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News Archives - Insurance Journal
Musk Agrees to Pay $1.5 Million Over SEC Twitter Stake Case
Elon Musk agreed to pay $1.5 million to settle Securities and Exchange Commission allegations that he cheated Twitter shareholders in 2022 by failing to properly disclose his growing stake in the social media company. An Elon Musk revocable trust would …
POSTED MAY 06, 2026 12:21 PM |
Insurance Distribution Associations Unite to Form New Industry Advisory Council
ACORD, the global standards-setting body for the insurance industry, announced the formation of the ACORD Inter-Association Advisory Council (IAAC). IAAC is a coalition of North American property/casualty associations representing independent agents, brokers, and intermediaries across the North American distribution channel. …
POSTED MAY 06, 2026 12:01 PM |
Spanberger Weighs Legislation to Allow Class Action Lawsuits in Virginia Courts
Gov. Abigail Spanberger is weighing whether to sign or veto legislation that would, for the first time, allow Virginians to file class action lawsuits in state courts — a shift advocates say would expand access to justice, but one that …
POSTED MAY 06, 2026 11:36 AM |
Specialty Insurance Rates Soften Faster Than Expected, Hitting 2020 Price Levels: WTW
Specialty insurance market rates declined in 2025 and during the January 1, 2026 renewals, with the pace of change exceeding expectations, according to WTW’s Specialty Insurance Marketplace Survey (SIMS). Data from the January 1 renewals and new business point to …
POSTED MAY 06, 2026 10:24 AM |
Volkswagen’s Brazil Unit Recalls Five Models for Instrument Panel Software Fix
Volkswagen’s Brazilian unit announced on Monday [May 4] a recall of five models manufactured up to five years ago for a software inspection and potential update to fix a malfunction in the instrument cluster. The recall includes the Polo, Virtus, …
POSTED MAY 06, 2026 9:05 AM |
Fatal 2022 China Plane Crash Points to Midflight Fuel Cutoff
The China Eastern Airlines Corp. jetliner that plummeted into a hillside in 2022, killing all 132 people on board, had its fuel supply cut during the flight, newly released investigative material shows, supporting the theory that the aircraft was intentionally …
POSTED MAY 06, 2026 8:42 AM |
Crew Rescued After Cargo Ship Sinks Off Greece, Coast Guard Says
Greece has rescued all nine crew members, eight Turkish and one Azerbaijani, of a cargo ship that hit rocks and sank off the island of Andros early on Wednesday, a Greek coast guard official said. The Vanuatu-flagged freighter had left …
POSTED MAY 06, 2026 8:03 AM |
Trump Administration Seeks to Stop Minnesota Lawsuit Against Oil Companies
President Donald Trump’s administration moved Monday to block a lawsuit Minnesota officials filed almost six years ago alleging oil companies and a petroleum trade group deceived state residents about climate change. The U.S. Department of Justice, the administration’s law enforcement …
POSTED MAY 06, 2026 8:00 AM |
Trump Pauses Effort to Escort Ships in Strait of Hormuz, Citing Deal Progress
U.S. President Donald Trump said on Tuesday he would briefly pause an operation to help escort ships through the Strait of Hormuz, citing “great progress” toward a comprehensive agreement with Iran. Hours earlier, U.S. Secretary of State Marco Rubio had …
POSTED MAY 06, 2026 7:56 AM |
FSB Watchdog Flags Risks in Banks’ Growing Private Credit Ties
The fast-growing private credit industry’s deepening links with traditional banks and asset managers create risks to the global financial system, the global Financial Stability Board watchdog said on Wednesday, warning some broader measures showed upwards trends of defaults. Signs of …
POSTED MAY 06, 2026 7:02 AM |
West News Archives - Insurance Journal
Bird Flu May Spread Through Air on California Dairy Farms, Study Finds
Air and wastewater may help spread bird flu on California dairy farms, according to a study that points to more transmission routes than previously understood. Researchers sampling 14 infected farms found the H5N1 virus in the air during milking, in …
POSTED MAY 06, 2026 5:00 AM |
DOJ Files Statement of Interest in California Fire Insurance Case
The Department of Justice filed a Statement of Interest in a lawsuit filed against State Farm by homeowners who lost their homes in the January 2025 Los Angeles wildfires. The case, Ferrier v. State Farm Fire and Casualty Company, is …
POSTED MAY 06, 2026 5:00 AM |
A Quiet Alaska Fault Is Missing The Fluids Scientists Expected
Not all earthquake faults behave the same. Some stick and snap, causing earthquakes. Others move slowly over time. For years, the leading explanation for slow-moving faults has been that high-pressure fluids along the fault lubricate it, allowing the slabs to …
POSTED MAY 05, 2026 1:32 PM |
Oregon Regulator Shuts Down Health Sharing Company’s ‘Unlicensed’ Insurance
Oregon regulators ordered a health sharing company to stop selling coverage to residents, saying the company’s membership plans were functioning as unlicensed insurance. ClearShare Health was ordered to stop selling coverage by the Oregon Division of Financial Regulation, which began …
POSTED MAY 05, 2026 5:00 AM |
California Taking Action Against State Farm Over LA Wildfire Claims
The California Department of Insurance is taking action against State Farm over an investigation that reportedly shows the carrier has been mishandling insurance claims from the January 2025 Los Angeles wildfires. A CDI filing alleges violations of the Unfair Insurance …
POSTED MAY 04, 2026 3:00 PM |
New Mexico Seeks Changes to Meta Platforms in Youth Harm Trial
A trial is slated to begin in New Mexico on Monday that will test the state’s claims that Meta’s Facebook, Instagram and WhatsApp platforms harmed young users’ mental health and its bid for a court order forcing the company to …
POSTED MAY 04, 2026 2:36 PM |
People Moves: Alliant Adds McCarter to Employee Benefits Team in Denver
Denver, Colorado-based Rachel McCarter joined Alliant Insurance Services as vice president within its employee benefits group. In this role, she will partner develop and implement benefits services designed to drive value and enhance employee engagement. McCarter has worked with clients …
POSTED MAY 04, 2026 5:00 AM |
Maui Fire Lawsuit Payouts Are Near, but Few Will Break Even
Leslie Clark isn’t counting on money from the Maui wildfire settlement to help rebuild her family home near Front Street in Lahaina. Worrying about something out of her control “is not good for your health,” said Clark, 62, who lost …
POSTED MAY 04, 2026 5:00 AM |
LA Fire Suspect Angry About No Date for New Year’s, Prosecutors Say
Prosecutors said the man they charged with starting the deadly 2025 Palisades Fire in Los Angeles was upset about a failed relationship and not having New Year’s Eve plans just before he set a small blaze which rekindled six days …
POSTED MAY 01, 2026 1:58 PM |
IICF’s Western Division Celebrates $670,000 in Grants; Alphabet’s Nickel Honored
The Insurance Industry Charitable Foundation celebrated more than $670,000 in IICF Community Grants awarded across the region to 78 nonprofit partners at its 11th annual IICF Western Division Horizon Award Gala. The event was held drew insurance leaders from across …
POSTED MAY 01, 2026 5:00 AM |
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