Personal Lines
Allstate to Eliminate 3,800 Jobs in Ongoing Overhaul Effort
The Allstate Corp. plans to slash approximately 3,800 jobs in claims, sales, service and support functions as part of an ongoing effort to restructure, and grow its property/casualty market share ...
InsurTechs Increasingly Viewed as Carrier Acquisition Targets: Deloitte
Carriers will increasingly target InsurTechs for acquisition and partnerships in the coming months due to pandemic-related economic uncertainty, Deloitte concluded in a new report. "As insurers move ...
Florida Attorney Driving Thousands of Insurer Lawsuits Violated 14 Bar Rules: Judge
Embattled Florida attorney Scot Strems, who, with his firm, has filed thousands of assignment of benefit and first party lawsuits against Florida property insurers over the last several years, has ...
Overshadowed by COVID-19; Insurance Industry M&A Takes a Pause
Insurance industry M&A activity is on a temporary break due to uncertainties created by the COVID-19 pandemic, according to a new Deloitte report. "COVID-19 has forced many insurance carriers to ...
Ransomware Attack Strikes Insurance Broker Gallagher
Insurance broker Arthur J. Gallagher & Co. and its claims unit, Gallagher Bassett, reported that a ransomware incident that happened on Saturday, Sept. 26 limited some of its internal systems. In ...
AIG Loses Four Black Executives, Including Two Diversity Officers
American International Group Inc. has lost four senior Black managers in recent weeks, including two who were tasked with improving the diversity of the insurer's ranks. Global inclusion head ...
Most Execs Pursue Work-Life Balance After Suffering From the ‘Pandemic Blues’
Nearly eight out of 10 corporate executives have experienced poor mental health during the coronavirus crisis, prompting a number of them to re-evaluate and improve work-life balance, a survey showed ...
A.M. Best said Spinnaker Will Benefit From Hippo’s Acquisition
Hippo's acquisition of Spinnaker Insurance drew favorable attention from A.M. Best. The ratings agency removed Spinnaker from under review with developing implications and affirmed both it's A- ...