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Category: Insurance Journal

US Reversal on Key Climate Finding Spells Uncertainty for Business
Insurance Journal | August 1, 2025
US Reversal on Key Climate Finding Spells Uncertainty for Business
The Trump administration has billed its plan to undo U.S. climate regulation as a way to cut costs for industry, but it may backfire by forcing automakers, utilities, and manufacturers into a future of regulatory uncertainty and litigation risk, according …
Florida OIR Approves 31.5% ‘Catch-up’ Rate Increase for TRUE, Despite Missed Filings
Insurance Journal | August 1, 2025
Florida OIR Approves 31.5% ‘Catch-up’ Rate Increase for TRUE, Despite Missed Filings
Florida’s Office of Insurance Regulation this week approved an average 31.5% increase in homeowner rates for Trusted Resource Underwriters Exchange – one of the largest Florida rate hikes in two years – despite questions about irregularities by the company and …
California Commissioner Takes Legal Action Against FAIR Plan for Smoke Damage Claims
Insurance Journal | July 31, 2025
California Commissioner Takes Legal Action Against FAIR Plan for Smoke Damage Claims
California Insurance Commissioner Ricardo Lara is taking legal action against the California FAIR Plan Association for reportedly denying and limiting smoke damage claims from wildfire survivors. The California Department of Insurance filed an order to show cause against the FAIR …
No Mention of Robotaxi as Tesla Launches Ride-Hailing in San Francisco
Insurance Journal | July 31, 2025
No Mention of Robotaxi as Tesla Launches Ride-Hailing in San Francisco
Tesla launched a ride-hailing service in the San Francisco Bay Area on Thursday, without indicating whether it would be using self-driving vehicles that power its Austin, Texas operations. California has not permitted Tesla to offer robotaxi service, and the limited …
PERILS Offers Severe Convective Storm Loss Reporting for Europe, Japan, New Zealand
Insurance Journal | July 31, 2025
PERILS Offers Severe Convective Storm Loss Reporting for Europe, Japan, New Zealand
PERILS AG, the independent Zurich-based company that provides industry-wide catastrophe insurance data, announced the inclusion of severe convective storm (SCS) industry loss reporting for Europe (Austria, Belgium, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Switzerland, United Kingdom), Japan and New Zealand. …
Broker WTW Beats Q2 Profit Estimates on Robust Product Demand
Insurance Journal | July 31, 2025
Broker WTW Beats Q2 Profit Estimates on Robust Product Demand
Willis Towers Watson beat Wall Street estimates for second-quarter profit on Thursday, driven by a strong performance in its risk and brokerage business. Despite rising premium costs, businesses increased spending on insurance products as they prioritized financial protection in response …
Verisk’s $2.35B Buy of AccuLynx ‘Natural Fit’ for Claims Management Solutions
Insurance Journal | July 30, 2025
Verisk’s $2.35B Buy of AccuLynx ‘Natural Fit’ for Claims Management Solutions
Insurance data analytics and technology firm Verisk said it has an agreement in place to acquire AccuLynx, a software-as-a-service platform designed for residential roofing contractors, for $2.35 billion. Verisk said in a July 30 announcement that both companies play key …
Cotality Estimates $1.1B in Damage to Residential Buildings from Central Texas Floods
Insurance Journal | July 30, 2025
Cotality Estimates $1.1B in Damage to Residential Buildings from Central Texas Floods
Cotality estimates that the recent Central Texas flash floods caused $1.1 billion in damage to residential buildings, with the National Flood Insurance Program providing as much as $135 million in insurance recoveries to home and business owners across the impacted …
People Moves: LSM Hires Nelson, Ciraci and Prout to Boost Renewables Offering; BMS Promotes Wookey to Managing Director, Bermuda Product Line Development
Insurance Journal | July 30, 2025
People Moves: LSM Hires Nelson, Ciraci and Prout to Boost Renewables Offering; BMS Promotes Wookey to Managing Director, Bermuda Product Line Development
This edition of International People Moves details appointments at Liberty Specialty Markets and the broker BMS. A summary of these new hires follows here. Liberty Specialty Hires Nelson, Ciraci and Prout to Boost Renewables Offering Liberty Specialty Markets (LSM), part …
Two Georgia Men Denied Bond After Charged With Large Cache of Homemade Bombs
Insurance Journal | July 30, 2025
Two Georgia Men Denied Bond After Charged With Large Cache of Homemade Bombs
Two Georgia men, denied bond, are in jail awaiting court action after they were charged with possessing a large amount of homemade explosive devices. The Georgia Office of Insurance Commissioner and State Fire Marshal’s Office, along with the Floyd County …