National News

Travelers Says It’s ‘Where It Needs to Be’ to Compete; Q2 Results Dampened by Weather

Small business insurance leader Travelers Companies is well-positioned to continue to compete in the small commercial insurance space that is attracting new entries including technology-driven start-ups, according to CEO Alan Schnitzer. “We think we are where we need to be …

Ban on Consumer Mandatory Arbitration Clauses Faces Challenges

A U.S. rule years in the making that was intended to restore consumers’ ability to band together to sue financial companies could unravel in just a few months as the heads of two federal agencies clash over it and critics …

Catastrophes Cost Insurers $22B in 1H 2017; Economic Losses Totaled $53B: Aon

Global insured losses from natural disasters during the first half of 2017 are estimated at US$22 billion with 76 percent of these losses generated by U.S. events, according to a report issued by Impact Forecasting, Aon Benfield’s catastrophe model development …

Jury Clears GM of Liability in First Trial Over Updated Ignition Switch

A federal jury in New York on Wednesday found General Motors was not to blame for a crash of an Arizona man who alleged that his accident was caused by an updated version of the carmaker’s ignition switch that did …

Chubb Names Farrow Practice Leader for Life Sciences Industry in North America 

Chubb has named Lee Farrow  as executive vice president and Life Sciences Industry practice leader for North America. In his new role, effective immediately, he will oversee the strategy, operations and underwriting of biotechnology, pharmaceutical, supplement, and medical device customers. Farrow will …

Sullivan Brokers Enhances Healthcare Provider Program, Adds Cybersecurity Coverage

Sullivan Brokers has launched an enhanced program that offers first party protection specifically tailored to address the exposures healthcare providers face when presenting claims to public or private insurers. The enhanced Practice Shield program now includes an expanded list of …

House Committee Advances Bill to Let Autonomous Vehicles Bypass States

A U.S. House panel on Wednesday approved a sweeping proposal by voice vote to allow automakers to deploy up to 100,000 self-driving vehicles without meeting existing auto safety standards and bar states from imposing driverless car rules. Representative Robert Latta, …

Starr Buys Stake in Small Business Insurtech CoverWallet

Starr Companies is now a minority shareholder in online small business insurance agency CoverWallet. CoverWallet confirmed the deal that was first reported by the Wall Street Journal. No financial terms were disclosed. Starr previously invested in CoverWallet’s Series A round, …

Farmers Names Fernandez to Head Business Insurance; Kappler to Lead Bristol West

Farmers Insurance has named new presidents for two of its key business units. Sharon Fernandez, most recently president of Bristol West Insurance, has been appointed president of Business Insurance at Farmers. In addition, Eric Kappler, previously head of product management at Bristol West, …

Ron Lockton Succeeds Spencer as CEO, President at Lockton Inc.

Ron Lockton, who has served as global insurance broker Lockton Inc.’s vice chairman for the past two years as part of the succession plan, is expanding his role to become president and chief executive officer of the firm.  He succeeds Glenn Spencer, …

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