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Melissa Jamaica Damage Seen Costing Insurers Up to $3 Billion
The wreckage caused by Hurricane Melissa in Jamaica is expected to cost insurers $1 billion to $3 billion, according to property intelligence company Cotality. The insured losses are a fraction of the total property damage, which Cotality estimates at $2 …
POSTED NOVEMBER 01, 2025 12:12 AM |
PHLY Makes Largest Acquisition in Its History With Collector Car Business Expansion
Philadelphia Insurance Companies announced the acquisition of the Collector Vehicle Division from Ignyte Insurance, a Carlyle backed portfolio company. The transaction, valued at $615 million, is the largest acquisition in the 63-year history of Philadelphia Insurance Companies. The deal includes …
POSTED OCTOBER 31, 2025 9:25 PM |
Detroit to Pay Nearly $6M in Death Connected to Bus Driver with Many Crashes
The city of Detroit has agreed to pay $5.85 million to settle a lawsuit over the death of a pedestrian who was struck by a city bus, the second fatality involving the same driver since 2015. Wayne County Judge Kathleen …
POSTED OCTOBER 31, 2025 4:41 PM |
People Moves: Texas State Office of Risk Management Names Hays as Executive Director
The Texas State Office of Risk Management Board of Directors announced Sara Hays as the newly appointed Executive Director. Hays joins the Office after many years of state service, including Chief of Staff for two state representatives and Budget and …
POSTED OCTOBER 31, 2025 4:32 PM |
North Dakota Judge Says Greenpeace Must Pay $345M in Pipeline Lawsuit
A North Dakota judge has ordered Greenpeace to pay damages of $345 million, reducing an earlier jury award after it found the environmental group and related entities liable for defamation and other claims in connection with protests of an oil …
POSTED OCTOBER 31, 2025 4:21 PM |
Wildfire Forces Rural Community in Southern Texas to Evacuate
Thick smoke blanketed a rural community in southern Texas and many residents were ordered to evacuate as firefighters worked to contain a blaze Wednesday evening, officials said. The Mill Fire in Gregory, Texas, about 150 miles (80.5 kilometers) southeast of …
POSTED OCTOBER 31, 2025 4:16 PM |
AM Best Keeps Credit Ratings of NASW Insurance Co. Under Review
AM Best has maintained the under review with negative implications status for the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of NASW Insurance Co. (NASWIC) headquartered in Washington, D.C. AM Best said …
POSTED OCTOBER 31, 2025 3:44 PM |
Aon’s Q3 Organic Growth of 7% Outperforms Expectations
Insurance broker Aon reported strong third quarter revenue of $4.0 billion, an increase of 7% from $3.7 billion reported for Q3 2024. Organic revenue rose 7% during Q3, which was level with last year’s third quarter, but beat Wall Street …
POSTED OCTOBER 31, 2025 3:31 PM |
Deal for Nuclear Reactors Raises Safety Concerns
A huge nuclear deal announced by the Trump administration earlier this week provides a multi-billion-dollar incentive for the U.S. government to issue permits and approvals for new Westinghouse reactors—an unprecedented structure that critics say poses environmental and safety risks. Under …
POSTED OCTOBER 31, 2025 2:31 PM |
North Carolina Public Adjuster Charged With Embezzling $130,000 Insurance Payment
North Carolina authorities on Thursday arrested a public adjuster, accusing him of absconding with a $133,000 payout from the insurance carrier following a contentious roof claim. Tyler Dionysius Englin, 26, of Garner, North Carolina, was charged with embezzlement after the …
POSTED OCTOBER 31, 2025 2:29 PM |
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