INSURANCE NEWS
Krispy Kreme Starts Notifying Over 160,000 People Affected by Data Breach
Krispy Kreme released new information about its late 2024 data breach and said it is notifying affected individuals—many of them current or former employees, and their families. According to a post on its website and a notification to the attorney …
Plenty of Investor Interest in Insurance Despite Drop in Deal Volume, Says PwC
Deal volume is down but the total value of the deals that were made is up, according an analysis by PwC of mergers and acquisitions in the insurance sector. The look at M&A activity showed total deal value within the …
Florida’s Evolving Bad-Faith Landscape: What Claims and Insurance Pros Need to Know
Bad faith litigation has long posed both legal and reputational risks for insurers operating in Florida. With the enactment in 2023 of House Bill 837—a sweeping tort-reform measure—there are important changes to how insurers and their claims professionals must approach …
Major Hurricane Erick Hits Mexico’s Pacific Coast, With Life-Threatening Floods Expected
Hurricane Erick made landfall on the coast of Oaxaca, Mexico, on Thursday morning, authorities said, potentially bringing intense rains and life-threatening floods and mudslides. The storm made landfall around 5:30 am local time in the town of Santiago Pinotepa Nacional, …
Hard Rock Stadium Tightens Security at Club World Cup After Miami Chaos Last Year
Almost a year since the Copa America final nearly ended in tragedy, big numbers of soccer fans are back at Hard Rock Stadium — this time for the Club World Cup with heightened security. A combined crowd of nearly 120,000 …
California Utilities Weigh Power Shutdowns as Dry Winds Approach
California utilities are mulling power shutdowns as breezy dry conditions across the state raise the risk of wildfires. Pacific Gas & Electric Corp. may turn off power to at least 11,543 customers in 15 counties, according to its website. Southern …
Alabama DOI Encourages Insurers to Use More Than Drones in Nonrenewals
Alabama’s insurance commissioner this week urged property insurers to be judicious in the use of drones and aerial imagery in making nonrenewal decisions, but stopped short of issuing new regulations. “If an insurer uses aerial imagery as a basis for …
People Moves: Aon Promotes Rieth to Global Cyber Leader
Aon Promotes Rieth to Global Cyber Leader Aon plc, headquartered in London, promoted Brent Rieth to global cyber leader within Commercial Risk Solutions. Rieth, based in Chicago, Illinois, currently serves as head of Cyber Solutions, North America, will now lead …
Racketeering Suit Alleges NY Insurance Fraud Scheme by Lawyers, Medical Providers
A New York specialty insurance managing underwriter for contractors and construction risks has sued a New York City personal injury law firm and dozens of medical providers, alleging a wide-ranging scheme to defraud insurers through staged construction accidents and fraudulent …
Verisk: Q1 Claims Volume Hits 5-Year Low but Severity Up on Wildfire Losses
The first three months of 2025 brought devastating wildfires to California, significant wind and hail events to Texas, and substantial increases in tornado activity to “Tornado Alley,” but claim volume decreased to a five-year low, according to a quarterly property …
Clear Group Acquires UK Commercial Broker, C.R. Toogood & Co.
The Clear Group, he London-based insurance intermediary, announced the acquisition of C.R. Toogood & Co. Ltd., a commercial insurance broker based in East Horsley, Surrey, UK. Financial details of the deal were not disclosed. Clear said this strategic move underscores …
Mideast Ship Insurance Costs Jump Following Iran-Israel Attacks
The cost of insurance for ships sailing in the Persian Gulf jumped as attacks between Iran and Israel raised risks for vessels in the area. Underwriters are now charging 0.2% of the value of a ship for calls into the …