INSURANCE NEWS
AM Best: Wildfires Intensifying California’s Property Insurance Troubles
Wildfires are intensifying the problems in California’s property insurance market, according to a new commentary from AM Best. Those problems include a major insurer pullback from California in the past year, followed by the L.A. wildfires, which could result in …
European Commission Asks Shein for Information on Illegal Goods
The European Commission has asked online fast-fashion retailer Shein to provide internal documents and more detailed information on risks linked to the presence of illegal goods and content on its marketplace, the EU executive said on Thursday. Shein said it …
Hub Acquires Indiana’s The Rocchio Agency
Hub announced that it has acquired the assets of John L. Kiley Agency, Inc. dba DAR The Rocchio Agency (The Rocchio Agency). Terms of the transaction were not disclosed. Headquartered in Carmel, Indiana, The Rocchio Agency is an independent insurance …
3 Children Die in Suburban Detroit House Fire Where No Smoke Alarms Were Found
Three children died in a weekend house fire in suburban Detroit, authorities said. The siblings, a 16-year-old girl and two boys ages 15 and 12, could not escape the fire Sunday night, said Byron Turnquist, fire marshal in West Bloomfield …
ACLU Sues on Behalf of Arkansas Librarian Fired for Fighting Book Censorship
The American Civil Liberties Union filed a lawsuit Monday on behalf of an Arkansas librarian who was fired after she spoke out against efforts to restrict the public’s access to certain books. The ACLU of Arkansas filed the lawsuit on …
Amazon, Alphabet Targeted as Oklahoma Joins Anti-DEI Investor Ranks
Oklahoma is poised to become the first Republican state to try to use its influence as an investor to end DEI in corporate America, targeting companies including Amazon.com Inc. and Alphabet Inc. in shareholder proxy proposals. Using an increasingly popular …
Clear Group Acquires Irish Broker Phelan Caswell Insurances
The Clear Group, the London-based insurance intermediary, announced the acquisition of broker Phelan Caswell Insurances, based in Dublin, Ireland. The deal also sees Clear acquire the financial planning assets of the business. Financial details of the deal were not disclosed. …
People Moves: SCOR Taps Allianz’s Schaefer as Global Head of Casualty & EIL, Succeeding Carerras; AXIS Promotes Cucciniello to Head of Primary Casualty
This edition of International People Moves details appointments at SCOR and AXIS Capital Holdings. A summary of these new hires follows here. SCOR Taps Allianz’s Schaefer as Global Head of Casualty & EIL, Succeeding Carerras SCOR announced the appointment of …
Inside the LA Fire Cleanup’s Rush to Remove Tons of Toxic Rubble
Removing toxic waste from the foothills and coastal canyons where more than 16,000 homes and businesses burned down in the Los Angeles wildfires was always going to be an unprecedented challenge in a densely-populated, traffic-choked metropolis. And then the Trump …
Billionaire Generali Investor Weighs Candidates to Challenge CEO Donnet
One of Generali’s biggest investors is considering challenging the reappointment of longstanding CEO Philippe Donnet in May and is weighing potential alternative candidates to lead Italy’s biggest insurer, four sources close to the matter said. Three years ago Francesco Gaetano …
Insurance Groups Pushing Hard for Georgia Tort Reform as State Liability Costs Soar
Georgia’s governor has asked state lawmakers for $175 million to cover the growing costs of liability claims against state agencies and employees, as the state’s liability insurance fund has dwindled to a fraction of the outstanding costs. The Atlanta Journal-Constitution …
Citing Remote Worforce, Kingstone Insurance to Sell Headquarters to County
Coming off of its best year ever in 2024, Kingstone Companies, Inc., a Northeast regional property/casualty insurance holding company, announced that it has agreed to sell its headquarters building in Kingston, New York. The buyer is Ulster County, which agreed …