INSURANCE NEWS
Berkshire, Progressive Are 2024 Underwriting Profit Leaders; Industry Sets Income Record
S&P Global Market Intelligence expects the U.S. property/casualty insurance industry to post more than $100 billion of net income for 2024—and that the biggest underwriting profits contributing to the figure will come from units of Berkshire Hathaway and Progressive. The …
HUD Rejects Helene Relief Grant for Asheville Due to DEI Program Mention
President Trump’s U.S. Department of Housing and Urban Development has rejected a $225 million relief plan for the city of Asheville, North Carolina, due to its inclusion of funding for minority and women-owned businesses. The Hill, the Asheville Citizens Times …
NTSB ‘Urgently’ Recommends Alternative Route for Helicopters at DC Airport
A report from the National Transportation Safety Board on Tuesday urgently recommends that the Federal Aviation Administration (FAA) permanently prohibit helicopter operations near Washington’s Ronald Reagan National Airport when certain runways are in use for arrivals or departure. The NTSB …
Meta Faces Legal Challenge by French Publishers Over AI Training
French publishers and authors are suing Meta Platforms Inc. for copyright infringement, accusing the tech giant of using their books to train its generative artificial intelligence model without authorization. SNE, the trade association representing major French publishers including Hachette and …
Dutch Marine Services Provider Boskalis to Salvage UK Ship Collision Tanker
Dutch marine provider Boskalis will salvage the U.S.-flagged tanker Stena Immaculate, which was struck by a container ship off northeast England on Monday, a spokesperson said on Tuesday, confirming earlier Dutch media reports. He could not give a time frame …
Unexplained Ship Collision off UK Coast Triggers Race for Clues
A collision involving a tanker carrying jet fuel for the U.S. military and a container ship off Britain’s coast is an unusual incident that raises questions over what went wrong despite safety measures in place, three shipping and insurance sources …
Lloyd’s Said It Will Lose $2.3B From LA Wildfires
Lloyd’s this week said it will lose $2.3 billion from the Los Angeles wildfires in January, adding to the number of companies that have paid out more than $1 billion in losses from the catastrophe. The company revealed the losses …
Attempt to Make S’mores Blamed for Long Island Wind-Driven Brush Fires
Multiple brush fires that burned across a wooded area of Long Island over the weekend were accidentally caused by a family’s attempt to make s’mores, Suffolk County police said Monday. Commissioner Kevin Catalina said detectives traced the cause to a …
Most Ransomware Claims Begin With Compromised Perimeter Security: Coalition
More than half of ransomware claims in 2024 started with threat actors compromising perimeter security appliances, according to a new report from Coalition. In its Cyber Threat Index 2025, the insurance provider reported that 58% of claims began with such …
Oakbridge Names Ledyard Chief Operating Officer; Hub Hires Nashville Advisors
Atlanta-area-based Oakbridge Insurance, one of the largest privately owned agencies in the Southeast, named John Ledyard chief operating officer and executive vice president. Ledyard spent almost 11 months at Higginbotham, a Texas-based insurance brokerage and agency, much of that time …
AM Best Revises Outlooks for Members of Grange Insurance Group in Washington
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings of “bbb+” (Good) of Grange Insurance Association and its reinsured subsidiary Granwest Property & Casualty. …
Kennedy Wants FDA to Close ‘Self-Affirm’ Safety ‘Loophole’ Used by Food Manufacturers
U.S. Secretary of Health and Human Services Robert Kennedy Jr. directed the Food and Drug Administration on Monday to revise safety rules to help eliminate a provision that allows companies to self-affirm that food ingredients are safe. This would increase …