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News Archives - Insurance Journal
Amazon Unit Withdraws From Drone Trade Group, Raises Safety Concerns
Amazon.com’s drone unit Prime Air is withdrawing from the Commercial Drone Alliance, taking issue with the industry trade group’s opposition to a regulatory proposal for detect-and-avoid systems to prevent drone collisions with crewed aircraft. In a previously unreported letter seen …
POSTED MARCH 17, 2026 5:15 AM |
Iran-Linked Hackers Take Aim at US, Other Targets, Raising Risk of Cyberattacks
Pro-Iranian hackers are targeting sites in the Middle East and starting to stretch into the United States during the war, raising the risk of American defense contractors, power stations and water plants being swept into a wave of digital chaos …
POSTED MARCH 17, 2026 5:14 AM |
People Moves: HW Kaufman Group Names Hattaway President of RB Jones; Rokstone Hires QBE North America Casualty Leader Lill
HW Kaufman Group Names Hattaway President of RB Jones RB Jones, a managing general underwriter providing specialty risk coverage solutions for brokers, agents and wholesalers, named Michael Hattaway as president. He will be based in New York City and report …
POSTED MARCH 17, 2026 5:13 AM |
AI Hyperscalers’ Shadow Borrowing Bolsters Private Credit Risks
Investment in AI infrastructure via off-balance sheet debt is increasing the exposure of insurers and private credit funds to hyperscalers, according to officials at the Bank for International Settlements. “Alongside traditional bonds, hyperscalers have turned to off‑balance sheet arrangements to …
POSTED MARCH 17, 2026 5:10 AM |
Florida Brownfield Development Bill Raising Concerns About Coverage, Litigation
Amid the last-minute scramble to move legislation before the non-budgetary session was set to end last week, Florida lawmakers quietly approved a bill that could open up more contaminated “brownfield” areas in south Florida to housing development. But the bill, …
POSTED MARCH 17, 2026 5:01 AM |
AM Best Revises Outlooks to Stable for Amica Group
AM Best reports it has revised the outlooks to stable from negative and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of Amica Mutual Insurance Co. and its …
POSTED MARCH 17, 2026 5:00 AM |
Insurer Wants Its $3.5M Back Because City Delayed Reporting Claims for 5 Years
The city of New Haven’s insurance company is insisting that the city pay back the $3.55 million the insurer paid to settle claims over a 2019 rooming house fire in which two people were killed. Pennsylvania Manufacturers Association Insurance Co. …
POSTED MARCH 17, 2026 5:00 AM |
Owners of Large California Tow Operation Charged in $6M Workers’ Comp Fraud Scheme
Owners of one of the biggest towing businesses in Southern California were arrested on multiple counts of felony insurance fraud. Bothers Mark Hassan and Ahmed Hassan were charged with underreporting employee payroll and paying parts of employees’ wages in cash …
POSTED MARCH 17, 2026 5:00 AM |
New Jersey Secures Win in Long-Running Case Over PDX’s Worker Misclassification
After years of litigation, PDX North, Inc., a last-mile automotive parts distribution company, has agreed to pay up to $7 million to resolve worker misclassification violations involving its delivery drivers, announced New Jersey officials. The settlement brings to a close …
POSTED MARCH 17, 2026 5:00 AM |
Bank of America Agrees to Settle Claims It Aided Epstein
Bank of America Corp. has agreed to settle a proposed class action lawsuit on behalf of Jeffrey Epstein victims who accused the bank of aiding in the deceased financier’s sex-trafficking, according to a court record. The agreement in principle was …
POSTED MARCH 16, 2026 10:07 PM |
West News Archives - Insurance Journal
Owners of Large California Tow Operation Charged in $6M Workers’ Comp Fraud Scheme
Owners of one of the biggest towing businesses in Southern California were arrested on multiple counts of felony insurance fraud. Bothers Mark Hassan and Ahmed Hassan were charged with underreporting employee payroll and paying parts of employees’ wages in cash …
POSTED MARCH 17, 2026 5:00 AM |
Even Low-Risk Homes Are Caught Up in California’s Climate Insurance Crisis
As another wildfire season looms, insurance companies have abandoned some California neighborhoods at lower risk of burning, forcing tens of thousands of homeowners to obtain bare-bones coverage from the state’s insurer of last resort. California intended the insurer, called the …
POSTED MARCH 16, 2026 5:30 PM |
Busiest US Seaport Largely Insulated From Iran War Disruptions, Exec Director Says
The busiest U.S. container seaport in Los Angeles is mostly insulated from supply chain upheaval sparked by U.S.-Israel attacks on Iran that have spiraled into a regional conflict, its executive director Gene Seroka said on Thursday. The Iran war has …
POSTED MARCH 16, 2026 5:00 AM |
Uber And Motional Launch Commercial Robotaxi Service in Las Vegas
Uber and Hyundai Motor-backed autonomous vehicle firm Motional launched a commercial robotaxi service in Las Vegas on Friday, the latest in a string of similar tie-ups as the ride-hailing platform doubles down on its self-driving taxi strategy. Related: Amazon’s Zoox …
POSTED MARCH 16, 2026 5:00 AM |
‘Nation’s First’ Smoke Damage Standards Bill Wending Through California Legislature
A bill to create a statewide framework for handling wildfire smoke damage insurance claims is now making its way through California Legislature. The Smoke Damage Recovery Act, which primary backer Insurance Commissioner Ricardo Lara said stems from the recovery process …
POSTED MARCH 13, 2026 7:12 PM |
Expanding Alaska Glacial Lakes Increasing Risk of Destructive Floods
Every summer, people living near the Mendenhall River in Juneau, Alaska, keep a close eye on the water level. When the river level begins to rise rapidly, it’s a sign that Suicide Basin, a small glacier-dammed lake 5 miles up …
POSTED MARCH 13, 2026 5:00 AM |
Muni Bonds in California Get Expensive Amid Flurry of Demand
Municipal bond investors are clamoring for tax-free debt sold by California issuers. That demand is benefiting borrowers across the state — even ones without AAA credit ratings. In general, U.S. state and local government debt has gotten more expensive this …
POSTED MARCH 13, 2026 5:00 AM |
People Moves: Surplus Lines Association of Washington Elects Board of Directors
The Surplus Lines Association of Washington elected officers for the upcoming term at their 2026 annual meeting, including President Cristi Carrington, Vice President Gretchen Echelbarger, Secretary/Treasurer Katy Peterson, and Past President Connie Divelbiss. The association also announced the election of …
POSTED MARCH 13, 2026 5:00 AM |
Once a Beacon of Cheap Homes, Nevada Is a Symbol of the Struggle With High Costs
When his parents were about his age, they bought their first home. But for 27-year-old Brian Torres Suazo, that milestone feels like a distant dream, despite a secure job with union wages and down payment assistance. Torres Suazo expects to …
POSTED MARCH 12, 2026 5:00 AM |
Vouch in California Adds Financial, Health & Life Sciences and Professional Services
Vouch is expanding its brokerage services into financial services, health & life sciences and professional services. The San Francisco, California-based company is extending its capabilities to verticals with similar risk patterns it already serves: investor scrutiny, regulatory requirements and coverage …
POSTED MARCH 12, 2026 5:00 AM |
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