AIG Q1 Underwriting Income More Than Halved on Wildfire Losses
First quarter underwriting income in AIG’s General Insurance segment dropped 59% compared to last year, to $243 million. The unit—North America commercial, International commercial, and global personal—recorded $525 million in catastrophe-related charges in Q1 2025, compared to $106 million for …
California’s Ban on Gasoline Cars Is Overturned by US House Vote
Republicans moved a step closer Thursday to repealing a federal waiver allowing California to ban gasoline-powered cars by 2035, a policy that had drawn opposition from automakers, fuel producers and President Donald Trump himself. The U.S. House voted 246-164 to …
Trump Administration Sues Michigan to Halt State’s Fossil Fuel Lawsuit Plan
The Trump administration sued Michigan and Hawaii seeking to block the states from suing oil companies for damage caused by climate change, less than two months after the US Supreme Court rebuffed a Republican bid to derail such legal efforts. …
Ohio Eatery to Pay $125K Over Race Discrimination Lawsuit
Bennett Enterprises Inc., doing business as Ralphie’s Sports Eatery Company, will pay $125,000 and provide other relief to settle a race, disability and retaliation discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. According …
Fired State Employees Breached the Personal Data of 33K More Texans
Texas Health and Human Services Commission late Wednesday began notifying another 33,529 recipients of state benefits that their private information had been improperly accessed. The latest announcement comes as the state agency continues to investigate a series of breaches by …
Why the Green Hydrogen Industry Is Flocking to Texas
Despite federal policy uncertainty stunting growth prospects, US clean hydrogen industry leaders at the BloombergNEF summit see one bright spot: Texas. President Donald Trump’s tariffs are impacting the industry as are the murky fate of federal tax credits and the …
Southern Specialty Rebrands, Names Roberts President
Southern Specialty Underwriters, with offices in Tampa and in Macon, Georgia, said it has rebranded to Arbour Specialty, an insurance broker in the Southeast. The company also named Rebecca Roberts as its new president. Roberts has 30 years in the …
Judge Says Local Police Must Halt Enforcement of Florida Immigration Law
MIAMI (AP) — A federal judge told attorneys for the state of Florida on Tuesday that an order freezing the enforcement of a new state immigration law absolutely applies to all of the state’s local law enforcement agencies, despite a …
Florida Set to Be 2nd State to Ban Fluoride from Public Water Systems
TALLAHASSEE, Fla. (AP) — Florida is poised to become the second state to ban fluoride in public drinking water, overriding the concerns of dentists and public health advocates who say the mineral is a safe, effective way to protect people …
People Moves: SmartChoice Chooses Caldwell as CEO; Griffin Promoted to Zurich US Head of Multinational Underwriting; Burns & Wilcox Names New York, Chicago Leaders
SmartChoice Names Caldwell CEO Smart Choice, headquartered in Greensboro, North Carolina, restructured its executive leadership, naming Andrew Caldwell as CEO, while founder Doug Witcher has transitioned to the chairman of the board role. For the past decade, Caldwell has served …
The Hanover Reports 11% Growth in Q1 Net Income
First quarter net income for The Hanover Group grew to $128.2 million compared to $115.5 million during the same period a year ago. The Worcester, Massachusetts-based insurer’s Q1 combined ratio was 94.1, and improvement over 95.5 a year ago during …
Attorney Fee Amendment Shot Down by Florida Senate; Condo Relief Bill Passes
Florida’s Senate late Wednesday refused to go along with a prevailing-party attorney-fee amendment to a phosphate mine bill, likely leaving it dead for 2025 as the legislative session nears the end. The amendment to Senate Bill 832, approved by the …
Markets/Coverages: Coalition Launches Cyber Insurance for Businesses in Nordic Region
Coalition, the San Francisco-based cyber managing general agent and cybersecurity firm, announced the launch of its Active Cyber Insurance product in the Nordic region. Coalition’s offerings are available in Denmark as of May 1, 2025, and will become available in …
LA Fire Investigation Will Take a Year or More, Edison CEO Says
The probe into the deadly Southern California Eaton fire is likely to take a year or more as authorities examine Edison International’s utility equipment as the possible cause, according to the company’s chief executive officer. Edison, meanwhile, is conducting its …
Business Moves: CRC Group Acquires ARC in E&S Deal
Independent insurance wholesaler CRC Group said it has acquired specialty wholesale distributor ARC Excess & Surplus. Terms were not disclosed. ARC was founded in 1986 by Chris Cavallaro as a boutique management and professional liability wholesale broker, and then later …
Arthur J. Gallagher & Co. Acquires New Zealand’s First Capital Financial Services
Arthur J. Gallagher & Co. announced the acquisition of New Zealand-based First Capital Financial Services and its affiliate First Capital Wealth Management. Terms of the transaction were not disclosed. First Capital is a financial advisory firm providing wealth management, risk …
Severe Storms Take 4 Lives, Cause Power Outages, Close Roads in Pennsylvania
Officials and first responders in Pennsylvanians are assessing and cleaning up the damage caused after severe storms swept across western and central parts of the state Tuesday.. Officials reported four deaths linked to the severe weather. The National Weather Service …
Scientists Tally Oil Majors’ Climate Damage With Eye to Legal Liability
Over the last decade, scientists have rapidly developed the field of climate attribution research, teasing out the role played by global warming in individual natural disasters. Meanwhile, their ways of tracking a single emitter’s influence on temperature or sea-level rise …
Court Questions NJ Diocese’s Bid to Block Grand Jury on Clergy Sex Abuse
Members of New Jersey’s Supreme Court sounded skeptical at times Monday about the effort of a Catholic diocese to stop the state from empaneling a grand jury to investigate clergy sexual abuse allegations. The high court is considering the state …
Chinese Hacking Competitions Fuel the Country’s Broad Cyber Ambitions
Dustin Childs can still describe the best demonstration of a winning hack at an international tournament he’s ever seen. It happened almost a decade ago. The participants had to find a way to break into a Windows workstation that was …