This post is part of a series sponsored by Old Republic Surety. Surety bonds have garnered an unfortunate reputation of being “ugly” or “uncomfortable” for independent insurance agents for many reasons. Unlike a traditional insurance contract, which is a two-party …
BOND: Not an ‘Ugly’ 4-Letter Word Read More »
Allstate Corp. first quarter 2025 net income applicable to common shareholders fell more than 52% to $566 million primarily due to a record $3.3 billion of gross catastrophe losses. The gross loss was partially offset by $1.1 billion of reinsurance …
Allstate Q1 Income Drops 52% on Record $3.3B Gross Catastrophe Losses Read More »
Los Angeles County officials this week approved a $4 billion payout to settle nearly 7,000 claims of sexual abuse in juvenile facilities since 1959. The agreement reached on April 4 far surpasses a $2.6 billion settlement reached in 2022 with …
LA County Approves $4B Payout to Settle Sexual Abuse Claims at Juvenile Facilities Read More »
A California Assembly committee advanced a bill designed to deal with the state’s wildfire and insurance crises. The California Safe Homes Act, Assembly Bill 888, passed out of the Assembly Insurance Committee on a unanimous vote. Related: Forecast Calls for …
Bill to Address California Wildfire And Insurance Crises Moving Through Legislature Read More »
The Oklahoma Insurance Department is preparing for a second pilot launch of the Strengthen Oklahoma Homes Program, which provides up to $10,000 to residents to upgrade their homes to the IBHS Fortified standard. Applicants who are eligible and live in …
Strengthen Oklahoma Homes Program to Hold Second Pilot Launch Read More »
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Missouri Valley Mutual Insurance Company (MVMIC) based in Burke, South Dakota. …
AM Best Revises Outlook to Negative for Missouri Valley Mutual Insurance Company Read More »
This edition of International People Moves details appointments at SiriusPoint and Howden. A summary of these new hires follows here. SiriusPoint Taps AIG’s Gibson as International Chief Underwriting Officer SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, announced the appointment …
A car smashed through a building Monday afternoon, killing four young people and injuring several others during an after-school program in a small city outside of Springfield, Illinois, police said. Officers responded at about 3:20 p.m. to calls about a …
Car Smashes Through Illinois Building, Killing 4 Young People and Injuring Others Read More »
Maryland Insurance Commissioner Marie Grant appointed Patricia Dorn as associate commissioner for consumer education and advocacy at the Maryland Insurance Administration. Dorn, who has served at the Maryland Insurance Administration since 2012, will lead the Consumer Education and Advocacy Unit …
People Moves: Dorn Named to Maryland Insurance Administration Post Read More »
Edison International beat Wall Street estimates for first-quarter profit on Tuesday, as the utility benefited from lower operating and interest expenses and higher rates for its services. Lower interest rates reduce borrowing costs for power companies, which usually need more …
With LA Wildfire Suits Looming, Edison Beats Estimates on Lower Expenses and Rate Hikes Read More »
