Articles by Mark Hollmer

Former Travelers CEO Fishman Dies

Jay Fishman, executive chairman and former CEO of The Travelers Companies, has died. The company he transformed into a major industry player and led for years disclosed the news on Aug. 19. “We are greatly saddened by the loss of …

CNA to Merge Central Zone Field Operation Into Others as Vezzosi Retires

CNA plans to eliminate its Central zone branch network as a standalone zone and realign it into the property/casualty insurer’s other remaining U.S. market territories, according to Carrier Management. The Chicago-based insurer explained in a statement issued to Carrier Management …

Crain Shutters Business Insurance Publication to Focus on Markets with ‘Proven Growth Potential’

Business Insurance – a well-known industry publication for 49 years, has been abruptly shut down by parent company Crain Communications. The final issue of Business Insurance came out on Aug. 1. The publication’s website, its businessinsurance.com, and the Business Insurance …

AIG Unleashes New Primary Cyber Policy for Property/Liability Exposures

AIG rolled out a new standalone cyber policy that provides primary insurance protection for a wide range of related risks. The insurance giant is marketing CyberEdge Plus as offering primary protection for property damage, bodily injury, business interruption, product liability …

‘Systemically Important’ Label Can Be Avoided: Fitch

Fitch Ratings said that newly established transparency about the designation process for globally systemically important insurers (G-SIIs) could help more to proactively stay off the list in the first place. The International Association of Insurance Supervisors, a global standard setting …

3 Baldwin & Lyons Senior Execs Resign; CEO Cites Differences with Chairman; New CEO Named

Three senior executives of specialty transportation insurer Baldwin & Lyons have abruptly retired and the insurer said it has retained independent legal counsel to review issues raised by their departures. For now, the Indiana-based company is disclosing few details about …

Insider ‘Secret Weapon’ Raiguel Named General Re CEO to Replace Montross

General Reinsurance Group is getting a new CEO: Berkshire Hathaway reinsurance senior executive Kara Raiguel, who is described by her boss as a “secret weapon,” “zero maintenance,” and a “true renaissance woman in the insurance and reinsurance industry.” Ajit Jain, …

Assurant to Pick Up Policies as Nationwide Exits Federal Flood Insurance Program

Nationwide will start winding down its status this May as a “Write Your Own” carrier within the federal government’s National Flood Insurance Program. Assurant said it formed an agreement with the insurer to fill the gap. Nationwide said it plans to begin …

CEO Montross to Exit Gen Re at Year’s End; New CEO to Report to Jain, Not Buffett

General Reinsurance Corp. Chairman and CEO Tad Montross plans to step down by the end of 2016, the Berkshire-Hathaway-owned reinsurer said on Tuesday. An eventual successor will report to Berkshire Hathaway executive Ajit Jain, Gen Re spokesperson Sue Johnson told …

Esurance Is No April Fool When It Comes to Free Publicity

Allstate’s Esurance has used the convergence of a volatile and unpredictable election year and April Fools’ Day to have a little fun. The fun is Esurance’s Election Insurance homeowners policy, designed to protect abandoned homes for the next four years …