Articles by Suzanne Barlyn

Firms Turn to Kidnap Insurance Policies to Cover Ransomware Losses

Companies without cyber insurance are dusting off policies covering kidnap, ransom and extortion in the world’s political hotspots to recoup losses caused by ransomware viruses such as “WannaCry,” insurers say. Cyber insurance can be expensive to buy and is not …

AIG Picks Hamilton’s Duperreault as CEO

American International Group named Brian Duperreault as its new chief executive officer on Monday, selecting a protege of former CEO Hank Greenberg and an industry veteran known for his turnaround expertise. Duperreault, age 70, is the founder and chief executive …

Many Non-U.S. Firms May Be Uninsured for Recent Ransomware Attack

Many companies outside the United States may not have cover for a recent computer-system attack, leaving them potentially with millions of dollars of losses because there has been relatively little take-up of cyber insurance, insurers say. A massive ransomware worm …

AIG Returns to Profit in Q1

American International Group Inc., one of the largest U.S. insurers, reported better-than-expected first-quarter operating profit on Wednesday, helped by investment returns and cost cuts. AIG reported operating earnings of $1.37 billion, or $1.36 per share, compared with $765 million, or …

AIG Investors Await New CEO and Strategy

For nearly two months, American International Group Inc. has planned to replace its chief executive but a successor has yet to be named, creating a void that has fueled investor concern about the insurance company’s future. AIG reports its first-quarter …

FM Global Chooses Luxembourg as Post-Brexit EU HQ

U.S. commercial property insurer FM Global is planning a European hub in Luxembourg following Britain’s decision to leave the bloc, the head of its European division told Reuters. The mutual insurer, which earned $5.5 billion in gross premium last year, …

Insurers Push to Keep Industry Expert Woodall on U.S. Regulatory Council

With no sign of a replacement in the works, the U.S. insurance industry is pushing to prevent the departure of a key figure on the federal body that determines how large insurance companies are regulated. Roy Woodall, the sole independent …

AIG Board Refuses CEO Hancock’s 2016 Cash Bonus after Poor Earnings

American International Group Inc.’s board of directors declined to award Chief Executive Officer Peter Hancock a cash bonus for his work last year, after the company’s dismal financial performance roiled shareholders, according to a proxy filing on Thursday [April 13]. …

New York Sees Its Cyber Rules for Insurers as Model for Other States

A group of U.S. state insurance regulators should use New York’s sweeping cyber security rules as a model for how insurers must protect their networks from hackers and when they must disclose cyber events, New York’s financial regulator said on …

UBS Analysis: Poor Morale Could Hurt AIG Turnaround, Hiring

A morale crisis at American International Group Inc. could prevent the U.S. insurance company from keeping and hiring the talent it needs to propel it through its financial turnaround, UBS said in an analysis on Monday. AIG ranked last through …