talk with our agents that serve middle market clients, the same themes consistently emerge: middle market businesses are optimistic, but they’re also fatigued and looking for more than traditional risk transfer from their insurance partners. Many owners are …
People Moves: Goldie to Oversee Nationwide’s Management Liability, Cyber Teams; Former FIO & NAIC Exec. Joins The Council; Smallcombe Appointed CUO, Ascot US
Bobbie Goldie to Oversee Nationwide’s Private Company Management Liability, Cyber Liability Teams Nationwide is tapping insurance industry veteran Bobbie Goldie to oversee the insurance and financial services company’s private company management liability and cyber liability teams. She’ll assume that role …
State Farm Paid a ‘Hail’ of a Lot of Claims in 2025
Providing its annual report of hail-related claims, State Farm said that it paid out $5.6 billion nationally for such claims in 2025, and $1.4 billion in Texas alone. The giant insurer’s report on hail claims includes a list of the …
Roblox Settles With Three States For $35.8 Million Over Child Safety
Roblox Corp. has reached settlements with attorneys general in three states over child-safety protections. As part of the deals, the video game company pledged to curb dangerous interactions on its platform, according to statements from the offices of the attorneys …
Man Pleads Guilty in Crash That Killed Sheriff’s Recruit, Injuring 25 Others in California
A California man pleaded guilty to a wrong-way crash that killed a sheriff’s recruit and injured more than two dozen other recruits. Nicholas Gutierrez, 25, pleaded guilty this week to a fatal wrong-way crash that resulted in the death of …
California Wildfire Risk Bills Cruising Through Legislature
Two bills that are getting bipartisan support aimed at reducing wildfire risk in California are quickly making their way through state Legislature. Senate Bill 894 and Senate Bill 1297, which both address wildfire risk reduction in the state, passed through …
World Insurance Buys Long Island Agency
World Insurance Associates LLC reports that it acquired the business of Baldon Insurance Group of Patchogue, New York. Terms of the January 1, 2026 transaction were not disclosed. Baldon, which was established in 2000, is a Long Island independent agency …