Commercial Lines
External Cyber Attacks Cost More, but Employees Produce Biggest Number of Claims
The cyber insurance losses costing the most are coming from external attacks on companies. But employees are generating the most number of claims as they make mistakes and face technical problems, ...
Allstate Only Hires Banks for Bond Sale Owned by Minorities, Women or Veterans
Allstate Corp. hired solely banks owned by minorities, women or veterans for its bond sale, in the biggest corporate deal yet managed only by diverse firms. The insurer enlisted Loop Capital Markets, ...
Zurich Insurance Reportedly in Advanced Talks to Buy MetLife U.S. P/C Unit
Switzerland's Zurich Insurance Group AG is in advanced talks to acquire MetLife Inc's U.S. property and casualty (P&C) car and home insurance unit for close to $4 billion, according to people ...
Financial Lobbyists Begin Feeling Out Biden Transition Team
Financial lobbyists, kept at arm's length by Joe Biden's campaign, have begun engaging with the Democratic president-elect's transition team on issues including economic stimulus, pandemic aid ...
Flyreel Raises $10M for AI Underwriting and Claims Technology
Flyreel, an artificial intelligence startup focused on claims technology for residential and commercial property insurers, raised $10 million in Series A financing from investors including Guidewire ...
Board Appointments at Markel and The Hanover
Markel Corp. appointed a new board member. The Hanover accelerated appointment of a new board chair to accommodate its transition plan. *** Markel Corp. appointed Mark Besca to its board of ...
Aon Nails Down $70M in Alternative Capital Capacity to Transfer Systemic Cyber Risk
Insurance broker Aon plc has launched a new product with Hudson Structured Capital Management Ltd. to protect insurers and reinsurers against systemic and catastrophic cyber events. Aon and HSCM (an ...
U.S. Insurance Execs Insist They Are Working to Fix Diversity Shortcomings
When Jerald Tillman and Mike James started their careers more than 20 years ago, working in the U.S. insurance industry was not on their radar, but programs to attract Blacks and other minorities ...