INSURANCE NEWS
Oklahoma Selected as Host for 2029 NAIC Spring National Meeting
The National Association of Insurance Commissioners has selected Oklahoma City as the host location for their 2029 Spring National Meeting, Oklahoma Insurance Commissioner Glen Mulready announced this week. Commissioner Mulready and First Deputy Commissioner Brian Downs made a successful presentation …
Fire Erupts Near El Paso Airport, Injuring Five
A fire broke out at a transportation center next to the international airport in El Paso, Texas, on Tuesday, injuring five people and sending a large tower of black smoke billowing over the city on the U.S.-Mexico border. Authorities did …
Statewide Computer Outage Disrupts Nebraska Government Operations
A systemwide outage of Nebraska goverment computers shut down everything from the work of the Legislature to driver’s licensing offices for several hours Thursday. The state Office of the Chief Information Officer confirmed that the outage affected all state connections …
People Moves: BMS Taps Howden Re’s Biddell as Managing Director and Head of London P/C; MGA DUAL UK Makes 3 Senior Appointments in Underwriting and Distribution
This edition of International People Moves details appointments at the broker BMS and the managing general agent DUAL UK. A summary of these new hires follows here. BMS Taps Howden Re’s Biddell as Managing Director and Head of London P/C …
Over 800 File Complaints of Sexual Abuse in Illinois Youth Facilities
Marcus Walker said the sexual abuse he experienced two decades ago as a teenager at an Illinois youth detention facility has haunted his life. After a staff member gave him drugs and sexually abused him, he joined a gang hoping …
Judge Rules Boston Waited Too Long to Sue Drug Intermediaries Over Opioid Crisis
A federal judge has dismissed the city of Boston’s lawsuit seeking to hold pharmacy benefit managers liable for the opioid epidemic. US District Judge Patti B. Saris ruled that the suit against the drug intermediaries was filed too late. The …
Financial Firms Hated US Consumer Watchdog, but Rapid Unraveling Creates Limbo
At a JPMorgan townhall meeting on Wednesday, CEO Jamie Dimon was asked whether the Trump administration’s decision to abruptly stop work at the Consumer Financial Protection Bureau (CFPB) and question its existence was good news for the industry. Dimon told …
Mercury Expects to Lose $1.6B to $2B From LA Wildfires
Although Mercury Insurance Group expects gross losses from the 2025 California wildfires in the $1.6 billion-$2.0 billion range, potential subrogation and reinsurance recoveries will drop the ultimate bill down to $325 million or less, the company believes. “We believe there …
AIG’s Zaffino Talks More on Insurer-Reinsurer Split as $200B Cat Year May Loom
American International Group CEO Peter Zaffino used the insurer’s fourth quarter earnings call to again talk about reinsurance attachments points, throwing in the possibility 2025 could be the year for $200 billion in insured catastrophe losses. “This could recalibrate the …
NC Industrial Commission Grants Benefits to Widow of Officer Killed in Mass Shooting
The family of a Raleigh police officer will receive workers’ compensation survivor benefits, even though the man was not officially at work when he was killed, the North Carolina Industrial Commission decided this week. Gabriel Torres was killed in a …
Insurance Services of New England Adds 8 Connecticut Agencies
Regional independent agency network Insurance Services of New England (ISNE) reported it has expanded into Connecticut with eight additional agencies. The Connecticut agencies ISNE is welcoming to its network are Ahrens, Fuller, St. John & Vincent Insurance, Enfield; Allied Insurance …
Ford’s CEO to Warn Lawmakers of ‘Devastating’ Tariff Impact
Ford Motor Co. Chief Executive Officer Jim Farley will travel to Washington on Wednesday to warn members of Congress that the 25% tariffs President Donald Trump has proposed on Canada and Mexico would “blow a hole” in the US auto …