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News Archives - Insurance Journal
Law Restricts Her From Reducing ‘Excessive’ $91M Worker Injury Award, Judge Finds
A Massachusetts judge has declined to reduce the $91 million punitive damages award she approved last September for a construction worker’s personal injury claim, an award she herself characterized as “grossly excessive” but found is required by statute and precedent. …
POSTED AUGUST 05, 2026 12:12 PM |
German DHL Cargo Plane Hits Object as Drone Found at Leipzig Airport
A DHL cargo aircraft hit an unknown object as it was climbing away from Leipzig/Halle airport in eastern Germany overnight, prompting an unscheduled landing in Hanover, a source familiar with the incident told Reuters on Wednesday. Authorities said they were …
POSTED AUGUST 05, 2026 11:31 AM |
AI Now Fuels Over Half of Africa’s Cybercrime, Study Finds
Artificial intelligence is fueling more than half of cybercrime in Africa, enabling criminals to launch faster, more sophisticated attacks as financial losses continue to mount, a new study found. “Cybercrime has emerged as one of the most significant criminal threats …
POSTED AUGUST 05, 2026 10:09 AM |
Danube River Hits Record Lows and Threatens Romania, Hungary Nuclear Plants
The green excavator scooped another heap of arid dirt and rocks before swiveling around to deposit the load onto barges ready to be sunk deep into the Danube River. Watched by a group of workers in the scorching Romanian heat, …
POSTED AUGUST 05, 2026 9:54 AM |
Yemen’s Houthis Say They’ll Target Tankers in Northern Red Sea
Yemen’s Houthi militant group said it would attack Saudi oil tankers in the northern Red Sea, a potential fresh escalation in its attacks on shipping. Houthi military spokesperson Yahya Saree said the move was a result of the kingdom diverting …
POSTED AUGUST 05, 2026 9:19 AM |
Allianz to Buy UOB Asset Management Unit as CEO Targets Asia
Allianz SE agreed to buy the asset management unit of Singapore’s United Overseas Bank Ltd., marking the German insurer’s second major deal in recent days as Chief Executive Officer Oliver Baete pursues growth in the region. Allianz Global Investors, an …
POSTED AUGUST 05, 2026 9:03 AM |
Trump’s Latest Tariffs Hit With New Lawsuit by 25 States
A group of 25 states filed a lawsuit challenging President Donald Trump’s new global tariffs that went into effect last month, adding to similar complaints by small businesses who claim the levies are illegal. New York, California, Illinois and other …
POSTED AUGUST 05, 2026 5:08 AM |
Prediction Market Bets on Wildfires Draw Scrutiny From Senators
A group of Democratic senators urged the Commodity Futures Trading Commission to rein in prediction market trading on wildfires, expressing concern that individuals could be tempted to commit arson to make their bets pay off. “As the United States faces …
POSTED AUGUST 05, 2026 5:02 AM |
Fla. Workers’ Comp Physician Dispensing Ruling Could Produce New Legislative Fight
In a significant decision issued on February 25, 2026, the First District Court of Appeal (DCA) ruled in Publix Super Markets, Inc., et al. v. Department of Financial Services, et al., 430 So. 3d 252 (Fla. 1st DCA 2026), that …
POSTED AUGUST 05, 2026 5:02 AM |
Harbinger for Florida, Gulf States? Seaweed Smothers Coastlines in Caribbean, Mexico
Swaths of seaweed are blanketing the beaches and coastlines of the Caribbean and Gulf of Mexico, suffocating shorelines and snuffing out marine life while spooking visitors in areas that depend heavily on tourism. Some 27 million metric tons of self-sustaining …
POSTED AUGUST 05, 2026 5:02 AM |
West News Archives - Insurance Journal
Edison Equipment Blamed for Deadly Eaton Fire in Los Angeles
Southern California Edison equipment sparked a January 2025 wildfire that killed 19 people in the Los Angeles area, fire officials said. The Eaton Fire was caused by electrical arcing events that took place on an out-of-service tower on a dry …
POSTED AUGUST 05, 2026 5:00 AM |
Orion180 Launches Customizable Private Flood Insurance in California
Orion180 Insurance has rolled out a residential private flood insurance offering in California. The product provides up to $1 million in building coverage, waiting periods as short as 10 days and a streamlined application process. Policies are designed to meet …
POSTED AUGUST 05, 2026 5:00 AM |
Washington Man Charged With Starting Devastating Spokane Fire
A 37-year-old Washington State man has been arrested and charged with arson in connection with one of the wildfires that is devastating Spokane, the County Sheriff’s Office said in a statement. Aaron Farinacci, of Spokane, was taken into custody at …
POSTED AUGUST 04, 2026 1:27 PM |
California High Court Rules for Gilead, Says Drugmakers Don’t Have ‘Duty to Innovate’
California’s highest court ruled on Monday that manufacturers of drugs that are considered safe do not owe a duty to patients to try developing drugs that could be even safer, ruling in favor of Gilead Sciences in the closely watched …
POSTED AUGUST 04, 2026 5:00 AM |
Farmers Files to Expand Coverage, Raise Rates for California Small Businesses
Farmers Insurance filed an upgraded business insurance rating plan to expand commercial insurance coverage for business owners across the state and a rate hike of 15%. The plan, which incorporates elements from the Sustainable Insurance Strategy, includes coverage in in …
POSTED AUGUST 03, 2026 5:28 PM |
Wildfires Destroy Hundreds of Structures in Washington State
Hundreds of structures have been destroyed and tens of thousands of people have been evacuated, as wildfires rip through eastern Washington state in what Spokane Mayor Lisa Brown called “the worst natural disaster our region has faced.” As of about …
POSTED AUGUST 03, 2026 1:17 PM |
US Proposes Deep Colorado River Water Cuts For Arizona, California, Nevada
The U.S. government proposed deep cuts to water supply for Arizona, California and Nevada during dry years in a new plan it released on Friday to operate the drought-stricken Colorado River. Lawsuits from states could challenge the federal intervention and …
POSTED AUGUST 03, 2026 5:00 AM |
Silicon Valley Enclave Most Expensive US ZIP as AI Wealth Surges
In the Silicon Valley enclave of Atherton, a six-bedroom, nine-bath mansion featuring a theater, a private rose garden and a spa hit the market earlier this year for nearly $32 million. It found a buyer within 72 hours, more than …
POSTED AUGUST 03, 2026 5:00 AM |
Edison Says Its Equipment Likely Associated With 2025 LA Fire
Edison International CEO Pedro Pizarro told investors “no other viable alternatives have appeared” to explain what caused a massive wildfire in the Los Angeles area last year other than equipment owned by the company’s Southern California utility. The company now …
POSTED JULY 31, 2026 5:00 AM |
People Moves: UCA Names Balakrishnan Controller, Makes Lemon VP of Underwriting
UCA General Insurance Services Inc., promoted Vijayalakshmi Balakrishnan to vice president, controller. Balakrishnan joined UCA’s accounting team in 2022. In her new capacity, she leads the accounting department and joins the company’s management team. She previously served as an accountant …
POSTED JULY 31, 2026 5:00 AM |
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