INSURANCE NEWS

Chinese Freighter Halves EU Delivery Time on Maiden Arctic Voyage to UK

A Chinese container ship has completed a pioneering journey through the Arctic to a UK port, state-run news agency Xinhua reported, cutting in half the usual transit time for the electric vehicles and solar panels aboard destined for Europe. The …
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Former NFL Players, Country Singer Lend Names to Georgia-Based Concierge Launch

Two former professional football players, a country music artist and a college athletics administrator have put their names, images and likenesses behind a new, concierge insurance program for high net-worth individuals, athletes, entertainers and businesses. “There were times during my …
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Gaps in Awareness of HO Coverage Provides Opportunity for Agents: Survey

Many U.S. homeowners are missing important insurance protections, offering opportunities for agents to educate insureds on increasingly essential coverages. A new survey commissioned by The Hanover Insurance Group found many homeowners are exposed to growing risks, such as lawsuits, cybercrime …
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LA County Officials Approved Emergency Declaration Over Immigration Raids

Los Angeles County officials voted this week to declare a state of emergency that gives them power to provide assistance for residents they say have suffered financially from ongoing federal immigration raids. The move allows the L.A. County Board of …
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People Moves: Fast Joins Alliant Team in Maine

Alliant Insurance Services, headquartered in Irvine, California, named Rob Fast as executive vice president (EVP) within its employee benefits group. He will be based in Portland, Maine. Fast has decades of experience. His career spans product development, distribution, portfolio management …
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TDI Drafts New Rule Requiring Appraisal Provision in Auto and Homeowners Policies

The Texas Department of Insurance recently published an informal draft of rules that would implement a new law requiring all personal auto and residential property insurance policies to include a binding appraisal provision. The draft outlines appraisal timelines, appraiser and …
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Marsh McLennan Reports 4% Organic Revenue Growth, Down From Q3 2024

Marsh McLennan reports consolidated revenue during the third quarter of $6.4 billion, an increase of 11% over Q3 2024, or 4% on an underlying (organic) basis, down from 5% during Q3 2024. John Doyle, president and CEO, described the Q3 …
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Storm System Threatens Central and Southern US With Hail and Damaging Winds

As many as 22 states face the risk for severe thunderstorms, hail and damaging wind gusts over the next several days, meteorologists say. A front over the Central/Southern Rockies is expected to move northeastward, producing showers and thunderstorms over parts …
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NAMIC to Federal Lawmakers: Do Your Job on Flood Insurance Program

Two weeks into the expiration of the National Flood Insurance Program, one of the insurance industry’s trade associations is once again calling for a reauthorization. The National Association of Mutual Insurance Companies (NAMIC) on Oct. 16 issued a statement directed …
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Texas Legislature Forms Committees to Investigate July Deadly Floods

Top Republicans in the Texas Legislature have announced the creation of committees tasked with “getting to the bottom of” the July flooding that killed more than 130 people, including 25 young girls and two teenage counselors at Camp Mystic. Lt. …
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Arthur J. Gallagher & Co. Acquires Michigan’s Strategic Services Group

Arthur J. Gallagher & Co. announced the acquisition of Rochester Hills, Michigan-based Strategic Services Group, Inc. Terms of the transaction were not disclosed. Strategic Services Group provides employee benefits consulting services across a range of industries in Michigan and the …
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Natural Disaster Claims in 2025 to Again Top $100B Despite ‘Abnormally Low’ Q3 Events

Global insured losses from natural catastrophes during the first nine months of 2025 are estimated to hit US$105 billion, bringing the sixth consecutive calendar year with losses topping US$100 billion and the eighth year since 2017, according to Gallagher Re. …
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