Industry News
Berkshire Hathaway Raises New CEO Abel’s Salary to $25 Million
Berkshire Hathaway said Jan. 6 that it raised the salary of new Chief Executive Officer Greg Abel to $25 million, far exceeding the $100,000 annual salary that his predecessor ...
MAPFRE Accuses AAA of Violating Long-Time Exclusive Marketing Agreement
The biggest auto insurer in Massachusetts is at odds with the AAA Northeast division it says is violating an exclusive 20-year joint marketing agreement that is worth $200 million a year in premiums ...
California Bill Would Double Insurer Penalties for Unfair Claims Practices
A bill that promises legislative reform in California to speed up disaster recovery for homeowners and renters through improved insurance coverage and expanded consumer protections was introduced on ...
Insurance Costs, Climate Concerns Factor Heavily in U.S. Home Buying Decisions
Though nearly half of U.S. homeowners are considering a move, this year is expected to bring greater market stability, according to an inaugural report on homeownership trends by Kin. The ...
Executives on the Move at Liberty Mutual, Cowbell, W. R. Berkley
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed David Saillen as Chief Underwriting Officer Europe, effective immediately.
A Year Later, LA Wildfires Were ‘Significant Stress Event’ for Insurance: Morningstar
In a report one year on from the Los Angeles area wildfires in 2025, which started on Jan. 7, Morningstar DBS Research issued a perspective that called the fires "a significant stress event" for ...
High-Net-Worth Risk Appetite Drops as Some Regions Show Stabilization
Risk appetite among high-net-worth individuals has dropped sharply, according to a new high-net-worth outlook from HUB International. Per the report, only 25 percent of HNW individuals are willing to ...
Good Times for U.S. P/C Insurers May Not Last; Auto Challenges Ahead
In their latest report on the U.S. auto insurance market, analysts from S&P Global Market Intelligence predict the strongest overall U.S. property/casualty insurance underwriting results in 18 ...
Breaking: Andersen to Replace Zaffino as CEO of AIG on June 1
American International Group Inc. announced that Chair and CEO Peter Zaffino will transition to Executive Chair of AIG and retire as CEO by midyear and that industry veteran Eric Andersen will take ...