INSURANCE NEWS
People Moves: W.R. Berkley Promotes Albert President of Vela Insurance; Fusion Specialty Names Underhill Head of Americas
W. R. Berkley Corporation, headquartered in Greenwich, Connecticut, named Shadi Albert as president of Vela Insurance Services. He succeeds Arthur G. Davis, who will assume the role of chairman of the business. The appointments are effective immediately. Albert joined Berkley …
New Georgia Workers’ Comp Rules Took Effect in July, Aiming at Clarity, Consistency
The Georgia General Assembly made no statutory changes to the Workers Compensation Act in 2025. However, effective July 1, 2025, the Georgia State Board of Workers’ Compensation (SBWC) has introduced several important updates to its rules. These changes include clarifications, …
Workplace Injuries Costs Near $60B Per Year; Overexertion, Falls Top Causes
Liberty Mutual’s latest Workplace Safety Index has found that workplace accidents cost U.S. employers about $58.8 billion annually. The top 10 causes of injuries account for 86% of those costs, or $50.87 billion. The index marks its 25th year identifying …
KBRA Upgrades AmCoastal Debt Ratings, Reducing Interest Expenses
One year after American Coastal Insurance went through a regulator-forced shakeup in leadership, the Florida-based carrier’s holding company has received a slight upgrade in its debt rating from KBRA, producing a savings on interest expenses. “We are proud to have …
Alaska Air Resumes Flights After IT Outage Led to Grounding
Alaska Air Group Inc. continued to recover on Monday after temporarily grounding its entire fleet due to a data center equipment failure that affected several of the carrier’s key operating systems. Eighty-three Alaska Air flights, or about 9% of its …
Woman, 66, Is 10th Person to Die After Massachusetts Assisted-Living Facility Fire
A tenth person has died after a fire that tore through an assisted-living facility in Massachusetts last weekend, officials confirmed on Saturday. Brenda Cropper, 66, died at a hospital Friday, according to Bristol County District Attorney Thomas M. Quinn III. …
Trump Sues Wall Street Journal and Murdoch for $10B Over Reporting on Epstein Ties
President Donald Trump filed a $10 billion lawsuit against The Wall Street Journal and media mogul Rupert Murdoch Friday, a day after the newspaper published a story reporting on his ties to wealthy financier Jeffrey Epstein. The move came shortly …
WR Berkley Q2 Net Income Up Near 8% on Underwriting, Investments
Second quarter 2024 net income at W.R. Berkley Corp. increased nearly 8% compared to the same period a year ago Net income was about $401.3 million for Q2 2025 compared to net income of $371.9 million a year ago during …
Uber Alleges Inflated Injury Bills in Los Angeles Insurance Fraud Lawsuit
Uber Technologies Inc. is suing a group of lawyers and medical providers in Los Angeles who it says have made fraudulent insurance claims that cost the company millions in legal fees — the third such lawsuit it’s filed this year. …
What’s in the EU’s 18th Sanctions Package Against Russia?
Here are the details of the European Union’s 18th package of sanctions against Russia over its war in Ukraine, approved on Friday and aimed at dealing further blows to Russia’s oil and energy industry. OIL PRICE CAP Central to the …
Iowa Public Adjuster Charged With Forgery and Identity Theft
A Bettendorf, Iowa insurance public adjuster has been charged with forgery and identity theft, the Iowa Insurance Division (IID) announced. Dennis Flaherty, age 74, of Moline, Illinois, was charged with one count of Forgery (Class D felony) and three counts …
AM Best Revises Outlook to Negative for Wisconsin’s Society
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Society Insurance, a mutual company based in Fond du Lac, Wisconsin. …