INSURANCE NEWS
China Hits Back With Targeted Tariffs After Trump Imposes New Levies
China on Tuesday imposed tariffs on some U.S. imports in a swift response to new U.S. duties on Chinese goods, raising the stakes in a showdown between the world’s top two economies even as President Donald Trump offered reprieves to …
Viewpoint: Delegated Underwriting Authority Enterprises Offer Insurers Competitive Edge
The growing adoption of data-driven underwriting and predictive analytics has given delegated underwriting authority enterprises (DUAEs) a competitive advantage within the insurance industry, with technology serving as a cornerstone for many of these operations. An AM Best survey of its …
Securities Class Actions Increase Again in 2024; AI-Related Filings Double
The number of securities class action filings increased for the second consecutive year in 2024, with artificial intelligence (AI)-related filings more than doubling from the previous year, according to a new report released today by Cornerstone Research and the Stanford …
AI, Cybercrime Perceived as Top Insurance Risks: Kennedys
Artificial intelligence, cyberattacks or outages, and extreme weather events are the risks partners at global insurance law firm Kennedys perceive will have the biggest impacts on their markets in the next year, according to a new risk forecast. The firm’s …
People Moves: Aspire Names Adams VP of Product
Aspire named Isaac Adams vice president of product. Adams most recently served as Aspire’s chief marketing officer. He previously served as vice president of data science at The Hartford. He also ran his own agency, Isaac Adams Agency, a Farmers …
New Jersey Man Sentenced for Heading Stolen Vehicles Conspiracy
A New Jersey man has been sentenced to 57 months in prison for his role in a conspiracy to receive, retitle, and “re-VIN” stolen vehicles. According to Acting U.S. Attorney Vikas Khanna, Nathaniel Bell of Linden pleaded guilty in federal …
Insurer Seeks to Exit $30 Million Wrongful Death Lawsuit Over Boy’s Fatal Shooting
An insurance company says it is not obligated to defend or indemnify the owners and managers of a Memphis apartment complex who are facing a $30 million wrongful death lawsuit stemming from the fatal shooting of a 14-year old boy …
North Carolina Officials Issue Urgent Plea for More Hurricane Recovery Funds
North Carolina officials charged with leading recovery efforts in western North Carolina after Hurricane Helene — as well as parts of eastern North Carolina still struggling from previous hurricanes — told state lawmakers last week that they need more money. …
State Farm Seeking Interim 22% Rate Hike for Homeowners in Wake of LA Wildfires
State Farm General said on Monday it is asking the California Department of Insurance to immediately approve interim rate increases, including 22% average for homeowners. The carrier, the state’s top homeowners insurer, is partly blaming the devastating Los Angeles wildfires …
Child Killed in Hyperbaric Chamber Explosion at Michigan Medical Facility
A pressurized oxygen chamber exploded Friday, killing a 5-year-old patient and injuring his mother at a suburban Detroit medical facility. The hyperbaric chamber explosion occurred about 8 a.m. at the Oxford Center in Troy, north of Detroit. The child, from …
Texas Stock Exchange Raises $161 Million, Sees 2026 Trading Start
TXSE Group Inc., parent company of the proposed Texas Stock Exchange, closed its initial fundraising round at $161 million and said the TXSE has filed for registration as a bourse with the US Securities and Exchange Commission. If the registration …
Louisiana Parish Cleared of Violating Environmental Activist’s Freedom of Speech
Louisiana parish officials who threatened to arrest and imprison an environmental activist as she attempted to speak during a public meeting did not violate her right to freedom of speech, a unanimous civil jury ruled Wednesday. Joy Banner had sought …