Content from Chad Hemenway
AIG Continues to Take Cautious Approach to Excess D&O in North America
Though American International Group (AIG) saw a turnaround in underwriting income in the third quarter, driven largely by business in North America, the company's chief ...
Allstate Shows ‘Progress,’ Narrows Q3 Net Income Loss to $41M
Allstate Corp. said its net loss for the third quarter was $41 million compared to a loss of $685 million during the same time a year ago.
AIG General Insurance Income Up 82.7% in Q3 on North America Gains
American International Group (AIG) during the third quarter recorded a 264 percent increase in underwriting income within its General Insurance segment to $611 million as ...
American Family Shuts Down Some Systems to Investigate ‘Unusual Activity’
American Family Insurance shut down "several business systems" after the insurer said it "detected unusual activity in a portion of its network."
GEICO Lays Off 6% of Workforce; Will Require More In-Office Time
In a letter to employees, GEICO president and chief executive officer Todd Combs said the Berkshire Hathaway company is laying off 2,000 associates, or about 6 percent of the workforce. "This will ...
American Family Insurance Confirms Staff Reductions
American Family has confirmed recent reports of layoffs, saying that it is "working to increase efficiency and manage costs" across its five insurance companies. The insurer did not provide specifics ...
Commercial Auto Insurers Face Bleak Profit Outlook
Underwriting losses in U.S. commercial auto have returned to pre-pandemic levels and rate increases have not been enough to keep up with severity trends. "The liability component has been more ...
Reforms Needed for ‘Dark Money’ Third-Party Litigation Funding: APCIA
In support of recent efforts at the state and federal levels of government to curtail third-party litigation funding, the American Property Casualty Insurance Association has asked the House ...
Judge in $6B 3M Settlement Issues Order to Stop Litigation Funding
A federal judge has barred attorneys and claimants involved in 3M's $6 billion settlement with U.S. military service members from any third-party litigation funding agreements. District Judge M. ...