South Africa’s central bank plans to expand its examination of climate risk to the insurance industry, as it seeks to anticipate threats that can do far-reaching economic harm. “This year we put out our first climate-risk scenario, common stress test, …
Category: Insurance Journal
Extreme Weather Is Stress-Testing India’s Infrastructure Drive
Indian monsoons this year — the earliest onset since 2009 — damaged new public infrastructure across the country, putting pressure on Prime Minister Narendra Modi’s push for an infrastructure upgrade in the world’s fifth-largest economy. A recently inaugurated underground metro …
Chinese Hackers, User Lapses Turn Smartphones Into a ‘Mobile Security Crisis’
Cybersecurity investigators noticed a highly unusual software crash — it was affecting a small number of smartphones belonging to people who worked in government, politics, tech and journalism. The crashes, which began late last year and carried into 2025, were …
UK’s Visa Crackdown Leaves City of London Immigrants in Limbo
One banker in the City of London is faced with paying an extra £40,000 a year in university fees for his children. Nursing homes are worried about finding enough caretakers for residents. The insurance industry says overseas relocations have now …
US DOT Declares Fuel Economy Rules Exceeded Legal Authority
The Transportation Department paved the way for looser U.S fuel economy standards on Friday by declaring that former President Joe Biden’s administration exceeded its authority by assuming high uptake of electric vehicles in calculating rules. The department made the declaration …
A Deep Dive: Recommendations on Georgia’s Rising Premiums, Loss Ratios
Homeowners’ insurance premium in Georgia costs less than in other states. Neither affordability nor availability have been major concerns in a state with hundreds of licensed insurers. But things changed in 2023-2024 when Hurricanes Idalia, Helene, and Milton struck the …
Companies Delay Impact Reports With DEI, ESG Under Attack
It was just over a year ago when Nike Inc.’s then-CEO, John Donahoe, trumpeted a flashy 90-second video, hyping a report about the company’s efforts to improve diversity and equality. The report, he said in a LinkedIn post, is “a …
Jury Awards California Prosecutor $3M After She Says She Was Forced From Position
A jury in California awarded more than $3 million in damages to a former Orange County prosecutor who alleged the county’s district attorney targeted her and forced her out of her position after she tried to protect women in the …
Hub International Acquires Wycoff Insurance Agency in Washington
Hub International Ltd. acquired the assets of Wycoff Insurance Agency Inc. in Mount Vernon, Washington. Wycoff Insurance will be referred to as Wycoff Insurance Agency, a Hub International company. Chris Eisses, president, Donnie Keltz, vice president, secretary and treasurer, and …
Homeowners Suing USAA and AAA Insurers Over LA Wildfires
Some homeowners who lost their homes in the Los Angeles wildfires have filed lawsuits against three large insurers over claims payouts they say didn’t cover their losses. The lawsuits were filed in Los Angeles County Superior Court this week. They …