INSURANCE NEWS
Georgia Commissioner’s Office Offers $10,000 Reward for Help on String of Arsons
The Georgia Insurance Commissioner’s office is offering a reward of as much as $10,000 for information leading to the culprit behind a vehicle fire, one of several suspicious fires in Cedartown in recent months. After local firefighters subdued the vehicle …
Trump Admin Wants to Close Watchdog on West Virginia’s Chemical Disasters
After a chemical leak at the Ames Goldsmith plant in Kanawha County killed two workers and injured dozens more last month, federal investigators quickly arrived in West Virginia to begin piecing together what went wrong. Now, the federal agency tasked …
Colorado Governor Signs Law Aimed at Lowering Homeowners Insurance Costs
Colorado Gov. Jared Governor Polis signed a bill into law that proponents say will lower the price of homeowners insurance in Colorado, Polis signed SB26-155, called Increase Access Homeowner’s Insurance Enterprise, designed to make it more affordable for residents to …
LinkedIn China Spying Threat Prompts Warning From US, Allies
The US and its “Five Eyes” intelligence partners issued what they said was an unprecedented joint notice warning about attempts by Chinese spies to use websites such as LinkedIn to recruit assets. “China’s military intelligence services are using an increasingly …
Allianz Is Said to Be in Advanced Talks to Buy Portuguese Insurer Caravela
Allianz SE is in advanced talks to buy Caravela Seguros after submitting an offer for the Portuguese insurer, according to people familiar with the matter. Allianz is currently discussing a potential acquisition of Caravela Seguros with company shareholders, said the …
Renewals for Most Commercial Lines Decrease in May, Says Ivans
Year over year, average U.S. commercial premium renewals for May increased in all lines except workers’ compensation, according to the Ivans Index. However, month over month, commercial auto, business owners policy, general liability, and umbrella saw a decrease, while commercial …
Howard Hughes Holdings Completes $2.1B Acquisition of Re/insurer Vantage Group
Vantage Group Holdings Ltd., the Bermuda-based specialty re/insurer, announced it has been successfully acquired by Howard Hughes Holdings Inc. (HHH) for approximately $2.1 billion. The all-cash acquisition of Vantage anchors HHH’s strategy to transform itself into a diversified holding company, …
United Co-Pilot Warned Plane Was Slow, Low Before Newark Mishap
The first officer on a United Airlines Holdings Inc. plane that struck a light pole while landing at Newark Liberty International Airport last month told safety investigators that he warned his captain that the aircraft was “slow and a little …
US House Lawmakers Release Draft Bill to Prohibit State AI Rules
A bipartisan pair of U.S. House lawmakers released draft legislation on Thursday that would prohibit states from regulating the development of artificial intelligence models, a move praised by tech firms but criticized by consumer rights advocacy groups. The draft legislation, …
Viewpoint: Shopping for Cyber Insurance? Start With the End in Mind
The moment a cyber incident hits, the nature of the insurance relationship becomes clear. A policy is only as valuable as the team behind it, and the right claims partner can make an otherwise stressful situation manageable, guiding your client …
Big ‘I’ Launches New TrustedChoice.com Agency Locator
The Independent Insurance Agents & Brokers of America (the Big “I”) said it launched its new TrustedChoice.com agency locator to help consumers find and connect with local independent agents. Available to all Big “I” member agencies, the all-new agency locator …
IBM, AT&T Accused by Whistleblower of Covering Up Foreign Hacks
International Business Machines Corp. and AT&T Inc.’s computer systems were repeatedly breached by foreign hackers, and the companies concealed those intrusions from the US government in violation of the law, according to a lawsuit from a former IBM cybersecurity official. …