News Archives - Insurance Journal

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6 05, 2025

Q1 Has Lowest Insurance Agency M&A in 5 Years; Mega Deals Coming?

By | May 6th, 2025|Uncategorized|Comments Off on Q1 Has Lowest Insurance Agency M&A in 5 Years; Mega Deals Coming?

The first three months of 2025 were the slowest quarter for insurance agency mergers and acquisitions since the second quarter 2020, according to investment banking and financial consulting firm OPTIS Partners. The total number of insurance agency mergers and acquisitions …

6 05, 2025

Renewal Rates Continue Upward YOY for Most Commercial Lines: Ivans Index

By | May 6th, 2025|Uncategorized|Comments Off on Renewal Rates Continue Upward YOY for Most Commercial Lines: Ivans Index

Premium renewal rates increased year-over-year for all major commercial lines, except workers’ compensation, according to first quarter 2025 results of the Ivans Index. Compared to fourth quarter 2024, all lines experienced a decrease in average premium renewal rates except umbrella. …

6 05, 2025

Hurricane Forecasts Are Better Than Ever But NOAA Cuts Could Change That

By | May 6th, 2025|Uncategorized|Comments Off on Hurricane Forecasts Are Better Than Ever But NOAA Cuts Could Change That

(THE CONVERSATION) The National Hurricane Center‘s forecasts in 2024 were its most accurate on record, from its one-day forecasts, as tropical cyclones neared the coast, to its forecasts five days into the future, when storms were only beginning to come …

6 05, 2025

Air Traffic Control Lost Contact With Newark Aircraft; DOT Vows ‘Brand New System’

By | May 6th, 2025|Uncategorized|Comments Off on Air Traffic Control Lost Contact With Newark Aircraft; DOT Vows ‘Brand New System’

Air traffic controllers overseeing planes at Newark International Airport in New Jersey lost contact with aircraft for 30 seconds last week, U.S. Transportation Secretary Sean Duffy said on Monday. “The primary communication line went down, the backup line didn’t fire, …

6 05, 2025

NYC Lost $9 Billion of Income to Miami, Palm Beach in Five Years

By | May 6th, 2025|Uncategorized|Comments Off on NYC Lost $9 Billion of Income to Miami, Palm Beach in Five Years

A net 30,000 New Yorkers fled the city for Florida’s Palm Beach and Miami-Dade counties in the five years through 2022, taking with them a combined $9.2 billion in income, a new report shows. The two Florida counties gained households …

6 05, 2025

M&S, Co-op Cyberattackers Duped IT Help Desks Into Resetting Passwords, Report Says

By | May 6th, 2025|Uncategorized|Comments Off on M&S, Co-op Cyberattackers Duped IT Help Desks Into Resetting Passwords, Report Says

Cyberattacks on Britain’s Marks & Spencer and Co-op Group started with hackers impersonating employees while contacting the retailers’ IT help desks, technology specialist site BleepingComputer reported. The site said the hackers were able to convince the help desks to reset …

6 05, 2025

Lemonade Posts Q1 Loss on Wildfires, Spending; Auto Product Positioned to Grow

By | May 6th, 2025|Uncategorized|Comments Off on Lemonade Posts Q1 Loss on Wildfires, Spending; Auto Product Positioned to Grow

Insurtech Lemonade reported a first quarter 2025 net loss of about $62.4 million compared to a loss of $47.3 million a year ago during the same time. The decline, according to a letter to shareholders, was due primarily to losses …

6 05, 2025

Business Moves: Earnix Agrees to Acquire Insurtech and AI Specialist Zelros

By | May 6th, 2025|Uncategorized|Comments Off on Business Moves: Earnix Agrees to Acquire Insurtech and AI Specialist Zelros

Earnix, the software-as-a-service (SaaS) specialist, announced it has signed a definitive agreement to acquire Zelros, the Paris-based insurtech and developer of artificial intelligence solutions. Financial details of the deal were not disclosed. By combining Earnix’s advanced predictive AI platform with …

6 05, 2025

Smoke Shop Ordered to Pay $4.9 Million for ‘Persistent Illegal Cannabis Sales’

By | May 6th, 2025|Uncategorized|Comments Off on Smoke Shop Ordered to Pay $4.9 Million for ‘Persistent Illegal Cannabis Sales’

Connecticut Attorney General William Tong has secured a $4.93 million judgment against Planet Zaza of East Haven and its owner, Mohamed Alraishani, following “persistent illegal cannabis sales in spite of a court order and repeated law enforcement visits.” Tong said …

6 05, 2025

Oregon’s Compensable Worker Fatalities Down in 2024, Report Shows

By | May 6th, 2025|Uncategorized|Comments Off on Oregon’s Compensable Worker Fatalities Down in 2024, Report Shows

Oregon saw a drop in worker deaths last years, according to newly released data from the state’s Department of Consumer and Business Services. But despite the overall decline, the numbers show that certain industries—particularly logging and construction—continue to carry some …