Markets
Chubb Wins in Judge’s Denial of Target’s Data Breach Bank Claims
Target Corp. has been denied its $138 million insurance claim against ACE (now Chubb) Insurance companies stemming from a 2013 data breach. A federal judge in Minnesota ruled the retailer had failed ...
Nationwide Boosts Venture Capital Fund to $350 Million
Nationwide plans to more than triple its venture capital fund and also increase the division's alignment with its corporate development strategy. The Ohio-based property-casualty insurer is growing ...
Zurich Insurance’s Capital Target Disappoints; Full-Year Profit Beats Expectations
Zurich Insurance's new capital target disappointed market expectations on Thursday, even as claims related to the COVID-19 pandemic and higher losses from natural catastrophes bit less than expected ...
Irish Central Bank Pledges to Act Against Insurers Who Don’t Pay COVID-19 Claims
Ireland's central bank governor told insurers to urgently honor and pay valid claims related to COVID-19 disruption, following a successful test case in court last week, or risk facing legal action ...
AI, Privacy, Racial Bias Among State Insurance Regulator Priorities for 2021
The country's insurance regulators are vowing to prioritize the monitoring of the use of consumer and non-consumer data by companies, the use of artificial intelligence, and the availability and ...
The Latest Launches From QBE North America and Zego
QBE North America has new custom property coverage targeted to mid-sized companies. Mobility insurance provider Zego is partnering with a company to help expand its fleet offering of e-mopeds, ...
Travel Business Dip, Catastrophes Leave Arch Capital With Insurance Underwriting Loss
Arch Capital Group reported a huge jump in fourth quarter net income, thanks in part to rate hikes and new business. But the Bermuda-based carrier's insurance business experienced an underwriting ...
AI Startup With Insurer/Reinsurer Partners Seeks Canadian IPO
Farmers Edge Inc., a firm that uses artificial intelligence to help growers boost crop yields, is seeking to raise about C$100 million ($79 million) in an initial public offering to strengthen its ...