Industry News
Ransomware Attack Strikes Insurance Broker Gallagher
Insurance broker Arthur J. Gallagher & Co. and its claims unit, Gallagher Bassett, reported that a ransomware incident that happened on Saturday, Sept. 26 limited some of its internal systems. In ...
UK Regulator Makes Wednesday Deadline for Business Insurance Claims Agreement
Britain's financial regulator said on Tuesday it had filed for an expedited appeal in a business interruption test case against insurers, but was seeking an agreement by Wednesday to avoid the ...
American Financal Group Will Cap Its Lloyd’s Departure by Selling Neon
American Financial Group has reached a deal to unload Lloyd's insurer Neon for an undisclosed price. RiverStone Holdings Lt. is the buyer in a transaction that will acquire from AFG GAI Holding ...
Ascot Group Hires Former Marsh, Nationwide Executives
Ascot Group, a Bermuda-based global specialty insurer and reinsurer – hired former executives from Marsh and Nationwide in leadership roles. Marsh veteran Andy Stirk is Ascot's new Chief Commercial ...
Executives On The Move at Munich Re and Guy Carpenter
A Munich Re subsidiary has a new chief executive officer. Guy Carpenter & Co. hired an executive to fill a leadership position involving property/casualty products and services in the ...
AIG Loses Four Black Executives, Including Two Diversity Officers
American International Group Inc. has lost four senior Black managers in recent weeks, including two who were tasked with improving the diversity of the insurer's ranks. Global inclusion head ...
Broker Alliant Sued by A.J. Gallagher Over Alleged Employee, Client Poaching Scam
California-based insurance broker Alliant is again being sued over an alleged poaching scam, this time by rival Arthur J. Gallagher & Co. Gallagher claims Alliant, with assistance and capital ...
D&O Underwriting Losses Will Continue, Worsened by Pandemic Claims: Fitch Ratings
For insurers handling U.S. directors and officers liability, Fitch Ratings has bad news and good news, both relating to the coronavirus pandemic. First, the bad: Underwriting losses will likely ...