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Category: Insurance Journal

The Hanover Reports 11% Growth in Q1 Net Income
Insurance Journal | May 1, 2025
The Hanover Reports 11% Growth in Q1 Net Income
First quarter net income for The Hanover Group grew to $128.2 million compared to $115.5 million during the same period a year ago. The Worcester, Massachusetts-based insurer’s Q1 combined ratio was 94.1, and improvement over 95.5 a year ago during …
Attorney Fee Amendment Shot Down by Florida Senate; Condo Relief Bill Passes
Insurance Journal | May 1, 2025
Attorney Fee Amendment Shot Down by Florida Senate; Condo Relief Bill Passes
Florida’s Senate late Wednesday refused to go along with a prevailing-party attorney-fee amendment to a phosphate mine bill, likely leaving it dead for 2025 as the legislative session nears the end. The amendment to Senate Bill 832, approved by the …
LA Fire Investigation Will Take a Year or More, Edison CEO Says
Insurance Journal | May 1, 2025
LA Fire Investigation Will Take a Year or More, Edison CEO Says
The probe into the deadly Southern California Eaton fire is likely to take a year or more as authorities examine Edison International’s utility equipment as the possible cause, according to the company’s chief executive officer. Edison, meanwhile, is conducting its …
Business Moves: CRC Group Acquires ARC in E&S Deal
Insurance Journal | May 1, 2025
Business Moves: CRC Group Acquires ARC in E&S Deal
Independent insurance wholesaler CRC Group said it has acquired specialty wholesale distributor ARC Excess & Surplus. Terms were not disclosed. ARC was founded in 1986 by Chris Cavallaro as a boutique management and professional liability wholesale broker, and then later …
Arthur J. Gallagher & Co. Acquires New Zealand’s First Capital Financial Services
Insurance Journal | May 1, 2025
Arthur J. Gallagher & Co. Acquires New Zealand’s First Capital Financial Services
Arthur J. Gallagher & Co. announced the acquisition of New Zealand-based First Capital Financial Services and its affiliate First Capital Wealth Management. Terms of the transaction were not disclosed. First Capital is a financial advisory firm providing wealth management, risk …
Severe Storms Take 4 Lives, Cause Power Outages, Close Roads in Pennsylvania
Insurance Journal | May 1, 2025
Severe Storms Take 4 Lives, Cause Power Outages, Close Roads in Pennsylvania
Officials and first responders in Pennsylvanians are assessing and cleaning up the damage caused after severe storms swept across western and central parts of the state Tuesday.. Officials reported four deaths linked to the severe weather. The National Weather Service …
Scientists Tally Oil Majors’ Climate Damage With Eye to Legal Liability
Insurance Journal | May 1, 2025
Scientists Tally Oil Majors’ Climate Damage With Eye to Legal Liability
Over the last decade, scientists have rapidly developed the field of climate attribution research, teasing out the role played by global warming in individual natural disasters. Meanwhile, their ways of tracking a single emitter’s influence on temperature or sea-level rise …
Court Questions NJ Diocese’s Bid to Block Grand Jury on Clergy Sex Abuse
Insurance Journal | May 1, 2025
Court Questions NJ Diocese’s Bid to Block Grand Jury on Clergy Sex Abuse
Members of New Jersey’s Supreme Court sounded skeptical at times Monday about the effort of a Catholic diocese to stop the state from empaneling a grand jury to investigate clergy sexual abuse allegations. The high court is considering the state …
Chinese Hacking Competitions Fuel the Country’s Broad Cyber Ambitions
Insurance Journal | May 1, 2025
Chinese Hacking Competitions Fuel the Country’s Broad Cyber Ambitions
Dustin Childs can still describe the best demonstration of a winning hack at an international tournament he’s ever seen. It happened almost a decade ago. The participants had to find a way to break into a Windows workstation that was …
Viewpoint: Regulatory Proposals in Australia, Malaysia Reshape Reinsurance Strategies
Insurance Journal | May 1, 2025
Viewpoint: Regulatory Proposals in Australia, Malaysia Reshape Reinsurance Strategies
The regulatory landscape in the Asia-Pacific region is rapidly evolving, influencing insurers’ risk management and capital adequacy. Australia and Malaysia are two examples of markets where recent regulatory developments are likely to influence the use of reinsurance, in particular. Regulators …