INSURANCE NEWS
US GDP Could Take a Big Hit From Climate Change by 2100, Study Shows
A working paper from the U.S. Congressional Budget Office recently estimated the distribution of changes in gross domestic product in the year 2100 resulting from changes in temperature. And it could be bad, really bad—or hopefully not so bad, if …
ZestyAI: More Than $2 Trillion in US Homes at High Risk of Wildfires
While Western wildfires have dominated disaster news for decades, new analysis using artificial intelligence shows millions of homes across the country—even in the swampy Southeast—are at risk for wildfires. New data analysis from ZestyAI found that $2.15 trillion worth of …
BIPA Litigation May Subside but Don’t Sleep on Compliance
Reforms in 2024 to Illinois’ Biometric Information Privacy Act may have slowed the frequency and severity of litigation, but there remain significant consequences for violation of the law. Insurance Journal was able to ask expert Jason M. Rosenthal of Chicago-based …
CFPB Drops Lawsuits Against Capital One, Rocket Unit
The Consumer Financial Protection Bureau dropped a slew of Biden-era lawsuits against lenders as the nominee to lead the agency pledged to “right size” the watchdog under President Trump. The CFPB dismissed cases against Capital One Financial Corp., a unit …
Florida’s Baldwin Group Reports $20M Q4 Loss, Universal Earned $6M Profit
Two major, publicly traded Florida insurance companies reported fourth-quarter earnings, with the Baldwin Insurance Group, Inc. (BWIN) noting a loss of $20.2 million in its fourth quarter. On a per-share basis, the Tampa-based insurance agency and brokerage said it had …
Selectsys Acquires Expert Insured, with AI for Carriers, MGAs
Tennessee-based Selectsys, an insurtech specializing in business process outsourcing for insurers, has acquired Expert Insured, an artificial intelligence-led insurance management system for wholesalers, carriers and managing general agents. Terms were not disclosed. With headquarters in Boston, Expert Insured also has …
Connecticut Lawmakers Ban Use of Foreign-Made Drones by State, Local Agencies
HARTFORD, Conn. (AP) — Connecticut lawmakers passed emergency legislation this week prohibiting state agencies and municipalities from purchasing or using Chinese and Russian drones while also imposing restrictions on where drones can be operated in the state. The bill comes …
Norfolk Southern Wins Dismissal of Bondholder Lawsuit Over Ohio Train Drailment
A federal judge on Thursday dismissed a lawsuit accusing Norfolk Southern NSC.N of causing hundreds of millions of dollars of losses for bondholders by concealing safety risks prior to the February 2023 derailment in East Palestine, Ohio of a train …
US Soldier Linked to AT&T Hack Accused of Contacting Spy Agency
A 21-year-old US soldier accused of trying to sell AT&T call records of Donald Trump’s family members also attempted to pawn off sensitive data to a foreign intelligence organization, according to court documents. Cameron Wagenius pleaded guilty earlier this year …
Why People Rebuild in Appalachia’s Flood-Ravaged Areas Despite Risks
On Valentine’s Day 2025, heavy rains started to fall in parts of rural Appalachia. Over the course of a few days, residents in eastern Kentucky watched as river levels rose and surpassed flood levels. Emergency teams conducted over 1,000 water …
Philadelphia Tests Bullet-Resistant Glass to Protect City Bus Drivers
Philadelphia’s public transit system is moving forward with plans to test-run bullet-resistant glass enclosures for drivers on city buses, joining other cities hoping to provide more protection for drivers who often face violence and harassment from passengers. Law enforcement officers …
Mansion at Risk of Tumbling Into Cape Cod Is Demolished
A luxury home that had been on the verge of tumbling into Cape Cod Bay due to erosion has been demolished. A potential collapse of the 5,100-square-foot home threatened oyster beds in nearby Wellfleet Harbor, but a dispute over its …