Content from Chad Hemenway
In Latest Salvo AIG Says Its Former Execs at Dellwood Are ‘Bad Leavers’
In its latest court filing to keep alive a lawsuit against start-up Dellwood Insurance, American International Group said its new competitor failed to explain why the suit cannot go on. AIG argued in ...
Main Street America Insurance Exits Personal Lines
Main Street America Insurance said Thursday it will stop offering personal lines insurance in favor of a commercial lines strategy. The Jacksonville, Fla.-based insurer founded about 100 years ago in ...
Q2 Commercial Insurance Prices Show Clear Evidence of Softening: CIAB
Commercial property/casualty premium increases in the second quarter 2024 were flat or down from the previous quarter for all lines of business—evidence of a softening insurance market, according ...
Guy Carpenter: ‘Kitty Cat’ CrowdStrike Outage to Cause $300M-$1B in Insured Losses
Due to the limited amount of impacted companies with insurance and the deployment of a quick fix to mitigate losses, Guy Carpenter said the insured losses from the CrowdStrike outage is likely ...
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, ...