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Category: Insurance Journal

Oil Executives Call for Cautious Return to Red Sea Navigation
Insurance Journal | February 10, 2025
Oil Executives Call for Cautious Return to Red Sea Navigation
Oil executives called on Thursday [Feb. 6] for a return to navigation through the Red Sea en route to the Suez Canal following a halt in attacks by Iran-backed Houthi rebels, but said firms were cautiously monitoring shipping conditions and …
China Frees Possible $27 Billion From Insurers to Buy Gold
Insurance Journal | February 10, 2025
China Frees Possible $27 Billion From Insurers to Buy Gold
A pilot program in China that allows insurers to buy gold for the first time could free up billions of dollars of investment in the metal, adding further impetus to a record-setting rally. Prices hit a fresh peak. Ten insurance …
China Asks Insurers to Manage Sufficient Capital and Liquidity Buffers
Insurance Journal | February 10, 2025
China Asks Insurers to Manage Sufficient Capital and Liquidity Buffers
China’s National Financial Regulatory Administration on Saturday issued guidelines for insurance groups to manage “concentration risks,” asking insurers to hold sufficient capital and liquidity buffers. The guidelines asked insurers to formulate a concentration risk management strategy and mitigation mechanisms and …
Viewpoint: Early Executive Actions by Trump Portend a Major Contraction at OSHA
Insurance Journal | February 10, 2025
Viewpoint: Early Executive Actions by Trump Portend a Major Contraction at OSHA
President Trump was sworn in for a second term the morning of January 20, and he spent the rest of that day setting a record for the most ever Day 1 executive actions. Among those Day 1 executive actions (and …
NCDOI Fines UnitedHealthcare $3.4 Million Over Balance Billing of Insureds
Insurance Journal | February 10, 2025
NCDOI Fines UnitedHealthcare $3.4 Million Over Balance Billing of Insureds
UnitedHealthcare of North Carolina has agreed to pay a $3.4 million fine and take action to improve claims handling and prevent balance billing for out-of-network treatment after a state Department of Insurance investigation detailed multiple allegations. “Patients receiving emergency room …
Florida OIR Approves Smaller Average Rate Increases for Citizens This Year
Insurance Journal | February 10, 2025
Florida OIR Approves Smaller Average Rate Increases for Citizens This Year
Just as many Florida property insurers had hoped to see a boost to the private market with a maximum rate increase for Citizens Property Insurance Corp., state regulators have slashed the rate hike by more than half. After an unusually …
Viewpoint: How Will the California FAIR Plan Fare, and What’s Next for Independent Agents?
Insurance Journal | February 10, 2025
Viewpoint: How Will the California FAIR Plan Fare, and What’s Next for Independent Agents?
If there is a single bright spot to be found in the aftermath of the costliest wildfire in California’s history, it is that both the property/casualty insurance industry and the independent agents who serve as its personal point of contact …
Passengers Safely Evacuated When Fire Engulfs Train in Philadelphia
Insurance Journal | February 9, 2025
Passengers Safely Evacuated When Fire Engulfs Train in Philadelphia
Federal officials will investigate a commuter train fire in Philadelphia this week in which more than 300 passengers were safely evacuated. The National Transportation Safety Board announced Friday that it will look into the blaze, which was reported about 6 …
UMass Pays Out $10K After Tiff With Insurer Over Student’s Prize for Half-Court Shot
Insurance Journal | February 9, 2025
UMass Pays Out $10K After Tiff With Insurer Over Student’s Prize for Half-Court Shot
UMass said it would pay a student the $10,000 prize for a halftime promotion at a women’s basketball game after a dispute with an insurance company over whether he stepped over the line when he made a half-court shot. Noah …
AccuWeather: Elevated Risk of Mudslides at LA Wildfire Burn Scars From Coming Storm
Insurance Journal | February 7, 2025
AccuWeather: Elevated Risk of Mudslides at LA Wildfire Burn Scars From Coming Storm
Meteorologists are warning of an elevated risk of dangerous debris flows and destructive mudslides in Southern California next week in areas scorched by destructive Los Angeles wildfires. AccuWeather meteorologists expect between 2 inches and 4 inches of rain near the …