INSURANCE NEWS
‘New Normal’ Sets in as Pace of Insurance Agency M&A Becomes Clear
Insurance agency mergers and acquisitions during the second quarter 2025 were up 11% over the prior quarter, but M&A activity for the first half of the year is down 8% compared to last year, according to investment banking and financial …
Air India Audit Finds 51 Safety Lapses, From Unapproved Simulators to Training Gaps
India’s aviation watchdog found 51 safety lapses at Air India in its July audit, including lack of adequate training for some pilots, use of unapproved simulators and a poor rostering system, according to a government report seen by Reuters. The …
Texas Auto Insurer for Residual Market Approved for Rate Increase
The Texas Department of Insurance (TDI) said in a bulletin this month that it has approved private passenger and commercial auto rate increases for the Texas Automobile Insurance Plan Association (TAIPA), the state’s residual market for auto insurance. Private passenger …
Shanghai Evacuates 280,000 Residents as Tropical Storm Nears
Shanghai has evacuated around 280,000 people and canceled flights as a tropical storm nears China’s financial hub, bringing strong winds and heavy rainfall that threatens flash flooding. Storm Co-may — known locally as Zhu Jie Cao — is expected to …
Bridgepoint to Buy Majority Stake in German Insurance Broker HBC
Bridgepoint Group Plc agreed to acquire a majority stake in German insurance broker Hanseatic Broking Center GmbH from Preservation Capital Partners. The transaction sees Bridgepoint partner with HBC’s management team and founders, who will remain significantly invested, according to a …
Waymo to Launch Autonomous Ride-Hailing in Dallas in 2026
Alphabet’s GOOGL.O Waymo said on Monday it will roll out its autonomous ride-hailing service in Dallas in 2026, accelerating its U.S. expansion as electric vehicle maker Tesla TSLA.O pushes to grow its recently launched robotaxi business. After years of cautious …
Kansas City Family Dollar Store’s Roof Collapses, Killing 65-Year-Old Man
Part of the roof and front facade of a Family Dollar store in Kansas City, Missouri, collapsed Sunday, killing a 68-year-old man and seriously injuring a 50-year-old woman, authorities said. The building’s partial collapse occurred about 2:45 p.m. Sunday, the …
Viewpoint: Trucking Companies Face Growing Wage & Hour Class Action Risks
Are you a trucking company? If so, you may be exposed to class action lawsuits for minimum wage, break time, and overtime violations. Trucking companies are essential to our national economy and security. However, trucking companies often risk violating wage …
More Than $360M in CFPB Compensation ‘at Risk,’ Say Consumer Groups
Recent actions by the U.S. Consumer Financial Protection Bureau have reversed or jeopardized more than $360 million in compensation paid to consumers allegedly harmed by financial companies, an analysis by consumer groups said on Tuesday. The compensation relates to allegations …
AI May Be Needed to Fight Back Against Deepfakes Threat
The phone rings. It’s the secretary of state calling. Or is it? For Washington insiders, seeing and hearing is no longer believing, thanks to a spate of recent incidents involving deepfakes impersonating top officials in President Donald Trump’s administration. Digital …
Demotech’s Petrelli Responds to WSJ Article. Others Say it Echoes Old Concerns
Reactions to a recent Wall Street Journal article, which faulted the Demotech rating agency for giving top marks to a number of insurance carriers before the insurers went insolvent in recent years, has been mixed and muted. After outrage from …
Commercial Auto MGA Cover Whale Obtains $40M Equity Financing
Cover Whale Insurance Solutions, Inc., a managing general agency (MGA) focused on commercial auto isurance, announced $40 million in new equity financing from Morgan Stanley Expansion Capital. Founded in 2020, Cover Whale’s proprietary driver safety program combines continuous underwriting, real-time …