Commercial Lines
The Biden Administration Wants Corporate America’s Help Tracking Down Cyber Criminals
U.S. Deputy Attorney General Lisa Monaco has a message for corporate America: The U.S. Justice Department needs its help in order to take down cyber criminals. "We cannot do this alone," Monaco said ...
The Ratio of Cyber Ransoms Demanded to Ransoms Paid Is Declining: Corvus Report
There are some early signs of improvement in ransomware costs due in part to policyholder actions that helped reduce cybersecurity risks, according to a new report from Corvus Insurance. The ...
Thousands of Unvaccinated U.S. Workers Risk Losing Their Jobs Due to Employer Mandates
Thousands of unvaccinated workers across the United States are facing potential job losses as a growing number of states, cities and private companies start to enforce mandates for inoculation ...
Concert Group Holdings Raises $100M to Fuel Insurance Fronting Expansion
Concert Group Holdings – a newly formed business dedicated to insurance fronting – has raised $100 million in capital to fund its growth. A fronting company is a licensed and admitted insurer ...
Florida Insurers Are Swimming in a Sea of Red Ink: Citizens CEO Gilway
It's not just a few Florida property insurance companies that are running into financial trouble. Almost every carrier is losing money in 2021 and the future does not look any better, the CEO of ...
3M Will Resolve ‘Forever Chemicals’ Lawsuits With $98.4 Million Payout
Industrial conglomerate 3M Co on Tuesday said it had agreed to pay about $98.4 million to settle claims that it contaminated the Tennessee River with toxic chemicals. 3M agreed to resolve a lawsuit ...
AXIS Capital Accelerates Its Retreat From Coal Investments and Cover
AXIS Capital Holdings Ltd. said it will phase out insurance cover and investments in the coal business globally within the next 20 years. "It is our belief at AXIS that [insurance/reinsurance] ...
Russia’s Renaissance Insurance Will Reduce IPO Size
Russia's Renaissance Insurance Group will reduce the size of its IPO to $250 million from an initial $290 million, two sources told Reuters on Wednesday, selling only new shares plus an ...