Commercial Lines
FDA Slaps ‘Most Serious’ Label on Philips Ventilator Recall Over Low Oxygen Risk
The U.S. Food and Drug Administration on Tuesday classified the recent recall of some of Philips' ventilators as Class 1, or the most serious type of recall, saying the use of these devices may cause ...
COVID Variant, Disasters Cripple Global Supply Chains
LONDON/BEIJING – A new worldwide wave of COVID-19. Natural disasters in China and Germany. A cyber attack targeting key South African ports. Events have conspired to drive global supply chains ...
New Securities Class Actions Decline 25% in First Half of Year
Plaintiffs filed 112 new securities class action lawsuits in federal and state courts in the first half of 2021, down 25% from the second half of 2020. This was the lowest number of filings since the ...
Ireland Looks to Boost Penalties for Senior Executives for Company Failings
DUBLIN – Ireland will introduce long-anticipated laws to make senior bankers and executives in other financial sectors directly accountable for failings at institutions over the next 12 to 18 ...CNA Finished Strong in Q2 After Ransomware Attack
CNA Financial Corp. (CNA) announced second quarter 2021 net income of $368 million versus $151 million in the prior year quarter. The quarter saw improvement in the underlying combined ratio, very ...
Insurance Withdrawal Puts Sports and Festival Events at Risk
While there was debate about the wisdom of the Tokyo Olympics proceeding as scheduled given the current health conditions, the insurance industry dodged a bullet with the go-ahead. According to ...
MGA reThought Insurance Nails $15.5M Investment to Boost Flood Insurance Market Push
The MGA reThought Insurance secured a $15.5 million investment round designed to accelerate its growth in the U.S. Commercial flood insurance market. Several investors participated in the Colorado ...
CFC Underwriting Picks Newman as CEO; Walsh Moves to Group CEO
CFC Underwriting, the London-based specialist managing general agent, announced that Chief Innovation Office Graeme Newman has been appointed as the company's new CEO. Founder and current CEO, Dave ...