As many as 10–30% of employers misclassify workers at an enormous cost to both workers and social insurance systems. New analysis from the National Employment Law Project, focusing on state-level reports on employee misclassification, estimates that social insurance systems can …

KBRA, the Kroll Bond Rating Agency, has assigned a BBB issuer rating to Universal Insurance Holdings, along with a BBB credit rating, ahead of the Florida insurance holding company’s refinance of $100 million in unsecured notes. The ratings are slightly …

Berkshire Hathaway reported improved first-quarter performance from the conglomerate’s insurance businesses, but CEO Greg Abel told investors the sector faces competitive headwinds. “The reality is that … as our insurance business softens, we cannot realize the value we should for …

Under a bill poised to win approval in the South Carolina legislature, the decades-old practice of letting many drivers automatically enjoy relatively painless windshield replacements may soon disappear. House Bill 4817, titled the “Insurance Rate Reduction and Policy Holder Protection …

Denver, Colorado-based Rachel McCarter joined Alliant Insurance Services as vice president within its employee benefits group. In this role, she will partner develop and implement benefits services designed to drive value and enhance employee engagement. McCarter has worked with clients …

New York City Mayor Zohran Mamdani is delaying the city’s $127 billion budget as he pressures the state to limit a tax credit used by hedge funds, private equity firms and other businesses. Mamdani and City Council Speaker Julie Menin …

Rhode Island Governor Dan McKee announced that the state has finalized a settlement agreement with Deloitte Consulting LLP related to the December 2024 cybersecurity incident that shuttered the state’s benefits administration site, RIBridges. In February 2025, Deloitte, the services provider …

Leslie Clark isn’t counting on money from the Maui wildfire settlement to help rebuild her family home near Front Street in Lahaina. Worrying about something out of her control “is not good for your health,” said Clark, 62, who lost …

Inszone Insurance Services announced the acquisition of Mena Insurance Agency, Inc. This strategic acquisition brings a century-old institution and an experienced team into the Inszone organization, further expanding its footprint in Arkansas. Founded in 1911 by H.G. McLafferty, Mena Insurance …

In a rare crossing of insurance lines, Alabama-based Protective Life Insurance Co. is moving to expand into property/casualty lines by acquiring Obsidian Insurance Holdings, Inc., a New York-based property, casualty and specialty insurance platform. The companies say the acquisition will …

Former Florida governor and U.S. Rep. Charlie Crist is seeking yet another office, this time running for mayor of his hometown of St. Petersburg. Crist, 69, has been a Republican, a Democrat and an independent during his political career. He …

Commodity trader Mercuria is suing the Baltic Exchange, the world’s top provider of benchmark shipping indices, over losses it said were caused by oil tanker pricing data that did not account for the effective closure of the Strait of Hormuz, …

An arraignment has been rescheduled for a former sheriff’s detective in Tennessee who is charged with setting fire to his own vehicle and filing a fraudulent insurance claim. Daniel Lee Garrett, 44, who until recently was with the Scott County …

The U.S. House of Representatives on Thursday passed its version of a five-year farm bill after stripping a provision opposed by the “Make America Healthy Again” movement that would have blocked some lawsuits against pesticide makers. The House passage shows …

The U.S. Food and Drug Administration on April 29 said tested samples of infant formula available in the country contained very low levels of contaminants, confirming that the nation’s supply is safe for consumption. The agency tested more than 300 …

Trucordia reported it has acquired Paradiso Financial and Insurance Services in Stafford Springs, Connecticut. Paradiso offers auto, home, life, business and specialty lines insurance. Joining Trucordia will give Paradiso’s team and clients access to more carrier relationships, shared resources, and …

Prosecutors said the man they charged with starting the deadly 2025 Palisades Fire in Los Angeles was upset about a failed relationship and not having New Year’s Eve plans just before he set a small blaze which rekindled six days …

A review of five years’ of proprietary claims data revealed just how vulnerable manufacturers are to cyberattacks and the high cost of disruptions, according to Resilience, which found more than 90% of total incurred losses in its manufacturing portfolio were …

New Hampshire Governor Kelly Ayotte recently signed into law an increase in the penalty for drivers who refused a breath alcohol test when stopped on suspicion of driving under the influence (DUI). Senate Bill 620 increases the administrative license suspension …

This edition of International People Moves details appointments at Howden Re and Zurich Insurance Group. A summary of these new hires follows here. Howden Re Expands Cyber Reinsurance Team With 5 New Hires Howden Re, the global reinsurance, capital markets …