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News Archives - Insurance Journal
State Farm Has Paid out $2.5 Billion for LA Wildfires
State Farm has reported paying out $2.5 billion for the Los Angeles wildfires in January, more than double what the carrier reported paying out weeks earlier. “As of March 28, we’ve received more than 12,300 total claims related to the …
POSTED MARCH 28, 2025 8:30 PM |
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 …
POSTED MARCH 28, 2025 4:51 PM |
MS&AD Insurance Group Announces Merger of 2 Non-Life Subsidiaries
MS&AD Insurance Group Holdings Inc. announced it will merge two of its non-life insurance company subsidiaries – Mitsui Sumitomo Insurance Co. Ltd. and Aioi Nissay Dowa Insurance Co. Ltd. This merger will establish a non-life insurance company that holds the …
POSTED MARCH 28, 2025 4:44 PM |
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 …
POSTED MARCH 28, 2025 4:32 PM |
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 …
POSTED MARCH 28, 2025 4:23 PM |
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 …
POSTED MARCH 28, 2025 4:22 PM |
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 …
POSTED MARCH 28, 2025 4:18 PM |
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 …
POSTED MARCH 28, 2025 3:59 PM |
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 …
POSTED MARCH 28, 2025 3:50 PM |
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 …
POSTED MARCH 28, 2025 3:44 PM |
West News Archives - Insurance Journal
State Farm Has Paid out $2.5 Billion for LA Wildfires
State Farm has reported paying out $2.5 billion for the Los Angeles wildfires in January, more than double what the carrier reported paying out weeks earlier. “As of March 28, we’ve received more than 12,300 total claims related to the …
POSTED MARCH 28, 2025 8:30 PM |
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 …
POSTED MARCH 28, 2025 3:50 PM |
Pinnacol Assurance Giving $15M Dividend to Colorado Businesses
Pinnacol Assurance announced its 2025 general dividend will return roughly $15 million to more than 47,000 workers’ compensation insurance policyholders across Colorado. Th dividend marks the 10th consecutive year Pinnacol has returned dividends to Colorado businesses. The 2025 dividend, which …
POSTED MARCH 28, 2025 5:00 AM |
California Agency Issues Guidelines for Healthcare Providers Affected by LA Wildfires
The California Department of Managed Health Care issued an all-plan letter designed to provide flexibility for health plans to assist healthcare providers impacted by the Los Angeles wildfires. Related: LA Municipal Utility Says No Evidence Energized Power Line Caused Fire …
POSTED MARCH 27, 2025 7:39 PM |
People Moves: Trucordia Names Davidson SVP of Insurance Broking and Strategy
Trucordia, headquartered in Lindon, Utah, named Aaron Davidson senior vice president, broking and strategy. Davidson joins Trucordia from Peak 8 Advisors, where he was a managing partner. Earlier in his career, Davidson served as chief executive officer and president of …
POSTED MARCH 27, 2025 5:00 AM |
Washington, Nevada and Oregon Saw Biggest US Vehicle Theft Drops in 2024
Washington, Nevada and Oregon had the biggest percentage drops in vehicle thefts in the U.S. in 2024, according to a new report that shows vehicle thefts nationally fell by 17% in 2024 from a year earlier, marking the largest annual …
POSTED MARCH 27, 2025 5:00 AM |
After Lahaina Fire, Residents Address Their Risk By Becoming ‘Firewise’
The car tires, propane tanks, gas generators and rusty appliances heaped on the side of a dirt road waiting to be hauled away filled Desiree Graham with relief. “That means all that stuff is not in people’s yards,” she said …
POSTED MARCH 27, 2025 5:00 AM |
LA Municipal Utility Says No Evidence Energized Power Line Caused Fire
A Los Angeles Department of Water and Power (LADWP) above-ground power line near the Pacific Palisades was energized when the Palisades Fire began early this year, but that there is no evidence that the line contributed to the blaze, the …
POSTED MARCH 26, 2025 3:23 PM |
New Fire Maps Put Nearly 4M Californians in Hazardous Zones
New bursts of yellow dot the hills of Mendocino County. Smears of burnt orange now span the aqueduct near Bakersfield. A fresh splash of crimson juts east of Chico like a fresh wound. With the release of its fourth and …
POSTED MARCH 26, 2025 5:00 AM |
Los Angeles Presses State for Help With $1B Deficit As It Rebuilds From Fires
Los Angeles is looking to California for financial help as the city faces a nearly $1 billion budget deficit projected for the next fiscal year. Mayor Karen Bass and a group of city council members went to Sacramento, the state …
POSTED MARCH 26, 2025 5:00 AM |
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