GEICO was the only one of Berkshire Hathaway’s major property/casualty reporting divisions to post higher underwriting profit in the second quarter of 2025. But a 2% rise in underwriting profit for the personal auto insurance operation was not enough to …
Category: Insurance Journal
High Noon Recalls Vodka Seltzers Mislabeled as Energy Drinks
High Noon announced a recall of vodka seltzer drinks that it says were mislabeled as Celsius energy drinks, according to a posting on the U.S. Food and Drug Administration’s website. “Consumption of the liquid in these cans will result in …
No Major Impact Reported as Small Earthquake Shakes New Jersey-New York Area
A small earthquake rattled the New York metropolitan area Saturday night. The U.S. Geological Survey said the tremor had a magnitude of 3.0. It hit in the New Jersey suburb of Hasbrouck Heights, less than 8 miles (13 kilometers) west …
EU Court Rules Against Environmentalists Trying to Block Spanish Wind Farms
The European Court of Justice on Friday dealt a blow to environmental groups trying to stop wind farms from being built in Spain’s northwestern Galicia region, in a ruling affecting billions of euros of investment. Companies developing wind farms in …
South Africa Is Considering Flood Insurance for Large Cities
South Africa is studying whether some of its largest cities should take out flood insurance after a series of disasters in recent years led to bailouts from the government. The insurance being considered is parametric, a type of cover that …
UK’s FCA Says Lenders Face Minimum £9 Billion Bill on Car Loans
The UK’s Financial Conduct Authority will consult on a redress scheme to guide firms on how they should compensate motor finance customers that were missold car loans, which it estimates could leave such lenders on the hook for at least …
Why Submission Triage Is the Hidden Bottleneck in Your Underwriting Workflow
This post is part of a series sponsored by Expert Insured. Your underwriters want to quote-fast. But instead, they’re sifting through messy emails, chasing missing info, and trying to clean up broker submissions just to get started. That bottleneck? It’s …
People Moves: AAA – The Auto Club Group Adds to Executive Team
AAA – The Auto Club Group (ACG), headquartered in Dearborn, Michigan, added three senior leaders. Vincent Fusco joined ACG as executive vice president, chief distribution officer. Fusco will oversee insurance and direct sales, including those of Michigan-based insurance companies Meemic …
SEC Chair Lays Out Sweeping Plans to Accommodate Crypto
The head of the U.S. securities regulator unveiled sweeping plans to overhaul capital markets regulations on Thursday to accommodate cryptocurrencies and blockchain-based trading, in a major win for the digital asset industry, which has long pushed for tailored rules. Securities …
Tesla Must Pay $243 Million Over Fatal Autopilot Crash
Tesla Inc. was told to pay $243 million in a lawsuit over a 2019 Autopilot crash in Florida that killed a young woman and seriously injured her boyfriend, the first significant court loss for the automaker in litigation related to …