News Archives - Insurance Journal

W.R. Berkley Forms Professional Lines Unit, Berkley Edge; Names Secor as President

Tue, 19 Aug 2025 15:25:00 GMT

W.R. Berkley Corp. announced the formation of Berkley Edge, a new business providing professional liability and casualty insurance for small to mid-sized businesses. Berkley Edge will focus on hard-to-place and distressed risks, offering coverage exclusively through wholesale brokers. “We are …

Europe’s Wildfires Have Burned the Most Land in Nearly 20 Years

Tue, 19 Aug 2025 15:18:00 GMT

Four major heat waves, dry conditions and strong winds have turned Europe into a tinderbox this summer, fueling the most destructive wildfire season in nearly two decades. Blazes have scorched about 8,948 square kilometers (3,455 square miles) across the European …

Geraci Takes Helm at FSLA, McCleary Named SVP at Alliant

Tue, 19 Aug 2025 15:06:00 GMT

Albert Geraci, area president of wholesale broker Risk Placement Services, has taken the helm as president of the Florida Surplus Lines Association. He replaces Virginia Clancy, who was in the role for 2024-2025. “This year, we will continue to focus …

Another Carrier, Vision Insurance Exchange, Sets Up Shop in Florida

Tue, 19 Aug 2025 14:43:00 GMT

Regulators have approved another new property insurer for the Florida market – Vision Insurance Exchange – led by former Florida Peninsula Insurance CEO Roger Desjadon. The Cape Coral-based Vision is the 15th property-casualty firm to set up shop in Florida …

Markets/Coverages: Ryan Expands E&O Program for Small, Medium Insurance Agents

Tue, 19 Aug 2025 13:54:00 GMT

Managing general underwriter Ryan Financial Lines has expanded its national Insurance Agents & Brokers E&O Program, now oﬀering an admitted product that is available to retail agents in most states. The enhanced program is tailored for property/casualty, personal lines, and …

New York Marijuana Shops Sue State Over Mistaken Openings Too Close to Schools

Tue, 19 Aug 2025 12:50:00 GMT

A group of marijuana dispensaries in New York sued the state on Friday after cannabis regulators admitted they accidentally allowed pot shops to open too close to schools, putting the future of the businesses in jeopardy. The lawsuit asks a …

CVS Not Covered by Insurance for Opioid Lawsuits, Delaware Supreme Court Rules

Tue, 19 Aug 2025 11:52:00 GMT

CVS Health is not entitled to coverage from insurers, including AIG and Chubb, against thousands of lawsuits over its role in the nation’s opioid crisis, Delaware’s highest court ruled on Monday. The Delaware Supreme Court concluded that governments, hospitals, doctors …

Qantas Airways Fined $59M for Illegal Pandemic Layoffs

Tue, 19 Aug 2025 11:42:00 GMT

A judge on Monday fined Qantas Airways 90 million Australian dollars ($59 million) for illegally firing more than 1,800 ground staff at the start of the COVID-19 pandemic. The penalty is in addition to the A$120 million ($78 million) in …

Markel Insurance Completes Sale of Reinsurance Renewal Rights to Nationwide

Tue, 19 Aug 2025 11:30:00 GMT

Global specialty insurer Markel Insurance reported that it has completed the sale of the renewal rights for its $1.2 billion global reinsurance business to Nationwide. This transaction was previously announced on July 30 and is part of what Markel cites …

Markets/Coverages: Inigo Provides Excess DIC/DIL Cover on Financial Fraud Policies

Tue, 19 Aug 2025 10:52:00 GMT

Inigo Ltd., the Lloyd’s specialty insurer, has launched a product that provides top-up cover on financial fraud policies. The product, called Inigo Crime Excess, is an excess DIC/DIL (difference in conditions and difference in limits) policy designed to sit excess …

Mumbai Drenched by More Rain as Highest Alert Issued for City

Tue, 19 Aug 2025 09:38:00 GMT

Mumbai is facing more heavy rain after a deluge that’s delayed flights, disrupted train services and closed schools, with India’s weather agency issuing its highest warning for the financial hub. Intense rain spells and wind gusts as high as 65 …

North Carolina Man Charged With More Than $1M in Travel Insurance Fraud

Tue, 19 Aug 2025 05:01:00 GMT

Investigators with the North Carolina Department of Insurance last week charged a man with swindling almost $1 million and attempting to gain another $887,500 from travel insurance companies from 2020 to 2024. Michael Gerard Renna, 50, of Clayton, near Raleigh, …

Coastal Communities Restoring Natural Defenses Against Storm Surges, Rising Seas

Tue, 19 Aug 2025 05:00:00 GMT

In San Francisco Bay, salt ponds created more than a century ago are reverting to marshland. Along the New York and New Jersey coasts, beaches ravaged by Superstorm Sandy underwent extensive restoration. In Alabama, a rebuilt spit of land is …

Insurance Agent Earned Town’s Trust. But Officials Say He Ran a $95M Ponzi Scheme.

Tue, 19 Aug 2025 05:00:00 GMT

For decades, Miles “Burt” Marshall was the man you went to see in a stretch of upstate New York if you had some money to invest but wanted to keep it local. Working from an office in the charming village …

$3.75M to Estate of Unarmed Man Fatally Shot by Oregon Police

Tue, 19 Aug 2025 05:00:00 GMT

The city of Portland, Oregon, is set to pay $3.75 million to the estate of an unarmed man who was shot and killed by police in 2022 after being mistaken for an armed robbery suspect. The city settled with Immanueal …

Judge Strikes Down Trump Guidance Against DEI at Schools and Colleges

Tue, 19 Aug 2025 05:00:00 GMT

A federal judge last Thursday struck down two Trump administration actions aimed at eliminating diversity, equity and inclusion programs at the nation’s schools and universities. In her ruling, U.S. District Judge Stephanie Gallagher in Maryland found that the Education Department …

Studies Tie Unrecognized Deaths, Health Problems to Hawaii And LA Wildfires

Tue, 19 Aug 2025 05:00:00 GMT

The toll of wildfires is usually counted in acres burnt, property destroyed and lives lost to smoke and flames. But three new studies suggest the cost to human health from the Maui and Los Angeles wildfires was substantially higher. Two …

Newsmax Settles Dominion Defamation Case for $67M; Says It Couldn’t Get Fair Trial

Tue, 19 Aug 2025 05:00:00 GMT

Newsmax Media has agreed to pay $67 million to Dominion Voting Systems to settle a $1.6 billion defamation lawsuit over false claims that the voting machine company rigged the 2020 election against U.S. President Donald Trump, it said on Monday. …

Rockford Mutual Launches Commercial Insurance Offerings in Michigan

Mon, 18 Aug 2025 16:53:00 GMT

Rockford Mutual announced the official launch of their suite of commercial insurance products in the state of Michigan, effective August 18, 2025 This strategic expansion includes Businessowners Policies (BOP), Commercial Package Policies (CPP), and Commercial Umbrella coverage, designed to meet …

Swiss Re Tops List of Largest Reinsurers on Its Shift to IFRS-17 Accounting: AM Best

Mon, 18 Aug 2025 16:36:00 GMT

Swiss Re tops the list of the world’s 50 largest reinsurers as a result of its adoption of the IFRS-17 accounting standards, which also led to a shuffle among the top-tier reinsurers, according to AM Best. Swiss Re had previously …

Temporary Barriers Spared Alaska’s Capital From Severe Flooding, Long-Term Fix Elusive

Mon, 18 Aug 2025 16:08:00 GMT

The glacial flooding that sent residents of Alaska’s capital city scrambling this week has become an annual ordeal for those who live along the picturesque river that winds from the nearby Mendenhall Glacier. This year, a giant wall of reinforced …

Arthur J. Gallagher Completes $13.5 Billion Acquisition of AssuredPartners

Mon, 18 Aug 2025 16:04:00 GMT

Arthur J. Gallagher & Co. announced it has closed the previously announced acquisition of U.S. insurance broker AssuredPartners, further expanding its retail middle-market property/casualty and employee benefits focus across the U.S. Gallagher announced in December that it had agreed to …

US Plans $750M Fly Factory in Texas to Stop a Flesh-Eating Cattle Parasite

Mon, 18 Aug 2025 15:49:00 GMT

The U.S. plans to build a $750 million factory in southern Texas to breed billions of sterile flies, ramping up its efforts to keep flesh-eating maggots in Mexico from crossing the border and damaging the American cattle industry. Secretary Brooke …

Six Killed in Michigan Collision Between Truck and Van Carrying Amish Group

Mon, 18 Aug 2025 15:47:00 GMT

A pickup truck went through a stop sign in rural Michigan and crashed into a van carrying members of an Amish community, killing at least six people, authorities said. The crash occurred last Tuesday afternoon in Tuscola County’s Gilford Township, …

Michigan Man Wins $60M in False Charges Case

Mon, 18 Aug 2025 15:40:00 GMT

A jury awarded nearly $60 million last week to a man who accused a disgraced Michigan prosecutor and a police officer of violating his rights in filing sexual abuse charges in a case that was ultimately dismissed by the state …

Bayer Settles Sky Valley Cases Over Chemical PCB

Mon, 18 Aug 2025 15:11:00 GMT

Bayer said on Monday it reached agreements in principle with more than 200 plaintiffs to resolve the so-called Sky Valley Education Center product liability cases related to the chemical PCB, but said payments were already reflected in recent financial reporting. …

Markets/Coverages: Vortex Pays Out After a Mere ‘Trace’ of Rain

Mon, 18 Aug 2025 14:40:00 GMT

Vortex Weather Insurance has introduced RainSure, the latest addition in its line of parametric rain insurance products. RainSure differs from Vortex’s existing parametric rain insurance products by offering incremental payouts for every .01 inch of rain up to a .25-inch, …

People Moves: Insurance Women Chapter Forms in Western Massachusetts

Mon, 18 Aug 2025 14:16:00 GMT

Pioneer Valley Launches MAIW Chapter Insurance industry professionals have established a new chapter of the Massachusetts Association of Insurance Women (MAIW) in the Pioneer Valley region in western Massachusetts. The 2025-2026 MAIW – Pioneer Valley Chapter board members include: Director: …

Georgia Commissioner to Fine 22 Health Insurers $20M for Lack of Mental Health Parity

Mon, 18 Aug 2025 13:31:00 GMT

Georgia’s insurance commissioner announced plans to fine 22 health insurers a total of $20 million for failing to cover mental health treatments as required by law, but he did not name the insurance companies in the announcement. “…Our initial examinations …

Maersk Contains Fire Onboard Vessel off Liberia, Intensifies Firefighting Efforts

Mon, 18 Aug 2025 13:25:00 GMT

Danish shipping company Maersk said on Monday that a fire that broke out onboard the vessel Marie Maersk off Liberia on Wednesday last week had stopped spreading, and that firefighting efforts would be intensified further. “Over the weekend, the crew’s …

First, Love Yourself

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