INSURANCE NEWS
Cyber, Business Interruption, Natural Disasters Listed as Top 3 Business Risks: Allianz
Cyber, business interruption and natural catastrophes are the top three risks that concern global businesses, according to the Allianz Risk Barometer 2025. Cyber incidents, such as ransomware attacks, data breaches and IT outages, is the top global risk for 2025, …
War Anxiety Grips Davos Experts With Ukraine Peace Still Elusive
War is the top worry wracking the nerves of risk experts surveyed by the World Economic Forum, despite incoming US President Donald Trump’s vow to end hostilities in Ukraine. “State-based armed conflict” is the most pressing immediate concern for 2025 …
FTC Prepares Lawsuit Over Deere Equipment Repair Practices
The US Federal Trade Commission has prepared a lawsuit against tractor giant Deere & Co. alleging the company’s agricultural equipment repair practices violate competition laws, according to people familiar with the matter. The agency is prepared to file the case …
Biden Signs Executive Order to Ensure Power for AI Data Centers
President Joe Biden signed an executive order on Tuesday to provide federal support to address massive energy needs for fast-growing advanced artificial intelligence data centers, the White House said. The order calls for leasing federal sites owned by Defense and …
New Auto Liability Minimums Take Effect in North Carolina
This month, the minimum automobile liability coverage requirements in North Carolina jumped to 50/100/50, among the highest minimums in the country. The change is the result of Senate Bill 452, approved in 2023 and which became law last year. The …
Insurance Journal’s ‘Agents of the Year’ Nomination Deadline Soon.
Are you a top agent/producer? Do you know someone at your agency who is? Insurance Journal is searching for the nation’s leading independent agents and producers to become part of Insurance Journal’s Agents of the Year listing to be published …
Construction Firm Owner Sentenced for Tax, Mail and Workers Compensation Fraud
A Hopkinton man was sentenced on Jan. 10, 2025 in federal court in Boston for defrauding the Internal Revenue Service (IRS) and Travelers Insurance Co. over wages he paid to employees of his two construction companies. According to U.S. Attorney …
Minneapolis to Overhaul Police Training After George Floyd’s Murder
The Minneapolis City Council this month approved an agreement with the federal government to overhaul the city’s police training and use-of-force policies in the wake of the murder of George Floyd. The deal incorporates and builds on changes the Minneapolis …
DARAG Acquires Run-Off Portfolio From wefox Insurance AG
DARAG, a leading legacy acquirer with a focus on the European and UK market, and wefox Insurance AG, the Liechtenstein-domiciled insurance carrier of wefox Group, announced the transfer of a run-off portfolio including motor damage and third-party liability, private liability …
Iowa Insurance Division Joins $17M Settlement With Edward Jones
The Iowa Insurance Division, a member of the North American Securities Administrators Association (NASAA), announced last week it has joined a $17 million settlement with Edward D. Jones & Co., L.P. (Edward Jones) resulting from an investigation into the broker-dealer’s …
FTC Says CVS, Cigna and UnitedHealth Abuse Middleman Role
Units of CVS Health Corp., Cigna Group and UnitedHealth Group Inc. charged significantly more than the national average acquisition cost for dozens of specialty generic drugs, bringing in more than $7.3 billion in excess revenue over six years, the Federal …
South Carolina Extends Use of Emergency Adjusters After Helene
Property and auto insurers in South Carolina can keep non-resident adjusters on the job for at least another 90 days, until April 25, due to the continued need after Hurricane Helene, the state insurance commissioner said in a bulletin posted …