Industry News
Bailey Joins AIG as Global Head of Distribution and Field Operations
American International Group has appointed Don Bailey as global head of Distribution and Field Operations, effective immediately. He reports to Chairman and CEO Peter Zaffino. For more than 30 years, ...
Insurance M&A Activity Slowed in 2022: S&P
Berkshire Hathaway's $11.6 billion acquisition of Alleghany Corp. was the largest insurance transaction in 2022, but insurance M&A activity dropped this year, according to an S&P Global ...
The Latest Launches From Ford Credit, Lemonade, SURE
Ford Credit announced plans to launch Ford Pro Insure, a new commercial auto insurance product powered by Pie Insurance. Ford Pro Insure will cover commercial vehicles purchased through Ford Pro and ...
Reinsurers Winning on Price, Not Coverage Restrictions: Guy Carpenter
Prices rose, but threatened coverage changes haven't materialized during a delayed 1/1 reinsurance renewal period, according to reinsurance broker Guy Carpenter. Referring to Jan. 1, 2023 as "one of ...
Pulitzer-Winning Authors Join OpenAI, Microsoft Copyright Lawsuit
A group of 11 nonfiction authors have joined a lawsuit in Manhattan federal court that accuses OpenAI and Microsoft of misusing books the authors have written to train the models behind OpenAI's ...
$5.4B Insured Losses from Winter Storm; Half Commercial: KCC
Insured damage to residential, commercial and industrial properties and automobiles will be about $5.4 billion from Winter Storm Elliot, according to modeler Karen Clark & Co (KCC). The storm ...
No Ransomware Cover in BOP Policy, Ohio Supreme Court Rules
A businessowners insurance policy did not provide coverage for software damaged by a ransomware attack because there was no direct physical damage or loss, the Ohio Supreme Court ruled. "Computer ...
Social Media Buzz: Top LinkedIn Posts About Carrier Management News
Throughout the past week, we have devoted portions of our daily newsletters to republishing news and feature articles that were the most viewed by members of the Carrier Management audience. But ...