Insurance Journal News Feed

Insurance Journal news feed

1. Houston and Dallas Face Risk of Floods as Storms Sweep Texas

   Houston and Dallas face more flooding rains Friday as storms continue to sweep across the eastern third of Texas, where thousands are without power and hundreds of flights were canceled Thursday. Dallas Fort Worth International Airport reported 3.47 inches (9 …

2. Business Moves: Everest Completes Sale of Canadian Retail Operations to Wawanesa; Arthur J. Gallagher & Co. Buys New Zealand’s Albany Insurance Services

   Everest Group Ltd., the Bermuda-based specialty re/insurer, announced the completion of the previously announced sale of its Canadian retail Insurance operations, to Wawanesa Mutual Insurance Co. In connection with the Everest acquisition, Wawanesa launched a unit called “WSI,” which comprise …

3. Florida Insurance Agent Pleads Guilty in $300,000 Premium Finance Scheme

   A Florida insurance agent faces years in prison after he pleaded guilty to fraudulently arranging more than $300,000 in premium financing for fake companies, then diverting much of the money to his personal use. Daniel Raney, 41, who managed Raney …

4. US P/C Insurers See Fewer Ratings Downgrades in H1 2026 on Improved Performance

   The US property/casualty insurance segment saw substantially fewer ratings downgrades with more ratings upgrades in the first half of 2026 — mostly related to either poor or improved operating performance, according to AM Best. There were about half as many …

5. AI Tools Suspected in Korea’s Shinhan Bank Hack, Yonhap News Reports

   Advanced artificial intelligence tools may have been used in a cyberattack on South Korea’s Shinhan Bank Co. that exposed information on about 25,000 customers, Yonhap News reported, highlighting the risk of automated hacking against financial institutions. Attackers probably used sophisticated …