Articles by Susanne Sclafane

W. R. Berkley Forms Cyber Risk Unit with Chubb’s Vispoli at Helm

W. R. Berkley Corp. announced the formation of Berkley Cyber Risk Solutions. The new organization will offer specialty commercial insurance coverages on a worldwide basis to clients of all sizes on behalf of W. R. Berkley Insurance Group member insurance …

Berkshire Hathaway Re/Insurance Profit Falls 30% in Q3

Berkshire Hathaway reported a 10.5 percent drop in operating profit for its insurance and reinsurance operations during the third quarter, with underwriting income falling 34 percent. While General Re reported an increase in pretax underwriting income of more than $100 …

CoverHound’s Cyber Insurance Site Now Open for Small Businesses

Two weeks after unveiling insurance offerings for small businesses on its online platform, CoverHound has launched another website—CyberPolicy.com—with cyber protection tools for a similar target market. Initially targeting slightly smaller businesses—those with 15 employees or fewer—CyberPolicy.com went live on Oct. …

CoverHound Small Business Commercial Suite Goes Live

Online personal insurance seller CoverHound is adding business insurance offerings— including workers’ compensation and commercial auto— to its online platform at CoverHound.com. The site is starting by focusing on small businesses with fewer than 20 employees and plans to gradually …

Venture Capital, Traditional Insurer Interest in Insurtech Remains High

Even though venture capital investments in venture capital-backed financial technology (fintech) companies fell more than 50 percent globally during the second quarter of 2016, interest in insurance technology startups (insurtech) continues to pick up steam, a new report reveals. According …

Brexit Would Create Extra Burden for Reinsurers, Caution CEOs

While insurers and reinsurers will be able to deal with the aftermath of an exit of the U.K. from the European Union, the time and cost involved are unwelcome intrusions to the business, executives suggested here. Plan B might be …

Zurich Reorg Designed to Improve the Customer Experience: CEO Greco

The structural changes announced by Zurich Insurance Group late last week are intended to organize the company “around the customer” and improve customer innovation, according to Chief Executive Officer Mario Greco. While a simplified structure will create cost benefits, that is not …

Security Vendors, Partnerships Offer Key to Simplifying, Selling Cyber Insurance Online: CoverHound CEO

CoverHound CEO Keith Moore has a vision of simplifying cyber insurance sales that involves underwriting the security vendors used by insureds—a model that could ultimately allow small business customers to bind their cyber policies online. That’s just one part of …

Insurance Rates Unlikely to Rise a Lot Even If Hurricane Season is Above Normal: Fitch

Hurricane forecasters may be split on whether the 2016 Atlantic hurricane season will be above average or normal, but even a higher level of storms might not boost property insurance prices to levels seen in prior market cycles, according to …

Chubb CEO Greenberg Rolls Out Welcome Mat for High Net Worth Competitors

Estimating that the high-net-worth (HNW) personal lines market has more than $30 billion worth of business up for grabs, and the small commercial lines market, another $80 billion, Chubb Limited CEO Evan Greenberg sees room for competitors. During an earnings …