Fireman’s Fund News

Fireman’s Fund on Hook for Criminal Defense Costs for ‘Lottery Lawyer’

As the criminal trial of a New York lawyer charged with bilking lottery winners out of millions of dollars got underway this week in a federal court in Brooklyn, one insurer was likely watching closely as it will be picking …

Hollywood’s Insurer Braces for Claims Due to COVID-Related Movie, TV Shutdowns

Allianz SE, Europe’s largest insurer, is bracing for a flood of claims after movie and television studios were forced to curtail production during lockdown. A unit of Allianz, which says it’s the largest insurer of Hollywood studios, has set aside …

Court Nixes $64M Award Against Fireman’s Fund in Reinsurance Spat with Utica Mutual

A federal appellate court on Tuesday overturned a jury’s award of $64 million against Fireman’s Fund Insurance Co. for allegedly breaching the terms of a reinsurance agreement. The 2nd Circuit Court of Appeals found that Fireman’s Fund was not liable …

Allianz Transfers $1.1B of Policy Obligations to Reinsurer Enstar, Limiting US Risks

Allianz SE, Europe’s biggest insurer, struck a deal to limit risks in the U.S. by transferring policy obligations to reinsurer Enstar Group Ltd. Enstar will assume net reinsurance reserves of about $1.1 billion and cover half of a book of …

Fireman’s Fund’s Skrynecki Joins QBE North America as VP Agriculture

QBE North America has appointed Glenn Skrynecki as vice president for agriculture in its property/casualty division. In this national role, Skrynecki will be responsible for the management of QBE North America’s agriculture book of business including underwriting, strategy and relationship …

Allianz Completes Sale of Fireman’s Fund Personal Lines to ACE

Allianz Global Corporate & Specialty (AGCS) said it has completed the sale of the U.S. personal lines business of Fireman’s Fund Insurance Co. (FFIC) to ACE Ltd. The sale, which closed on schedule as previously announced, is valued at $365 …

Allianz Profit Drops as Gross’ Exit Spurs PIMCO Asset Outflows

Allianz SE reported an unexpected decline in fourth-quarter profit as the exit of Bill Gross at Pacific Investment Management Co. (PIMCO) spurred clients to withdraw assets. The shares fell the most in five months. Net income fell to 1.22 billion …

Allianz Hires Zurich’s Schiavone to Build U.S. Financial Lines

Allianz SE hired Zurich Insurance Group AG’s Paul Schiavone to oversee financial products in the U.S. and Canada as Europe’s largest insurer builds its commercial business in North America. Schiavone, 46, was named regional head of financial lines in North …

Allianz Announces New Leadership Team for Combined Fireman’s Fund, AGCS NA

German insurance giant Allianz announced a new team that will lead the combined Fireman’s Fund and Allianz Global Corporate & Specialty North American business beginning in 2015. Andrew Torrance, current president and CEO of Fireman’s Fund Insurance Company (FFIC), will …

Fireman’s Fund Enhances Prestige Home Premier Product

Fireman’s Fund has unveiled new coverages and enhancements to its Prestige Home Premier product, now available in six states and filing nationwide through 2016. Homeowners in Arizona, Colorado, Connecticut, Illinois, Missouri, and Oregon are now eligible for the new product, …