INSURANCE NEWS
Climate Change ‘Supercharged’ Philippines’ Typhoon Season, Study Finds
A warming climate fueled the blitz of six powerful storms that hit the Philippines within a matter of weeks this year, according to a new study. The conditions that enabled the unusual string of tropical cyclones late in the season, …
Lloyd’s of London Trade Body Examines Planned Conduct Overhaul
Lloyd’s of London members have set up a working party to examine the commercial insurance market’s plans to overhaul its conduct rules, a trade body said on Friday, following criticism of the strengthened powers in the new rules. Lloyd’s has …
Allianz Withdraws $1.63B Offer for Singapore’s Income Insurance
German insurer Allianz has withdrawn its offer to acquire at least 51% of Singapore’s Income Insurance for about $1.63 billion, the company said in a statement on Monday. Reuters reported on Dec. 13 that the insurer had scrapped the proposed …
Iowa Roofer Ordered to Cease Unlicensed Public Adjuster Services
An Iowa roofing company has agreed to a consent order to stop promoting itself as a public adjuster or providing any public adjuster services on its websites, social media pages and advertisements. Darren Reeves Roofing has also agreed to instruct …
Oklahoma Seeks Contractors, Evaluators for Fortified Homes Program
The Oklahoma Insurance Department is seeking applications from contractors and evaluators to participate in the Strengthen Oklahoma Homes program (SOH). SOH provides Oklahoma residents with grants of up to $10,000 to mitigate their home against wind and hail by adopting …
EEOC Sues Texas Pizza Hut Operator for Workplace Discrimination
Ayvaz Pizza, LLC, doing business as Pizza Hut, which operates more than 350 Pizza Hut restaurants in ten states and multiple locations in the Houston area, violated federal law when it subjected a female employee to sex-based harassment and retaliation, …
New Jersey, Minnesota Sue Glock Over Firearms with Adaptable Switches
NEWARK, N.J. (AP) — New Jersey and Minnesota sued Glock last Thursday, calling on the gunmaker to stop selling firearms that can be adapted with dime-sized switches to fire up to 1,200 rounds a minute. New Jersey Attorney General Matt …
70,000 Gallons of Oil Spilled in Wisconsin Pipeline Leak
OAKLAND, Wis. (AP) — Roughly 70,000 gallons (264,978 litres) of oil from a pipeline spilled into the ground in Wisconsin, officials said. The problem was discovered Nov. 11 in Jefferson County, 60 miles (96.5 kilometers) west of Milwaukee, by an …
Trump Tariffs Could Intensify US Trucking Industry Slump, Experts Say
President-elect Donald Trump’s threatened tariffs on top trade partners China, Mexico and Canada would deal a blow to the $1.7 trillion U.S. transportation industry and worsen a nearly three-year trucking recession, sector experts said. The industry that moves everything Americans …
Death of Nasdaq Diversity Rule Signals More Trouble for DEI
The message from Nasdaq as the Black Lives Matter movement exploded across the US: push for diversity – or prepare to explain. Four years later, a federal appeals court has struck down an attempt by Nasdaq’s US exchange – home …
What’s Not Changing in 2025: Homeowners Outlook, Re Retentions
When analysts at AM Best reviewed outlooks for the property/casualty insurance and reinsurance sectors this week, recent good news of a change in outlook for personal lines—and for the personal auto insurance—were the first highlights. But a cloud remains over …
NC Supreme Court Bucks Trend, Finds COVID Caused Physical Loss to Restaurants
Courts across the country have overwhelmingly ruled in favor of insurance carriers in claims disputes following the government-ordered closures of businesses during the COVID-19 pandemic. The North Carolina Supreme Court last week bucked that trend, becoming just the second state …