Patricia Wells

The California Department of Insurance (CDI) has given the green light to the state’s first wildfire catastrophe model, signaling a big change in how property insurance rates will be set. Developed by Verisk’s Extreme Event Solutions, this new tool helps insurers assess wildfire risks more accurately as part of California’s effort to fix its growing … Read more

For many homeowners, sudden big jumps in insurance premiums are a tough pill to swallow. When extreme weather events like hailstorms or wildfires hit hard, insurance companies often raise rates sharply to cover those costs. This kind of rate shock can leave customers feeling frustrated and blindsided. It also puts insurers under pressure from regulators … Read more

Tesla is facing a tough stretch in California, with its new car registrations dropping for the seventh straight quarter. A recent report from the California New Car Dealers Association shows that Tesla registrations fell by 18.3% in the first half of 2025 compared to the same period last year. This decline also caused Tesla’s market … Read more

The U.S. Environmental Protection Agency (EPA) is preparing to reverse a key scientific finding that has been the backbone of the country’s climate rules for over a decade. Sources close to the matter told Reuters the agency plans to undo its 2009 conclusion that greenhouse gases pose a threat to public health. This move would … Read more

Illinois Attorney General Kwame Raoul’s office has reached a $600,000 settlement with Wonolo Inc., a staffing company accused of misclassifying workers who found temporary jobs through its online platform. The agreement addresses claims that Wonolo treated many workers as independent contractors instead of employees and failed to pay them properly. The investigation found that workers … Read more

North Carolina is stepping up efforts to protect coastal homes from hurricane damage by boosting its roof upgrade grant program. The state’s residual property insurance association is adding $20 million to the initiative, offering $6,000 grants to homeowners who install stronger, wind-resistant roofs that meet the FORTIFIED standard. The move builds on a program launched … Read more

Changes to taxes on litigation investors were left out of the final version of the large One Big Beautiful Bill, but the spotlight on third-party litigation funding (TPLF) remains bright among some lawmakers in Washington. On July 22, Representative Darrell Issa, a Republican from California and chairman of the House Subcommittee on Courts, Intellectual Property, … Read more

Arizona Governor Katie Hobbs took a somber aerial tour of the wildfire damage along the Grand Canyon’s North Rim on Saturday. The Democratic leader witnessed the blackened landscape and the ruins of the Grand Canyon Lodge, a nearly 100-year-old structure, which was mostly reduced to a bare frame. Thick plumes of white smoke still rose … Read more

AM Best has downgraded the outlook for Society Insurance, a mutual company based in Fond du Lac, Wisconsin, shifting it from stable to negative. At the same time, the credit rating agency confirmed the company’s strong Financial Strength Rating of A- and Long-Term Issuer Credit Rating of “a-,” both considered excellent. This change comes after … Read more

Coverys, a Boston-based insurer known for medical professional liability coverage, has agreed to sell its Italian managing general agent, AEC Agenzia di Assicurazione e Riassicurazione SpA (AEC), to Italy’s Edge Group, a prominent insurance brokerage platform. The financial terms of the deal were not disclosed. AEC has been a key player in the Italian insurance … Read more