INSURANCE NEWS
Markets/Coverages: Westfield Adds Inland Flood Option; Rokstone Launches Farm & Ranch in 14 States
Westfield Expands Flood Protection Options for Homeowners Property/casualty insurer Westfield is expanding its protection options for U.S. homeowners by offering an inland flood coverage add-on designed to help reduce the insurance gap for those living outside historical high-risk flood zones. …
Cyber Security Threat Detected at Kuala Lumpur International Airport: Malaysia Airports
A cyber security threat affecting computer systems at the Kuala Lumpur International Airport was detected on Sunday, the National Cyber Security Agency and Malaysia Airports said in a joint statement. The operations at KLIA were not impacted and authorities are …
Unusually Active Hurricane Season in Store for the Atlantic: AccuWeather
Another above-average hurricane season will threaten the Atlantic this year, with as many as six storms affecting the US, AccuWeather Inc. said. Between 13 and 18 storms will at least reach tropical storm strength, and seven to 10 of those …
Climate Change Triggers More Extreme Weather – From Deluges to Drought
Around the globe, rising temperatures stoked by climate change are increasing the odds of both severe drought and heavier precipitation that wreak havoc on people and the environment. Rainfall can disappear for years only to return with a vengeance, as …
NAIC, Legislators Push to Abolish the Federal Insurance Office
Last week, the National Association of Insurance Commissioners announced its agenda for 2025, including the call to eliminate the U.S. Treasury’s Federal Insurance Office. This comes on the heels of legislation, the Federal Insurance Office Elimination Act, introduced in January …
People Moves: Trucordia Names Davidson SVP of Insurance Broking and Strategy
Trucordia, headquartered in Lindon, Utah, named Aaron Davidson senior vice president, broking and strategy. Davidson joins Trucordia from Peak 8 Advisors, where he was a managing partner. Earlier in his career, Davidson served as chief executive officer and president of …
Washington, Nevada and Oregon Saw Biggest U.S. Vehicle Theft Drops in 2024
Washington, Nevada and Oregon had the biggest percentage drops in vehicle thefts in the U.S. in 2024, according to a new report that shows vehicle thefts nationally fell by 17% in 2024 from a year earlier, marking the largest annual …
22-Year-Old Charged with Arson in Connection to Indianapolis Home Fire
The Marion, County Indiana Prosecutor’s Office filed arson charges with Intent to fraud against 22 year-old Gurpreet Singh, the Indianapolis Fire Department announced this week. On April 22nd, 2024, the Indianapolis Fire Department was dispatched at 11:16 PM to a …
Michigan DIFS Urges Residents to Review Insurance Policies
The Michigan Department of Insurance and Financial Services (DIFS) is encouraging Michiganders to carefully review and understand their existing insurance policies with a licensed insurance agent or trusted advisor, and to shop around to ensure the best coverage to protect …
Texas Court Upholds $300K Settlement Against SkyWest Airlines
A federal judge in Texas has denied SkyWest Airlines, Inc.’s bid for a new trial and upheld an order that SkyWest pay a former parts clerk $300,000 in damages, the the U.S. Equal Employment Opportunity Commission (EEOC) announced. The EEOC …
SEC to Focus on Traditional Cases Under New Leadership, Acting Director Says
The U.S. Securities and Exchange Commission will likely focus on more traditional cases under incoming leadership, including those involving individual wrongdoing and fraud targeting elders, the agency’s acting enforcement director said on Monday. The SEC has pioneered novel enforcement theories …
People Moves: Everest Group’s Chair Taranto to Retire, Succeeded by Graf; VIG Re Taps RenRe’s Haushofer, Promotes Faucret to Build International, European Footprints
This edition of International People Moves details appointments at Everest Group and VIG Re. A summary of these hires follows here. Everest Group’s Chairman Taranto to Retire, Succeeded by Graf Everest Group Ltd., the Bermuda-based property, casualty, and specialty re/insurer, …