Industry News
AIG Sues Newly Launched Dellwood Insurance and Its Founders
American International Group and a group of its excess and surplus lines subsidiaries have filed suit against Dellwood Insurance Group and three former AIG executives who launched the nationwide ...
Court Approves 3M Settlement Over ‘Forever Chemicals’ in Public Water Systems
Chemical manufacturer 3M will begin payments starting in the third quarter to many U.S. public drinking water systems as part of a multibillion-dollar settlement over contamination with potentially ...
Georgia’s Latest Effort on Plaintiff Demands Aims to Deter Bad-Faith Claims
Georgia lawmakers have approved two bills that could have a significant impact on windstorm and bad-faith claim losses for property insurers. First, the bad-faith reform legislation. Auto insurers ...
Ship Owner in Bridge Collapse Seeks to Limit Its Liability
The owner of the ship that rammed into a bridge in Baltimore last week, killing six workers and throwing the eastern U.S. transportation network into chaos, is seeking to limit its liability to about ...
Swiss Re Names Berger as Group CEO, Succeeding Mumenthaler
Swiss Re announced that Andreas Berger will become group chief executive officer, effective July 1, 2024, taking over from Christian Mumenthaler, who will step down. "The board unanimously determined ...
Spinnaker Veterans Launch Fronting Startup Emerald Bay With Backing From Bain Capital
Emerald Bay Risk Solutions has launched as a property/casualty insurance fronting carrier, backed by Bain Capital Insurance and headed by a group of insurance veterans who have fronting experience. ...
Farmers Names Allstate Veteran as Chief Financial Officer
Farmers Insurance on Monday announced the appointment of John Griek as chief financial officer for Farmers Group Inc., effective April 1. He will report to CEO Raul Vargas. Maïté Irakoze Baur had ...
Insurance Industry Readies for Historic Losses From Baltimore Bridge Tragedy
It's very early in the recovery process and already the numbers are large. Insured losses for the tragic collapse of the Francis Scott Key Bridge in Baltimore could be as much as $2 billion to $4 ...