Munich Re reported a profit of €1.21 billion (US1.47 billion) for 2020, a 55% decline from the €2.71 billion (US$3.29 billion) reported for the previous year. The reinsurer’s Q4 2020 profit dropped to €212 million (US$258 million) from €217 million …
The U.S. property/casualty insurance (P/C) industry could experience déjà vu in 2021 in terms of financial results. Many factors that insurers encountered in 2020 likely will continue to impact the financial performance of the U.S. property/casualty (P/C) industry in 2021, …
Class action lawsuits were filed in Nevada against 10 major auto insurance companies this week, contending that the companies charged excessive insurance premiums during the pandemic by failing to account for a drop in driving and crashes. The lawsuits acknowledge …
The U.S. regulator that approved the flawed Boeing Co. 737 Max design has continuing weaknesses and is vulnerable to “future high-risk safety concerns,” a government watchdog report found. The Transportation Department’s Inspector General said that the Federal Aviation Administration hasn’t …
A jury has ordered Alaska Airlines to pay $3.2 million to the family of a 75-year-old disabled woman who died four months after falling down a Portland International Airport escalator. KGW reports the family of Bernice Kekona, of Spokane, Wash., …
Texas’s deep freeze and power outages last week could cost as much as $90 billion in losses, and most of it could have been avoided, according to Enki Research disaster modeler Chuck Watson. Arctic cold brought ice and sub-zero temperatures …
World Insurance Associates LLC (WIA) acquired Szerlip & Company of Millburn, New Jersey, on January 1, 2021. Terms of the transaction were not disclosed. Szerlip & Co. is a third generation insurance agency founded by Herbert Szerlip in 1934. His …
Glatfelter Insurance Group (GIG), an American International Group Inc. (AIG) company, has appointed Conor Murray as president of Glatfelter Claims Management (GCM), effective February 8, 2021. He will report directly to James Partridge, chief operating officer of Glatfelter Insurance Group. …
Crawford & Company, a publicly listed independent provider of claims management and outsourcing solutions to carriers, brokers and corporations, has appointed Robert Pageau as vice president and managing director of U.S. Loss Adjusting for the New England region. In this …
Sonia Kundi has joined the Zurich North America Group Risk Management team as Canada chief risk officer, effective immediately. She reports to North America Chief Risk Officer Colleen Zitt and will be a member of her leadership team. She will …
