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Sweden Investigates Possible New Breach of Baltic Sea Cable
Sweden is investigating a possible breach of an undersea cable off the country’s southwestern coast in the Baltic Sea, the coastguard said on Friday, in an area where multiple seabed cables have been damaged in recent months. The Baltic Sea …
POSTED FEBRUARY 21, 2025 9:24 AM |
Pro-Russian Hackers Attack Italian Websites After President’s Comments About Ukraine
A pro-Russian hacker group attacked Italian government websites on Tuesday [Feb. 18] in what it said was a reaction to a speech by Italian President Sergio Mattarella that compared Russia’s invasion of Ukraine to the Nazis ‘ “wars of conquest.” …
POSTED FEBRUARY 21, 2025 9:07 AM |
Climate Goals Still Make Business Sense, Rio Tinto CEO Says
Rio Tinto Group, the world’s second-largest mining company and a major polluter, came out in support of corporate efforts to curb emissions, insisting that pursuing green targets can add value. “Despite the fragmented policy landscape, decarbonization can still be good …
POSTED FEBRUARY 21, 2025 8:51 AM |
India Insurers Look to Hike Health Premiums as Pollution Stings
Indian insurers are considering making New Delhi residents pay 10% to 15% more for new health policies after an extraordinary spike in claims related to air pollution in 2024 in India’s capital, according to nine executives aware of the matter. …
POSTED FEBRUARY 21, 2025 8:36 AM |
Rebuilding Costs Rose More Than 60% in the Last Decade: Verisk
Over the past decade, there’s been a dramatic increase in reconstruction costs, according to Trish Hopkinson, head of 360Value at Verisk. The 10-year analysis examined residential and commercial reconstruction costs between October 2014 and October 2024. National residential reconstruction costs, …
POSTED FEBRUARY 21, 2025 6:52 AM |
Supreme Court Tackles Straight Woman’s ‘Reverse’ Discrimination Case
Marlean Ames received numerous promotions and good evaluations over the years working in Ohio’s youth corrections system, so when she was denied a promotion and demoted in 2019 with a $40,000 pay cut she said she felt “shocked and hurt …
POSTED FEBRUARY 21, 2025 6:07 AM |
New York Sues Vape Distributors for Fueling Teen Epidemic
New York sued several large e-cigarette manufacturers, distributors and retailers on Thursday, saying they fueled a youth vaping epidemic by selling products with cartoonish packaging and flavors such as Baja Slushie, Strawberry Cereal Donut Milk and OMG Blow Pop. Letitia …
POSTED FEBRUARY 21, 2025 6:00 AM |
Zurich Insurance Sees $200 Million LA Wildfire Loss
Zurich Insurance Group AG is expecting pretax losses of $200 million from the January California wildfires as the insurer reported a 5% gain in profit for 2024. Group operating profit rose to $7.75 billion in the year, the company said …
POSTED FEBRUARY 21, 2025 6:00 AM |
County Trash Collector’s Workers’ Compensation Claim Thrown Out
When the garbage truck stopped, the worker stepped down from the metal step on the back of the truck to run and retrieve a trash can. When his feet hit the ground, he heard a pop in his leg, felt …
POSTED FEBRUARY 21, 2025 6:00 AM |
World Insurance Acquired Grandview Brokerage of Brooklyn
National insurance broker World Insurance Associates LLC announced that it acquired the business of Grandview Brokerage LLC of Brooklyn, New York last November. Grandview provides commercial and personal insurance with niches in the healthcare, real estate, and jewelry industry. Michael …
POSTED FEBRUARY 21, 2025 1:15 AM |
West News Archives - Insurance Journal
Zurich Insurance Sees $200 Million LA Wildfire Loss
Zurich Insurance Group AG is expecting pretax losses of $200 million from the January California wildfires as the insurer reported a 5% gain in profit for 2024. Group operating profit rose to $7.75 billion in the year, the company said …
POSTED FEBRUARY 21, 2025 6:00 AM |
AM Best Revises Outlooks to Negative for Mercury and Subsidiaries Over LA Wildfires
AM Best revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) for the members of Mercury Casualty Group. Concurrently, AM Best revised …
POSTED FEBRUARY 20, 2025 9:08 PM |
Airbnb Billionaire Plans Factory-Built Homes for LA Fire Victims
Billionaire Joe Gebbia, the co-founder of Airbnb Inc. and a board member of Elon Musk’s Tesla Inc., plans to donate $15 million of factory-built dwellings to victims of the Los Angeles wildfires. The pre-fabricated houses — made by Gebbia’s startup, …
POSTED FEBRUARY 20, 2025 6:00 AM |
People Moves: West Named Oregon Workers’ Compensation Division Administrator
The Oregon Department of Consumer and Business Services appointed Matt West as administrator of the Workers’ Compensation Division. West has more than 19 years of experience in the workers’ comp industry. He began with the Workers’ Compensation Division in 2003 …
POSTED FEBRUARY 20, 2025 6:00 AM |
Insurance Matters Topped Consumer Cases in Oregon in 2024
Insurance disputes led consumer advocacy cases in Oregon last year, accounting for 3,357 of the 5,445 complaints filed with Oregon Division of Financial Regulation. The division’s consumer advocates recovered nearly $9 million in total for consumers in 2024, including $1.96 …
POSTED FEBRUARY 20, 2025 6:00 AM |
Farmers Estimates $600M in Losses from LA Wildfires
Farmers said on Wednesday that it expects losses from the Los Angeles wildfires last month to reach an estimated $600 million. Insurance companies have so far paid out more than $6.9 billion for losses from the biggest two of the …
POSTED FEBRUARY 19, 2025 3:28 PM |
Scientists Racing to Discover Depth of Ocean Damage From LA Wildfires
On a recent Sunday, Tracy Quinn drove down the Pacific Coast Highway to assess damage wrought upon the coastline by the Palisades Fire. The water line was darkened by ash. Burnt remnants of washing machines and dryers and metal appliances …
POSTED FEBRUARY 19, 2025 6:00 AM |
People Moves: Media Guarantors Names Sutherland SVP, Business Development
Media Guarantors appointed Angus Sutherland as senior vice president of business development and client relationships. Sutherland has more than 20 years of experience in the entertainment industry. In this role, Sutherland oversees client relationships worldwide. He will focus on financial …
POSTED FEBRUARY 19, 2025 6:00 AM |
Washington Company Fined $231,000 for Asbestos Violations
A Washington company was fined $231,000 for exposing workers to asbestos at a jobsite. The Washington State Department of Labor & Industries fined U-Haul of Spokane for exposing workers to asbestos during renovations of a former K-Mart building. The company …
POSTED FEBRUARY 19, 2025 6:00 AM |
Trucordia Acquires Insurance Business of Boater’s Insurance in California
Trucordia acquired the insurance business of Boater’s Insurance Agency in the San Francisco Bay Area. Boater’s Insurance Agency specializes in providing insurance services within the marine industry. The firm is licensed in 50 states. Trucordia, formerly PCF Insurance Services, is …
POSTED FEBRUARY 19, 2025 6:00 AM |
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