Industry News
An InsurTech CEO’s Take on Ransomware Attacks
It almost goes without saying at this point: Ransomware attacks are on the rise. Ransomware attacks grew by nearly 50 percent in the 2020 second quarter along compared to the first three months of ...
Everest Insurance Appoints Three New Underwriting Execs
Everest Insurance made three new executive appointments in its underwriting leadership. Mike Harnett has been named chief underwriting officer for North America; Erik Nikodem has been appointed ...
Executives On The Move at Everest Re, AXIS Insurance and Argo Group
Two former executives from Chubb and SCOR are joining Everest Re Group in C-level roles. AXIS Insurance brought on four experienced underwriters who will work for its U.S. Management Liability team. ...
The Latest Launches From Allstate and LexisNexis
Allstate now offers commercial auto coverage to Lift in California, Iowa, Indiana, Kansas, Kentucky, Missouri, Ohio and West Virginia. A division of LexisNexis has launched an identity access ...
Insurers Are Often Succeeding in Getting COVID-19 Business Interruption Suits Dismissed
Insurers have succeeded in dismissing COVID-19 business interruption lawsuits in 17 out of 23 cases heard so far, with a growing number of judges finding that some tangible alteration of a property ...
U.S. Treasury Warns Carriers Not to Pay Ransomware Demands
The U.S. Treasury Department is warning that individuals or businesses that help facilitate ransomware payments may be violating anti-money laundering and sanctions regulations. The warnings came in ...
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 ...