Insurance
Chubb’s Greenberg: Start Questioning the Societal Benefits of Litigation Funding
Chubb CEO Evan Greenberg said society and the business community need to start asking questions regarding the purpose of third-party litigation funding, a major contributor to increases in frequency and severity within casualty lines. “What social purpose does litigation funding …
Read More `Insufficient Support’ Blamed for Collapse of Georgia Federal Courthouse Under Renovation
Construction crews had placed “insufficient support” beneath part of an upper floor that collapsed during renovations on the 124-year-old federal courthouse in Savannah, according to the government agency overseeing the project. Three construction workers were injured April 11 when a …
Read More Fla. Solons Pass Accountability Bill, Banning Unexplained Changes to Adjuster Reports
After years of chipping away at incentives for lawsuits against property insurers, the Florida Legislature has approved the Insurer Accountability Act, codifying some best practices in claims handling and requiring more reporting by carriers and regulators. Senate Bill 7052 passed …
Read More Tizzio Becomes President and CEO of AXIS Capital, Succeeding Benchimol
AXIS Capital Holdings Ltd. announced that Vincent C. Tizzio assumed the role of president and CEO of AXIS as part of a planned leadership transition, first announced in December 2022, and timed to the company’s annual general meeting held at …
Read More Arthur J. Gallagher Acquires Leavitt Insurance Services in California
Arthur J. Gallagher & Co. acquired Woodland Hills, California-based Leavitt Insurance Services of Los Angeles. Teri Frankel, Kenneth Blaich and their team will remain in their current location under the direction of Scott Firestone, head of Gallagher’s Southwest region retail …
Read More Attacks on Delivery Drivers Raise Safety Concerns Among Gig Workers
A homeowner fired shots at a couple’s car when they mistakenly turned onto his property while making an Instacart delivery. A Florida man was charged with killing and dismembering an Uber Eats delivery driver who brought food to his home. …
Read More Aon Realigns Leadership to Build Integrated Risk and Human Capital Capabilities
Aon has named Andy Marcell CEO of Risk Capital (Commercial Risk and Reinsurance) and Lambros Lambrou CEO of Human Capital (Health, Wealth and Talent), effective immediately. Both leaders will continue to report to Aon President Eric Andersen. Aon said the …
Read More One Worker Missing After Chemical Explosion at Massachusetts Chemical Plant
One worker is missing and the building is severely damaged after an early morning explosion at a pharmaceutical chemical plant in a business park in Newburyport, Massachusetts. Five workers were in the building at the time of the explosion. Four …
Read More Generali Agrees to Sell German Specialized Pension Unit to Fosun-Backed Company
Italy’s top insurer Generali said on Thursday it had agreed to sell its German specialized pension unit to Fosun-backed Frankfurter Leben as it seeks to improve profitability in the life business and free up capital. By selling Generali Deutschland Pensionskasse …
Read More Arthur J. Gallagher & Co. Acquires Switzerland’s AccurART
Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based insurance broker, announced the acquisition of Switzerland-based AccurART. Terms of the transaction were not disclosed. AccurART is a specialist fine arts insurance broker for private collections, museums, galleries and fine arts …
Read More