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News Archives - Insurance Journal
Company Hit With $9 Million Fine for 2023 Oil Spill off Louisiana Coast
Pipeline safety regulators this week assessed their largest fine ever against the company responsible for leaking 1.1 million gallons of oil into the Gulf off the coast of Louisiana in 2023. But the $9.6 million fine isn’t likely to be …
POSTED JANUARY 09, 2026 11:00 AM |
Russian-Bound Tanker Hit by Drone in Black Sea, Maritime Sources Say
A Russia-bound oil tanker suffered a drone attack in the Black Sea that prompted it to request Turkish coastguard assistance and divert from its course, according to a notice by Lloyd’s List Intelligence and a separate maritime security source on …
POSTED JANUARY 09, 2026 10:32 AM |
China Urges Nestlé to Work Quickly on Baby Formula Recall
Chinese authorities are urging Nestlé SA to work quickly in recalling baby formula products in the mainland over potential contamination concerns. The State Administration for Market Regulation said Thursday that Nestlé had an important corporate responsibility to protect the rights …
POSTED JANUARY 09, 2026 9:40 AM |
Markets/Coverages: Mosaic Insurance Launches Bermuda Excess Casualty Business
Mosaic Insurance has launched an excess casualty unit, its eighth global product line, and hired specialist April Andruczyk to lead the business from Bermuda. The new division, which begins underwriting immediately, will provide support to large corporate and multinational clients …
POSTED JANUARY 09, 2026 9:25 AM |
Insurers Buy Erste SRT Deal Linked to €10 Billion Loans for M&A
Erste Group Bank AG sold a significant risk transfer linked to more than €10 billion ($11.7 billion) of loans as the Austrian bank seeks to free up capital for its largest ever acquisition. The Vienna-based lender sold the SRT to …
POSTED JANUARY 09, 2026 8:50 AM |
CRC Group Completes Acquisition of Lloyd’s Managing Agency Atrium
CRC Group, the Charlotte, North Carolina-based wholesale specialty and MGA business, announced the completion of its acquisition of Atrium, the Lloyd’s managing agency. Atrium will retain its brand name and operate independently under the leadership of CEO John Fowle and …
POSTED JANUARY 09, 2026 8:34 AM |
Japanese Insurer Sompo to Ramp Up Overseas Credit Investments
Sompo Holdings Inc. is aiming to increase investments in higher-yielding overseas credit to boost profits as traditional business flounders at Japan’s third-biggest property and casualty insurer. The Tokyo-based company moved several investment managers from its Japan insurance subsidiary to work …
POSTED JANUARY 09, 2026 8:09 AM |
Detroit Suburb to Pay Settlement in the Case of Woman Improperly Declared Dead
A Detroit suburb has agreed to a $3.25 million settlement with the family of a young woman who had been declared dead at home but then gasped for air and opened her eyes when her body bag was unzipped at …
POSTED JANUARY 09, 2026 8:00 AM |
Texas Congresswoman Wants Legal Status for Migrant Construction Workers
U.S. Rep. Monica De La Cruz promised to explore new ways for migrants to work legally in the construction industry. The Edinburg Republican announced on Monday her plans to meet with the U.S. Department of Labor, after South Texas builders …
POSTED JANUARY 09, 2026 8:00 AM |
People Moves: IICF Names Marohn Chair, McDonough Vice Chair of Board of Governors; AXA XL Promotes Stitham to CUO, Casualty, Americas
Insurance Industry Charitable Foundation Announces Marohn as Chair of IICF Board of Governors The Insurance Industry Charitable Foundation (IICF) named Steve Marohn, president, commercial lines at Grange Insurance, as chair of IICF’s board of governors. Adam McDonough, executive vice president …
POSTED JANUARY 09, 2026 7:35 AM |
West News Archives - Insurance Journal
Less Than A Dozen Homes Have Been Rebuilt A Year After LA Wildfires
On the first anniversary of the most destructive wildfires in the L.A. area, the scant home construction projects stand out among the still mostly flattened landscapes. Fewer than a dozen homes have been rebuilt in Los Angeles County since the …
POSTED JANUARY 09, 2026 6:00 AM |
People Moves: Moore Named General Counsel at Aspire
Aspire General Insurance Services named April Moore general counsel. Moore is a legal and insurance leader with two decades of experience, previously serving as general counsel of USA Underwriters Insurance Company. She previously served at Nationwide, The Auto Club Group …
POSTED JANUARY 09, 2026 6:00 AM |
Duffy Pulls $160 Million From California Over Truck Licenses
The U.S. Department of Transportation is withholding about $160 million from California after the state delayed canceling thousands of commercial driver’s licenses that regulators say were issued illegally. Transportation Secretary Sean Duffy said Wednesday that the Federal Motor Carrier Safety …
POSTED JANUARY 08, 2026 2:49 PM |
Newsom Plans Crackdown on Corporate Homebuying in California
California Gov. Gavin Newsom will call for a crackdown on institutional investors buying up homes in the state during a speech Thursday, following a similar announcement by President Donald Trump. Newsom plans on saying he will work with local legislators …
POSTED JANUARY 08, 2026 2:44 PM |
People Moves: Roxborough Named 2026 CHSWC Chair
The California Commission on Health and Safety and Workers’ Compensation elected CHSWC Commissioner Nicholas Roxborough as the chair of the commission for 2026. Roxborough is the managing partner of Roxborough, Pomerance, Nye & Adreani, LLP. He specializes in representing insured …
POSTED JANUARY 08, 2026 6:00 AM |
California Bill Would Require Insurer Claims Handling Plans, and Double Penalties
A bill that promises legislative reform in California to speed up disaster recovery for homeowners and renters through improved insurance coverage and expanded consumer protections was introduced on the anniversary of the Los Angeles wildfires. The Disaster Recovery Reform Act, …
POSTED JANUARY 07, 2026 7:30 PM |
Southern California Aerospace Firm to Pay $1.5M to Resolve False Claims Act Allegations
An aerospace and defense electronics company based in Chatsworth, California, agreed to pay $1.5 million to resolve allegations that it violated the False Claims Act by supplying aircraft parts to the military that did not meet contract specifications. Teledyne RISI …
POSTED JANUARY 07, 2026 6:00 AM |
Their Homes Survived The LA Wildfires; A Year Later They Fear Living in Them
“DANGER: Lead Work Area” reads a sign on a front door of an Altadena home. “May damage fertility or the unborn child. Causes damage to the central nervous system.” Block after block there are reminders that contaminants still linger. House …
POSTED JANUARY 07, 2026 6:00 AM |
JPMorgan, Citi Extending Mortgage Relief for LA Wildfire Victims
California Gov. Gavin Newsom said a group of major banks have agreed to extend mortgage relief for Los Angeles wildfire victims, as the area struggles to rebuild one year after the devastating blazes. Wells Fargo & Co., JPMorgan Chase & …
POSTED JANUARY 06, 2026 9:04 PM |
Morningstar: A Year Later, LA Wildfires Were ‘Significant Stress Event’ for Insurance
In a report one year on from the Los Angeles area wildfires in 2025, which started on Jan. 7, Morningstar DBS Research issued a perspective that called the fires “a significant stress event” for California’s property/casualty insurance sector. The industry …
POSTED JANUARY 06, 2026 4:08 PM |
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