National News

Swiss Re Adds Management Liability Coverage for Non-Profits, Private Companies

Swiss Re Corporate Solutions has expanded its Executive Risk product offering with the launch of SwissGuard, a multi-coverage, management liability policy designed for non-profit and private companies. SwissGuard insures against directors and officers liability, employment practices liability and fiduciary liability …

Zurich’s Mulligan to Lead Aon Benfield’s U.S. Cyber Practice Group

Reinsurance intermediary Aon Benfield has appointed Catherine Mulligan as managing director and U.S. Cyber Practice Group leader. Mulligan brings underwriting, policy form and product knowledge to Aon’s cyber capabilities for insurers and will be responsible for driving the team’s growth …

How Middle Managers Coerce Employees into Deceiving Upper Management

Several recent corporate and governmental scandals — Wells Fargo and the Veterans Administration to name two — unfortunately have revolved around middle managers and employees who have attempted to meet lofty performance goals that superiors impose by engaging in deceptive …

Insurance Agency M&A Continues at Fast Pace: OPTIS Partners

The number of insurance agency mergers and acquisitions over the first nine months of the year rose from 350 in 2016 to 457 this year, OPTIS Partners’ new quarterly report reveals. There were 132 deals announced during the third quarter, …

Fighting Drivers of Commercial Auto Frequency, Severity With Technology

Litigation financing, distracted driving and unexpected verdicts are just some of the factors impacting commercial auto frequency and severity, according to panelists speaking at the 2017 Risk Management Summit this week in Las Vegas. There has been a focus on …

U.S. Consumer Bureau Offers Rules for Financial Data Collection

The U.S. Consumer Financial Protection Bureau is turning its attention to companies that collect consumer financial information to provide services and products. The regulator laid out a series of principles on Wednesday to establish its expectations for accessing consumer’s financial …

Congress Questions Youth Football League on Safety

After hearing from brain trauma researchers who said playing football at a young age is unsafe even for kids who don’t suffer obvious injuries, members of Congress this week asked the nation’s governing body for the sport’s amateurs to detail …

GM to Pay States $120 Million to Settle Ignition Switch Claims

General Motors Co. has agreed to pay $120 million to resolve claims from 49 U.S. states and the District of Columbia over faulty ignition switches, state attorneys general and the company said on Thursday. The largest U.S. automaker had previously …

Travelers Insurance Reports Solid Q3 Results Despite $700M Cat Losses

The Travelers Companies today reported $293 million in net income for the third quarter despite absorbing more than $700 million in catastrophe claims. The $293 million in net income was a 59 percent decline from the $716 million in last …

5 Risk Management Associations to Develop Mutual Recognition of Certifications

Five of the world’s largest risk management associations have agreed to work together towards a recognition of their respective risk management designations/certification programs. The organizations, ALARYS (Latin America), FERMA (Europe), IRMSA (South Africa), PARIMA (Asia) and RIMS (North America), signed …

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