Content from Chad Hemenway
Farmers CEO Reverses Course to Require Hybrid Work Schedule for Employees
New Farmers Group CEO Raul Vargas has reversed a prior company decision to allow most workers to do their jobs from home by instituting a hybrid work schedule starting in ...
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Outdated technology, poor software maintenance, and the dreaded clicking of a malicious link were most to blame for cyber insurance claims experienced by policyholders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 ...