Berkely Says It’s No Longer Pressured to Push for Rate ‘Across the Board
W.R Berkley reported a “flattish” top line but nearly 15% growth in underwriting income for fourth-quarter 2025 this week. The insurer’s chief executive signaled a change in the level of rate increases going forward. President and CEO W. Robert Berkley, …
POSTED JANUARY 29, 2026 6:45 AM |
People Moves: Marsh Risk Expands US Surety Team; AXA XL Appoints Billingslea as Head of Energy; Nixon Joins KCC Leadership Team
Marsh Risk Expands US Surety Team With 3 Leadership Appointments Marsh Risk, headquartered in New York City, made three leadership appointments. Jimmy Tse was named U.S. financial institutions surety growth leader. Tse has 20 years of experience in financial institutions, …
POSTED JANUARY 29, 2026 6:38 AM |
Russia-Linked Oil Tanker Loses Control Again in Mediterranean
A second Russia-linked oil tanker lost control as it was entering the Mediterranean Sea in under a week. The medium-range vessel Chariot Tide first showed signs of difficulty as it approached Tangier, Morocco, on Jan. 21, when its speed abruptly …
POSTED JANUARY 29, 2026 6:15 AM |
US Marshals Are Investigating a Possible Digital-Asset Hack
The US Marshals Service, which provides custody of cryptocurrencies seized by or forfeited to federal law enforcement agencies, said it’s investigating a possible hack of US government digital-asset accounts. “At this time, we will not be making any statement as …
POSTED JANUARY 29, 2026 6:14 AM |
Breakdown Cover and Car Insurance Firm RAC Poised to Pick Banks for London IPO
Breakdown cover and car insurance company RAC is close to selecting banks to lead its initial public offering in London, according to people familiar with the matter. The nearly 130-year-old firm is set to pick Goldman Sachs Group Inc., Bank …
POSTED JANUARY 29, 2026 6:05 AM |
Winter Storm to Cause Billions of Dollars in Insured Losses: UBS
A major winter storm that hit the United States in recent days is expected to cause billions of dollars in insured losses, analysts at brokerage UBS said in a note. The heavy storm has left much of the central and …
POSTED JANUARY 29, 2026 6:02 AM |
Florida House Panel Approves Bill to Waive Building Permits on Work of Less Than $7,500
Spending $7,500 on home repairs may not seem like much in 2026. But a bill approved by a Florida House of Representatives panel on Wednesday would allow construction work below that threshold without a building permit, a change that could …
POSTED JANUARY 29, 2026 6:01 AM |
Commerce Department Plans National AI Center in San Francisco
The U.S. Department of Commerce is preparing to open a national artificial-intelligence center in San Francisco, putting it closer to firms at the center of some of the government’s most high-profile initiatives. In addition to the Bay Area, AI export …
POSTED JANUARY 29, 2026 6:00 AM |
Judge Allows Massachusetts Wind Project to Resume Construction, Blocking Trump Pause
A federal judge on Tuesday allowed Vineyard Wind to resume work on its Massachusetts offshore wind project, which President Donald Trump’s administration halted along with four other projects last month due to national security concerns. The ruling by U.S. District …
POSTED JANUARY 29, 2026 6:00 AM |
People Moves: Brown Appointed Vermont Deputy Commissioner of Captive Insurance
The Vermont Department of Financial Regulation announced the gubernatorial appointment of Christine Brown as deputy commissioner of its captive insurance division. Brown has served in an acting capacity since the start of the year. Brown joined the captive insurance division …
POSTED JANUARY 29, 2026 6:00 AM |
Trump Putting Zeldin in Charge of Permits to Rebuild After LA Wildfires
President Donald Trump on Wednesday said he will put Environmental Protection Agency administrator Lee Zeldin in charge of helping homeowners get permits to rebuild after the California wildfires last January. Related: Trump Orders Federal Takeover of LA Wildfire Rebuilding Efforts …
POSTED JANUARY 29, 2026 6:00 AM |
Thousands of East Texans Remain Without Power After Winter Storm
Thousands of East Texans remain without power days after a winter storm paralyzed most of the state over the weekend. Many may be without power until Sunday as utility workers traverse icy roads in dense forests to restore power. Winter …
POSTED JANUARY 28, 2026 5:46 PM |
People Moves: Novi Underwiters Adds Three to Management Liability Lines
Novi Underwriters has named Jason Binette, James Cinque and Cody Ruggirello to its newly launched management liability offering. Featuring modern forms for a variety of risks and quick points of sale, coverage will benefit auto dealers, fintechs, manufacturers, retailers, foundations, …
POSTED JANUARY 28, 2026 5:27 PM |
Kansas Commissioner Supports Bill to Create Insurance Savings Account
Kansas Insurance Commissioner Vicki Schmidt this week testified in favor of a bill that would create an Insurance Savings Account (ISA). The Kansas Department of Insurance introduced the bill to give Kansans a state tax free way to save for …
POSTED JANUARY 28, 2026 5:16 PM |
People Moves: Texas Mutual Names Cullison as SVP of Talent and Brand Strategy; Brown & Riding Adds Herbert to National Casualty Practice
Texas Mutual Names Cullison as SVP of Talent and Brand Strategy Texas Mutual Insurance Company, the state’s leading provider of workers’ compensation insurance, recently announced Brittany Cullison as its senior vice president of talent and brand strategy, effective January 12. …
POSTED JANUARY 28, 2026 5:13 PM |
Australian Broker AUB Agrees to Buy Majority Stake in UK’s Prestige
AUB Group Ltd., the Sydney, Australia-based brokerage and underwriting agency group, announced it has entered into an agreement to acquire 95.9% of Prestige Insurance Holdings Ltd. for $432 million (US$300.1 million). Founded in 1973, Prestige is a diversified insurance broking …
POSTED JANUARY 28, 2026 5:04 PM |
Google to Pay $135 Million to Settle Android Data Transfer Lawsuit
Google will pay $135 million to settle a proposed class action by smartphone users who accused Google of programming its Android operating system to collect their cellular data without permission. A preliminary settlement with the Alphabet unit was filed late …
POSTED JANUARY 28, 2026 4:17 PM |
People Moves: MEMIC Hires Coy as CIO
The MEMIC Group, headquartered in Portland, Maine, hired Matt Coy as chief information officer (CIO), succeeding Jack Yao, who retired at the end of 2025 after more than nine years of service. Coy leads MEMIC’s technology strategy, rejoining MEMIC after …
POSTED JANUARY 28, 2026 4:05 PM |
Judge Allows Dali Manager’s Bid to Limit Liability for Baltimore Bridge Collapse
A federal judge has allowed the manager of the cargo ship Dali involved in the tragic collapse of Baltimore’s Francis Scott Key Bridge in March 2024 to proceed for now with its claims under an 1851 maritime law that limits …
POSTED JANUARY 28, 2026 4:03 PM |
Progressive Q4 Income Up 25%; CFO Sauerland to Retire in July
Fourth quarter 2025 net income at Progressive Corp. increased 25% compared to the same period a year ago to nearly $3 billion. Progressive reports results monthly. Net income for December was up 22% to about $1.15 billion. Full-year net income …
POSTED JANUARY 28, 2026 3:20 PM |
California Seafood Distributor Paying $248K for Prop 65 Violations
A California seafood is paying $248,000 to resolve allegations it sold frozen seafood products with elevated levels of lead and cadmium without the required warnings. California Attorney General Rob Bonta’s office settled with Pacific American Fish Company Inc., a seafood …
POSTED JANUARY 28, 2026 3:04 PM |
Howden-Driven Talent War Has Cost Brown & Brown $23M in Revenue, CEO Says
The Howden-driven talent war has cost Brown & Brown $23 million in revenue, according to J. Powell Brown, the broker’s president and chief executive officer. “As of today, approximately 275 of our former teammates have joined this start-up, taking with …
POSTED JANUARY 28, 2026 2:28 PM |
Mississippi, Deep South Shiver Under Ice as Long Recovery Looms
Residents in a iced-over swath of Mississippi began to confront the ugly truth Monday as they shivered in ever-colder and darkened houses: Recovery from the state’s worst ice storm in more than 30 years could take a week or more. …
POSTED JANUARY 28, 2026 2:17 PM |
FAA’s Failure to Act on Safety Risks Blamed for Midair Collision at Reagan Airport
The US Federal Aviation Administration’s failure to monitor and act on safety risks in the airspace near Washington was among a number of systemic failures safety officials blamed for last year’s midair collision. The National Transportation Safety Board has been …
POSTED JANUARY 28, 2026 12:56 PM |
Tokio Marine HCC Lists Top 10 Cyber Incidents in 2025
Among the top 10 cyber incidents in 2025 was the first documented case of an AI-orchestrated espionage campaign, which illustrated how artificial intelligence (AI) is being leveraged by sophisticated threat actors, according to Tokio Marine HCC International (TMHCCI), in its …
POSTED JANUARY 28, 2026 10:57 AM |