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Category: Insurance Journal

CSB Releases Update Into Fatal Texas Hydrogen Sulfide Release
Insurance Journal | March 20, 2025
CSB Releases Update Into Fatal Texas Hydrogen Sulfide Release
The U.S. Chemical Safety and Hazard Investigation Board (CSB) released a second update on its ongoing investigation into the fatal hydrogen sulfide release that occurred on October 10, 2024, at the PEMEX Deer Park Refinery in Deer Park, Texas. Two …
Wall Street Brokers Start Trading Insurer Claims From LA Fires
Insurance Journal | March 20, 2025
Wall Street Brokers Start Trading Insurer Claims From LA Fires
Wall Street brokers have started selling insurers’ claims tied to Los Angeles’ deadly wildfires, which may trigger a payout from the utilities blamed for the destruction, according to people familiar with the matter. Investors are buying so-called subrogation claims, obtaining …
Tesla Recalls Most Cybertrucks Due to Trim Detaching From Vehicle
Insurance Journal | March 20, 2025
Tesla Recalls Most Cybertrucks Due to Trim Detaching From Vehicle
Tesla is recalling nearly all Cybertrucks in the United States to fix an exterior panel that could detach while driving, the company said on Thursday, the latest in a series of call-backs for the pickup truck. The recall covers just …
Delaware Corporate Law Reform Heads to Final Vote Amid Criticism It Favors Billionaires
Insurance Journal | March 20, 2025
Delaware Corporate Law Reform Heads to Final Vote Amid Criticism It Favors Billionaires
Delaware lawmakers are expected to vote as soon as next week to overhaul the state’s corporate law to protect its business-friendly reputation, but opponents have called the bill a giveaway to billionaires. The bill makes it hard for investors to …
CoreLogic: Approximately 170K Properties Potentially Impacted by Severe Storms
Insurance Journal | March 20, 2025
CoreLogic: Approximately 170K Properties Potentially Impacted by Severe Storms
Approximately 170,000 properties were potentially impacted by the severe outbreak across the Midwest and Mississippi Valley, in addition to wildfires and dust storms across the Southern Plains, CoreLogic said. The early season tornado outbreak over March 13-16 spawned at least …
Riverstone in Loss Portfolio Transfer Deal With Lyft Subsidiary
Insurance Journal | March 20, 2025
Riverstone in Loss Portfolio Transfer Deal With Lyft Subsidiary
RiverStone International has signed an agreement with Lyft subsidiary Pacific Valley Insurance Co. to provide a loss portfolio transfer reinsurance for a commercial auto liability portfolio. The deal is effective from Jan. 1, 2025. Guy Carpenter was the broker of …
AI Is Turbocharging Organized Crime, EU Police Agency Warns
Insurance Journal | March 20, 2025
AI Is Turbocharging Organized Crime, EU Police Agency Warns
The European Union’s law enforcement agency cautioned Tuesday that artificial intelligence is turbocharging organized crime that is eroding the foundations of societies across the 27-nation bloc as it becomes intertwined with state-sponsored destabilization campaigns. The grim warning came at the …
ERGO Enters US Small Business Insurance Market With Full Buy of NEXT Insurance
Insurance Journal | March 20, 2025
ERGO Enters US Small Business Insurance Market With Full Buy of NEXT Insurance
Munich Re said it has acquired NEXT Insurance, which will become part of the reinsurer’s major primary insurance business, ERGO. The agreement in place values NEXT Insurance at $2.6 billion. ERGO already owned nearly 30% of the digital insurance company’s …
Greenpeace to Pay $660 Million in Damages to Texas Oil Firm
Insurance Journal | March 20, 2025
Greenpeace to Pay $660 Million in Damages to Texas Oil Firm
Greenpeace has been ordered to pay more than $660 million in damages to Energy Transfer Partners LP after the Texas-based oil company accused the environmental group of defamation in connection with protests against an oil pipeline almost a decade ago. …
Young Insurance Agents – Share Your Thoughts About the Industry Today
Insurance Journal | March 20, 2025
Young Insurance Agents – Share Your Thoughts About the Industry Today
Are you a young insurance agent, 40 years old or younger? Do you know a young insurance agent? Insurance Journal is once again looking for young insurance agents to participate in this year’s Young Insurance Agents Opinion Survey. Tell us …