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Category: Insurance Journal

Moody’s RMS Adds to LA Fires Insured Loss Estimates With Range of $20B-$30B
Insurance Journal | January 20, 2025
Moody’s RMS Adds to LA Fires Insured Loss Estimates With Range of $20B-$30B
Moody’s RMS Event Response said insured losses for the January 2025 Los Angeles fires will likely fall in the $20 billion to $30 billion range. The Jan. 17 estimate from Moody’s RMS came a day after CoreLogic put out a …
City of London’s Tallest Tower Fully Leased With RiverStone International Deal
Insurance Journal | January 20, 2025
City of London’s Tallest Tower Fully Leased With RiverStone International Deal
The tallest skyscraper in the City of London financial district has reached full occupancy just over four years after it was completed. RiverStone International, a holding company that acquires insurance businesses, has leased the final remaining floor at 22 Bishopsgate, …
Four Canadian Banks Quit Climate Group as Exodus Begun by Wall Street Picks Up
Insurance Journal | January 20, 2025
Four Canadian Banks Quit Climate Group as Exodus Begun by Wall Street Picks Up
Four of Canada’s biggest banks are leaving the industry’s top climate-finance alliance, joining Wall Street peers and extending an exodus that started in early December. Canadian Imperial Bank of Commerce, Toronto-Dominion Bank, Bank of Montreal and National Bank of Canada …
Red Sea Trade Route to Remain too Risky Even After Gaza Ceasefire: Industry Executives
Insurance Journal | January 20, 2025
Red Sea Trade Route to Remain too Risky Even After Gaza Ceasefire: Industry Executives
Companies transporting their products around the world are not ready to return to the Red Sea trade route in the wake of a Gaza ceasefire deal because of uncertainty over whether Yemen’s Houthis will continue to attack shipping, industry executives …
EU Plans Ban on ‘Forever Chemicals’ in Consumer Products
Insurance Journal | January 20, 2025
EU Plans Ban on ‘Forever Chemicals’ in Consumer Products
The European Commission intends to propose a ban on the use of PFAS, or “forever chemicals,” in consumer products, with exemptions for essential industrial uses, the EU’s environment chief told Reuters. PFAS, or Perfluoroalkyl and Polyfluoroalkyl Substances, do not break …
Louisiana Citizens Ends Assessment on Property Policies Ahead of Schedule
Insurance Journal | January 17, 2025
Louisiana Citizens Ends Assessment on Property Policies Ahead of Schedule
The Louisiana Citizens Property Insurance Corporation (Louisiana Citizens) Board of Directors voted last week to end the 1.36% assessment it makes on all residential and commercial property insurance policies in the state in April of this year. The assessment, which …
Wisconsin’s Rural Mutual and Badger Mutual Finalize Affiliation Agreement
Insurance Journal | January 17, 2025
Wisconsin’s Rural Mutual and Badger Mutual Finalize Affiliation Agreement
Rural Mutual Insurance Company and Badger Mutual Insurance Company, with a combined 227 years of providing farm, commercial, and personal policies, have finalized their affiliation agreement based on regulatory approval from the Wisconsin Office of the Commissioner of Insurance (OCI) …
Cleveland City Files Lawsuit to Prevent Browns’ Move to Suburban Dome
Insurance Journal | January 17, 2025
Cleveland City Files Lawsuit to Prevent Browns’ Move to Suburban Dome
Cleveland’s fight to keep the Browns from moving from downtown and into a proposed dome in the suburbs has taken yet another legal turn. The city has filed a lawsuit to stop the NFL team from leaving Cleveland’s lakefront when …
Deere & Co. Accused of Forcing Farmers to Use Authorized Dealers for Equipment Repair
Insurance Journal | January 17, 2025
Deere & Co. Accused of Forcing Farmers to Use Authorized Dealers for Equipment Repair
Deere & Co. unfairly forces farmers to visit authorized dealers to repair their equipment, resulting in higher prices than if they could fix it themselves or get help from independent shops, the Federal Trade Commission claims in a federal lawsuit …
The Most Important LA Wildfire Stories to Know About
Insurance Journal | January 10, 2025
The Most Important LA Wildfire Stories to Know About
As firefighters gain more control over what have become the most destructive wildfires in U.S. history in a matter of days, the scale of the destruction and losses is becoming clearer. Despite the cacophony of a world stage that includes …