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LA Wildfires by The Numbers: Insured Losses, Total Losses, Ratings, Rates
The impact of the historic Los Angeles-area wildfires is being broadly examined and continually refined, with updates almost daily on insured losses, total economic losses and damages, credit ratings—and lately worrying outlooks for the effect of the fires on insurance …
POSTED JANUARY 24, 2025 7:46 PM |
Fitch Revises Mercury’s Outlook to Negative on More Possible LA Fire-Size Cats; Affirms Ratings
Fitch Ratings said in an outlook revision that it expects Mercury General Corp.’s credit profile will withstand the impact of the Eaton and Palisades fires near Los Angeles, but the agency also gave a negative outlook that reflects “the potential …
POSTED JANUARY 24, 2025 6:17 PM |
ZestyAI Approved in Minnesota
ZestyAI, a provider of AI-powered property and risk analytics, announced that its Severe Convective Storm suite, including Z-HAIL™, Z-WIND™, and Z-STORM™, has received regulatory approval from the Minnesota Department of Commerce. This milestone supports Minnesota insurers in improving storm risk …
POSTED JANUARY 24, 2025 5:47 PM |
Trump Administration Reviewing US Automatic Emergency Braking Rule
A U.S. auto safety agency said on Friday it is reconsidering a landmark rule from the administration of former President Joe Biden requiring nearly all new cars and trucks by 2029 to have advanced automatic emergency braking systems. The National …
POSTED JANUARY 24, 2025 5:42 PM |
Kansas Department of Insurance Recovers $11.8M in 2024
Kansas Insurance Commissioner Vicki Schmidt announced the Kansas Department of Insurance recovered more than $11.8 million for Kansans in 2024. The Department’s Consumer Assistance Division has recovered over $47.7 million for Kansans since Commissioner Schmidt first took office in 2019. …
POSTED JANUARY 24, 2025 5:37 PM |
Crop Trader Declares Force Majeure Along US Gulf During Rare Southern Snow
One of the world’s biggest crop traders has halted loading of grain vessels at US Gulf terminals as the region’s worst snowstorm in 130 years slams the region. Archer-Daniels-Midland Co. declared force majeure in southern Louisiana with vessels struggling to …
POSTED JANUARY 24, 2025 5:31 PM |
Texas Asks Wall Street Firms for Details About DEI Efforts
Texas and nine other Republican-led states are ratcheting up pressure on Wall Street’s diversity programs, asking firms about their policies on hiring and supplier selections as the Trump administration moves to gut DEI. Texas Attorney General Ken Paxton wrote on …
POSTED JANUARY 24, 2025 5:30 PM |
Specialist Risk Group Acquires Ecclesia Group’s Assets in Netherlands and Belgium
Specialist Risk Group (SRG), the London-based insurance intermediary, announced it will acquire the assets of Ecclesia Group in The Netherlands and Belgium – a move that will see seven businesses and 700 new colleagues across the two countries join SRG. …
POSTED JANUARY 24, 2025 4:38 PM |
Digital Lloyd’s Syndicate Ki Becomes Separate Company Within Fairfax Group
Ki, the Lloyd’s digital follow platform, announced it completed the separation from its parent company, Fairfax Group, becoming a standalone subsidiary on Jan. 1, 2025. Ki was created in 2020 and started writing business through its Syndicate 1618 in 2021. …
POSTED JANUARY 24, 2025 3:12 PM |
Where Homeowners Rates Are Rising—and Who Is Raising Them Most
According to a new analysis of homeowners insurance rates, some Midwest states saw the biggest jumps in premiums last year—and American Family Insurance topped a list of 10 insurers ranked by average rate change. The analysis published by S&P Global …
POSTED JANUARY 24, 2025 2:20 PM |
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