INSURANCE NEWS
Pro-Russian Hackers Attack Italian Websites After President’s Comments About Ukraine
A pro-Russian hacker group attacked Italian government websites on Tuesday [Feb. 18] in what it said was a reaction to a speech by Italian President Sergio Mattarella that compared Russia’s invasion of Ukraine to the Nazis ‘ “wars of conquest.” …
Climate Goals Still Make Business Sense, Rio Tinto CEO Says
Rio Tinto Group, the world’s second-largest mining company and a major polluter, came out in support of corporate efforts to curb emissions, insisting that pursuing green targets can add value. “Despite the fragmented policy landscape, decarbonization can still be good …
India Insurers Look to Hike Health Premiums as Pollution Stings
Indian insurers are considering making New Delhi residents pay 10% to 15% more for new health policies after an extraordinary spike in claims related to air pollution in 2024 in India’s capital, according to nine executives aware of the matter. …
Rebuilding Costs Rose More Than 60% in the Last Decade: Verisk
Over the past decade, there’s been a dramatic increase in reconstruction costs, according to Trish Hopkinson, head of 360Value at Verisk. The 10-year analysis examined residential and commercial reconstruction costs between October 2014 and October 2024. National residential reconstruction costs, …
Supreme Court Tackles Straight Woman’s ‘Reverse’ Discrimination Case
Marlean Ames received numerous promotions and good evaluations over the years working in Ohio’s youth corrections system, so when she was denied a promotion and demoted in 2019 with a $40,000 pay cut she said she felt “shocked and hurt …
New York Sues Vape Distributors for Fueling Teen Epidemic
New York sued several large e-cigarette manufacturers, distributors and retailers on Thursday, saying they fueled a youth vaping epidemic by selling products with cartoonish packaging and flavors such as Baja Slushie, Strawberry Cereal Donut Milk and OMG Blow Pop. Letitia …
Zurich Insurance Sees $200 Million LA Wildfire Loss
Zurich Insurance Group AG is expecting pretax losses of $200 million from the January California wildfires as the insurer reported a 5% gain in profit for 2024. Group operating profit rose to $7.75 billion in the year, the company said …
County Trash Collector’s Workers’ Compensation Claim Thrown Out
When the garbage truck stopped, the worker stepped down from the metal step on the back of the truck to run and retrieve a trash can. When his feet hit the ground, he heard a pop in his leg, felt …
World Insurance Acquired Grandview Brokerage of Brooklyn
National insurance broker World Insurance Associates LLC announced that it acquired the business of Grandview Brokerage LLC of Brooklyn, New York last November. Grandview provides commercial and personal insurance with niches in the healthcare, real estate, and jewelry industry. Michael …
AM Best Revises Outlooks to Negative for Mercury and Subsidiaries Over LA Wildfires
AM Best revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) for the members of Mercury Casualty Group. Concurrently, AM Best revised …
AM Best Upgrades Credit Ratings of The General Following Sentry Acquisition
AM Best has removed from under review with positive implications and upgraded the Financial Strength Rating to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Ratings to “aa-” (Superior) from “a+” (Excellent) of Permanent General Assurance Corporation, Permanent …
Airbnb Files Lawsuit Against City of New Orleans Over Regulation Dispute
Airbnb is suing the City of New Orleans for requiring the company and short-term rental platforms ensure properties they market are in compliance with city laws. “What we’re looking at now due to Airbnb’s lawsuit is that they do not …