Content from Chad Hemenway
Trigger Warning: Cyber Policy Wordings to Impact Coverage for Tech Outage
Industry stakeholders continue to try to get a grasp of the implications from last week's massive technology outage affecting motley industries around the world, but the theme of policy language is ...
State Farm Seeks Large California Rate Hikes; CDI To Probe Financial State
State Farm has applied for large rate increases in California, a year after the carrier got rate approvals of 7 percent and 20 percent—adding fuel to a burning homeowners crisis in a state that's ...
Berkshire, Starr in Top Cyber Ranking; Global Outlook Stable: AM Best
According to industry rating agency AM Best, there are enough positive factors to give the cyber insurance market a 'stable' outlook despite a stall in premium growth. Analysts at AM Best issued a ...
Zurich to Buy AIG’s Travel Insurance Business for $600 Million
Zurich early Wednesday said it is purchasing the global personal travel insurance business of American International Group (AIG) for $600 million. The deal, according to Zurich, may include an ...
Allstate Reports May Pretax Catastrophe Losses of $1.4B
Allstate Corp. on Thursday reported May pretax catastrophe losses of about $1.4 billion. The Northbrook, Illinois-based insurer said 14 events contributed to nearly $1.5 billion in catastrophe losses ...
Nuclear Verdicts’ Amount, Frequency Continue to Increase: U.S. Chamber of Commerce
A recent report from The U.S. Chamber of Commerce Institute for Legal Reform (ILR) has found that nuclear verdicts of $10 million or more are on the rise. Looking at verdicts from 2013 to 2022, ILR ...
After First Net Loss Since 1923, USAA Back to Profit in 2023
USAA on Friday said it recorded net income for 2023 of about $1.2 billion, reversing a 2022 loss—the first for the company since 1923—of about $1.3 billion. The San Antonio, Texas-based ...
AIG Drops Claims Against Former Execs Who Started E&S Insurer Dellwood
American International Group and a group of its excess and surplus lines subsidiaries have dropped claims against three former AIG executives who launched Dellwood Insurance Group but its claims ...