Today's Insurance News

Automatic updating insurance news with the latest trends and ideas in the insurance industry.

Texas is Close to Adopting Revised Oil and Gas Waste Rules
Posted on Friday September 13, 2024

Texas is inching closer to adopting revised oil and gas waste management rules for the first time in four decades. The Railroad Commission of Texas announced the draft rule at its Aug. 15 meeting and is now soliciting public comment. …

People Moves: JM Wilson Promotes Underwriters
Posted on Friday September 13, 2024

JM Wilson, headquartered in Portage, Michigan, promoted several team members in its home office. Kristin Bolhuis was promoted to property and casualty manager. She works with carrier underwriters and independent insurance agents in Michigan and Texas. She began her career …

Michigan State Documents Reveal No New Information on Nassar Abuse Scandal
Posted on Friday September 13, 2024

DETROIT (AP) — Thousands of documents turned over by Michigan State University reveal nothing new about what the school might have known about years of sexual abuse committed by Larry Nassar, the campus doctor who assaulted female athletes, the state …

Low Mississippi River Water Levels Force Barge Companies to Cut Cargo
Posted on Friday September 13, 2024

ST. LOUIS (AP) — The water level of the Mississippi River is unusually low for the third straight year, forcing barge companies to put limits on how much cargo they can carry and cutting into farm profits. It was just …

Cooler Weather Helping Fight Large Southern California Wildfire
Posted on Friday September 13, 2024

Cooler weather is aiding the fight against a large Southern California wildfire, one of three large fires in the region. The Bridge Fire exploded in size on Tuesday, forcing evacuations in the communities of Wrightwood and Pinion Hills. Authorities also …

Microsoft, Cyber Firms Pursue Changes After CrowdStrike Outage
Posted on Friday September 13, 2024

Microsoft Corp. said it’s building an alternative for cybersecurity companies that now utilize the deepest layer of its operating system after a flawed update from CrowdStrike Holdings Inc. triggered a global IT meltdown. The Redmond, Washington-based technology giant announced Thursday …

Delaware Insurance Commissioner Navarro Wins Primary Election
Posted on Friday September 13, 2024

Delaware Insurance Commissioner Trinidad Navarro won this week’s Democratic primary for the post, gaining more than 70% of the vote versus his rival, Kayode Abegunde. Navarro was first elected commissioner in 2016. He served for 20 years with the New …

Swiss Insurer Baloise Eyes Changes in Board of Directors, Chairman Says
Posted on Friday September 13, 2024

Swiss insurer Baloise is considering changes in its board of directors, Chairman Thomas von Planta said on Thursday after the company revealed plans to boost returns to shareholders. “We want to strengthen the insurance expertise on the board,” von Planta …

Burning Houthi-Hit Oil Tanker Set for Fresh Rescue Effort
Posted on Friday September 13, 2024

Specialist salvage teams are set to renew efforts to remove a blazing oil tanker that’s been stuck in the Red Sea for over three weeks after it was attacked by Houthi militants, the European Union naval force in the region …

Coastal Cities’ Growing Storm Vulnerability Fed by Climate Change and Growth
Posted on Friday September 13, 2024

Warm water in the Atlantic Ocean and Gulf of Mexico can fuel powerful hurricanes, but how destructive a storm becomes isn’t just about the climate and weather – it also depends on the people and property in harm’s way. In …

PwC’s China Unit Suspended for 6 Months, Hit With Record Fine for Evergrande Audit
Posted on Friday September 13, 2024

Chinese regulators on Friday hit PwC’s auditing unit in mainland China with a six-month business suspension and a record fine of 441 million yuan ($62 million) over the firm’s audit of troubled property developer China Evergrande Group. Delivering a strong …

Duffy Agency Acquires Neighboring Cowan Agency in Massachusetts
Posted on Friday September 13, 2024

Duffy Insurance Agency, based in Lynn, Massachusetts, has acquired The Cowan Insurance Agency of Haverhill, also in Essex County. The Cowan agency, founded in 1938, is a fourth generation family business now led by Stefanie (Cowan) Guillemette. The independent agency …

Carlyle’s Sedgwick Valued at $13.2 Billion in Investment Deal With Altas
Posted on Friday September 13, 2024

Carlyle-owned claims management company Sedgwick said on Thursday it had secured an investment from private equity firm Altas Partners via a deal that valued it at $13.2 billion. The valuation is much higher than the $6.7 billion Sedgwick was worth …

Tokio Marine Kiln Launches Specialty Reinsurance Division
Posted on Friday September 13, 2024

Tokio Marine Kiln (TMK), the international specialist insurer, announced the formation of a new Specialty Reinsurance division to support the company’s growth ambitions in the sector. The new division will be led by Phil Taylor who will be appointed head …

UK Retailer Tesco Loses Legal Battle Over ‘Fire and Rehire’ of Staff
Posted on Friday September 13, 2024

Tesco was not entitled to terminate some employees’ contracts and offer to rehire them on less favorable terms, the United Kingdom’s Supreme Court ruled on Thursday. Shopworkers’ union Usdaw took legal action against Britain’s biggest retailer after Tesco sought to …