INSURANCE NEWS
Truckers Fear Job Loss as New English Language Rules Take Effect
At a trucking school in New Jersey, students are maneuvering 18-wheelers around traffic cones. Other future drivers look under hoods to perform safety checks, narrating as they examine steering hoses for cracks and leaks. An instructor glides between speaking Spanish …
New Carrier Reporting Requirements on Investments, Liquidity, SC DOI Says
South Carolina’s Department of Insurance is reminding carriers that it may soon give extra scrutiny to liquidity and capital as well as investments in subsidiaries’ securities, thanks to a law approved by state legislators this year. “If the Director determines …
WCIRB: Losses And Expenses in California Workers’ Comp Last Year 108% of Earned Premium
Total losses and expenses in California’s workers’ compensation system incurred in 2024 were $16.7 billion, or 108% percent of earned premium, a report out today shows. The Workers’ Compensation Insurance Rating Bureau of California released the 2024 California Workers’ Compensation …
Senate Strikes AI Regulation Ban From Trump Megabill
The Republican-led U.S. Senate voted overwhelmingly on Tuesday to remove a 10-year federal moratorium on state regulation of artificial intelligence from President Trump’s sweeping tax-cut and spending bill. Lawmakers voted 99-1 to strike the ban from the bill by adopting …
Homes Are Taking Longer to Sell in US Markets That Once Flourished
A buildup of unsold houses sitting on the market for weeks is becoming a new reality in once-booming housing areas across the Sun Belt. Real estate agents in the South and Southwest say they’re seeing more people list homes, giving …
New Hampshire to Offer Mobile Driver’s Licenses
New Hampshire residents will soon be able to carry an electronic version of their driver’s license in their cell phones or other devices, although they will still have to also keep a physical license on their person while driving. Legislation …
Howden Re Names Elliot Richardson Executive Chair as Rod Fox Steps Down
Howden Re, the global reinsurance, capital markets and strategic advisory arm of Howden, announced that Rod Fox is stepping down as executive chairman and is leaving the business. He is succeeded by Elliot Richardson, who steps into the role with …
Severe Heatwave Grips Europe – Spurring Health Alerts, Raising Risk of Field Fires
More than a thousand schools were closed in France on Tuesday and the top floor of the Eiffel Tower was shut to tourists as a severe heatwave continued to grip Europe, triggering health alerts across the region. The Mediterranean Sea …
‘Bomb Cyclone’ Pummels Sydney With Heavy Rains, Winds
A “bomb cyclone” has lashed Australia’s most populous state with heavy rain and strong winds, forcing airlines to cancel domestic flights and prompting evacuation warnings in coastal communities. Authorities on Tuesday warned that parts of New South Wales could also …
BNP Paribas Completes Acquisition of AXA’s Asset Management Unit
BNP Paribas SA has finalized its purchase of AXA SA’s investment unit, creating one of Europe’s largest asset managers. The newly formed business will have more than €1.5 trillion ($1.8 trillion) in assets under management, according to a release from …
India’s Sigachi Factory Fire Death Toll Rises to 39; Cause Still Unknown
HYDERABAD, India –– The death toll from the explosion and fire at Sigachi Industries’ chemical factory in southern India has risen to at least 39, officials said on Tuesday, forcing the supplier of pharma products to shut operations for 90 …
China Enlists Commercial Insurers in Bid to Boost Local Biotechs
China wants commercial insurance firms to invest in the development of homegrown medicines, Beijing’s latest bid to support its burgeoning biotech and pharmaceutical sector. Commercial insurers have been encouraged to set up investment funds to provide long-term financing and “patience …