INSURANCE NEWS
Pilots Have Long Worried About DC’s Complex, Congested Airspace
The airspace around Washington, D.C., is congested and complex — a combination aviation experts have long worried could lead to catastrophe. Those fears materialized last Wednesday night when an American Airlines plane collided with a military helicopter, taking the lives …
Australia Urges Residents in Northeast to Evacuate on Flood Risk
Australian officials urged residents in the northeastern city of Townsville and adjacent areas to evacuate as torrential rains raised the risk of a flood disaster in the area. Some parts of the north in Queensland state have had more than …
UK Warns DeepSeek Users of Data Risks But Won’t Yet Ban It
As governments grapple with what to do about DeepSeek, China’s hot new AI model — including outright bans — the UK is issuing a warning to its citizens and business: be careful. “Ultimately it is a personal choice for people, …
Property-Catastrophe Reinsurance Rates Will Stop Dropping Post-Wildfires: Execs
RenaissanceRe expects to incur about $750 million in losses from the January 2025 California wildfires—and anticipates that industrywide impacts should halt the drop in property-catastrophe reinsurance prices observed at 1/1. Kevin O’Donnell, president and chief executive officer, referencing an industrywide …
City of London Hit Harder Than Rest of Economy Since Brexit Vote
The City of London, once considered the crown jewel of Britain’s dominant services sector, has performed even worse than the rest of the economy in the years following the Brexit referendum. Financial and insurance output has grown just 2.8% since …
SEC’s Republican-Led Commission Tightens Oversight of Probes, Sources Say
Lawyers at the U.S. Securities Exchange Commission (SEC) have been told they need to seek permission from the politically appointed leadership before formally launching probes, two sources briefed on the matter said, in a marked change in procedure that could …
North American Companies Brace for Fallout From Tariffs
For North American companies, the “wait and see” moment on tariffs is over. U.S. President Donald Trump imposed a 25% levy on goods from Canada and Mexico, along with a 10% tariff on China, in what could be the opening …
Trump Fires Biden’s Consumer Protection Watchdog Rohit Chopra
Rohit Chopra, the director of the Consumer Financial Protection Bureau under President Joe Biden, was fired by the Trump administration, a person with knowledge of the matter said. “This letter confirms that my term as CFPB director has concluded,” he …
Tesla Sees Another Quarterly Decline in California Auto Sales Report
Tesla sales fell in California in the fourth quarter of 2024, bringing down overall sales of the popular vehicle further for the year, according to a new report. The California New Car Dealers Association released its California Auto Outlook Report …
Will Georgia Gov. Kemp’s Move to Curb Lawsuits Keep Insurance Rates From Rising?
Georgia Gov. Brian Kemp on Thursday reiterated his simple pitch for lawsuit limits: They’ll halt rising insurance costs. The reality, though, is more complicated. Changes could reduce liability insurance costs for businesses and commercial property owners. The evidence is mixed …
Medical Transport Plane Crash in Philadelphia Leaves 7 Dead, 19 Injured
A Medevac plane that crashed in Northeast Philadelphia killed one person on the ground and left 19 others hospitalized, in addition to killing all six people on board the aircraft, the city’s mayor said on Saturday. “This is a tragedy …
Inszone Acquires Texas Classic
Inszone Insurance Services announced the acquisition of Texas Classic Insurance Agency, Inc. This transaction further strengthens Inszone’s foothold in Texas and enhances its capabilities in the personal lines insurance market. Founded in 1991, Texas Classic Insurance Agency has served clients …