Insurance Journal

The regulation of property/casualty insurance in California has been an epic failure—look no further than the state of the market for personal automobile and homeowners insurance. California Insurance Commissioner Ricardo Lara’s automobile insurance rate moratorium and refusal to process rate …... Read more

London-based Arch Insurance International has authorized cryptocurrency insurer Evertas to increase the coverage limit for a single policy to $420 million for custodians or exchanges in what the U.S firm said is the highest in the industry. The move is …... Read more

Alliant Insurance Services Names Matt McGrath as Vice President, Americas Division Matt McGrath has joined Alliant Insurance Services’ Alliant Americas division as vice president. Based in Chicago, McGrath will focus on designing, implementing, and managing comprehensive risk and insurance solutions …... Read more

During this year’s legislative session, Texas lawmakers allocated part of the state’s historic $32.7 billion surplus toward better protecting the state against droughts and floods — an investment that followed one of the hottest summers on record and the worst …... Read more

Volante Global, a multi-class, multi-territory international MGA and Lloyd’s syndicate, has launched Volante Singapore, according to Asta, the Lloyd’s third-party managing agent. “The launch of Volante Singapore is an early milestone in our own expansion into Asia. The region represents …... Read more

Stephens Insurance Adds Bettina to Houston Team as P&C SVP Stephens Insurance, LLC, an affiliate of Stephens Inc., has hired Chris Bettina as a senior vice president within the property and casualty practice. Bettina brings nearly 15 years of experience …... Read more

The maritime sector experienced fewer total losses of vessels in 2022 while the number of shipping incidents remained relatively consistent, according to a recent report. Allianz Global Corporate & Specialty (AGCS) published its Safety and Shipping Review 2023, an annual …... Read more

Renault could face prosecution in France over faulty engines as a group of customers plans to lodge a criminal complaint against the carmaker next week, the group’s lawyer said on Friday. “We are going to file a complaint on Monday …... Read more

A recent report by the Medical Professional Liability Association shows the medical professional liability insurance sector’s combined ratio improved from 108.1% in 2021 to 102.2% in 2022 – marking the industry’s best performance since 2017. However, the industry still has …... Read more

Arthur J. Gallagher & Co. has acquired Nashville-based Bernard Benefits, an employee benefits brokerage serving clients in Tennessee, Indiana and Texas. Bernard, which focuses on small businesses, is a subsidiary of Bernard Health. Bernard’s Brian Tolbert, Matt Kleymeyer and the …... Read more

The U.S. government is turning up the pressure on Tennessee-based ARC Automotive to recall 67 million potentially dangerous air bag inflators by ordering the company to answer questions under oath and threatening fines if it doesn’t respond. NHTSA argues that …... Read more

Thirteen coal companies owned by the family of West Virginia Gov. Jim Justice are being sued over unpaid penalties for previous mining law violations that the federal government says pose health and safety risks or threaten environmental harm. Justice, who …... Read more

3M Co., DuPont de Nemours Inc. and other makers of per-and polyfluoroalkyl substances, or PFAS, have agreed to pay more than $100 million to resolve a Georgia city’s lawsuit claiming the chemicals polluted its drinking water, according to a person …... Read more

Chemical makers Chemours Co., DuPont de Nemours Inc., and Corteva Inc. said on Friday they would set up a $1.19 billion fund to settle PFAS-related drinking water claims in the United States. The companies are facing several lawsuits in the …... Read more

SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, announced the appointment of Bronek Masojada as chair of the company’s Board of Directors, effective immediately. Masojada, who joined the board on May 2 this year, is an insurance market veteran with …... Read more