Insurance

Zurich Insurance Group is continuing to expand its middle market and specialty footprint by investing heavily this year in targeted recruitment of “top-tier underwriting talent” across the group. “In the U.S. alone, we have hired more than 100 middle market …

A jury in Newport News, Virginia has awarded $10 million to a teacher who was shot by a 6-year-old student. Abby Zwerner, who was shot in January 2023 in her first-grade classroom, had asked for $40 million against a former …

Boeing Co. will avoid a criminal charge over two fatal 737 Max crashes after a federal judge paved the way for a $1.1 billion settlement agreement, handing the embattled manufacturer a victory in a long-running legal battle. US District Judge …

NFP Names Roberts Northeast SVP NFP, headquartered in New York City, appointed David Roberts as senior vice president, surety, in its Northeast region. With over three decades of experience managing commercial risk, Roberts, who is based in New Jersey, brings …

Bristol Myers Squibb reached a $239 million settlement of claims that former Celgene shareholders were defrauded about prospects for the psoriasis drug Otezla, and multiple sclerosis treatment now known as Zeposia. A preliminary settlement of the 7-1/2-year-old class action was …

The Caribbean parametric insurer, CCRIF SPC, announced it will make a second payout of US$21.1 million to the government of Jamaica – a policy triggered by excess rainfall from Hurricane Melissa. This payout follows the CCRIF’s first record payment of …

The global private credit market currently has no systemic risks, while Asia offers the biggest growth opportunities, a senior Bain Capital private credit executive told Reuters. Concerns about weak lending standards in credit markets have resurfaced after the recent collapses …

Ireland’s central bank fined an Irish subsidiary of cryptocurrency exchange Coinbase Global 21.5 million euros ($25 million) on Thursday for breaching anti-money laundering and counter-terrorist transaction monitoring obligations. The Irish regulator said the fine related to faults in the configuration …

The U.S. loses approximately $308.6 billion in insurance fraud, leading to each policyholder paying $900 more through annual premium increases, according to the Coalition Against Insurance Fraud. Scams affecting American policyholders and companies are among the most pervasive financial crimes …

Fresh off its subsidiary’s purchase of a builder-linked homeowners’ insurance program, the Tampa-based Baldwin Group took another hit to its bottom line in the third quarter this year. But the brokerage and advisory group expects the loss to turn into …