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Porch Insurance Group announced it has entered into a definitive agreement to acquire Allied Trust’s insurance carrier and managing general agency. The acquisition is expected to add approximately $200 million of Reciprocal Written Premium and approximately $25 million of Adjusted …

XPT Specialty launched its Texas Homeowners Binding Authority program, which gives retail partners in-house authority to place homeowners and dwelling coverage. The program is designed for primary, secondary, seasonal and rental homes across Texas. Targeting well-maintained risks, the program offers …

An Oklahoma home improvement and design company will pay $150,000 to three former employees and provide other relief to settle a sexual harassment and retaliation lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced today. …

WTW appointed Darrel Beaton as director of underwriting within the company’s Insurance Consulting and Technology (ICT) business. WTW’s ICT business is a global leader in P/C, life, and health insurance software and advisory services. Beaton joins WTW from Effectus Insurance, …

Anthropic said small AI models could be months away from self-replicating across internet-connected devices, raising the possibility of AI botnets spreading quickly, fighting takedown attempts and even breaking into data centers to turbocharge their growth. Last month, Anthropic CEO Dario …

CVS Health has agreed to pay $315 million to resolve allegations that the pharmacy chain operator unlawfully filled medically unnecessary prescriptions for addictive opioid painkillers, the US Justice Department said on Oct. 13. The settlement resolves a case the department …

Lawyers on both sides of the insurance aisle will soon be able to say they are “board-certified” in insurance coverage law, after the Florida Supreme Court approved the new certification last week. The court made only minor changes to a …

New York City restaurants are running out of ways to outrun inflation. CakeBurgers, an East Harlem eatery that serves hamburgers and cakes shaped like hamburgers, turned off its air conditioning — even as temperatures in the city this summer routinely …

A new report looks into how to put more resources into prevention before a wildfire strikes, maintain resilience and direct new investment where it can deliver the greatest value using Napa, California as a case study. The Napa County wildfire …

Popular grocery stores owned by Ahold Delhaize in New England, MidAtlantic and Southeastern states are open but online orders and systems have been shut down after a cybersecurity incident. The Netherlands-based company said taking its website and apps offline is …

The Hartford on Oct. 13 said it completed its buy of Equitable’s employee benefits business to bolster the insurer’s growth in the small and midsized employer segment. The move will bring in about $500 million in premium in non-medical benefits, …

Edison International shares fell over 3% on Tuesday after short seller Muddy Waters said it had uncovered new information suggesting the utility acted with “conscious” or “willful” disregard in the Eaton Fire. Related: Southern California Edison Chief Warns Wildfire Impasse …

The Federal Aviation Administration told US airlines to exercise caution when flying to or over Saudi Arabia, citing safety threats tied to ongoing military activities and navigation system interference. The FAA Notice to Airmen, which lasts until December 10, follows …

Etude launched Etude Specialty Insurance Company, a technology-driven excess and surplus lines carrier for commercial property and casualty. Etude Specialty is domiciled in Nebraska, has more than $100 million of surplus, and will write in all 50 states. Etude also …

Iranian attacks on ships crossing the Strait of Hormuz have surged, potentially threatening the recent recovery in Persian Gulf oil exports. People working in the shipping industry said there were signs that the flow of cargoes through the waterway may …

Chicago-based RT Specialty and Ryan Alternative Risk, the wholesale brokerage and alternative risk divisions of Ryan Specialty, have expanded RT FLEX, a proprietary follow-line facility that gives RT Specialty brokers access to additional capacity across a broad range of specialty …

SpaceX is proposing to increase the number of Starship launches and landings it conducts out of its Starbase facility in South Texas to hundreds of flights each year, a plan currently being reviewed by the US government. The US Federal …

New company Harbor said it has emerged from stealth to help with the risks of deploying AI agents. San Francisco-based Harbor starts with $10 million in seed funding from Base10 Partners, Abstract and 8VC. Harbor said it helps companies measure …

A Las Vegas business owner pleaded guilty to arranging a fake armed robbery of his cellphone repair store to collect an insurance payout. Erwin Lanada, owner of CPR Cellphone Repair, pleaded guilty to one count of mail fraud. According to …

Tesla Inc. is facing scrutiny from US auto-safety regulators over whether its driverless taxis exceed posted speed limits near schools, a new hurdle for the automaker’s slow-growing robotaxi service. The National Highway Traffic Safety Administration said it’s evaluating the claim …