Chad Hemenway, Author at Carrier Management

Fired Root CMO Accused of Stealing Millions Spends ‘Lavishly’; Judge Appoints Receiver

According to court records, Root Inc's former chief marketing officer — accused of stealing about $10 million from the company — has not made court appearances, spent money in violation of ...

Pie Insurance CEO Tells Employees During All-Hands That 14% Are Being Let Go

Late last week InsurTech Pie Insurance held an all-hands meeting during which CEO John Swigart told employees that 14 percent of them — 66 in all are being laid ...

AIG to Sell Validus Re to RenRe in $3B Deal

American International Group (AIG) said late Monday it has entered into an agreement to sell Validus Re to RenaissanceRe Holdings for about $3 billion, mostly cash. The deal, expected to close during ...

Aon Sues Alliant Over ‘Unlawful Raid’ of Reinsurance Group

Aon this week filed a lawsuit against rival Alliant Insurance Services for an alleged "unlawful raid" of senior leaders and other employees of Aon's facultative ...

Low-Tech Cyber Attacks Took Advantage of Fixable Vulnerabilities in 2022: Coalition

Outdated technology, poor software maintenance, and the dreaded clicking of a malicious link were most to blame for cyber insurance claims experienced by policyholders in 2022, according to a new ...

AM Best: Current D&O Market Rates Could Prove Inadequate

Buyers of directors and officers liability may be getting a break from steep rate and price increases seen over the last several years, but insurance industry rating ...

Clients Buy Higher Limits as Q1 Cyber Increases Follow Moderation Trend: Marsh

For the fifth straight quarter, pricing increases for cyber insurance continued to fall at the start of 2023. According to a new U.S. Cyber Purchasing Trends report from broker Marsh, prices were up ...

AIG Records Strongest Q1 Underwriting Results in General Insurance

American International Group said first-quarter 2023 underwriting income in its general insurance segment was $502 million, "representing the strongest first-quarter ...

Chubb’s Greenberg: Start Questioning the Societal Benefits of Litigation Funding

Chubb CEO Evan Greenberg said society and the business community need to start asking questions regarding the purpose of third-party litigation funding, a major ...