INSURANCE NEWS
Severe Drought Prompts Burn Bans, Water Usage Restrictions in South Florida
South Florida water managers are sounding the alarm as the worst drought in a quarter-century has left parts of the state critically short of groundwater and reservoir supplies. “Without conservation, water supplies over the remainder of the dry season may …
People Moves: Finys Names Theme as CCSO
Finys, aprovider of insurance software solutions for property and casualty carriers, announced that Emeka Iheme has joined the company as Chief Customer Success Officer (CCSO). Iheme brings more than 20 years of experience leading professional services, customer success, and client …
Bayer to Make $10.5 Billion Push to Settle Roundup Cases
Bayer AG is preparing to announce a $10.5 billion settlement push to resolve current and future cancer lawsuits over its top-selling Roundup weedkiller, according to people familiar with the plan. The German conglomerate is set to propose a $7.5 billion …
Tapco Underwriters MGA Rebrands as CRC Tapco
Tapco Underwriters, a North Carolina-based managing general agent, has new livery and a new name, 17 years after it was acquired by CRC Insurance Services. The MGA will now be known as CRC Tapco and will continue to focus on …
3 Killed, 3 Injured in Shooting at High School Hockey Arena in Rhode Island
Rhode Island officials said that three people, including the suspected gunman, are dead, and three others were injured in a shooting during a high school hockey game at a Pawtucket arena on Monday afternoon. Police said the shooting appears to …
Rich World’s Growing Civil Unrest Has an Insurance Sting
A category of insurance risk that hardly existed a little over a decade ago has morphed into a meaningful source of losses for the industry. Claims tied to SRCC — strikes, riots and civil commotion — are emerging as a …
Beacon Mutual CEO Spero to Retire in 2027; Vitale Named Successor
Rhode Island-based Beacon Mutual Insurance Co. reported that President and Chief Executive Officer Brian J. Spero will retire effective March 31, 2027, after more than 18 years of service to the company. Amy C. Vitale, Esq., executive vice president and …
UK Eyes Rapid Ban on Social Media for Under 16s, Curbs to AI Chatbots
Britain could bring in an Australian-style ban on social media for children under 16 as early as this year and close a loophole that left some AI chatbots outside safety rules, as part of government efforts to respond more quickly …
Jury Finds Johnson & Johnson Liable for Cancer in Latest Talc Trial
A jury in Pennsylvania state court on Friday awarded $250,000 to the family of a woman who sued Johnson & Johnson alleging its talc-based baby powder was to blame for her ovarian cancer. The jury in the Philadelphia Court of …
Preparing for an AI Native Future
Artificial intelligence is becoming a core competency for insurers that want to stay competitive in the face of geopolitical volatility, shifting claims patterns, persistent cost pressures and rising customer expectations. But to unlock AI’s full potential, carriers need to first …
French Prosecutor Opens Probe Into Baby Milk Brands Over Contamination
The Paris public prosecutor has opened five investigations into baby milk brands distributed by Nestle, Lactalis, Danone, Babybio and La Marque en moins after contamination with toxin cereulide, it said on Friday [Feb. 13]. Cereulide, which can cause nausea and …
California Insurance Commissioner Unveils Intervenor Reform Regulations
California Insurance Commissioner Ricardo Lara is pushing a change to the state’s long-standing intervenor regulations, which enable groups to intervene in rate hearings. Lara on Friday released the amended text of proposed regulations for the intervenor and Administrative Hearing Bureau …