San Francisco House Prices Hit Record $2.15 Million on AI Boom
San Francisco’s median home price surged to a record $2.15 million in March, an 18% year‑over‑year increase, driven by wealth from AI startups such as OpenAI and Anthropic. Condo prices jumped 27% to $1.36 million, nearing the April 2022 peak. The market saw 22 single‑family homes sell above $5 million and 24 condos exceed $3 million, setting new monthly highs. This price escalation starkly contrasts with a modest 0.8% rise in U.S. home values overall.
Jones Day Law Firm Says Hackers Accessed Some Clients’ Data
Jones Day disclosed that the cyber‑criminal group Silent breached its network, accessing dated files for ten clients. The intrusion stemmed from a phishing attack, and the firm confirmed that all impacted clients have been notified. Hackers also exfiltrated internal data...
Reinsurance Rates Continued Softening During April Renewals, Despite Iran War
Reinsurance rates kept softening in the April 1 renewals across Japan, Korea, India and some U.S. cedents, despite the Iran‑Israel conflict. Brokers attribute the trend to low natural‑catastrophe losses, robust reinsurer balance sheets and abundant capacity. Global reinsurance capital rose to...
Mississippi Lawmakers Revive Wind-Mitigation Program with $15,000 Grants
Mississippi lawmakers have passed Senate Bill 2049, reviving a two‑decade‑old wind‑mitigation retrofit plan and creating the Strengthen Mississippi Homes Program. The program will award grants of up to $15,000 to homeowners for measures such as FORTIFIED‑rated roofs, funded primarily by...
Georgia Boards Owe $3M to Military Spouses With Out-of-State Licenses
The U.S. Department of Justice announced a $3 million settlement with Georgia, compensating roughly 5,000 military service members and spouses whose out‑of‑state professional licenses were denied. The settlement stems from violations of the Servicemembers Civil Relief Act by 42 Georgia licensing...
Texas Woman Loses Wrongful Arrest Lawsuit in Controversial Abortion Case
A federal judge in South Texas dismissed a $1 million wrongful‑arrest lawsuit filed by Lizelle Gonzalez, who was briefly jailed after prosecutors charged her with murder for a self‑induced abortion. The court ruled that the district attorney and sheriff were protected...
Fleet Lender Pays $1.64M to California to Settle False Claims Allegations
Crossroads Equipment Lease and Finance agreed to pay $1.64 million to settle California Attorney General claims that it misused the state’s Capital Access Program (CalCAP). The state alleged the lender deliberately undervalued repossessed trucks sold under CalCAP, counting on guaranteed reimbursements...
Dei Primus Holdings Launches LUCY, a Fully Autonomous Insurance Carrier
Dei Primus Holdings has launched LUCY Insurance, the first fully autonomous U.S. property‑casualty carrier. Built on a massive archive of claims and underwriting data from a distressed insurer, the AI‑driven platform handles underwriting, quoting, claims adjudication and payment without human intervention, except...
NAIC Issues Nationwide Data Call to Homeowners Insurers
The National Association of Insurance Commissioners (NAIC) has issued a nationwide data call to U.S. homeowners insurers, requiring ZIP‑code level information for policy years 2018‑2025. The request applies to carriers with at least $50,000 in relevant premium and covers policy...
US IPO Prospects in Limbo as War Dents Optimism Ahead of SpaceX
US IPO market faces headwinds as the Iran conflict and AI concerns dampen investor confidence. Banks remain optimistic that a potential SpaceX listing, targeting up to $75 billion, could dominate the year’s deal flow. Early 2026 Q1 saw the strongest IPO...
Farmers Insurance Plans Historic, Rapid Expansion of Agency Force
Farmers Insurance announced a historic recruitment drive to add nearly 1,700 new agency owners within a year, marking its largest single‑year expansion. The initiative includes an Elite Owner Program that targets high‑net‑worth entrepreneurs with at least $500,000 in capital, offering...
Texas Pizza Hut Franchise to Pay $35K in Harassment Suit
Ayvaz Pizza, LLC, the Texas franchise operating over 350 Pizza Hut locations, agreed to pay $35,000 and implement corrective measures to settle an EEOC sex‑harassment and retaliation lawsuit. The case stemmed from a former assistant manager who reported a hostile...
Illinois Hospital Sued Over Vaccine Mandate
The U.S. Equal Employment Opportunity Commission sued Silver Cross Hospital for refusing a religious accommodation request from a surgical technologist who declined the COVID‑19 vaccine. The employee asked for an exemption in August 2021; the hospital denied the request and terminated...
Albany Diocese Reaches $148 Million Agreement With Abuse Survivors Committee
The Roman Catholic Diocese of Albany agreed to fund a $148 million settlement for clergy‑abuse claims, pending approval by the U.S. Bankruptcy Court and a survivor vote. The 126 parishes will contribute $50 million, while the diocese and its affiliates cover the...
People Moves: WTW Makes Structural, Leadership Changes to EMEA Regional Operations; Carpenter Taps FloodFlash’s Bartholomew as Head of Parametric Advisory
WTW announced a major restructuring of its EMEA Insurance Consulting and Technology business, creating dedicated P&C and Life units and appointing Tim Rourke and Michael Klüttgens as regional leaders. Tammy Richardson will now oversee the firm’s AI transformation across the...
People Moves: Marsh Risk Names Zafiriadis to Lead New Service Delivery Practice
Marsh Risk has appointed Katrina Zafiriadis to lead its newly established Service Delivery Practice for the U.S. and Canada. Zafiriadis, who brings two decades of service delivery and operational resilience experience, previously served as chief of staff to Marsh Risk...
US Senate Votes to Fund Most of Homeland Security After Shutdown Disrupts Airports
The U.S. Senate approved a bill to fund most of the Department of Homeland Security, paving the way to end the partial government shutdown that crippled airport security. The legislation, passed by voice vote, excludes funding for ICE and Border...
Fidelity Beats Lawsuit Over Fees in $439 Billion Money Market Fund
A federal judge in Manhattan dismissed a lawsuit accusing Fidelity of keeping retail investors in higher‑cost share classes within its $439.1 billion Government Money Market Fund. Plaintiffs claimed the firm failed to automatically shift balances over $100,000 (or $10,000 in retirement...
Georgia Could Become First State With Weapons Detection in All Public Schools
Georgia lawmakers are close to passing a bill that would require daily weapons detection scans for every student entering a public school. The technology combines camera analytics with metal‑detector fields to spot guns and knives, and costs upwards of $10,000...
Housing Finance Chief Pulte Makes Insurance Fraud Allegations Against NY AG James
Federal Housing Finance Agency Director Bill Pulte wrote letters to the Justice Department urging new fraud investigations into New York Attorney General Letitia James, alleging she misrepresented occupancy on homeowner‑insurance applications. The referrals were sent to U.S. attorneys in Florida...
Tech Update: Renaissance Unveils AI Upgrade to Its Member Platform
Renaissance, an independent agency network, launched a major AI‑enabled upgrade to its member platform, branding it the only fully integrated AI ecosystem for independent agencies. The redesign unifies data, workflows, carrier partnerships and growth services into a single, role‑based interface...
NY Lawmakers Urged to Have Faith in Auto Insurance Reform Numbers. But Do They?
Governor Kathy Hochul has unveiled a package of auto‑insurance reforms aimed at lowering New York drivers’ premiums by cracking down on staged‑accident fraud, curbing excessive litigation and limiting insurer profit margins. The proposals, which include new criminal liability for fraud,...
Register: Risky Future AI Tools for Better Billing & Payments ‘Demo Day’ on March 25
Insurance Journal’s Risky Future series is hosting a free online Demo Day on March 25 to showcase AI‑driven billing, premium‑finance and payment platforms for insurers, agencies and MGAs. The event runs at 1 p.m. ET and features 15‑ to 20‑minute demonstrations from...
Oklahoma Insurance Producer Has License Revoked Following Investigation
On March 20, 2026, the Oklahoma Insurance Department revoked the license of Leslie Clark, a Stigler‑based insurance producer, and levied a $2,000 fine after an anti‑fraud investigation uncovered misappropriation of premium payments. Clark failed to appear at a Feb. 11 show‑cause...
Texas Takes Over Permitting for Carbon Storage Projects
The Texas Railroad Commission secured EPA approval to issue Class VI carbon‑storage permits, shifting authority from the federal level to the state. This primacy is intended to streamline applications, with a $50,000 filing fee, an annual $50,000 idle‑well charge, and a...
Inszone Acquires Ohio Valley Insurance
Inszone Insurance Services announced the acquisition of Ohio Valley Insurance, a Midwest agency known for agricultural and crop coverage. Ohio Valley, founded in 2003 and rebranded in 2014, will retain its team and leadership under the new ownership. The deal...
Hippo, Progressive Embark on Strategic Distribution Relationship
Insurtech Hippo has integrated its homeowners insurance into Progressive’s HomeQuote Explorer, reaching consumers online and through Progressive’s in‑house agents in eight states. The partnership, which began earlier this year via Progressive Advantage Agency, gives Hippo access to Progressive’s extensive distribution...
US Allies See No Way of Opening Hormuz Strait During War
European naval powers, led by the UK and France, say reopening the Strait of Hormuz for commercial shipping is impossible while the Iran‑Israel conflict continues. They reject President Trump’s calls for immediate warship deployments, citing the need for a complex,...
Publix Not Liable in ‘Unforeseeable’ 2021 Supermarket Shooting, Florida Court Says
A Florida appeals court ruled that Publix Supermarkets had no legal duty to protect shoppers from an unforeseeable 2021 shooting, upholding a summary‑judgment ruling for the retailer. The court emphasized that liability hinges on the foreseeability of an attack, and...
NYC Eyes Ending Legal Support For Ex-Mayor Adams in Sexual Assault Lawsuit
New York City’s corporation counsel filed a motion to withdraw city‑funded legal representation for former mayor Eric Adams in a sexual‑assault lawsuit alleging misconduct in 1993. The city argues Adams was not acting within the scope of his municipal employment...
About to Take Off?: Legal Fights Emerge Over Toxic Fumes on Flights
Toxic fume events on commercial aircraft have surged, with the Wall Street Journal noting a sharp rise in reported incidents over the last decade. Plaintiffs are now suing manufacturers and airlines, highlighted by a $40 million lawsuit against Boeing after a...
2,400 Kaiser Mental Health Professionals Strike in California Over AI Concerns
Around 2,400 Kaiser Permanente mental‑health clinicians walked off the job in Northern California, protesting what they describe as a looming shift toward artificial‑intelligence‑driven therapy. The strike coincided with a one‑day walkout by more than 23,000 Kaiser nurses, highlighting broader workforce...
Illinois Commercial Bakery Cited for Worker Safety Violations
The U.S. Department of Labor’s OSHA has cited Chicago‑based Alpha Baking Co. Inc. for multiple safety violations after a worker broke his arm clearing dough from a machine. The citations include repeat lockout‑tagout failures, unguarded equipment, and lack of electrical...
DUAL North America Names Ashby CEO
DUAL Group announced Ed Ashby as chief executive officer of DUAL North America, effective March 23. Ashby, formerly chief commercial officer at Axis and a veteran of QBE, brings three decades of U.S. insurance experience. He will report to DUAL Group...
Howden Announces Leadership Changes for Regional Restructuring
Howden announced a series of senior appointments and regional realignments effective April 1, positioning Mike Parrish as CEO of the Americas and Sonia Caamaño as CEO of Latin America and the Caribbean. The International Growth Markets (IGM) unit, which has posted 16%...
Facing Suit From Former Employer, Parrish Appointed Howden CEO, Americas
Howden appointed Michael Parrish as CEO of its Americas division, merging its U.S. retail broking operations with a fast‑growing Latin American platform. Parrish, a former Marsh Florida zone head with a 19‑year Aon background, will report to David Howden and...
‘Zombie’ Second Mortgages Spur New Battles in California, Maryland
State lawmakers in Maryland and California are confronting “zombie” second mortgages—old loans sold to collectors that can trigger foreclosures despite statutes of limitations. While Maryland’s consumer‑protection bill passed the House unanimously, it stalled in the Senate after aggressive lobbying from...
EPA Moves to Weaken Pollution Limits on Ethylene Oxide
The EPA announced a proposal to roll back the 2024 Biden‑era rule that cut ethylene oxide emissions from medical sterilization facilities by roughly 90%. The agency argues the stricter limits threaten the domestic supply of essential medical devices, prompting a...
AM Best Revises Outlooks to Stable for Farmers Mutual Fire
AM Best upgraded Farmers Mutual Fire Insurance's outlook to stable from negative and reaffirmed its A (Excellent) financial strength rating and "a" long‑term issuer credit rating. The agency highlighted the insurer's very strong balance sheet, sub‑95 combined ratios in 2024...
‘Nation’s First’ Smoke Damage Standards Bill Wending Through California Legislature
The Smoke Damage Recovery Act (AB 1795) is moving through the California Legislature to establish a statewide framework for evaluating and remediating wildfire smoke damage in homes. Prompted by the 2025 Los Angeles fires, which generated over 42,000 insurance claims—including 13,000 smoke‑damage...
Insurers Under Allstate Group File Louisiana Rate Decreases for Personal Auto
Louisiana regulators announced that three Allstate‑group insurers filed personal‑auto rate cuts in March 2026. Imperial Fire & Casualty reduced its Value Product by 6% for about 41,000 high‑risk drivers, IFAC lowered its Mid‑Market premiums 2.9% covering 32,000 policyholders, and Allstate...
Kentucky Launches $5 Million Roof Grant Program
Kentucky has launched the Strengthen Kentucky Homes program, a $5 million grant initiative aimed at reinforcing residential roofs to the FORTIFIED standard. Authorized by House Bill 256, the scheme offers up to $10,000 per household and has already attracted more than 150...
Only 3 in 10 Americans Review Insurance Annually, Says Big I Survey
A recent Big I survey reveals that only three in ten Americans review or shop for insurance each year, despite nine‑in‑ten rating insurance as important or somewhat important. Most policyholders act reactively, waiting for premium increases or major life events before...
Markets/Coverages: Coalition Provides Expended Cyber Protection in Canada
Coalition, a San Francisco‑based cyber insurer, launched its Active Cyber Policy in Canada, expanding coverage to address ransomware, AI‑enabled fraud and heightened regulatory scrutiny. The policy bundles popular endorsements, offers optional separate limits for breach response, and introduces financial incentives for...
Top Africa Insurer Sanlam Flags ‘Massive’ Risks From Iran War
Sanlam Ltd., Africa's largest insurer, warned that the protracted Iran war poses massive risks to its performance across 27 countries. The conflict is driving higher fuel prices, inflationary pressure and rising borrowing costs, which the CEO said will curb new...
Prices for New Cars Have Soared. Here’s One Big Reason Why
New‑car prices in the United States have surged to an average of about $47,000, a 40 % increase since 2018, as manufacturers prioritize larger, higher‑margin SUVs and trucks over entry‑level models. The number of budget‑friendly models priced near $20,000 has slipped...
Former Michigan Linebackers Coach Sues University Over Firing
Former Michigan linebackers coach Chris Partridge filed a federal lawsuit alleging wrongful termination and a violation of his Fourteenth Amendment due‑process rights after being dismissed during an NCAA sign‑stealing investigation. The suit targets the university, its board of regents and...
Coast Guard and First Responders Battle Fire on Scrap Metal Barge in Delaware Bay
A scrap‑metal barge caught fire in Delaware Bay on March 11, 2026, prompting a multi‑agency response. The U.S. Coast Guard moved the vessel to shallow water and towed it two miles off Maurice River Cove to protect the main ship channel. A...
CRC Group CEO on Casualty: ‘It’s More About the Coverage’ Than Price
CRC Group CEO Dave Obenauer told Zywave’s Casualty Insights Conference that insurers should prioritize coverage over price, especially as AI and data analytics reshape underwriting. He noted that while casualty rates have moderated, loss trends driven by large settlements and...
Fund Trying to Turn New Mexico Desert Into an Advanced Tech Hub
New Mexico's sovereign wealth fund is backing a $1 billion Pacific Fusion project to build a desert‑based fusion research facility, while also pouring hundreds of millions into venture funds targeting defense and advanced tech. The fund’s revamped private‑equity program has posted...