INSURANCE NEWS
St. Louis Waives 25% Holdback Rule for Property Claims From May 16 Tornado
St. Louis Mayor Cara Spencer signed an executive order to waive a 25% holdback of insurance payouts for property damage claims related to the May 16 tornado that damaged at least 10,000 properties in the city. The order instructs the …
Death Toll From San Antonio Flooding Rises to 13
The death toll from heavy rains that inundated parts of San Antonio has risen to 13, and all those missing have been found, authorities said. More than 7 inches (18 centimeters) of rain fell over a span of hours on …
American Bar Association Sues to Block Trump’s Attacks on Law Firms
The American Bar Association sued the Trump administration on Monday, seeking an order that would bar the White House from pursuing what the ABA called a campaign of intimidation against major law firms. The lawsuit, filed in federal court in …
Tariff ‘Stacking’ Adds Another Headache for US Importers
John Hamer, president of Rodgers Wade Manufacturing in Paris, Texas, makes store fixtures for big retailers like Ross Dress for Less and Ulta Beauty. He sources many of the goods from China, which until recently meant he paid 70% in …
Air India Crash Seen Triggering $475 Million in Insurance Claims
India’s deadliest plane crash in more than decade is set to send shock waves through the aviation insurance industry and trigger one of the country’s costliest claims, estimated at around $475 million. “This aviation insurance claim could be one of …
Florida Premium Written up by a Third, Average Premiums Up by 40% Since 2022
Newly posted data from Florida regulators show that, in the last three years, the number of property insurance policies in the state has risen only slightly while direct premium written and average premiums have climbed significantly. The first-quarter 2025 data …
California FAIR Plan Extends ZestyAI Partnership
ZestyAI has announced a four-year extension of its partnership with the California FAIR Plan. The Golden State’s insurer of last resort has tapped ZestyAI’s Z-FIRE wildfire risk model for risk assessment since 2021. That model leverages AI-driven analysis of more …
NWS Issues Alaska’s First Ever Heat Advisory
For the first time ever, parts of Alaska are under a heat advisory — but you can put an asterisk at the end of that term. It’s not the first instance of unusually high temperatures in what many consider the …
Trump Can’t End FEMA But It Needs Reform, Says Obama’s FEMA Head
President Donald Trump has repeatedly said he intends to whittle down or phase out the Federal Emergency Management Agency, and last week he gave a rough timeline for that: “after hurricane season.” “We want to wean off of FEMA, and …
Flash Flooding Kills 5 in West Virginia as Rescue Teams Search for Missing
Flash flooding caused by torrential rains killed five people in northern West Virginia and rescue crews were searching for three other people who were missing Sunday as authorities assessed damage to roads, bridges, natural gas lines and other infrastructure. Officials …
US Supreme Court to Hear Chevron, Exxon Appeal Over Louisiana Coastal Damage
The U.S. Supreme Court agreed on Monday to hear a bid by Chevron, Exxon Mobil and other oil and gas companies to have lawsuits brought by two Louisiana localities accusing them of harming the state’s coast over a period of …
Purdue Pharma $7.4B Opioid Settlement Wins Broad Support From States
Purdue Pharma has won support from the attorneys general of 55 U.S. states and territories for its $7.4 billion settlement to resolve thousands of opioid lawsuits against the drugmaker and its owners, members of the Sackler family. A framework for …