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Tag: insurance-journal

California Plans to Boost Utility Wildfire Fund by $18 Billion
Insurance Journal | September 10, 2025
California Plans to Boost Utility Wildfire Fund by $18 Billion
California lawmakers have reached an initial agreement to shore up the state’s wildfire utility fund. The agreement is expected be filed into legislative text on Wednesday after lawmakers suspended a Tuesday deadline, according to people familiar with the negotiations who …
Michigan Manufacturer to Pay $460K to Settle Sexual Harassment Lawsuit
Insurance Journal | September 10, 2025
Michigan Manufacturer to Pay $460K to Settle Sexual Harassment Lawsuit
East Jordan Plastics, Inc., a manufacturer of plastic horticultural containers, will pay $460,000 and provide other relief to settle a sexual harassment lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced today. According to the …
Texas to Ban Minors From THC Products
Insurance Journal | September 10, 2025
Texas to Ban Minors From THC Products
THC products will remain largely legal in Texas, but will be banned for minors and further regulated under a new executive order by Gov. Greg Abbott on Wednesday. Abbott directs the Texas Department of State Health Services and the Alcoholic …
SageSure and Affiliate to Acquire Olympus MGA and Olympus Insurance in Florida
Insurance Journal | September 10, 2025
SageSure and Affiliate to Acquire Olympus MGA and Olympus Insurance in Florida
In a three-way deal involving carriers, underwriters, holding companies and more, catastrophe-focused managing general underwriter SageSure announced it will acquire the managing general agent for Florida-based Olympus Insurance Co. At the same time, the parent company for SageSure’s carrier partners …
North Carolina Firefighters Shot, Burned in Separate Fire Calls
Insurance Journal | September 10, 2025
North Carolina Firefighters Shot, Burned in Separate Fire Calls
A North Carolina firefighter who was shot while answering a fire alarm call is recovering, while a suspect is in jail. The Associated Press and local media reported that the fireman was shot last week in Ellerbe. One fire truck …
Lincoln International Agrees to Buy Insurance Brokerage Advisory MarshBerry
Insurance Journal | September 10, 2025
Lincoln International Agrees to Buy Insurance Brokerage Advisory MarshBerry
Lincoln International, a global investment banking advisory firm, said it has a definitive agreement to acquire MarshBerry, an advisory firm serving the insurance brokerage, insurance distribution, and wealth management sectors for over 40 years. Lincoln said Woodmere, Ohio-based MarshBerry will …
US Senator Cruz Proposes AI ‘Sandbox’ to Ease Regulations on Tech Companies
Insurance Journal | September 10, 2025
US Senator Cruz Proposes AI ‘Sandbox’ to Ease Regulations on Tech Companies
Republican U.S. Senator Ted Cruz introduced a bill on Wednesday that would let artificial intelligence companies apply for exemptions to federal regulation to help them experiment in developing new technology. Cruz leads the Senate Commerce Committee, which held a subcommittee …
US Commercial Lines Prices Increase 3.8%, Falling From Up 6% in Previous Quarters
Insurance Journal | September 10, 2025
US Commercial Lines Prices Increase 3.8%, Falling From Up 6% in Previous Quarters
U.S. commercial insurance rates increased 3.8% in the second quarter of 2025, according to the latest WTW Commercial Lines Insurance Pricing Survey (CLIPS). WTW said the price increase has been very close to 6% over the past six quarters. Carriers …
Bankruptcy Judge Rules Church Insurers Lack Standing to Contest Abuse Claims
Insurance Journal | September 10, 2025
Bankruptcy Judge Rules Church Insurers Lack Standing to Contest Abuse Claims
Insurers that have not indicated they will pay claims from sexual abuse survivors currently have no standing to contest certain claims as they are being considered, a federal bankruptcy judge recently ruled in a case involving the Roman Catholic Diocese …
Amazon’s Zoox to Launch Robotaxi Rides to Public in Las Vegas
Insurance Journal | September 10, 2025
Amazon’s Zoox to Launch Robotaxi Rides to Public in Las Vegas
Amazon.com Inc.’s autonomous driving unit Zoox has started offering rides to the public in Las Vegas, marking a first in the U.S. for a purpose-built robotaxi with no driver controls. Starting Wednesday, Zoox will offer trips in and around the …