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Tag: insurance-journal

Severe Storms Ravage South Texas, Leaving 3 Dead and Hundreds Stranded
Insurance Journal | March 31, 2025
Severe Storms Ravage South Texas, Leaving 3 Dead and Hundreds Stranded
Drenching rain along the Texas-Mexico border let up Friday, but rescues were still ongoing a day after severe storms trapped residents in their homes, forced drivers to abandon their vehicles on flooded roads and shut down an airport. Local officials …
Oracle Warns Health Customers of Patient Data Breach
Insurance Journal | March 30, 2025
Oracle Warns Health Customers of Patient Data Breach
Hackers broke into Oracle Corp.’s computer systems and stole patient data in an attempt to extort multiple medical providers in the US, according to a person familiar with the matter and a notification the software company sent to clients. Earlier …
State Farm Has Paid out $2.5 Billion for LA Wildfires
Insurance Journal | March 28, 2025
State Farm Has Paid out $2.5 Billion for LA Wildfires
State Farm has reported paying out $2.5 billion for the Los Angeles wildfires in January, more than double what the carrier reported paying out weeks earlier. “As of March 28, we’ve received more than 12,300 total claims related to the …
AM Best Removes Negative Implications, Expects Continued Profitability for Pie Insurance
Insurance Journal | March 28, 2025
AM Best Removes Negative Implications, Expects Continued Profitability for Pie Insurance
AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of The Pie Insurance Company (Columbus, OH) and its pooled affiliate, Pie …
MS&AD Insurance Group Announces Merger of 2 Non-Life Subsidiaries
Insurance Journal | March 28, 2025
MS&AD Insurance Group Announces Merger of 2 Non-Life Subsidiaries
MS&AD Insurance Group Holdings Inc. announced it will merge two of its non-life insurance company subsidiaries – Mitsui Sumitomo Insurance Co. Ltd. and Aioi Nissay Dowa Insurance Co. Ltd. This merger will establish a non-life insurance company that holds the …
Concerns Raised Over Contamination of Farm Fields with PFAS-laden Biosolids
Insurance Journal | March 28, 2025
Concerns Raised Over Contamination of Farm Fields with PFAS-laden Biosolids
What goes down your toilet can end up on farm fields across the United States. Biosolids, or sewage sludge, are the solid byproducts of the wastewater treatment process. Rich in nutrients, they can be used as fertilizer on agricultural fields …
CSB Releases Update Into Fatal Texas Hydrogen Sulfide Release
Insurance Journal | March 20, 2025
CSB Releases Update Into Fatal Texas Hydrogen Sulfide Release
The U.S. Chemical Safety and Hazard Investigation Board (CSB) released a second update on its ongoing investigation into the fatal hydrogen sulfide release that occurred on October 10, 2024, at the PEMEX Deer Park Refinery in Deer Park, Texas. Two …
Wall Street Brokers Start Trading Insurer Claims From LA Fires
Insurance Journal | March 20, 2025
Wall Street Brokers Start Trading Insurer Claims From LA Fires
Wall Street brokers have started selling insurers’ claims tied to Los Angeles’ deadly wildfires, which may trigger a payout from the utilities blamed for the destruction, according to people familiar with the matter. Investors are buying so-called subrogation claims, obtaining …
Tesla Recalls Most Cybertrucks Due to Trim Detaching From Vehicle
Insurance Journal | March 20, 2025
Tesla Recalls Most Cybertrucks Due to Trim Detaching From Vehicle
Tesla is recalling nearly all Cybertrucks in the United States to fix an exterior panel that could detach while driving, the company said on Thursday, the latest in a series of call-backs for the pickup truck. The recall covers just …
Delaware Corporate Law Reform Heads to Final Vote Amid Criticism It Favors Billionaires
Insurance Journal | March 20, 2025
Delaware Corporate Law Reform Heads to Final Vote Amid Criticism It Favors Billionaires
Delaware lawmakers are expected to vote as soon as next week to overhaul the state’s corporate law to protect its business-friendly reputation, but opponents have called the bill a giveaway to billionaires. The bill makes it hard for investors to …