INSURANCE NEWS
WV OIC Accepting Input on American Modern’s 47% Auto Rate Increase Request
The West Virginia Office of the Insurance Commissioner is accepting comments about a proposed 47.38% average increase in auto liability rates filed by American Modern Property and Casualty Insurance Co. About 504 policyholders will be affected. Written comments will be …
Bank Sells Tompkins Agencies to A. J. Gallagher for $223 Million
Tompkins Financial Corp. has closed on the sale of its wholly owned subsidiary, Tompkins Insurance Agencies, Inc. (TIA), to Arthur J. Gallagher & Co. for approximately $223 million in cash. The transaction generates a pre-tax gain of $183 million, the …
Monkey Escape in Mississippi Gives Glimpse Into Secret World of Animal Research
The recent escape of several research monkeys after the truck carrying them overturned on a Mississippi interstate is the latest glimpse into the secretive industry of animal research and the processes that allow key details of what happened to be …
Nation’s Largest Fleet of Police Cybertrucks to Patrol Vegas
The nation’s largest police fleet of Tesla Cybertrucks is set to begin patrolling the streets of Las Vegas in November thanks to a donation from a U.S. tech billionaire, raising concerns about the blurring of lines between public and private …
Hackers and Crime Rings Are Teaming Up to Steal Cargo, Cyber Firm Says
Hackers are infiltrating trucking and freight companies in a scheme to steal and sell cargo shipments, a growing campaign that could end up costing companies and consumers billions of dollars, according to new cybersecurity research. Sunnyvale, California-based Proofpoint Inc. said …
MMA Buys Collector Auto and Motorsports Agency
Marsh McLennan Agency (MMA) announced the acquisition of Hayden Wood Insurance Agency Inc., a Southborough, Massachusetts-based independent agency. Terms of the acquisition were not disclosed. The Hayden Wood Insurance Agency was founded in 1946 by Hayden R. Wood, Sr. upon …
Connecticut Approves Workers’ Compensation Cost Decrease for 2026
Connecticut’s insurance regulator has approved an industry filing that will lower workers’ compensation rates beginning January 1, 2026. The new voluntary market rates will reflect an average 3.8% decrease in loss costs. The rate for assigned risk will fall an …
Insured Losses From Hurricane Melissa Could Reach $4.2 Billion, Verisk Estimates
Insured losses from Hurricane Melissa’s strike on Jamaica are expected to range between $2.2 billion and $4.2 billion, according to estimates from data analytics firm Verisk. The Category 5 hurricane made landfall in southwestern Jamaica last week, the Caribbean nation’s …
Vietnam Flood Deaths Rise as New Storm Tracks Toward Coast
The death toll in Vietnam from last week’s record-breaking downpours has climbed to 37 as another powerful storm bears down on the country’s coast and floodwaters rise again in some tourism hubs. The national weather agency warned that river levels …
Two New Suspects Handed Preliminary Charges in Louvre Jewels Heist: Prosecutor Says
The Paris prosecutor said Saturday two new suspects were handed preliminary charges for their alleged involvement in the crown jewels heist at the Louvre museum, three days after they were arrested by police as part of the sweeping investigation. Laure …
Markets/Coverages: AXA XL Offers Cyber Solution for Europe, APAC Construction Firms
AXA XL announced the launch of a new cyber solution designed to provide construction firms in Europe, Asia and Australia with enhanced protection against the rapidly evolving landscape of cyber threats. Available by endorsement to AXA XL’s cyber insurance coverage, …
People Moves: H.W. Kaufman Group Promotes 16 Across Executive and North American Teams; Howden US Names Dallal EVP, Financial Lines
H.W. Kaufman Group Makes Promotions Across Executive and North American Teams H.W. Kaufman Group, headquartered in Farmington Hills, Michigan, promoted 16 members of its executive and North American teams to new roles. The announcement follows the 2025 Kaufman Leadership Meeting …