INSURANCE NEWS
Lockheed to Pay $30M to Settle Trump Administration Claims Over DEI Practices
Lockheed Martin has agreed to pay nearly $30 million to settle claims by President Donald Trump’s administration that the defense contractor discriminated against white workers through its workplace diversity, equity and inclusion (DEI) policies, according to two federal agencies. The …
Is El Niño Making Storms And Flash Floods in The Southwest Worse?
A chaotic climate phenomenon is intensifying heavy rains and floods in the Southwest, experts say. A natural warming cycle called El Niño is sizzling Pacific Ocean waters, leaking moisture into the air that can fuel passing storms. Such El Niño …
People Moves: Allianz Commercial Appoints Swepson as West Zone Distribution Leader
Kenji Swepson joined global insurer Allianz Commercial as the west zone distribution leader and wholesale strategic relationship leader. Based in Los Angeles, Swepson reports to John Gambale, chief distribution officer, Americas, and is responsible for driving client and broker relationships …
Allstate Q3 Net Income Drops About 45% on Higher Catastrophe Losses
Allstate Corp. third quarter 2026 net income applicable to common shareholders dropped nearly 45% with underwriting income down about up 56.7% during the period. Net income was about $3.2 billion for Q2 versus about $2.1 billion for Q3 2025. Underwriting …
South Dakota Aquifers in Decline, Threatening Fresh Water Supplies
Geologists and hydrologists can use scientific charts and graphs to understand the increasing water challenges facing South Dakota, but it only takes a brief visit to Bear Butte State Park near Sturgis for a non-scientist to see the outcome of …
State of Emergency Declared After Flooding, Two Deaths on Florida’s East Coast
Florida’s governor declared a state of emergency for seven counties after three days of extreme rainfall caused flooding in Brevard, DeSoto, Hardee, Highlands, Indian River, Martin and St. Lucie counties. The “1-in-1,000-year” event, as it was described by the National …
Oklahoma Approves 4.8% Decrease in Workers’ Comp Loss Costs
Oklahoma Insurance Commissioner Glen Mulready announced that the Oklahoma Insurance Department (OID) has approved a 4.8% decrease in workers’ compensation insurance loss costs for 2027. This reduction means lower premiums for many Oklahoma businesses. Loss costs are an industry measure …
Sullivan Wins Oklahoma Insurance Commissioner Race
Republican Bob Sullivan won the Oklahoma Insurance Commissioner’s race on Tuesday. Sullivan earned 59% of the vote, defeating Democrat Craig MacIntyre. Sullivan said on social media that voters “demanded fairness, transparency and accountability from their insurance commissioner.” Oklahoma faces some …
Lemonade Launches Renters Insurance in Minnesota
Lemonade announced the availability of its renters insurance in Minnesota. With this launch, Lemonade’s renters insurance is now available in all 50 states and Washington, D.C., making it the first Lemonade product offered nationwide, the company said. Lemonade Renters coverage …
Lloyd’s of London Forms New Oversight Arm in Efficiency Push
Lloyd’s of London is restructuring the way in which it oversees the insurance market as part of its new chief executive officer’s plan to make the risk hub more efficient. The firm is bringing all elements of oversight, including governance, …
Florida Passes Property Tax Cuts in Challenge for Local Funding
Florida voters passed sweeping property tax cuts in Tuesday’s election, a move that will gut local government funding. Amendment 3, the brainchild of outgoing Governor Ron DeSantis, will lower property taxes for primary residences by increasing the portion of their …
Georgia, Florida Insurers Facing New Scrutiny, Regulations After Election
Property-casualty insurance carriers in Georgia and Florida are bracing for new scrutiny and new limits on rate taking after new top state officials were elected Tuesday night. In Georgia, former state legislator and Atlanta City Council member Keisha Sean Waites …