INSURANCE NEWS
Wall St Regulator to Consider Crypto Token Classification, Chair Says
The head of the U.S. Securities and Exchange Commission said the agency would soon consider establishing a classification for digital assets to help determine when they can be considered securities. “In the coming months, I anticipate that the Commission will …
Biggest NJ Health Insurer to Pay $100 Million in Whistleblower Suit
Horizon Blue Cross Blue Shield of New Jersey agreed to pay $100 million to resolve allegations that the health-insurance company had ripped off taxpayers by overpaying for care, in a pact made public on Friday. The settlement with New Jersey …
Kentucky Scrapyard Workers Describe UPS Plane Crash That Destroyed Their Business
Supervisor Adam Bowman was loading metal onto a truck at a scrapyard just south of the Louisville, Kentucky, airport when he heard what he first thought was a transformer explosion and quickly realized was more horrific. “I turned around and …
Florida Approves 6.9% Average Cut in Workers’ Comp Rates But Roofers Are Worried
Florida’s insurance commissioner has approved a 6.9% average decrease in workers’ compensation rates for the voluntary market for 2026, marking the ninth straight year of rate cuts in the state. The average rate reduction will be for new and renewal …
Trump’s FEMA Chief Resigns After 6 Months, Washington Post Says
The Trump administration’s top official at the Federal Emergency Management Agency is departing his post after about six months on the job, according to the Washington Post. David Richardson resigned on Monday as FEMA’s acting head, the newspaper reported, citing …
World Insurance Associates Acquires Reinig in Colorado
World Insurance Associates LLC acquired the business of Reinig Insurance Solutions in Lakewood, Colorado. Reinig Insurance Solutions specializes in providing property/casualty products and services to the health and fitness industry. World Insurance Associates is a headquartered in Iselin, New Jersey, …
California Judge Enables Tesla to Undo Race Bias Class Action by Black Factory Workers
A California state judge has ruled that 6,000 Black workers at Tesla’s flagship assembly plant cannot sue over alleged racial harassment as a class, reversing an earlier ruling in a major victory for CEO Elon Musk’s electric vehicle maker. California …
Nonstandard Auto Insurers Continue Profit Momentum in 2025: AM Best
The nonstandard auto insurance market in 2025 certainly looks to be maintaining the momentum it gained last year, according to a new report from AM Best. The insurance industry rating agency said U.S. private passenger nonstandard auto insurers turned in …
Google, Meta Delay Red Sea Cables as Security Risks Rattle Plans
Multiple subsea internet cables slated to run through the Red Sea are yet to complete as planned, as political tensions and heightened security threats have made the route more dangerous and complicated for commercial vessels. Meta Platforms Inc.’s 2020 plans …
K2 and Dale Get ‘In Principle’ Nod From Lloyd’s to Launch Syndicate 1954
Dale Underwriting Partners, the trading name for Dale Managing Agency Ltd.’s Lloyd’s Syndicate 1729, and K2 Insurance Services, an independent MGA platform, have received “in principle” approval from Lloyd’s to launch Syndicate 1954. Operating as a special purpose arrangement (SPA), …
Los Angeles Showers Wane After Record Southern California Rain
Showers will be winding down across Los Angeles and Southern California after record rains brought raised the risks of floods and mudslides, especially in areas scorched by recent wildfires. Downtown Los Angeles received 1.65 inches Saturday, a record for the …
Businessman Accused in Trafigura Nickel Nightmare Goes on Trial
More than two years after it emerged that Trafigura Group lost over half a billion dollars in an alleged nickel fraud, a trial began as the trading giant attempts to recover losses from the man it says was behind the …