News Archives - Insurance Journal

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28 03, 2025

Myanmar Junta Asks for Aid as Death Toll From Massive Quake Nears 150

By | March 28th, 2025|Uncategorized|Comments Off on Myanmar Junta Asks for Aid as Death Toll From Massive Quake Nears 150

Myanmar’s military leader requested international aid on Friday to help deal with the aftermath of a massive earthquake that they said has left at least 144 people dead. The quake on Friday measured 7.7 in magnitude, according to the US …

28 03, 2025

15% of WR Berkely Shares to Be Acquired by Mitsui Sumitomo Insurance

By | March 28th, 2025|Uncategorized|Comments Off on 15% of WR Berkely Shares to Be Acquired by Mitsui Sumitomo Insurance

W.R. Berkely Corp. said Friday that Japanese property/casualty insurer Mitsui Sumitomo Insurance Co. will buy a 15% stake in the company through open market purchases or private transactions with third parties. W.R. Berkely said the Berkely family will not be …

28 03, 2025

Nevada Man Charged in Connection with Violent Tesla Arson in Las Vegas

By | March 28th, 2025|Uncategorized|Comments Off on Nevada Man Charged in Connection with Violent Tesla Arson in Las Vegas

A Las Vegas resident appeared in U.S. District Court in Las Vegas, Nevada, to face federal charges related to an arson at a Tesla collision business. Paul Hyon Kim, 36, was charged by criminal complaint with one count of unlawful …

28 03, 2025

SEC Beginning to Onboard DOGE Staff, Email Says

By | March 28th, 2025|Uncategorized|Comments Off on SEC Beginning to Onboard DOGE Staff, Email Says

The U.S. Securities and Exchange Commission is beginning to onboard officials with billionaire Elon Musk’s Department of Government Efficiency, according to an email sent on Friday to department staff. SEC staff were informed that the DOGE task force had contacted …

28 03, 2025

Texas Investigating Medicaid Insurer Accused of Spying on Citizens

By | March 28th, 2025|Uncategorized|Comments Off on Texas Investigating Medicaid Insurer Accused of Spying on Citizens

Texas Attorney General Ken Paxton announced Thursday that he has launched an investigation into one of the state’s Medicaid insurance providers after allegations that the company illegally spied on Texans. The state is investigating Superior HealthPlan, an insurance company that …

28 03, 2025

Weather Service Merges Units as Staffing Pressure Rises

By | March 28th, 2025|Uncategorized|Comments Off on Weather Service Merges Units as Staffing Pressure Rises

The US National Weather Service will merge two of its largest forecasting units as it prepares for the loss of as many as 1,000 staffers. Employees were encouraged to take early retirements asa handful of consolidations were announced during an …

28 03, 2025

RYZE Claim Solutions Acquires Texas’ Leading Edge

By | March 28th, 2025|Uncategorized|Comments Off on RYZE Claim Solutions Acquires Texas’ Leading Edge

RYZE Claim Solutions, a full-service claims management company, announced the acquisition of Leading Edge Claims Service, a firm based in Southlake, Texas. This strategic move further strengthens RYZE’s position in the industry, reinforcing its long-term vision for the continued expansion …

28 03, 2025

Concerns Raised Over Contamination of Farm Fields with PFAS-laden Biosolids

By | March 28th, 2025|Uncategorized|Comments Off on Concerns Raised Over Contamination of Farm Fields with PFAS-laden Biosolids

What goes down your toilet can end up on farm fields across the United States. Biosolids, or sewage sludge, are the solid byproducts of the wastewater treatment process. Rich in nutrients, they can be used as fertilizer on agricultural fields …

28 03, 2025

AM Best Removes Negative Implications, Expects Continued Profitability for Pie Insurance

By | March 28th, 2025|Uncategorized|Comments Off on AM Best Removes Negative Implications, Expects Continued Profitability for Pie Insurance

AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of The Pie Insurance Company (Columbus, OH) and its pooled affiliate, Pie …

27 03, 2025

Hannover Re Renews Cloud Outage Catastrophe Bond, Structured by Parametrix

By | March 27th, 2025|Uncategorized|Comments Off on Hannover Re Renews Cloud Outage Catastrophe Bond, Structured by Parametrix

Hannover Re has renewed a cyber catastrophe bond that provides $20 million worth of retrocessional protection against the accumulation of losses caused by a sustained cloud-outage event during 2025-2026. Cumulus Re II is 45% larger than the first iteration of …