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Tag: insurance-journal

Florida OIR Approves Smaller Average Rate Increases for Citizens This Year
Insurance Journal | February 10, 2025
Florida OIR Approves Smaller Average Rate Increases for Citizens This Year
Just as many Florida property insurers had hoped to see a boost to the private market with a maximum rate increase for Citizens Property Insurance Corp., state regulators have slashed the rate hike by more than half. After an unusually …
Viewpoint: How Will the California FAIR Plan Fare, and What’s Next for Independent Agents?
Insurance Journal | February 10, 2025
Viewpoint: How Will the California FAIR Plan Fare, and What’s Next for Independent Agents?
If there is a single bright spot to be found in the aftermath of the costliest wildfire in California’s history, it is that both the property/casualty insurance industry and the independent agents who serve as its personal point of contact …
Passengers Safely Evacuated When Fire Engulfs Train in Philadelphia
Insurance Journal | February 9, 2025
Passengers Safely Evacuated When Fire Engulfs Train in Philadelphia
Federal officials will investigate a commuter train fire in Philadelphia this week in which more than 300 passengers were safely evacuated. The National Transportation Safety Board announced Friday that it will look into the blaze, which was reported about 6 …
UMass Pays Out $10K After Tiff With Insurer Over Student’s Prize for Half-Court Shot
Insurance Journal | February 9, 2025
UMass Pays Out $10K After Tiff With Insurer Over Student’s Prize for Half-Court Shot
UMass said it would pay a student the $10,000 prize for a halftime promotion at a women’s basketball game after a dispute with an insurance company over whether he stepped over the line when he made a half-court shot. Noah …
AccuWeather: Elevated Risk of Mudslides at LA Wildfire Burn Scars From Coming Storm
Insurance Journal | February 7, 2025
AccuWeather: Elevated Risk of Mudslides at LA Wildfire Burn Scars From Coming Storm
Meteorologists are warning of an elevated risk of dangerous debris flows and destructive mudslides in Southern California next week in areas scorched by destructive Los Angeles wildfires. AccuWeather meteorologists expect between 2 inches and 4 inches of rain near the …
Crest Acquires Texas’ Horizon Insurance Services
Insurance Journal | February 7, 2025
Crest Acquires Texas’ Horizon Insurance Services
Crest Insurance announced the acquisition Horizon Insurance Services, a full-service insurance agency based in Houston, Texas. The move marks Crest’s 20th office nationwide and its second in the state of Texas. With the addition of the Houston office, Crest continues …
Inszone Acquires Texas Classic
Insurance Journal | January 31, 2025
Inszone Acquires Texas Classic
Inszone Insurance Services announced the acquisition of Texas Classic Insurance Agency, Inc. This transaction further strengthens Inszone’s foothold in Texas and enhances its capabilities in the personal lines insurance market. Founded in 1991, Texas Classic Insurance Agency has served clients …
Willis Takes Donnelly From Marsh to Head North America Risk & Broking
Insurance Journal | January 31, 2025
Willis Takes Donnelly From Marsh to Head North America Risk & Broking
Willis said it has hired veteran leader Pat Donnelly as head of risk & broking (R&B) in North America. Donnelly had been president, Marsh specialty and global placement – a position he held since the middle of 2023 when he …
Norfolk Southern Says Insurance to Cover At Least $750M of Ohio Derailment Costs
Insurance Journal | January 31, 2025
Norfolk Southern Says Insurance to Cover At Least $750M of Ohio Derailment Costs
Norfolk Southern’s solid fourth quarter — combined with the optimism the railroad is hearing from their customers and support they’re getting from Washington D.C. — has the CEO feeling optimistic about 2025. The railroad, based in Atlanta, earned $733 million, …
Tri-State Region Blood Center Hit With Ransomware Attack
Insurance Journal | January 31, 2025
Tri-State Region Blood Center Hit With Ransomware Attack
One of the country’s largest blood donor and research centers has suffered a ransomware attack. The New York Blood Center (NYBC) said that on Sunday, January 26, it identified “suspicious activity” affecting its IT systems. Third-party cybersecurity experts investigated and …