Commercial Lines
Texas Judge Rules Against Insurer, Refusing to Dismiss Theater Chain’s COVID Lawsuit
A federal judge in Sherman, Texas on Wednesday ruled against an insurer that sought to dismiss a $500 million COVID-19 business-interruption lawsuit by the nation's third-largest chain of movie ...
Texas Governor Backs Exxon Mobil’s Petition to Reverse Climate Change Court Decision
The governor of Texas in an unusual move on Thursday asked the state's Supreme Court to accept an Exxon Mobil Corp petition seeking to reverse a state court decision in a climate change case. ...
Zurich North America Names Head of Private Equity for U.S. Middle Market Biz
Zurich North America said it is building a team to better support private equity-owned businesses. To that end, the longtime provider of insurance products and services for this customer class has ...
Chinese InsurTech Waterdrop Reportedly Raises $360M in NY IPO
Chinese online insurance technology firm Waterdrop Inc has raised $360 million by pricing its shares at $12 a piece in its New York initial public offering (IPO), according to two sources with direct ...
Shift Technology Raises $220M to Advance AI-Driven Insurance Technology
Shift Technology raised a whopping $220 million in new venture investment designed to advance its products and services that rely on artificial intelligence and big data technology to optimize ...
AIG’s P/C Business Squeaks Into the Black; Net Income Soars
AIG's property/casualty insurance business squeaked into the black during the first quarter after losing money a year ago, and the company's overall net income grew substantially, thanks in part to ...
Insurer Reviews Options After Egyptian Court Allows Continued Container Ship Detention
An Egyptian court on Tuesday ruled that the container ship which blocked the Suez Canal in March could continue to be held in the waterway, rejecting an appeal by its Japanese owner against its ...
COVID Is One of Many Risks Insurers and Financial Sector Firms Face: Allianz
Covid-19 may drive market corrections and insolvencies that could impact financial institutions' balance sheets, increase exposures for directors and result in litigation. However, financial ...