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Tag: insurance-journal

Hong Kong’s Deadliest Fire in Decades Followed a Year of Safety Complaints
Insurance Journal | December 1, 2025
Hong Kong’s Deadliest Fire in Decades Followed a Year of Safety Complaints
Residents of the housing complex that was engulfed in Hong Kong’s deadliest blaze in seven decades were told by authorities last year that they faced “relatively low fire risks” after complaining repeatedly about fire hazards posed by ongoing renovation works, …
PE Firms EQT, CVC Drop $3.44B Pursuit of Australian Broker AUB Group; Shares Drop
Insurance Journal | December 1, 2025
PE Firms EQT, CVC Drop $3.44B Pursuit of Australian Broker AUB Group; Shares Drop
Australia’s AUB Group said on Monday its suitors EQT and CVC Asia Pacific had abandoned their pursuit that valued the insurance broker at A$5.25 billion ($3.44 billion), sending its shares more than 17% lower. Shares of the Sydney-based firm plunged …
US E&S Outlook No Longer Positive: AM Best
Insurance Journal | December 1, 2025
US E&S Outlook No Longer Positive: AM Best
AM Best is revised its market segment outlook on the U.S. excess and surplus lines segment to stable from positive, the rating agency announced in mid-November. The change comes as rates soften and premium growth moderates. “Although favorable market conditions …
Lawsuit Over Burger King’s Whopper Ads Set Back by Federal Judge
Insurance Journal | December 1, 2025
Lawsuit Over Burger King’s Whopper Ads Set Back by Federal Judge
A federal judge dealt a setback to customers suing Burger King over advertising for its Whopper sandwiches, saying their claims were too disparate to justify certifying a nationwide class action. The lawsuit by 19 customers in 13 U.S. states accused …
Deadly Bear Attacks in Japan Prompt New Products From Insurers
Insurance Journal | December 1, 2025
Deadly Bear Attacks in Japan Prompt New Products From Insurers
Hardly a day goes by in Japan without news of another bear attack, but a problem that’s worrying local residents, tourists and farmers and hampering leisure-related businesses is presenting an opportunity for insurers. Tokio Marine & Nichido Fire Insurance Co. …
Why Reciprocal Insurance Exchanges Are Back in Fashion
Insurance Journal | December 1, 2025
Why Reciprocal Insurance Exchanges Are Back in Fashion
Reciprocal insurance exchanges have been increasingly popular in recent years, with third-party investor interest in the fee-for-service businesses that manage RIEs and waning property insurance capacity in catastrophe-prone regions supporting the resurgence. Third-party investors “are not exposed to the insurers’ …
CME Data Center Bolsters Backup Cooling After 10-Hour Outage
Insurance Journal | December 1, 2025
CME Data Center Bolsters Backup Cooling After 10-Hour Outage
The data center that supports CME Group Inc., one of the world’s largest derivatives exchanges, said it has bolstered its backup cooling capacity after overheating sparked a catastrophic 10-hour outage that roiled world markets on Friday. CyrusOne — which owns …
Texas Adds ID Restrictions on Vehicle Registrations, Renewals
Insurance Journal | December 1, 2025
Texas Adds ID Restrictions on Vehicle Registrations, Renewals
The Texas Department of Motor Vehicles is implementing more stringent photo identification requirements for all vehicle registrations and renewals in an abrupt shift that could shut out undocumented residents from legally owning vehicles. Current photo identification, such as a state …
Taiping Insurance Shares Hit by Over $200 Million Exposure to Hong Kong Fire
Insurance Journal | November 28, 2025
Taiping Insurance Shares Hit by Over $200 Million Exposure to Hong Kong Fire
Shares of China Taiping Insurance Holdings fell as much as 8% on Thursday [Nov. 27] on concerns about its coverage exposure of more than $200 million to a Hong Kong apartment complex where a huge fire killed at least 55 …
Illinois Roofing Company Sued for Race and Sex Harassment
Insurance Journal | November 26, 2025
Illinois Roofing Company Sued for Race and Sex Harassment
Anthony Roofing Tecta America LLC and Tecta America Corporation, roofing services providers in Illinois and nationwide, violated federal law when they subjected African American and female employees of their Aurora, Illinois location to race and sex harassment, the U.S. Equal …