Commercial Lines
AIG Promotes McElroy to Lead P/C Insurance Operations
American International Group promoted David McElroy to be the head of its property/casualty insurance operations. McElroy, Named CEO of AIG's General Insurance unit, also gains the title of Executive ...
Push to Consolidate COVID-19 Business Loss Suits Denied; Insurer-Based Grouping Eyed Instead
The legal panel on multidistrict litigation (MDL) has denied a proposal to consolidate cases brought by multiple businesses against various insurers for coronavirus-related business losses. At the ...
Britain Train Crash Is Worst in 15 Years; 3 People Dead
Britain suffered its worst train crash in more than 15 years after a derailment in Scotland killed three people, including the driver, and left another six injured. The Scotrail service was traveling ...
Insurance Software Maker Vertafore Sold to Roper in $5.4B Deal
Florida-based Roper Technologies has agreed to acquire insurance software maker Vertafore in an all-cash transaction valued at approximately $5.35 billion. Roper said the Vertafore management team ...
InsurTechs Focused on Commercial Auto and Climate Risk Secure New Funding
An InsurTech MGA focused on commercial auto insurance has raised $16 million in new Series A financing. A climate-risk related InsurTech raised $4.2 million in new seed financing. *** High Definition ...
Missouri Judge Rules Business Owners Can Sue Carrier Over Coronavirus Losses
A federal judge in Missouri said on Wednesday a group of hair salons and restaurants can sue their insurance carrier for business interruption losses caused by the coronavirus pandemic, which they ...
American Family Succession Plan Calls for Changing of the Guard in 2022
American Family Insurance group's succession plan calls for Chair and Chief Executive Officer Jack Salzwedel to continue as chair and CEO until Jan. 1, 2022. American Family Enterprise President Bill ...
Global Insured Catastrophe Losses Jump to $31B in H1: Swiss Re
Global insured property losses from disasters were $31 billion in the first half of 2020, up from $23 billion during the same period last year, according to Swiss Re Institute's preliminary sigma ...