Commercial Lines
Zurich Insurance Reports 35% Increase in 2021 Operating Profit to $5.7B
Zurich Insurance expects continued revenue and profit growth in the next two years, its chief financial officer said on Thursday, after the Swiss insurer reported its biggest annual profit since the ...
10 Cyber Attacks in 2021 Cost $600M With 40,000 Businesses Put at Risk: TMHCCI Report
In just 10 cyber incidents last year, over $600 million in cash was stolen or taken as ransom, tens of millions of citizen records stolen, 40,000 businesses' IT operations put at risk, one billion ...
Windstorm Coverage Doesn’t Include Flood Damage: 5th Circuit
An insurance policy that lists named windstorms among the covered perils doesn't cover flood damages caused by Hurricane Harvey even though flooding wasn't specifically excluded, a panel of the 5th ...
CNA Net Income Up 74% in 2021 Despite Q4 Drop
CNA Financial Corp. said fourth-quarter 2021 net income decreased more than 30 percent to $266 million compared to the same period the prior year. There was a drop in net investment income during the ...
Reuters Report: J&J Crafts Secret Plan to Cap Litigation Payouts to Cancer Victims
Johnson & Johnson created a plan last year to limit the financial bleeding from billions of dollars in jury awards to plaintiffs who alleged the company's Baby Powder and other talc products ...
The Hartford Q4 Net Income Rises 36% on Commercial Lines Growth
Net income at The Hartford for the fourth quarter of 2021 ended at $729 million, a 36 percent increase from income of $537 million the same period a year earlier. For the year, net income was about ...
Markel Numbers ‘Thick’ on Underwriting, Investments, Ventures
Markel Corporation reported a "record-smashing" $628 million in underwriting profit for 2021, a figure that translated into a combined ratio of just over 90 for the year. Co-Chief Executive Officer ...
Court Siding With Merck Over War Exclusion for Cyber Attack a Warning to Insurers
Last month the Superior Court of New Jersey ruled insurers cannot use a policy exclusion to avoid covering about $1.4 billion in damages Merck & Co. said it suffered from a spring 2017 cyber ...