State Farm Agrees to $15M Settlement for Underpaid Vehicle Claims in Arkansas
A federal judge last month approved a preliminary class settlement resolving claims that State Farm underpaid Arkansas policyholders for total loss vehicle claims by applying an erroneous valuation method. Under the settlement agreement, State Farm will pay $15.6 million to …
POSTED APRIL 17, 2026 4:22 PM |
Update: Shipping Firms Seek Clarifications Before Transiting Now-Opened Hormuz
Shipping companies have cautiously welcomed Iran’s announcement that the Strait of Hormuz is open but said they would require clarifications, including about the risk of mines, before vessels move through the entry point to the Gulf. Foreign Minister Abbas Araqchi …
POSTED APRIL 17, 2026 4:05 PM |
Marsh Aims to Be ‘AI Winner’ by Focusing on Gains in Growth, Productivity, Efficiency
Marsh aims to be an “AI winner” through growth, productivity and efficiency gains, according to John Doyle, president and CEO of the broker and risk adviser. “[W]e see AI as a powerful accelerator and enabler in delivering value to our …
POSTED APRIL 17, 2026 3:07 PM |
Pensylvaia Firefighters Back on Job After 6-Day Insurance Lapse
The two volunteer fire departments serving the western Pennsylvania borough of Vandergrift have resumed responding to 911 calls. Mayor Lenny Collini said the firefighters returned to their stations on Thursday after a six day interruption due to a lapse in …
POSTED APRIL 17, 2026 3:00 PM |
NYC Mayor Eyes City-Run Insurance Program for Affordable Housing
New York City Mayor Zohran Kwame Mamdani is seeking to lower the cost of property and liability insurance for affordable and rent-stabilized housing through a new city-run insurance program. Mamdani plans to hire independent actuarial experts to design and launch …
POSTED APRIL 17, 2026 2:56 PM |
People Moves: PIA Arkansas’ Shearon to Retire as Executive Director
The Professional Insurance Agents of Arkansas (PIA Arkansas) announced that Executive Director Staci Shearon will retire effective May 29, 2026, concluding nearly 20 years of leadership and service to the association and the independent insurance community. Shearon informed the PIA …
POSTED APRIL 17, 2026 2:52 PM |
Michigan Updates Air Quality Risk System Ahead of Wildfire Season
After Canadian wildfires brought extremely poor air quality to Detroit in the summers of 2023 and 2025, Michigan is updating how it communicates air quality risks to residents this year. The state is streamlining a system that has evolved with …
POSTED APRIL 17, 2026 2:50 PM |
South Texas Cities Racing to Drill Wells Amid Historic Drought Crisis
As a historic drought in South Texas deepens, parched cities along the coastal bend are following Corpus Christi’s playbook and racing to drill their way out of a crisis. But as more and more cities turn to groundwater instead of …
POSTED APRIL 17, 2026 2:32 PM |
Midwest States Reel from Severe Storms
Floodwaters from record rainfall in Wisconsin inundated streets Wednesday, trapping drivers and forcing officials to close sections of a highway, as other Midwestern states worked to rebuild after storms. Cars were stranded in high floodwater on a highway in Milwaukee …
POSTED APRIL 17, 2026 2:27 PM |
Carnival Cruise Passenger Served 14 Shots Awarded $300,000 After Fall Down Stairs
Carnival Cruise Line should pay $300,000 to a former passenger after a federal jury in South Florida found that the company was negligent in serving the woman more than a dozen shots of tequila before she fell down some stairs …
POSTED APRIL 17, 2026 2:24 PM |
Higginbotham Adds Alabama ‘Powerhouse’ Harmon Dennis Bradshaw Agency
Higginbotham, the Texas-based insurance brokerage ranked as the 12th-largest broker in the country last year, has added Harmon Dennis Bradshaw Inc., an independent agency in Alabama and Georgia, to its growing list of partner agencies. Harmon Dennis, known as HDB, …
POSTED APRIL 17, 2026 2:02 PM |
Travelers Profit Rises on Stronger Underwriting, Lower Catastrophe Losses
Property and casualty insurance giant Travelers reported a jump in first-quarter profit, buoyed by robust underwriting gains and lower catastrophe losses than a year earlier when results were severely hit by the Los Angeles wildfires. Shares of the company, whose …
POSTED APRIL 17, 2026 1:53 PM |
Companies Scramble for Tariff Refunds as US Prepares to Launch Claim Process
Jay Foreman said he’s “locked and loaded” for the U.S. government’s launch on Monday of a new system to refund up to $166 billion in illegally collected tariffs, but he and many other importers are realistic that much could still …
POSTED APRIL 17, 2026 1:33 PM |
Beazley Plans $1B Marine War Consortium for Transiting Strait of Hormuz
Beazley, the specialty Lloyd’s insurer, has announced its intention to launch a marine war consortium, offering up to $1 billion of Lloyd’s capacity, which comprises $500 million for hull war and $500 million for cargo war. The consortium, which will …
POSTED APRIL 17, 2026 11:07 AM |
US-Iran Deal Will Take Months, Gulf and Europe Officials Say
Some Gulf Arab and European leaders believe that a US-Iran peace deal will take about six months to be agreed and that the warring sides should extend their ceasefire to cover that timeframe, according to officials from the regions familiar …
POSTED APRIL 17, 2026 8:46 AM |
Europe Looks to Contain Trump’s Fury as It Hosts Hormuz Summit
The UK and France will host a summit to discuss setting up a naval force that would ensure freedom of navigation in the Strait of Hormuz, as Europe seeks to rebut US claims that it’s not doing enough to secure …
POSTED APRIL 17, 2026 8:44 AM |
Spain’s Blackout Probe Blames Grid Operator, Government, Watchdog
An inquiry by the Spanish Senate blames the government, as well the country’s grid operator and energy watchdog, for last year’s unprecedented blackout, according to preliminary conclusions made public on Wednesday. The probe by the upper house – which is …
POSTED APRIL 17, 2026 6:05 AM |
Reinsurers Least Successful Acquirers in Industry M&A: Analysis
A recently released analysis of insurance carrier and reinsurer mergers and acquisitions finds that 75% of recent deals featuring reinsurers and multiline insurers as buyers destroyed value for shareholders. The report, “Carrier Mergers & Acquisitions: Drivers, Implications & Outcomes,” published …
POSTED APRIL 17, 2026 5:26 AM |
Nationwide: Consumers Say Insurance Should Evolve for Micromobility Vehicles
Almost all consumers agree that insurance policies should evolve to provide clearer coverage for micromobility vehicles on public roads, Nationwide shared in a new report. Nine in 10 respondents to a recent survey commissioned by the insurer held that view. …
POSTED APRIL 17, 2026 5:11 AM |
Mythos Poses Risk to SEC Market-Tracking Database, Group Says
Anthropic PBC’s new artificial intelligence model Mythos could put traders and the broader financial system at risk through a Securities and Exchange Commission database, the American Securities Association said Thursday. The financial-industry trade group warned of the potential for bad …
POSTED APRIL 17, 2026 5:06 AM |
UK Prepares for Food Shortages Caused by Iran War CO2 Crunch
The UK has drawn up plans to prepare for potential food disruption as the Iran conflict causes a drop-off in supplies of carbon dioxide used widely in the industry. In a “reasonable worst-case scenario,” officials don’t foresee aisles of empty …
POSTED APRIL 17, 2026 5:05 AM |
Bank of England Says it Is Testing AI Risks to Financial System
The Bank of England is testing the risks to the financial system caused by AI by conducting scenario analysis and simulations, the central bank said in a letter published by lawmakers on Thursday. The BoE said it disagreed with an …
POSTED APRIL 17, 2026 5:03 AM |
Viewpoint: Japan’s $550B Bet on America—What it Means for the US Insurance Market
Five hundred and fifty billion dollars. That is the figure at the center of the landmark strategic investment agreement the United States and Japan concluded on July 22, 2025. A commitment by Japan to direct capital into American industries on …
POSTED APRIL 17, 2026 5:03 AM |
Nord Stream Blasts Due to War, Say Insurers Seeking to Avoid Pay Out
The Nord Stream gas pipelines were attacked in 2022 as a direct result of Russia’s invasion of Ukraine, insurers told a London court on Thursday as they seek to avoid paying out nearly 580 million euros ($684 million) over blasts …
POSTED APRIL 17, 2026 5:01 AM |
Three Sentenced in Bear-Suit Attacks Insurance Fraud Case
An insurance fraud scheme involving a bear costume, luxury vehicles and falsified damage claims has ended in convictions for three Los Angeles area residents. A California Department of Insurance investigation began after an insurance company suspected fraud after insureds claimed …
POSTED APRIL 17, 2026 5:00 AM |