INSURANCE NEWS
Energy Transer Fuel Leak in Pennsylvania Lasted 16 Months, PHMSA Says
A pipeline operated by Energy Transfer LP leaked jet fuel for at least 16 months, contaminating residential water wells in Pennsylvania, and the conduit may be at risk for further incidents, according to a preliminary investigation by regulators. Residents of …
John Morgan Wants New Political Party, May Run for Governor of Florida
The man who has been as much of a litigation nemesis to Florida property and casualty insurers as anyone is launching a new political party and may even run for governor next year. Orlando-based trial lawyer John Morgan, head of …
Casualty Reinsurance Capacity Is Plentiful but Availability Crisis Could Be Looming
Reinsurers continued to provide ample casualty reinsurance capacity through the recent January 2025 renewal season – despite concerns about adverse reserve development — however, an availability crisis could be looming, AM Best cautions. In a new report, AM Best points …
Alabama Lawmakers Advance Bill Making it Harder to Sue Police for Excess Force
MONTGOMERY, Ala. (AP) — Divisive legislation that would expand legal immunity for police officers who use excessive force or kill someone in the line of duty advanced in the Alabama legislature on Wednesday, sparking outcry among civil rights attorneys and …
Boston’s Safety Insurance Show Fourth Quarter Profits
Safety Insurance Group Inc. (SAFT) on Tuesday reported profit of $8.1 million in its fourth quarter. On a per-share basis, the Boston-based company said it had net income of 55 cents. Earnings, adjusted for non-recurring costs, came to 94 cents …
Markets/Coverages: MGA Pen Expands International Cover for UK Recruitment Agencies
Pen Underwriting, the London-based managing general agent, has expanded and enhanced its specialist insurance proposition for recruitment agencies, to support clients’ international growth strategies and help them respond to increasing legal liabilities arising from contractual complexities. With immediate effect, Pen’s …
British Drugmaker GSK Abandons Diversity Targets Following Trump Pressure
British drugmaker GSK will no longer set diversity targets, it said on Thursday, as it became the latest company to scale back or abandon such goals in response to the U.S. president’s opposition to them. President Donald Trump has issued …
UK Sets Out Reforms to Address Failures in Grenfell Tower Fire
The UK set out a raft of reforms designed to improve building safety, as it aims to clamp down on failures that contributed to the Grenfell Tower fire. The government is planning tougher rules on construction product safety, backed by …
US GDP Could Take a Big Hit From Climate Change by 2100, Study Shows
A working paper from the U.S. Congressional Budget Office recently estimated the distribution of changes in gross domestic product in the year 2100 resulting from changes in temperature. And it could be bad, really bad—or hopefully not so bad, if …
ZestyAI: More Than $2 Trillion in US Homes at High Risk of Wildfires
While Western wildfires have dominated disaster news for decades, new analysis using artificial intelligence shows millions of homes across the country—even in the swampy Southeast—are at risk for wildfires. New data analysis from ZestyAI found that $2.15 trillion worth of …
BIPA Litigation May Subside but Don’t Sleep on Compliance
Reforms in 2024 to Illinois’ Biometric Information Privacy Act may have slowed the frequency and severity of litigation, but there remain significant consequences for violation of the law. Insurance Journal was able to ask expert Jason M. Rosenthal of Chicago-based …
CFPB Drops Lawsuits Against Capital One, Rocket Unit
The Consumer Financial Protection Bureau dropped a slew of Biden-era lawsuits against lenders as the nominee to lead the agency pledged to “right size” the watchdog under President Trump. The CFPB dismissed cases against Capital One Financial Corp., a unit …