According to court records, Root Inc’s former chief marketing officer – accused of stealing about $10 million from the company – has not made court appearances, spent money in violation of court orders, and has a bench warrant out for …
A federal judge in Atlanta this week awarded USI Insurance Services more than $2 million in compensatory and punitive damages to be paid by three former executives of its aviation group for breach of their employment contracts. According to court …
American International Group (AIG) said late Monday it has entered into an agreement to sell Validus Re to RenaissanceRe Holdings for about $3 billion, mostly cash. The deal, expected to close during the fourth quarter, includes AlphaCat and renewal rights …
Late last week insurtech Pie Insurance held an all-hands meeting during which CEO John Swigart told employees that 14% of them, 66 in all, are being laid off. “This decision was made as part of our wider budget revision process …
Chubb CEO Evan Greenberg says society and the business community need to start asking questions regarding the purpose of third-party litigation funding, a major contributor to increases in frequency and severity within casualty insurance lines. “What social purpose does litigation …
Commercial property premiums increased more in the first quarter than they have in more than 20 years as the first three months of the year marked the 22nd straight quarter of overall premium increases, at 8.8%, according to the newest …
Aon this week filed a lawsuit against rival Alliant Insurance Services for an alleged “unlawful raid” of senior leaders and other employees of Aon’s facultative reinsurance group. Aon claims Alliant took 26 of its employees, reinsurance business, and confidential information …
Buyers of directors and officers liability may be getting a break from steep rate and price increases seen over the last several years, but insurance industry rating agency AM Best said it remains to seen how long the reprieve can …
Outdated technology, poor software maintenance, and the dreaded clicking of a malicious link were most to blame for cyber insurance claims experienced by policyholders in 2022, according to a new report from Coalition. “Threat actors are forever looking for targets …
For the fifth straight quarter, pricing increases for cyber insurance continued to fall at the start of 2023. According to a new U.S. Cyber Purchasing Trends report from broker Marsh, prices were up 11% in first quarter 2023 compared to …
