Oil prices fell on Monday after US President Donald Trump downplayed the likelihood of renewed strikes on Iran, though attacks on ships near the Strait of Hormuz kept supply concerns in focus. Brent crude LCOc1 dropped by 75 cents, or …

Households squeezed by high grocery and gas prices are facing another hit: rising costs for home repairs and upgrades. The cost of repairing or remodeling a home has risen steadily through October, with higher oil and energy prices, along with …

Berkshire Hathaway Inc. spent about $9.6 billion to buy back its own shares in the third quarter, a sign the company’s executives viewed the stock as undervalued. But declining insurance underwriting weighed on its operating earnings in a mixed quarter …

If your home isn’t in a federally designated flood zone, flooding might seem like someone else’s problem. No one requires you to buy flood insurance, and the map suggests you’re in the clear. But reality may be very different. Mounting …

Asphalt-roofing manufacturers have come out swinging against a new Insurance Institute for Business and Home Safety standard that limits the coveted “Fortified” designation to roofs younger than 15 years. The manufacturers’ response could lend new fuel to the debate over …

A fire barreled through a multifamily row house in New York early Thursday, killing six people and injuring nine others, including some firefighters and police officers, the city’s fire department said. More than 200 first responders descended on the two-story …

The Los Angeles and Long Beach seaports employer group and the International Longshore and Warehouse Union Local 26 extended their bargaining deadline through November 20, averting a potential strike by about 2% of workers at the busiest US container port …

Insurance Journal’s Risky Future series is hosting the winter edition of “AI Tools for MGAs” Winter Edition Demo Day, a series of free AI tool demonstrations designed exclusively for managing general agencies, wholesalers, program administrators, and specialty carriers. In partnership …

Maine independent agency J. Edward Knight Insurance has agreed to acquire the property/casualty book of business from another Maine agency, Atlantic Insurance & Benefits. The change will officially go into effect on January 1, 2027. Terms were not disclosed. According …

Jane Kim claimed victory over fellow Democrat Ben Allen on Friday in the race for California insurance commissioner. Kim was up by more than 400,000 votes as of Friday afternoon. As of the morning of Nov. 4, 99.8% of precincts …

Data center opposition had been building across the country, one moratorium or blocked project at a time. Then, virtually overnight, the midterm election tilted a broad swath of the regulatory map against the AI buildout. Newly elected governors in Ohio, …

AM Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “a” (Excellent) from “a-” (Excellent) of Illinois Casualty Company (ICC) and Lebanon Valley Insurance Company (LV). …

Insurance agents in north Georgia are reporting widespread damage after record flooding hit the area Thursday, Nov. 5. “It’s devastating. I have cried and prayed and cried and prayed,” said an agent who answered the phone at Appalachian Insurance Services …

Blackstone Inc. has set up a Lloyd’s of London syndicate with broker Aon Plc, as the world’s largest alternative asset manager muscles further into the insurance sector. Called Cortina, the syndicate will provide capital to back reinsurance contracts, according to …

Thousands of homes and businesses north of Los Angeles face the risk of potential power cuts over the next two days as weak to moderate Santa Ana winds bring dangerous fire weather conditions. Southern California Edison is considering shutting off …

Lt. Gov. Dan Patrick has led a crusade against THC products over the past few years, eventually leading to state officials banning several hemp-derived cannabis products, including popular items like smokeable vapes and joints. “I’m not going to legalize marijuana …

AM Best has revised the outlook to positive from stable of Excess Reinsurance Underwriters Inc. in Woodbury, New Jersey. Excess Re is a managing general underwriter specializing in medical stop loss insurance for a variety of entities across 50 states. …

A gunman plowed a car into a courtyard on Citibank’s sprawling Tampa business campus on Wednesday and opened fire with a rifle, killing a woman before a security guard fatally shot him, authorities said. The Hillsborough County Sheriff’s Office did …

MEMIC Promotes Delcourt to Regional Vice President The MEMIC Group, headquartered in Portland, Maine, promoted Ben Delcourt to regional vice president, underwriting. He will lead MEMIC’s Maine underwriting team and collaborate with the company’s independent agency partners across the state. …

Florida’s newly approved property-tax cut is designed to make homes more affordable. But it could also push up another punishing cost of homeownership: insurance. Homes in the Sunshine State are already among the most costly to insure in the US …