INSURANCE NEWS
War Overtakes Civil Unrest as Top Political Violence Exposure for Global Businesses
War has overtaken civil unrest as the political violence exposure that companies fear most, as conflicts in Europe and the Middle East disrupt global trade flows, strain political alliances, embolden adversarial powers and heighten risks to business assets, according to …
Jury Sides With Insurers, Finding Takeda Liable for $885M in Damages
A U.S. jury found Takeda Pharmaceutical liable for causing about $885 million in damages by delaying a generic version of its constipation drug Amitiza through an anticompetitive scheme. Jurors in federal court in Boston, following a five-week trial, sided with …
NY Archdiocese Can Depose Chubb CEO Greenberg in Clergy Abuse Claims Case
The Archdiocese of New York (ADNY) has received the go-ahead to depose Chubb Insurance CEO Evan Greenberg in the ongoing legal dispute over liability insurance coverage for clergy sex abuse claims. Chubb sought to block the ADNY from deposing Greenberg, …
Crypto Crime Escalates With Kidnappings, Cons and Human Coercion
After a year of kidnappings, assaults and armed home invasions targeting cryptocurrency holders, the industry is racing to harden its defenses. Conferences are beefing up security. Private firms serving crypto holders say demand has surged. Exchanges are protecting their executives. …
Viewpoint: Insurers Cautiously Navigate the Next Step in AI Adoption
As more and more companies embed AI into select functions, only a portion indicate that they have used AI to change how an overall enterprise runs. It illustrates one of the key takeaways drawn from a recent industry survey by …
Bank CEOs’ AI Obsession Collides With Warning From Watchdogs
As bank executives increasingly tout the promise of artificial intelligence to slim down workforces, regulators are warning them not to get carried away. The European Banking Authority, the rulemaker for financial firms operating in the region, has been meeting with …
Insurance Agent, Former Lawmaker in Runoff in Georgia Insurance Commissioner Race
Two Democrats, one a longtime insurance agent, will face each other in a June 16 runoff election that will determine who will be on the November general election ballot for Georgia insurance commissioner. Keisha Sean Waites, a former state legislator …
Three New HO Carriers and an Improving Condo Market in Florida, Reports Show
Three new property insurance companies have entered the Florida market this spring, bringing to 20 the number of new carriers since Florida lawmakers ended assignment-of-benefit agreements and one-way attorney fees in 2023. “To date, these new companies since the legislative …
‘Am I out?’ Drought and Rising Costs From Iran War Deepen Pain for US Farmers
Scott Irlbeck crouched in a field of stunted wheat plants in a parched stretch of West Texas and slipped his hand into a crack wide enough to swallow it. Last autumn, Irlbeck planted a crop that barely grew because rain …
People Moves: Liberty Names Kooijman as GM, Insurance, Netherlands, Belgium, Nordics
Liberty Taps Kooijman as General Manager, Insurance, Netherlands, Belgium, Nordics Liberty Specialty Markets, part of Liberty Mutual Insurance Group, announced the appointment of Monique Kooijman as general manager for Netherlands, Belgium and the Nordics, subject to regulatory approval. Kooijman will …
Markets/Coverages: BHSI Offers New Casualty Insurance Policies in Switzerland
Berkshire Hathaway Specialty Insurance (BHSI) announced the launch of two new casualty insurance policies in Switzerland: one multinational and another for domestic risks, both tailored for large corporate and upper middle market commercial and industrial organizations in Switzerland. The new …
Barney Frank, Key Lawmaker During Financial Crisis, Dies at 86
Barney Frank, the quick-witted Democratic congressman who found himself on the front lines of the government’s rescue of the American financial system in 2007 and 2008, has died. He was 86. He died on Tuesday at his home in Ogunquit, …