INSURANCE NEWS
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 …
Willis Takes Donnelly From Marsh to Head North America Risk & Broking
Willis said it has hired veteran leader Pat Donnelly as head of risk & broking (R&B) in North America. Donnelly had been president, Marsh specialty and global placement – a position he held since the middle of 2023 when he …
Norfolk Southern Says Insurance to Cover At Least $750M of Ohio Derailment Costs
Norfolk Southern’s solid fourth quarter — combined with the optimism the railroad is hearing from their customers and support they’re getting from Washington D.C. — has the CEO feeling optimistic about 2025. The railroad, based in Atlanta, earned $733 million, …
Tri-State Region Blood Center Hit With Ransomware Attack
One of the country’s largest blood donor and research centers has suffered a ransomware attack. The New York Blood Center (NYBC) said that on Sunday, January 26, it identified “suspicious activity” affecting its IT systems. Third-party cybersecurity experts investigated and …
Texas Dairy, Poultry Producers Grapple With Bird Flu
Just as quickly as the bird flu is spreading, the virus is changing. Nearly three years ago, a flock of pheasants in Erath County became the first case of the bird flu in Texas. Since then, the bird flu has …
Aon Reports Organic Growth of 6% for 4th Quarter and Full-Year 2024
Aon reported net income attributable to shareholders of $716 million during the fourth quarter, a 44% increase from the $498 million reported in Q4 2023. For full-year 2024, net income attributable to shareholders increased to $2.7 billion, or $12.49 per …
Hawaii Wildfire Victims Spared From Testifying After Deal Over $4B Settlement
Lawyers representing victims of a deadly Hawaii wildfire reached a last-minute deal averting a trial that was scheduled to begin Wednesday over how to split a $4 billion settlement. The agreement means victims and survivors will not have to testify, …
Howden Said in Talks to Buy Insurance Broker Risk Strategies
Howden, one of the world’s largest closely held insurance brokers, is in talks to acquire Risk Strategies, according to people with knowledge of the matter. The talks to acquire Risk Strategies, which is ultimately backed by private equity firm Kelso …