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News Archives - Insurance Journal
Allstate Q2 Income Eclipses $2B as Auto Turns in Combined Ratio of 86
Allstate Corp. second quarter 2025 net income applicable to common shareholders was about $2.1 billion, far exceeding the $301 million booked for the same quarter a year ago. The result this year reflects an after tax gain of $643 million …
POSTED JULY 31, 2025 4:04 AM |
Verisk’s $2.35B Buy of AccuLynx ‘Natural Fit’ for Claims Management Solutions
Insurance data analytics and technology firm Verisk said it has an agreement in place to acquire AccuLynx, a software-as-a-service platform designed for residential roofing contractors, for $2.35 billion. Verisk said in a July 30 announcement that both companies play key …
POSTED JULY 30, 2025 7:36 PM |
Cotality Estimates $1.1B in Damage to Residential Buildings from Central Texas Floods
Cotality estimates that the recent Central Texas flash floods caused $1.1 billion in damage to residential buildings, with the National Flood Insurance Program providing as much as $135 million in insurance recoveries to home and business owners across the impacted …
POSTED JULY 30, 2025 4:36 PM |
People Moves: LSM Hires Nelson, Ciraci and Prout to Boost Renewables Offering; BMS Promotes Wookey to Managing Director, Bermuda Product Line Development
This edition of International People Moves details appointments at Liberty Specialty Markets and the broker BMS. A summary of these new hires follows here. Liberty Specialty Hires Nelson, Ciraci and Prout to Boost Renewables Offering Liberty Specialty Markets (LSM), part …
POSTED JULY 30, 2025 4:18 PM |
Two Georgia Men Denied Bond After Charged With Large Cache of Homemade Bombs
Two Georgia men, denied bond, are in jail awaiting court action after they were charged with possessing a large amount of homemade explosive devices. The Georgia Office of Insurance Commissioner and State Fire Marshal’s Office, along with the Floyd County …
POSTED JULY 30, 2025 3:46 PM |
South African State Insurer Builds $1.1 Billion Riot Buffer
South Africa’s state-owned risk insurer, which the government bailed out so it could meet claims stemming from riots four years ago, has built up a 20 billion-rand ($1.1 billion) buffer to safeguard its finances in the event of anticipated future …
POSTED JULY 30, 2025 3:37 PM |
Huge Quake Rocks Russia’s Far East, Triggering Tsunami Warnings Around Pacific
A very powerful magnitude 8.8 earthquake off Russia’s Far Eastern Kamchatka coast on Wednesday triggered tsunami warnings as far away as French Polynesia and Chile, and was followed by an eruption of the most active volcano on the peninsula. The …
POSTED JULY 30, 2025 3:07 PM |
Brown & Brown’s Profit Climbs on Fee and Commission Growth
Brown & Brown posted a rise in second-quarter profit on Monday as the insurance broker benefited from higher commissions and fees driven by growing demand. Insurance spending has continued to grow, even as businesses and individuals pull back in other …
POSTED JULY 30, 2025 2:57 PM |
Derechos: An Uncommon And Destructive Weather Event
Prolonged wind events that unleash heavy rainfall and travel far distances sometimes qualify as derechos. Derechos can happen almost anywhere in the United States but are most common in the central and eastern regions of the country. Winds typically gust …
POSTED JULY 30, 2025 1:58 PM |
Palo Alto Networks Reaches $25 Billion Deal for CyberArk
Palo Alto Networks Inc. agreed to buy CyberArk Software Ltd. in a cash-and-stock deal valuing the Israeli cybersecurity company at about $25 billion. Palo Alto will pay CyberArk investors $45 per share and 2.2005 shares of Palo Alto stock, according …
POSTED JULY 30, 2025 1:58 PM |
West News Archives - Insurance Journal
Most Affordable Sedans And Subcompacts to Insure This Year, According to Mercury in California
Sedan and subcompact crossover models are listed among the year’s most affordable vehicles to insure, including two from Hyundai Motor Group and two Nissans, according to a list out on Tuesday from Mercury Insurance. The California-based carrier compiles an annual …
POSTED JULY 30, 2025 5:00 AM |
Inszone Acquires Beasy Insurance Services in California
Inszone Insurance Services acquired Beasy Insurance Services in California. Founded by Wendy Beasy in 2002, Beasy Insurance Services specializes in personal lines coverage placement throughout California and the Southwest. Sacramento, California-based Inszone is an insurance brokerage firm offering of property/casualty …
POSTED JULY 30, 2025 5:00 AM |
UCLA to Pay Over $6 Million to Settle Lawsuit on Antisemitism
The University of California at Los Angeles agreed to pay more than $6 million to settle discrimination complaints brought by Jewish students and faculty members who assailed the school for allowing a “Jew Exclusion Zone” on campus during pro-Palestinian protests …
POSTED JULY 29, 2025 10:58 PM |
All 3 Aboard Small Plane That Crashed in Ocean off California Died, Officials Say
All three people aboard a small twin-engine plane that crashed into the Pacific Ocean off California’s central coast perished, law enforcement officials said. The Monterey County Sheriff’s Office confirmed late Sunday that the three occupants of the plane that went …
POSTED JULY 29, 2025 1:44 PM |
PG&E in California Reaches Accidental Release Rule Settlement
Pacific Gas and Electric Company has reached a settlement to resolve a violation of the Clean Air Act and the 2020 Accidental Release Reporting rule. The agreement with the U.S. Environmental Protection Agency and the U.S. Chemical Safety and Hazard …
POSTED JULY 29, 2025 5:00 AM |
Panel Passes Bill to Curb Vacation Rentals, Boost Housing Supply After Lahaina Wildfire
Lawmakers on Maui passed legislation aimed at eliminating a large percentage of the Hawaiian island’s vacation rentals to address a housing shortage exacerbated by the wildfire that destroyed most of Lahaina two years ago. It’s the latest action by a …
POSTED JULY 29, 2025 5:00 AM |
Southwest Crew Members Injured After Jet Makes Evasive Move Over California
Two flight attendants on a Southwest Airlines Co. jet were injured Friday after the pilot had to maneuver sharply in response to alerts that another aircraft was in the vicinity. About six minutes after takeoff, Southwest Airlines flight 1496 dropped …
POSTED JULY 28, 2025 1:50 PM |
California FAIR Plan Rolls Out Commercial High Value Policy
The California FAIR Plan has increased commercial coverage limits and is now offering a commercial high value policy for condominiums, farms, wineries and other businesses in the state that cannot find insurance through the voluntary or excess and surplus insurance …
POSTED JULY 25, 2025 6:20 PM |
Man Who Killed Idaho Firefighters Was Turned Away by Fire Department
The man accused of fatally shooting two Idaho firefighters before killing himself last month had tried to join the fire department, and became angry when told he would need to go through training and testing. Wess Roley also tried to …
POSTED JULY 25, 2025 5:07 PM |
Tesla to Launch Robotaxi Service in San Francisco This Weekend
Tesla is preparing to launch its robotaxi service in San Francisco as soon as this weekend, Business Insider reported on Friday, citing an internal staff memo. Tesla said its timeline for the launch had been moved up and the service …
POSTED JULY 25, 2025 1:12 PM |
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