Insurance Journal

As another wildfire season looms, insurance companies have abandoned some California neighborhoods at lower risk of burning, forcing tens of thousands of homeowners to obtain bare-bones coverage from the state’s insurer of last resort. California intended the insurer, called the …... Read more

Farmers Insurance alleges in a lawsuit that a former agent in Oklahoma conspired to move Farmers’ insureds to other insurance companies, including an agency where his wife works. Farmers alleges that Bradley McKinney broke his Agent Appointment Agreement with Farmers …... Read more

The city of St. Petersburg, Florida, in 2024 famously lowered its insurance coverage on Tropicana Field, the longtime home of the Tampa Bay Rays baseball team. The move saved the city some $275,000 in annual premium but slashed coverage limits …... Read more

TMK Appoints Glover From AIG as Aviation Underwriter Specialty insurer Tokio Marine Kiln (TMK) announced it has appointed Cameron Glover as an underwriter within its Aviation department. He takes up his new role within the expanding Aerospace division writing airport …... Read more

The Trump administration’s $20 billion maritime reinsurance program, which aims to cover hull & machinery, as well as cargo, is designed to get ships moving through the Strait of Hormuz. But, according to Moody’s Ratings, without coverage of liability risk, …... Read more

Encyclopedia Britannica and its Merriam-Webster subsidiary have sued OpenAI in Manhattan federal court for allegedly misusing their reference materials to train its artificial intelligence models. Britannica said in the complaint filed on Friday that Microsoft-backed OpenAI used its online articles …... Read more

A Florida judge has given another win to Citizens Property Insurance Corp., finding that the state-created insurer’s arbitration endorsement is constitutional and enforceable. “Final judgment is granted in favor of Citizens and against the plaintiff as to this declaration that …... Read more

US data center development has slowed because the power grid is reaching its limit to accommodate more large facilities, according to research from energy consultancy Wood Mackenzie. Developers added data centers that would consume about 25 gigawatts of electricity to …... Read more

A man was charged week with selling a stolen gun to Mohamed Bailor Jalloh, a former member of the Army National Guard who used it to kill one person and wound two others at Old Dominion University, federal authorities said. …... Read more

In a three-way deal, TPG, an asset management firm, has launched an insurance brokerage with offices in South Carolina. That brokerage, Third Wave Insurance, has acquired Palmer & Cay, an insurance and employee benefits brokerage in Atlanta. Palmer & Cay, …... Read more

Starbucks may be neglecting the financial and reputational risks that stem from labor disputes, two proxy advisory firms are warning shareholders. The warnings come more than a year after contract talks between the company and its U.S. union, formed by …... Read more

McGill and Partners and American International Group said they collaborating to perhaps disrupt the subscription market—using agentic artificial intelligence to deploy capital to clients. AIG said the digital-first platform of the London-based independent broker allowed the insurer to conduct a …... Read more

The disruption to energy markets caused by the Iran war is a lesson on the risks of relying on fossil fuels which should drive governments to wean their economies off oil and gas faster, the U.N. climate secretary told Reuters …... Read more

SiriusPoint Ltd., the Bermuda-based specialty underwriter, announced changes to its business structure as part of the next phase of the company’s evolution. SiriusPoint will now operate through four business areas, including three globally focused P&Ls: Global P&C Programs, Global Reinsurance, …... Read more

In the town of Le Bourget outside Paris, Sofiane Milous, a candidate in France’s municipal elections, is vowing to reverse plans for a data center he says will intensify heat islands, worsen noise pollution and create few local jobs. The …... Read more