INSURANCE NEWS
Kalshi Cannot Operate Sports-Prediction Market in Massachusetts, Judge Rules
A Massachusetts judge on Tuesday ruled prediction-markets operator Kalshi cannot let state residents bet on sports through its online platform, after the state’s attorney general accused it of running afoul of gaming regulators. Suffolk County Superior Court Judge Christopher Barry-Smith …
Snowstorm Sparks 100-Vehicle Pileup in Michigan
More than 100 vehicles smashed into each other or slid off an interstate in Michigan on Monday as snow fueled by the Great Lakes blanketed the state. The massive pileup prompted the Michigan State Police to close both directions of …
Severe Convective Storms Become Costliest Insured Peril of 21st Century: Aon
Severe convective storms (SCS) have surpassed tropical cyclones to become the costliest insured peril of the 21st century, according to Aon plc. Total economic losses reached $260 billion — 23% below the 21st-century average and the lowest since 2015, said …
Consumer Group Got $1.4M Intervening in California Rate Filings, CDI Says
California Department of Insurance data show one consumer advocacy group earned $1.4 million in fees last year from a program that pays people and advocates to intervene in rate hearings. Consumer Watchdog received $1,427,280.80 in fees from the state’s inventor …
Travelers Q4 Net Income Up 20% on Underwriting, Lower Catastrophe Losses
Fourth quarter 2025 net income at The Travelers Cos. increased about 20% compared with the same period a year ago, to about $2.5 billion. Underwriting, lower catastrophe losses, and more favorable prior year reserve development bolstered financial results for the …
Wells Fargo to Move Wealth Headquarters to West Palm Beach
Wells Fargo & Co. is moving the headquarters for its wealth-management business to West Palm Beach, becoming the first big bank to run that operation from the heart of the wealth boom in South Florida. The San Francisco-based firm signed …
Texas Faces Freeze While Weekend Snow Risks Rise in New York
A massive winter storm will sweep across a huge swath of the US starting Friday, freezing Texas before roaring up the East Coast, where New York City and Boston are seeing a strong chance of heavy snow by Sunday. Air …
Trucordia Continues Expansion With Acquisition of Florida Insurance Inc.
Trucordia, ranking in the top 20 largest U.S. insurance brokerages, has again expanded its reach, this time with the acquisition of Florida Insurance Inc. in Dunedin, near Tampa. Trucordia, based in Lindon, Utah, offers commercial and personal lines and employee …
Insurtech Lemonade Starts Autonomous Car Product With Tesla’s Data
Insurtech Lemonade said it has launched Lemonade Autonomous Car insurance, and will begin with a technical collaboration with Tesla that gives the insurer access to vehicle data. For starters, Lemonade said the new offering cuts per-mile rates for Tesla’s full …
Japan’s TEPCO Restarts Nuclear Reactor for First Time Since Fukushima Disaster in 2011
Tokyo Electric Power Co. (TEPCO) Wednesday restarted a reactor at the Kashiwazaki-Kariwa nuclear power plant after inspections were completed, its first such move since the Fukushima disaster in 2011. TEPCO put online the 1.36 gigawatt (GW) reactor No. 6, one …
Experts Can Testify About Suspected J&J Talc Products’ Cancer Link
In a victory for thousands of women suing Johnson & Johnson over claims that the company’s baby powder and other talc products caused their ovarian cancer, a court-appointed special master recommended on Tuesday that they be allowed to present testimony …
EU ‘Fully Prepared’ to Hit Back Over Trump’s Greenland Tariffs
The European Union is ready to strike back at Donald Trump over his tariff threats as he seeks to take Greenland, European Commission President Ursula von der Leyen said, toughening her rhetoric against the US president. “We are at a …