INSURANCE NEWS
Vanguard Settles Collusion Suit for $29.5 Million
Texas said Vanguard Group Inc. agreed to pay a total of $29.5 million to settle a lawsuit brought by a dozen states that accused the asset manager of colluding to manipulate the energy market and reduce coal output. As part …
Ford Recalling 4.3 Million US Vehicles Over Software Issue
Ford Motor Thursday it is recalling 4.3 million pickup trucks and SUVs in the U.S. because a software error may cause trailer brakes not to function and exterior lights to fail. The U.S. automaker said the recall covers the 2021 …
Walmart to Pay $100 Million to Settle FTC Case on Driver Wages
Walmart Inc. agreed to pay $100 million Thursday to settle a lawsuit by the US Federal Trade Commission and a group of states alleging the company withheld tips and misrepresented wages to drivers who deliver orders as part of its …
Hacker Used Anthropic’s Claude to Steal Mexican Data Trove
A hacker exploited Anthropic PBC’s artificial intelligence chatbot to carry out a series of attacks against Mexican government agencies, resulting in the theft of a huge trove of sensitive tax and voter information, according to cybersecurity researchers. The unknown Claude …
People Moves: Byrd Joins Alliant as Employee Benefits SVP in North Carolina
Byrd Joins Alliant as Employee Benefits SVP in North Carolina Backed by over 25 years of experience, Steve Byrd joined Alliant Insurance Services, headquartered in Irvine, California, as senior vice president within its employee benefits group. Based in North Carolina, …
State Farm Inked $1.5B Underwriting Profit for 2025 but HO Loss Persists
State Farm reported an underwriting gain of $1.5 billion for its property/casualty businesses in 2025, representing a turnaround from an underwriting loss of more than $6 billion in 2024—and more than $10 billion of underwriting losses in each of the …
Fidelis Insurance Group to Rebrand as Pelagos Insurance Capital in 2026
Fidelis Insurance Holdings Ltd., the Bermuda-based risk selector in specialty insurance and reinsurance, announced it intends to change its name to Pelagos Insurance Capital Ltd. It is expected to begin trading under the new ticker symbol (NYSE: PLGO) in May …
Minnesota Resolves Suit Against Fleet Farm for Negligent Firearm Sales
Minnesota Attorney General Keith Ellison announced that he has resolved the October 2022 lawsuit he filed on behalf of the State of Minnesota against retail chain Fleet Farm for negligently selling firearms to straw purchasers. The consent judgment with Fleet …
‘Meaningful Decline’ in Industry Q1 Underwriting Profit Expected From Winter Storms
Another tough first quarter is in store for insurers when it comes to catastrophe losses—though not as severe as a year ago from the California wildfires. According to industry rating agency AM Best, insurance losses from the two major winter …
Relation Acquires Illinois’ Thorn Creek
Relation Insurance Services announced their acquisition of the assets of Thorn Creek Insurance Services Inc. The transaction went into effect on January 31, 2026; terms of the transaction were not disclosed. Headquartered in Springfield, Illinois, Thorn Creek entered the property …
Families of Flood Victims Texas Over Camp Mystic Disaster Response
Texas health officials failed to follow state law when they licensed Camp Mystic without making sure it had an evacuation plan, parents of nine children and counselors who died in the July 4 flood allege in a new federal lawsuit. …
Lead Detected in New Orleans Homes Amid Delayed Pipe Replacement
Each morning, Katherine Prevost fills her coffee maker with water from her kitchen faucet and presses the button. Until recently, she didn’t know the water may have contained a potent neurotoxin — lead. She was shocked when a water test …