Articles
‘Baseless claims’: PacLife hits back at Kyle Busch in motion to dismiss suit
Pacific Life Insurance Co. responded Thursday to racing superstar Kyle Busch’s indexed universal life lawsuit, filing more than 1,000 pages worth of exhibits in a motion to dismiss. PacLife cited failure to state a claim, a common defense from insurers who maintain no wrongdoing. Busch, who initially filed the lawsuit in North Carolina state court […]
Winter Storm Fern comes with billion-dollar threat to property insurers
Winter Storm Fern is gathering power and set to unleash potentially billions in property damage and devastation across middle America. The weekend storm is forecast to impact nearly 75 to 150 million people across a 700,000-square-mile area from the Southern Plains to the Northeast. Beginning with rain Friday across Texas and Oklahoma, creating potentially lethal […]
Insurance industry is healthy but uncertain in 2026
The insurance industry in 2026 is healthy but not without uncertainty. That was the word from Sean Vicente, U.S. sector leader, insurance, with KPMG, who presented the organization’s 2026 insurance industry outlook at a recent webinar. “We believe 2026 will be an interesting year and an important confluence for our industry. Few industries have more […]
Conn. Insurance Dept. answers questions on PHL Variable’s $2.2B plight
Connecticut regulators are moving toward liquidation proceedings for PHL Variable Insurance Co., as the company faces a $2.2 billion shortfall. Connecticut insurance commissioner Andrew Mais, who led an 18-month attempt to financially salvage PHL Variable, resigned suddenly with the finish line in sight. New interim Commissioner Joshua Hershman quickly pivoted to liquidation. The Connecticut Insurance […]