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Outdated technology, poor software maintenance, and the dreaded clicking of a malicious link were most to blame for cyber insurance claims experienced by policyholders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 …
W.R. Berkley Corp. President and CEO Robert Berkley said the insurer is not going to follow the directors and officers market “down the drain.” During a call with analysts to discuss first quarter earnings, Berkley said the D&O marketplace, especially …
American International Group said first quarter 2023 underwriting income in its general insurance segment was $502 million, “representing the strongest first quarter underwriting results AIG has achieved,” said CEO Peter Zaffino. Net premiums written in general insurance increased 5% to …
Chubb CEO Evan Greenberg said 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 lines. “What social purpose does litigation funding …
The Hartford Financial Services reported first quarter 2023 net income of $535 million, nearly a 21% increase over $443 million a year ago. In the company’s property/casualty segments, results were carried by net income of $421 million in commercial lines …
Markel Corp. reported first quarter 2023 net income of $537.8 million compared to a loss of about $48.8 million a year ago. Net investment gains during the first three months were about $372.6 million compared to a loss of $358.4 …
First quarter net income at Chubb Ltd. fell several percentage points to about $1.9 billion as catastrophe losses evened gains in premiums written. P&C underwriting income was about $1.21 billion, down 5.5% from about $1.28 billion the prior year first …
A member of the American Bar Association (ABA) has filed a class-action lawsuit against the organization related to a recent data breach. Tiffany Troy, on behalf of herself and other affected members, filed the suit in U.S. District Court for …
