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News Archives - Insurance Journal
Moody’s: US Faces $375B in Uninsured Flood Losses From 1-in-100-Year Event
The U.S. faces a widening gap between growing flood risk and the take-up of flood insurance, potentially exposing the nation to more than $375 billion in aggregated uninsured flood losses from a 1-in-100-year event, according to a new whitepaper from …
POSTED MAY 28, 2026 1:03 PM |
West Coast Chemical Emergencies Raise Questions About Safety of Massive Industrial Tanks
There are millions of chemical tanks around the U.S., and experts say it is exceedingly rare for them to fail as long as they are properly maintained and inspected. Yet this past week, there were two major hazardous chemical emergencies …
POSTED MAY 28, 2026 1:02 PM |
Panama Passes Law Imposing Stricter Requirements on Multinational Firms
Panama’s National Assembly approved a law that requires multinational entities domiciled in the country to demonstrate real local operations or face a 15% tax on passive foreign income, the Ministry of Economy and Finance said on Wednesday. The law is …
POSTED MAY 28, 2026 12:24 PM |
Germans Switch to EVs at Record Pace Thanks to Government Bonus
More German drivers switched to an electric vehicle in the first quarter of this year than ever before after the government launched a major subsidy program that can shave as much as €6,000 ($6,967) off the price of a new …
POSTED MAY 28, 2026 12:05 PM |
Australia Sues 3M for $1.4 Billion Over PFAS ‘Forever Chemicals’ Contamination
The Australian government said on Thursday it had launched legal action against 3M over contamination from firefighting foam supplied by the U.S. company that contained PFAS, or “forever chemicals,” seeking more than A$2 billion ($1.43 billion) in damages. The claim …
POSTED MAY 28, 2026 9:15 AM |
Iran and US Trade Air Strikes After Trump Dismisses Report of Hormuz Deal
Iran targeted a U.S. air base in Kuwait on Thursday after the United States struck what Washington described as an Iranian drone operation near the Strait of Hormuz and President Donald Trump rejected a reported compromise deal with Tehran. The …
POSTED MAY 28, 2026 8:49 AM |
Viewpoint: The AI Boom – When Risk Stops Being Rare, Insurance Must Evolve
Insurance has always depended on a simple premise. Losses must be possible but not inevitable. You’ve got to be able to know something could happen, and plan for it if possible, but really hope that it doesn’t. That assumption has …
POSTED MAY 28, 2026 8:31 AM |
Michigan House Explosion Leaves 1 Dead
A Michigan house explosion early Tuesday left one person dead and one in critical condition, authorities said. Authorities have not yet determined what caused the fire and explosion, which happened around 4 a.m. in Plainfield Township, north of Grand Rapids. …
POSTED MAY 28, 2026 8:00 AM |
Shepherd Insurance Acquires Pair of Indiana Agencies
Shepherd Insurance announced it has expanded its footprint in Indiana by acquiring a pair of agencies. Shepherd recently acquired Indianapolis-based Capitol Insurance Group. Founded in 1981, Capitol Insurance Group is a family-owned, Indianapolis-based agency known for delivering customized insurance and …
POSTED MAY 28, 2026 5:07 AM |
Volvo Cars Wins Approval to Import Vehicles With ‘Connected Car’ Technology
Volvo Cars, majority owned by China’s Geely Holding, said it received approval from the U.S. government allowing it to continue selling vehicles. In January 2025, President Joe Biden’s administration finalized rules effectively barring nearly all Chinese cars and trucks from …
POSTED MAY 28, 2026 5:04 AM |
West News Archives - Insurance Journal
West Coast Chemical Emergencies Raise Questions About Safety of Massive Industrial Tanks
There are millions of chemical tanks around the U.S., and experts say it is exceedingly rare for them to fail as long as they are properly maintained and inspected. Yet this past week, there were two major hazardous chemical emergencies …
POSTED MAY 28, 2026 1:02 PM |
Emergency Reserve Oil Heads to California for First Time
A cargo of oil from the U.S. Strategic Petroleum Reserve headed to California this month for the first time ever, ship tracking service Kpler said. The unusual movement highlights the redrawing of trade flows and shipping routes as the Iran …
POSTED MAY 28, 2026 5:00 AM |
Insurance Attorneys Flip $1M Hail Claim Into $2M Suit for Contractor Interference
What began as a lawsuit filed against Church Mutual Insurance Company on a $1 million-plus claim dispute turned into a potential $2 million award against a contractor after a jury found the contractor intentionally interfered with the insurance contract and …
POSTED MAY 28, 2026 5:00 AM |
Fatalities Reported in Washington State Packaging Facility Explosion
An accident at a Washington state packaging facility has left at least one person dead, nine missing and nine others injured, with crews working to contain a ruptured tank of caustic chemicals. The incident occurred Tuesday morning at Nippon Dynawave …
POSTED MAY 27, 2026 1:37 PM |
California Officials Lift Evacuation Orders for Residents Near Damaged Chemical Tank
Southern California officials lifted the final evacuation orders Tuesday night for residents who live near a damaged chemical tank, allowing 16,000 people to return home. The crisis that began Thursday had forced 50,000 people to evacuate in and around the …
POSTED MAY 27, 2026 1:26 PM |
Crest Insurance Group Names Hart Vice President, Employee Benefits
Crest Insurance Group named Tony Hart vice president, employee benefits in the firm’s Henderson, Nevada office. Hart has nearly 20 years of employee benefits brokerage and consulting experience and specializes in cost containment, pharmacy management, population health and alternative funding …
POSTED MAY 27, 2026 5:00 AM |
California Narrows Evacuation Area With Risk ‘Off the Table’
There is no longer a risk of a compromised chemical tank exploding in the suburbs of Los Angeles and evacuation orders for some of the more than 50,000 people were lifted, according to the Orange County Fire Authority. The county’s …
POSTED MAY 26, 2026 2:00 PM |
San Francisco Turns to AI to Avoid Collisions Between Ships And Whales
Ferries, cargo ships and tankers cut through choppy waters in the San Francisco Bay as a whale surfaced nearby, its spout barely visible against the white caps. Until now, whales could easily go unnoticed by mariners, but an AI-powered detection …
POSTED MAY 26, 2026 5:00 AM |
Oil Pipeline Shut Down After East Los Angeles Rupture
An oil pipeline operated by Plains All American in East Los Angeles, California, was shut down after a rupture, the company said on Friday. The line was struck by a third party conducting excavation work, the company added. It did …
POSTED MAY 26, 2026 5:00 AM |
Gov. Newsom Issues Executive Order to Prep Workers, Businesses for AI Disruption
California Gov. Gavin Newsom issued an executive order to attempt to deal with the impacts of artificial intelligence on workers and businesses. Related: Acrisure to Cut 2,250 Employees, Citing Advances in Technology and AI The order directs the state to …
POSTED MAY 22, 2026 3:37 PM |
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