Government’s SVB Intervention Saved Insurers From Significant D&O Claims
Had the federal government not stepped in to make Silicon Valley Bank (SVB) depositors whole, providers of directors and officers insurance for startups and venture ...
Content from Chad Hemenway
Silicon Valley Bank Parent SVB Financial Group Faces First Securities Class Action
Silicon Valley Bank (SVB) on Monday was hit with what appears to be the first federal securities class-action lawsuit against it, carrying allegations that the bank made ...
Root Inc. Says CFO ‘Terminated for Cause’
About one year into his employment with Root Inc. and a week after he helped the company report fourth-quarter earnings, Chief Financial Officer Robert Bateman has been fired for violating company ...
Commercial Insurance Price Increases Stay Level, But Clients Still Worried: CIAB
"Stabilization" and "moderation" continued to be the operative words for premium increases in the commercial property/casualty market, but many clients remain concerned ...
Insurers’ Digital Claims Tools Failing Customers: J.D. Power
Calling the trend "worrying," J.D. Power's new property claims satisfaction report indicated that insurers' digital tools to speed the claims process are not pleasing ...
Root Books Another Loss; Stays Positive on Embedded Insurance
Calling embedded insurance the "next secular trend in distribution," Root Inc. CEO Alex Timm in a letter to shareholders said the company has an advantage to scale access in the channel and become ...
Root Granted Restraining Order Against Former CMO it Says Stole About $10M
A U.S. district judge has granted a motion for a temporary restraining order requested by Root Inc. against its former chief marketing officer to prevent him, his ...
AIG Sees Q4 Profit Fall but General Insurance Underwriting Jumps 27%
Fourth-quarter 2022 net income attributable to American International Group common shareholders fell to $264 million from about $3.7 billion the year prior, but the ...
Actions vs. Talk: Is the Insurance Industry Coming Through on DEI Commitments?
Though the last five years have included events — specifically the murder of George Floyd — that prompted many company leaders to make commitments to diversity, ...
Root Sues Former CMO Over at Least $9.4M in Unauthorized Payments
Root Inc., the parent company of Root Insurance, has followed up its investigation into almost $10 million of unauthorized payments with a lawsuit against its former ...