Content from Chad Hemenway
Court Reverses Prior Coverage Decision on Target Cyber Breach: Chubb Must Pay
In an "extraordinary remedy" of a judgment from a year ago, a federal court judge in Minnesota reversed a decision that Target Corp. was not entitled to insurance coverage from Chubb for costs the ...
Most Middle-Market CFOs Believe ESG Strategy Will Improve Financial Growth
According to a new survey from professional services firm BDO, about two-thirds of middle-market CFOs think implementing an environmental, social and governance (ESG) plan will benefit financial ...
Insurers Urged to Stress Test Cyber Portfolios for Russian Attack Potential
Cyber risk and analytics firm CyberCube said it has seen cyber attacks on Ukrainian government services, infrastructure and other industries and it urges the insurance industry to re-evaluate ...
APCIA Joins Group Pushing for Reforms on Litigation Funding
A new advocate group in New York that counts the American Property Casualty Insurance Association (APCIA) as a member is looking to crack down on the practice of litigation funding. The Consumers for ...
Funds Transfer Fraud Skyrockets in 2021; Small Businesses Hit Hard
Cyber claims from small and midsize businesses saw a "material uptick" in 2021, with funds transfer fraud a main culprit, according to cyber insurance and security firm Coalition. According to its ...
Liberty Mutual Closes Deal for State Auto Group
Liberty Mutual Insurance said it completed the all-cash deal of about $1 billion for super-regional insurer State Auto Group. The transaction was originally announced in July 2021. Now that it gained ...
Hub, Bold Penguin to Acquire Small-Business Digital Agency Insureon
Brokerage Hub International and InsurTech Bold Penguin have agreed to acquire digital agency Insureon Holdings. Chicago-based Insureon calls itself the top independent marketplace for online delivery ...
U.S. P/C Industry Grew Surplus Despite Underwriting Loss in 2021
Insurance rating agency AM Best said it expects the U.S. property/casualty insurance industry to record an increase in surplus in 2021 thanks to investment income and capital gains improvements ...