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News Archives - Insurance Journal
LA County Approves $4B Payout to Settle Sexual Abuse Claims at Juvenile Facilities
Los Angeles County officials this week approved a $4 billion payout to settle nearly 7,000 claims of sexual abuse in juvenile facilities since 1959. The agreement reached on April 4 far surpasses a $2.6 billion settlement reached in 2022 with …
POSTED APRIL 30, 2025 9:29 PM |
Bill to Address California Wildfire And Insurance Crises Moving Through Legislature
A California Assembly committee advanced a bill designed to deal with the state’s wildfire and insurance crises. The California Safe Homes Act, Assembly Bill 888, passed out of the Assembly Insurance Committee on a unanimous vote. Related: Forecast Calls for …
POSTED APRIL 30, 2025 8:41 PM |
Strengthen Oklahoma Homes Program to Hold Second Pilot Launch
The Oklahoma Insurance Department is preparing for a second pilot launch of the Strengthen Oklahoma Homes Program, which provides up to $10,000 to residents to upgrade their homes to the IBHS Fortified standard. Applicants who are eligible and live in …
POSTED APRIL 30, 2025 4:49 PM |
AM Best Revises Outlook to Negative for Missouri Valley Mutual Insurance Company
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Missouri Valley Mutual Insurance Company (MVMIC) based in Burke, South Dakota. …
POSTED APRIL 30, 2025 4:24 PM |
People Moves: SiriusPoint Taps AIG’s Gibson as International Chief Underwriting Officer; Howden Appoints McLaughlin From Chaucer to Lead Howden Re Miami
This edition of International People Moves details appointments at SiriusPoint and Howden. A summary of these new hires follows here. SiriusPoint Taps AIG’s Gibson as International Chief Underwriting Officer SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, announced the appointment …
POSTED APRIL 30, 2025 4:23 PM |
Car Smashes Through Illinois Building, Killing 4 Young People and Injuring Others
A car smashed through a building Monday afternoon, killing four young people and injuring several others during an after-school program in a small city outside of Springfield, Illinois, police said. Officers responded at about 3:20 p.m. to calls about a …
POSTED APRIL 30, 2025 4:16 PM |
People Moves: Dorn Named to Maryland Insurance Administration Post
Maryland Insurance Commissioner Marie Grant appointed Patricia Dorn as associate commissioner for consumer education and advocacy at the Maryland Insurance Administration. Dorn, who has served at the Maryland Insurance Administration since 2012, will lead the Consumer Education and Advocacy Unit …
POSTED APRIL 30, 2025 3:54 PM |
With Wildfire Suits Looming, Edison Beats Estimates on Lower Expenses, Rate Hikes
Edison International beat Wall Street estimates for first-quarter profit on Tuesday, as the utility benefited from lower operating and interest expenses and higher rates for its services. Lower interest rates reduce borrowing costs for power companies, which usually need more …
POSTED APRIL 30, 2025 3:30 PM |
Co-op Is Latest British Retailer to Be Hit by Cyberattack
Britain’s Co-op Group said on Wednesday hackers had attempted to break into its systems, the second high-profile cyber attack on a major UK retailer in as many weeks, following an ongoing incident at Marks & Spencer. The Co-op, which is …
POSTED APRIL 30, 2025 3:28 PM |
Aspen Specialty Settles With Condo in $11M Nashville Bombing Coverage Dispute
Aspen Specialty Insurance Co. has reached a settlement with the owners of a Nashville condominium building that was badly damaged in the Christmas Day bombing in 2020. The terms of the settlement were not disclosed. Both sides have agreed to …
POSTED APRIL 30, 2025 3:01 PM |
West News Archives - Insurance Journal
LA County Approves $4B Payout to Settle Sexual Abuse Claims at Juvenile Facilities
Los Angeles County officials this week approved a $4 billion payout to settle nearly 7,000 claims of sexual abuse in juvenile facilities since 1959. The agreement reached on April 4 far surpasses a $2.6 billion settlement reached in 2022 with …
POSTED APRIL 30, 2025 9:29 PM |
Bill to Address California Wildfire And Insurance Crises Moving Through Legislature
A California Assembly committee advanced a bill designed to deal with the state’s wildfire and insurance crises. The California Safe Homes Act, Assembly Bill 888, passed out of the Assembly Insurance Committee on a unanimous vote. Related: Forecast Calls for …
POSTED APRIL 30, 2025 8:41 PM |
With Wildfire Suits Looming, Edison Beats Estimates on Lower Expenses, Rate Hikes
Edison International beat Wall Street estimates for first-quarter profit on Tuesday, as the utility benefited from lower operating and interest expenses and higher rates for its services. Lower interest rates reduce borrowing costs for power companies, which usually need more …
POSTED APRIL 30, 2025 3:30 PM |
LA Utility Returns to Muni Market for First Time Since Wildfires
The Los Angeles Department of Water and Power is returning to the municipal bond market with a $1 billion offering, roughly three months after shelving a sale in the immediate wake of historic wildfires that began burning in Southern California …
POSTED APRIL 30, 2025 5:00 AM |
People Moves: Smith Joins Alliant Employee Benefits as VP, Sales Director
Josh Smith has joined Alliant Insurance Services as senior vice president and sales director within its employee benefits group. Based in California, Smith will direct business development activities across the western region. Smith has nearly 30 years of sales leadership …
POSTED APRIL 29, 2025 5:00 AM |
California Proposes Allowing Testing of Self-Driving Heavy-Duty Trucks
California regulators have released a new proposal to allow the testing of self-driving heavy duty trucks on public roads. The state’s Department of Motor Vehicles announced proposed regulations last week to allow the testing of self-driving vehicles over 10,001 pounds, …
POSTED APRIL 29, 2025 5:00 AM |
Major Automakers Want Congress to Bar California 2035 Electric Vehicle Plan
Major automakers want Congress to bar California’s landmark plan to end the sale of gasoline-only vehicles by 2035 that has been adopted by 11 other states, warning the rules could begin impacting vehicle shipments in a few months. The U.S. …
POSTED APRIL 28, 2025 6:58 PM |
Call Center Workers’ Comp Fraud Scheme Targeting Spanish-Speakers Leads to Charges
Four individuals, including attorneys, were charged after an investigation reportedly revealed a large-scale workers’ compensation fraud scheme allegedly targeted Spanish-speaking workers and involved the illegal sale of more than 1,100 clients generating more than $550,000 in unlawful referral fees. The …
POSTED APRIL 28, 2025 5:00 AM |
People Moves: Health and Wellness Specialist Hood Joins Alliant Insurance Services
Megan Hood joined Alliant Insurance Services as vice president within its employee benefits group. Based in San Francisco, Hood will predominantly serve mid-sized and large tech employers in Northern California and nationwide. Before joining Alliant, Hood was director of health …
POSTED APRIL 28, 2025 5:00 AM |
DoorDash Asks Judge to Dismiss Uber Suit Over Web Ordering Services
DoorDash Inc. asked a California judge to dismiss Uber Technologies Inc.’s anticompetition lawsuit against it, arguing that Uber is using an “ill-fitting” state law to justify its claims. DoorDash, which has two-thirds of the U.S. food delivery market, argued in …
POSTED APRIL 25, 2025 5:50 PM |
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