INSURANCE NEWS
Trump Administration Is Rolling Out a New Way to Shrink FEMA’s Role
When a series of deadly storms and tornadoes pummeled Arkansas in mid-March, downing power lines and tearing up homes, Governor Sarah Huckabee Sanders asked the federal government for money to not only help repair the damage, but also boost the …
Georgia Insurance Office Uses Appointment Fees to Help Fund New Elevator Inspectors
Elevator inspections in Georgia have been an issue for years, exacerbated by the death of an 18-year-old athlete who was trapped and crushed between floors in a faulty elevator in 2021. Now, the Georgia insurance commissioner says his office has …
After Years of Losses, Florida Insurers Saw Underwriting Profits in 2024, AM Best Says
After eight years of losses, Florida’s personal property insurance market reported an underwriting profit and a considerable jump in operating income in 2024, the AM Best rating and analytics firm said in a report this week. The firm examined 45 …
Trump’s Tariffs to Remain in Effect After Appeals Court Grants Stay
A federal appeals court temporarily reinstated the most sweeping of President Donald Trump’s tariffs on Thursday, a day after a trade court had ruled Trump had exceeded his authority in imposing the duties and ordered an immediate block on them. …
Searing Heat in California and West Threatens to Break Temperature Records
A short-lived heat wave will send temperatures soaring across California and the U.S. West through the weekend, elevating power demand and raising the risk of health impacts. At least 26 daily records may be broken or tied across the West …
Cotality: Over 33 Million Properties at Risk of Hurricanes, Creating ‘Liquidity Traps’
Cotality said it has identified more than 33.1 million residential properties from Texas to Maine with a combined reconstruction cost value of $11.7 trillion at least moderate risk of sustaining damage from hurricane-force winds. The property data provider, formerly known …
AM Best Revises Outlook to Negative for Oklahoma Farm Bureau Mutual
AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICRs of “bbb+”(Good) for the members of the Oklahoma …
Victoria’s Secret Website Down as Lingerie Seller Addresses ‘Security Incident’
Victoria’s Secret has taken down its U.S. website and says some in-store services will be unavailable as it addresses an unspecified “security incident.” A message to customers remained in place of the popular lingerie brand’s normal shopping site Thursday, stating …
New York Times Agrees to License Content to Amazon for AI Use
The New York Times Co. has reached a deal to license its editorial content to Amazon.com Inc. for use across its artificial intelligence platforms, marking the first such agreement the newspaper company has struck after years of battles between the …
SC Governor Celebrates Dram Shop-Tort Reform Law But Some Want More
South Carolina’s governor has signed a liquor liability and tort-reform bill into law, but some lawmakers said broader changes to the state’s legal system are needed. Senate Majority Leader Shane Massey, who helped push through a compromise dram shop bill …
Iranian Pleads Guilty in US to 2019 Baltimore Ransomware Attack
An Iranian national pleaded guilty to participating in the high-profile 2019 Baltimore, Maryland, ransomware attack, among others, and to causing tens of millions of dollars in losses and disrupted services, the Department of Justice said on Tuesday. Sina Gholinejad, 37, …
Nurse Showed COVID Was Work-Contracted, West Virginia Supreme Court Rules
The West Virginia Supreme Court has ruled 3-2 that a prison nurse is entitled to workers’ compensation benefits for her COVID-19 disease because she provided sufficient evidence that she contracted it in her workplace and not outside of work. Brittany …