INSURANCE NEWS
UCLA to Pay Over $6 Million to Settle Lawsuit on Antisemitism
The University of California at Los Angeles agreed to pay more than $6 million to settle discrimination complaints brought by Jewish students and faculty members who assailed the school for allowing a “Jew Exclusion Zone” on campus during pro-Palestinian protests …
NAMIC Throws Support Behind Bill to Reaffirm State Regulation of Insurance
The National Association of Mutual Insurance Companies (NAMIC) is supporting a bill first introduced more than 18 months ago to limit the authority of the Consumer Financial Protection Bureau and protect state regulation of the insurance industry. Rep. Bryan Steil, …
Michigan Manufacturer Sued for Sexual Harassment
East Jordan Plastics, Inc., a manufacturer of plastic horticultural containers, violated federal law when it subjected female production employees to sexual harassment before taking untimely remedial action, the U.S. Equal Employment Opportunity Commission (EEOC) charged in a lawsuit. According to …
AM Best Upgrades Credit Rating of Texas’ New Horizon
AM Best has upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to “a-” (Excellent) from “bbb+” (Good) of New Horizon Insurance Company based in Houston, Texas. The outlook of these Credit …
Marsh Japan Agrees to Acquire Mitsubishi Electric’s Insurance Agency
Marsh Japan has agreed to purchase Mitsubishi Electric Corp.’s in-house insurance agency, Mitsubishi Electric Insurance Service Co. Ltd., in a share transfer agreement that will be completed on Nov. 4. Financial details of the transaction were not disclosed. Since it …
World Acquires Louisiana’s Lighthouse Insurance Agency
World Insurance Associates LLC announced that it acquired the business of Lighthouse Insurance Agency of Madisonville, Louisiana on March 1, 2025. Terms of the transaction were not disclosed. Lighthouse Insurance Agency specializes in writing personal lines insurance, small and medium …
People Moves: Guy Carpenter Taps RenRe’s Flynn as Head of Global Clients, Global Specialties; Tokio Marine HCC International Names Bridges as Chief Claims Officer
This edition of International People Moves details London-based appointments at the reinsurance broker Guy Carpenter and the insurer Tokio Marine HCC International. A summary of these new hires follows here. Carpenter Taps RenRe’s Flynn as Head of Global Clients, Global …
People Moves: DOXA Expands Brokerage Vertical Naming Curry EVP
DOXA, headquartered in Fort Wayne, Indiana, hired Sean Curry as executive vice president of its brokerage vertical. Curry guides DOXA’s expansion of its product expertise and rapid responsiveness in new markets with hard-to-place risks. Curry has nearly 20 years of …
Traffic Fatalities Dip 6.3% in First Quarter 2025
The number of people killed in U.S road crashes was down 6.3% in the first three months of 2025, according to newly released data by the National Highway Traffic Safety Administration. Traffic fatalities totaled 8,055, the lowest quarterly rate in …
Top 5 Auto Insurers File for Average 6% Rate Reduction This Year, Florida OIR Says
Florida may have had some of the highest property and auto insurance rates in the country in recent years, but so far this year, the largest auto insurers have filed for rate decreases averaging about 6%, regulators said. “We are …
H1 Natural Disasters Had Insured Price Tag of $80B – Driven by US Claims: Munich Re
Natural disasters across the globe cost insurers US$80 billion during the first half of 2025, up from $64 billion in H1 2024, according to Munich Re’s mid-year natural disaster report. On the other hand, overall economic losses (which include insured …
Applied Underwriters Starts MGA Platform Innovation Risk
Applied Underwriters said it has launched Innovation Risk, a new managing general agent (MGA) platform that will focus on casualty, accident, and life underwriting. The MGA, while firmly rooted in proven, traditional insurance fundamentals, will incorporate the enhanced approaches developed …