LIberty Mutual News

Liberty Mutual Launches New Builder’s Risk Product

Liberty Mutual has launched Premier Protector – Builder’s Risk for large contractors and property owners – and the brokers who serve them – that is designed to help eliminate uncertainties and inconsistencies in coverage. According to Daniel Feige, division underwriting …

Liberty Mutual’s Q4 Net Income Takes a Hit from Auto Liability Losses

Liberty Mutual Holding Co.’s 2016 fourth quarter net income declined substantially, due mostly to higher U.S. personal and commercial auto liability losses. But the number was up for the full year. The insurer booked net income of $143 million for Q4, a drop of …

Blockchain Insurance Industry Initiative B3i Grows to 15 Members

The Blockchain Insurance Industry Initiative B3i, which was launched in October 2016 to explore the potential use of distributed ledger technology, has grown to 15 members from its original five. Members of the B3i initiative are collaborating to explore the …

More Insurers Disclosing Climate Change Risks, Report Shows

Insurers in the U.S. are increasingly willing to disclose their risk management practices related to climate change, and that in part may be attributable to last year’s global accord in Paris and shifting attitudes in the business world on the …

Insurance Company Wants Out of Delaware Child Porn Defamation Suit

A federal judge has ruled that an insurance company is obligated to defend the ex-wife of serial political candidate Richard Korn in a defamation lawsuit he filed against her. Liberty Mutual argued that a homeowner’s policy it issued to Magda …

Report: Some Illinois Insurance Companies Forcing Roof Replacements

When Dennis Roberts’ car insurance started getting a bit too expensive, he did what a lot of consumers do and shopped around. Then he picked a new company and switched both his home and auto coverage, never expecting what it …

Aspen Risk Management Enters Renewal Agreement with Liberty Specialty Markets

Aspen Risk Management Ltd. (ARML), the regional UK property and casualty business of Aspen Insurance, has entered into a renewal rights agreement with Liberty Specialty Markets (LSM), which is part of Liberty Mutual Insurance Group. Under the agreement, LSM’s UK …

Insurer Agrees to $100K Settlement in Washington Dog Shooting Suit

An insurance company contesting an arbitrator’s award following the shooting death of a dog by a neighbor has agreed to settle for $100,000. The Seattle Times reported Liberty Mutual settled with the attorney representing Jim Anderson of Eltopia. Anderson’s 7-year-old …

Liberty Mutual Insurance Raises Shareholding in India’s Liberty Videocon to 49%

Liberty Mutual Insurance Group is increasing its overall interest in its non-life insurance joint venture company, Liberty Videocon General Insurance Co. Ltd., from 26 percent to 49 percent. The increase was enabled as a result of changes in local regulations …

Fitch Ups Liberty Mutual’s Ratings Outlook

Liberty Mutual Group’s ratings outlook has been bumped up to positive from stable at Fitch Ratings, reflecting an acknowledgment of improved operating performance. Fitch also affirmed the financial strength ratings of Liberty Mutual and its subsidiaries at ‘A-‘ and its …