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Category: Insurance Journal

Insurance Payouts at $4 Billion and Counting for LA Wildfires
Insurance Journal | January 30, 2025
Insurance Payouts at $4 Billion and Counting for LA Wildfires
Preliminary data show insurance companies have paid out more than $4 billion for losses from the biggest two of the Los Angeles-area wildfires that swept through the region and destroyed tens of thousands of homes earlier this month. This week …
FAA Issues Urgent Guidance for General Aviation Pilots During New Orleans Super Bowl
Insurance Journal | January 30, 2025
FAA Issues Urgent Guidance for General Aviation Pilots During New Orleans Super Bowl
The Federal Aviation Administration is issuing guidance to general aviation pilots flying near New Orleans from Feb. 6-11, 2025 to be aware of temporary flight restrictions, follow special air traffic procedures and comply with additional operational requirements that will be …
Insurtech Qumis Raises $2.2M to Automate Policy Reviews With AI
Insurance Journal | January 30, 2025
Insurtech Qumis Raises $2.2M to Automate Policy Reviews With AI
Qumis, a lawyer-built AI-driven platform designed to transform insurance knowledge work, announced the close of an oversubscribed $2.2 million pre-seed funding round. The round was led by Armory Square Ventures with participation from MTech Capital, Grand Ventures, Alumni Ventures, and …
Risk Strategies Acquires Michigan’s Comprehensive Benefits, Gabrielson Insurance
Insurance Journal | January 30, 2025
Risk Strategies Acquires Michigan’s Comprehensive Benefits, Gabrielson Insurance
Risk Strategies announced the acquisition of Comprehensive Benefits, Inc. and Gabrielson Insurance & Financial Services, both located in the Greater Detroit area. The joint acquisition preserves an established working relationship between the two partner companies, providing increased capabilities for the …
Musk’s DOGE Effort Spurs Copycat Push in Texas With New Bills
Insurance Journal | January 30, 2025
Musk’s DOGE Effort Spurs Copycat Push in Texas With New Bills
Texas Lieutenant Governor Dan Patrick wants to follow in the footsteps of Elon Musk. The state’s powerful Republican announced on Wednesday that one of the 40 bills he was prioritizing this legislative session is called “Texas DOGE – Improving Government …
Florida-Based Brown & Brown Reports Stronger Profits for 2024
Insurance Journal | January 30, 2025
Florida-Based Brown & Brown Reports Stronger Profits for 2024
DAYTONA BEACH, Fla. (AP) — Brown & Brown Inc. (BRO) on Monday reported fourth-quarter net income of $210 million, down from 2023’s Q4 results, but year-end results for 2024 were well above 2023’s numbers. On a per-share basis, the Daytona …
Marsh McLennan Reports Organic Growth of 7% During Q4 and Full-Year 2024
Insurance Journal | January 30, 2025
Marsh McLennan Reports Organic Growth of 7% During Q4 and Full-Year 2024
Marsh McLennan reported fourth quarter net income of $788 million, compared with $756 billion during Q4 2023. For the full-year 2024, MMC had net income of $4.1 billion, compared with $3.8 billion reported for FY 2023. Operating income for the …
OSHA Fines GE Appliance Maker Max Amount in Death of Alabama Worker
Insurance Journal | January 30, 2025
OSHA Fines GE Appliance Maker Max Amount in Death of Alabama Worker
Safety regulators fined a GE appliance manufacturer the maximum amount allowed by law in the 2024 death of an Alabama worker who was killed after the company ignored standard safety procedures, the U.S. Occupational Safety and Health Administration said this …
American Airlines Plane Collision Leaves No Hope for Survivors
Insurance Journal | January 30, 2025
American Airlines Plane Collision Leaves No Hope for Survivors
The collision between an American Airlines Group Inc. regional jet and a military helicopter near Ronald Reagan airport in Washington left no survivors on board the two aircraft, authorities said, making it one of the most deadly US air disasters …
Fortress Targets $1 Billion for Latest Litigation Finance Fund
Insurance Journal | January 30, 2025
Fortress Targets $1 Billion for Latest Litigation Finance Fund
Fortress Investment Group is seeking to raise about $1 billion for its latest fund in litigation finance, a sector in which it’s becoming a powerhouse, according to people familiar with the matter. The new fund, dubbed Fortress Legal Assets Fund …