INSURANCE NEWS
Five Collision Claim Trends to Watch in 2025
The auto insurance industry has weathered its share of storms in recent years. Despite fewer claims in early 2024, carriers still face headwinds when it comes to vehicle complexity and its effect on severity and cycle time. Following are the …
Allied World Policy Doesn’t Cover Troubled Sperm Bank’s Lawsuits, Court Says
At what point does a demand from an injured party constitute an insurance claim? In the case of a Georgia-based sperm bank, it’s when the injured party sends the letter – a date that came before the clearly worded policy …
Arthur J. Gallagher & Co. Acquires Durham & Bates in Oregon
Arthur J. Gallagher & Co. acquired Portland, Oregon-based Durham & Bates Agencies Inc. Jeremy Andersen, Sean McCarthy, Christen Picot, Stephanie Murphy, David Hearns and their team will remain in their current location under the direction of Jim Buckley, head of …
Losses From Crypto Hacks Jump to $2.2 Billion in 2024, Report Says
Funds stolen by hacking cryptocurrency platforms surged 21% from a year ago to $2.2 billion in 2024, a report from blockchain analysis firm Chainalysis showed on Thursday. The hacking amount exceeded $1 billion for the fourth straight year and the …
ZestyAI Receives Regulatory Approval From Iowa Insurance Division
ZestyAI, a provider of AI-informed climate and property risk analytics solutions, has received regulatory approval from the Iowa Insurance Division for its Severe Convective Storm suite, including Z-HAIL, Z-WIND, and Z-STORM. ZestyAI’s Severe Convective Storm suite has already received approvals …
Michigan Taco Restaurant Owner Ordered to Pay $823K in Back Wages
A federal court has ordered the owner of three West Michigan taco restaurants to pay 177 workers a total of $823,326 after the court granted the U.S. Department of Labor’s request for summary judgment, concluding that the restaurants operated an …
Freight Train Collision in West Texas Kills 2 Union Pacific Employees
Two Union Pacific employees were killed and three people were injured when a freight train collided with a tractor-trailer and derailed in a small West Texas city, authorities said Thursday. The train derailed around 5 p.m. Wednesday in Pecos after …
Texas Teacher Killed and Toddlers Injured in Daycare Crash
SAN ANTONIO (AP) — A teacher at a San Antonio-area day care was killed and another employee and five toddlers were injured when a parent’s car accelerated into another vehicle in the parking lot and both vehicles crashed into a …
Texas Bill Aims to Combat Forever Chemicals in Fertilizers
Johnson County’s newest state representative, Helen Kerwin, R-Cleburne, filed her first bill Friday targeting an environmental problem that has struck her county: PFAS contamination in sewage sludge-based fertilizers. Kerwin said House Bill 1674, could reduce the presence of PFAS, or …
CFPB Sues Walmart, Fintech for Illegally Opening Accounts
Walmart Inc. and one of its financial technology partners allegedly opened expensive bank accounts for delivery drivers without their consent, a US consumer protection agency said on Monday. The Consumer Financial Protection Bureau sued Walmart and Branch Messenger Inc., claiming …
US Bans Drones Over Infrastructure Sites in New York, New Jersey
The Federal Aviation Administration said on Thursday it was temporarily barring drone flights over dozens of critical infrastructure sites in New Jersey and New York. A frenzy of concern about drones in New Jersey and surrounding states has prompted a …
Virginia Governor Proposes $127 Million Disaster Relief Fund
Virginia Governor Glenn Youngkin, citing damage done by Hurricane Helen and other disasters, has proposed a $127 million disaster assistance fund to fill gaps left behind in communities by insurance and federal and private recovery efforts. Youngkin called the fund …