Industry News
AIG CFO to Take Temporary Medical Leave
American International Group announced that Shane Fitzsimons, executive vice president and chief financial officer, will take a temporary medical leave of absence, effective immediately. Mark Lyons, ...
Hurricanes and Floods Bring $120B in 2022 Insurance Losses: Munich Re
Hurricane Ian in the United States and floods and Australia helped to make 2022 one of the costliest years on record for natural disasters, Munich Re said on Tuesday, warning that climate change was ...
Beazley Launches Global Re/Insurance Market’s First Cyber Catastrophe Bond
Specialist insurer Beazley has launched the global insurance market's first cyber catastrophe bond. The $45 million bond gives Beazley indemnity against all perils in excess of a $300 million ...
Vista Equity Partners to Buy Duck Creek for $2.6B Cash
Insurance software provider Duck Creek Technologies said it has entered into an agreement to be bought by Vista Equity Partners in an all-cash deal of about $2.6 billion. Pending Duck Creek ...
Cat-Exposed Property Highlights Q4 Rate Increases: MarketScout
According to MarketScout's Market Barometer, the fourth-quarter 2022 composite rate for U.S. commercial lines was up 5.1 percent. The Dallas-based distribution and underwriting company said property ...
Ben & Jerry’s, Patagonia, and Now Insurer Branch: All Certified B Corps
Joining the ranks of Ben & Jerry's, Patagonia—as well as InsurTechs Lemonade and Loop—Columbus, Ohio-based Branch announced yesterday that it is now a Certified B Corporation. In short, a B ...
Tech Bytes: New Partnerships at CCC Intelligent Solutions, One80 Intermediaries, Markel
CCC Intelligent Solutions Inc., a software as a service platform for the property/casualty insurance industry, introduced the CCC First Party Claim Portal, a new digital capability that aims to ...
Executives on the Move at The Hanover, Everen, RIMS
The Hanover Insurance Group has appointed David J. Lovely executive vice president and chief claims officer. Lovely joins The Hanover from PricewaterhouseCoopers (PwC), where he was responsible for ...