Content from Chad Hemenway
AIG’s Repositioning Affects Q2 Earnings; Underlying Underwriting Income Up 2%
The formal split of its life and retirement business Corebridge Financial resulted in a second quarter net loss of nearly $4 billion for American International Group (AIG). The deconsolidation and ...
Verisk’s PCS Classifies CrowdStrike Incident as a Cyber Catastrophe
Verisk's Property Claim Services unit confirmed reports it has designated the recent global information technology outage as a cyber catastrophe event. With the designation, PCS Global Cyber believes ...
Allstate’s National General Sued by DOJ Over Alleged Force-Placed Insurance ‘Scheme’
Allstate's National General auto insurance brand has been sued by the U.S. Department of Justice over allegations that National General and subsidiaries "engaged in a scheme to defraud customers" by ...
Chubb Q2 Net Income Up 24% to $2.2B
Chubb said second-quarter net income was up more than 24 percent to about $2.2 billion despite higher catastrophe losses than a year ago. Catastrophe losses for the second quarter were $580 million, ...
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 ...