News
U.S. Sues Southern California Edison, Blames It for Eaton, Fairview Wildfires
The U.S. government filed two lawsuits against Southern California Edison on Thursday, blaming the utility's equipment for sparking two wildfires, including the Eaton Fire in January that damaged ...
Lightning Sparked Wildfire Devastates Historic California Gold Mining Town, Homes
One of nearly two dozen fires burning across Northern California on Wednesday scorched homes in a Gold Rush town settled in the 1850s by thousands of Chinese miners who had faced discrimination and ...
Lloyd’s Reports Combined Ratio of 92.5 on Drop in H1 Underwriting Result
Lloyd's first-half underwriting result dropped by half to £1.5 billion ($2.0 billion) from £3.1 billion ($4.2 billion) in H1 2024, which was driven primarily by claims from January's California ...
‘Double-Edged Sword’: S&P Scrutinizes Reinsurer Reliance on MGAs
Reinsurers that rely too heavily on managing general agents to access specialized underwriting expertise and distribution are facing scrutiny from analysts at S&P Global Ratings as the market ...
NY Fed Finds Modest Impact of AI on Jobs Even as Usage Increases
Use of artificial intelligence among businesses jumped in the last year and is expected to continue to grow, yet few firms have cut jobs as a result so far, according to a new Federal Reserve Bank of ...
Florida Fines $2M Against 8 Insurers for Past Hurricane Claims Misconduct
The Florida Office of Insurance Regulation (OIR) announced penalties amounting to $2,075,000 against eight insurers, which it said mishandled claims in the wake of Hurricanes Ian and Idalia. In 2025, ...
Neptune Insurance Files for US Listing as IPO Window Reopens
Flood insurance provider Neptune filed for a U.S. initial public offering on Wednesday, becoming the latest company to tap into renewed investor demand as easing tariff concerns and strong markets ...
Hurricane Kiko,Tropical Storm Lorena Gain Strength Over Pacific Ocean
Two tropical cyclones in the eastern Pacific Ocean gained strength earlier this week as they churned at sea, with one expected to bring heavy rain to Baja California and parts of Arizona, forecasters ...