INSURANCE NEWS
Texas Farmers Look to New Congress to Update Crucial Farm Bill
Texas farmers tepidly celebrated last month after Congress barely managed to extend a package of laws meant to aid the nation’s agriculture industry and feed low-income Americans. The clock is now ticking for federal lawmakers to pass a new, updated …
Rare Dallas Snow and Ice Ground Hundreds of Flights Across US
A winter storm that brought snow to Dallas and threatens the US South with ice and sleet has grounded more than 1,000 flights and is raising the risk of power outages through the region. As of 8 a.m. Dallas time …
Floods Are Top Risk to Supply Chains in 2025, Everstream Says
Flooding poses the greatest threat to supply chains this year, as warm ocean temperatures fuel more frequent and disruptive storms, including powerful hurricanes, according to a report. Ocean temperatures are expected to be elevated in 2025 and beyond, meaning disruptive …
People Moves: WTW Names Wegbrans as Head of Corporate Risk & Broking Europe; Howden Re Taps Aon’s Nicholson, Lockton Re’s Riley for Aviation and Space Team
This edition of International People Moves details appointments at WTW and Howden Re. A summary of these new hires follows here. WTW Names Wegbrans as Head of Corporate Risk & Broking Europe Insurance broker WTW announced the appointment of Hugo …
EU Bank Regulator Tightens ESG Rules as Climate Risk Grows
Europe’s financial regulator for banks said lenders in the bloc must regularly and comprehensively measure ESG risks, in new guidelines designed to shore up the industry amid growing threats to financial stability from environmental and social factors. “ESG risks, in …
Major Florida Citrus Grower to End Operations After Years of Hurricanes and Blight
ORLANDO, Fla. (AP) — A major grower said this week it is abandoning its citrus growing operations, reflecting the headwinds Florida’s signature crops are facing following a series of hurricanes and tree diseases. Alico Inc. announced this week that it …
Florida Grand Jury Finds No Criminal Activity With COVID Vaccine Development
TALLAHASSEE, Fla. (AP) — A statewide grand jury convened at the request of Florida Gov. Ron DeSantis to investigate “any and all wrongdoing” concerning COVID-19 vaccines did not find any evidence of criminal activity, according to a report unsealed on …
Apple Clarifies Siri Privacy Stance After $95M Class Action Settlement
Apple clarified on Wednesday that it has never sold the data collected by its Siri voice assistant or used it to create marketing profiles, just days after settling a case in which it faced such accusations. The iPhone maker last …
Insured Losses From Natural Disasters Hit $140B as Climate Change ‘Shows Its Claws’
Insurers saw the third most expensive year for natural catastrophe losses in 2024 – reaching a total of US$140 billion – as climate change “is showing its claws,” according to Munich Re. Overall economic losses from natural disasters worldwide reached …
Los Angeles Fires Become Existential Test for California’s Stopgap Insurer
The conflagrations tearing across Los Angeles are on track to be among the most expensive wildfire disasters in U.S. history, draining insurance coffers and threatening California’s massive state-sponsored insurance program. Losses from the fires “could push insurance markets over the …
Maine Storm Resilience Proposal Includes Insurance Industry-Funded Mitigation Grants
Maine Governor Janet Mills along with House and Senate leaders are championing major legislation to strengthen the ability of local communities, homeowners, businesses, and emergency responders to prepare for and withstand future severe storms. The bipartisan legislation, sponsored by Senate …
Commercial Property Market Stabilizing, With Ample Capacity: USI
The commercial property market is showing signs of stabilization, and buyers with favorable risk profiles will see rate decreases or low-single-digit increases this year, according to USI Insurance Services’ 2025 Commercial Property & Casualty Market Outlook. Accounts with unfavorable loss …