Patricia Wells

South Korean officials have reported progress in battling the country’s largest forest fire on record. As of Friday, rain and improved weather conditions have helped contain the main fires, allowing more helicopters to take to the skies and drop water on the flames. The wildfires, fueled by strong winds and dry conditions, have claimed the … Read more

The Federal Trade Commission (FTC) is raising concerns about the future of personal data held by 23andMe, a company known for its ancestry testing services, which recently filed for bankruptcy. FTC Chairman Andrew Ferguson expressed these worries in a letter to the U.S. trustee overseeing the bankruptcy process, emphasizing that any buyer of 23andMe’s assets … Read more

RYZE Claim Solutions has made a significant move by acquiring Acorn Claims, a company based in Springfield, Missouri. Acorn Claims specializes in handling daily and catastrophe claims across the United States. This acquisition is part of RYZE’s ongoing strategy to grow and improve its claims management services. The deal strengthens RYZE’s position in the claims … Read more

A group of Italian fund managers announced on Friday that they will nominate four candidates for the new board of Generali, Italy’s largest insurer. This development adds to the uncertainty surrounding a crucial shareholder vote set for April 24. The shareholder conflict at Generali comes amid significant changes in the Italian finance sector. Mediobanca, the … Read more

Lockton has shared its latest insights on the U.S. property and casualty insurance market, focusing on directors and officers (D&O) liability insurance. Their report shows that the market remains mostly favorable for buyers, especially for public companies, which saw a significant drop in insurance rates. According to the Lockton Market Update, D&O insurance rates for … Read more

Recreational boating is a popular activity in the United States, with nearly 12 million registered vessels. Florida leads the way as the state with the most boats. Alongside these motorized vessels, millions of people also enjoy kayaking, canoeing, and sailing, with 18.6 million kayakers and 9.6 million canoers reported. While boating can be a fun … Read more

Bird flu has been found in a sheep in northern England, marking the first known case of this kind globally. The British government announced this development, raising concerns about the spread of the disease among mammals and the potential for a pandemic. The H5N1 bird flu virus has already caused deaths in various mammals worldwide, … Read more

AM Best has made a significant update regarding Westfield Insurance Company and its affiliates, now giving them a stable outlook for their Long-Term Issuer Credit Ratings. This change comes after a period of negative outlook and reflects improvements in the company’s financial health. Westfield, which is based in Westfield Center, Ohio, is a subsidiary of … Read more

Florida lawmakers are stepping up to address growing concerns about property insurance in the state. In early March, legislative leaders gathered in Tallahassee, responding to public pressure and media scrutiny. They committed to investigating the financial practices of property insurers, particularly their dealings with managing general agents (MGAs). House Speaker Danny Perez announced this investigation, … Read more

A Texas man has been sentenced to over 13 years in prison for his role in a large insurance fraud scheme that cost companies around $5 million. Jordan Ford, 32, was charged in June 2024 and pleaded guilty to conspiracy to commit wire fraud in September 2024. On Thursday, U.S. District Judge Mark Pittman sentenced … Read more