INSURANCE NEWS
W. R. Berkley Launches Branch Office in India
W. R. Berkley Corp., the Greenwich, Connecticut-based insurer, announced that Berkley Insurance Co. has received regulatory approval to launch a branch office in India. The new branch, Berkley Insurance Co., IFSC Branch GIFT City, Gujarat, marks a significant milestone for …
NHTSA to Extend Airbag Probe Rather Than Require Vehicle Recall
The National Highway Traffic Safety Administration said on Wednesday it will not seek an immediate recall of airbag inflators in about 50 million U.S. vehicles assembled by 13 automakers and instead will conduct further investigation. The agency said in July …
Third Circuit Finds Pennsylvania’s JUA — and Its Surplus— Are Public, Not Private
Pennsylvania’s facility that insures high risk medical professionals is a public agency, not a private entity, the Third Circuit Court of Appeals recently ruled. The ruling by a three-judge panel opens the door for the state to access the Pennsylvania …
Senate Says Climate Is Causing Insurance ‘Crisis’; Industry Strikes Back
The U.S. Senate Budget Committee on Wednesday held a hearing to release a study they said confirms climate change is increasing non-renewal rates in multiple states, but the insurance industry clapped back by saying extreme weather is just part of …
European Insurers’ Fundamentals Resilient to Moderating Premium Rates, Falling Yields
European insurers are approaching the new year from a position of strength, having benefited from supportive interest rates and pricing cycles over the past two years. However, 2025 is expected to present more challenges, with falling yields and moderating premium …
Viewpoint: Strategies for Brokers as M&A Slows and Insurance Rates Soften
The brokerage industry is adapting to a changing landscape as macroeconomic conditions temper the tailwinds that have driven growth in recent years. High interest rates, historical valuations, and tighter access to capital have slowed M&A activity, with deal flow declining …
Donald Trump Sues Iowa Newspaper Over Pre-Election Poll
President-elect Donald Trump sued the Des Moines Register and its pollster for “brazen election interference” in publishing a survey the weekend before the election that showed Democrat Kamala Harris with a surprising lead of three percentage points in the state. …
Can China Shield the Biggest Uninsured Economy From Floods?
The rivers and canals that meander through Hemudu in southeastern China are a vital source of life and community — they provide income for fishermen, an after-school hangout spot for kids, and define the town’s landscape. But when it rains, …
European Central Bank Pitches Plan to Boost Insurance Coverage for Climate Losses
The European Central Bank and the region’s insurance authority proposed a two-pronged approach to increase insurance coverage for floods, storms and other weather disasters that are increasingly being fueled by climate change. One part of the plan is a voluntary …
North Dakota Approves Underground Storage for Proposed CO2 Pipeline
BISMARCK, N.D. (AP) — North Dakota regulators approved permits last Thursday for underground storage of carbon dioxide delivered through a massive pipeline proposed for the Midwest, marking another victory for a project that has drawn fierce opposition from landowners. The …
Arthur J. Gallagher & Co. Acquires Texas-Based DMc Insurance Partners
Arthur J. Gallagher & Co. announced the acquisition of Austin, Texas-based Howe Insurance Group LLC, dba DMc Insurance Partners. Terms of the transaction were not disclosed. DMc Insurance Partners is a personal lines-focused insurance agency serving individuals and small business …
LWCC Acquires North Carolina’s Prescient National
The Louisiana Workers’ Compensation Corporation (LWCC) announced that it will acquire all of the outstanding shares of Prescient National Insurance Company (PNIC) based in Charlotte, North Carolina. The transaction is an all-cash transaction, which has received regulatory approval and is …