Industry News
As Legal Pot Grows, More Kids Sickened by Edibles at Home
The number of young kids, especially toddlers, who accidentally ate marijuana-laced treats rose sharply over five years as pot became legal in more places in the U.S., according to a study published ...
D&O Insurer Dodges Coverage for $4.9M Embezzlement Scheme
A directors and officers insurer has no duty to defend a New Mexico financial organization from litigation filed after its former chief executive officer was convicted of stealing $4.9 million from ...
Chubb Launches Global Climate Business Unit
Chubb announced the launch of a new Global Climate Business Unit, aiming to bring together Chubb units engaged in traditional, alternative and renewable energy, climate tech, agribusiness and risk ...
January Renewals See Hardest Property-Catastrophe Reinsurance Rates in Generation
A convergence of global events has led to the hardest property-catastrophe reinsurance market in a generation and a "complex," "grueling" and "late" January renewal season, which went down to the ...
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 ...