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 …
First quarter net income at Travelers Cos. fell 4% to $975 million as catastrophes cost the insurer a total of about $535 million during the first three months of the year. Catastrophe losses, coupled with a $48 million first quarter …
Progressive Corp. today reported first quarter net income of about $448 million – a 43% increase compared to the same time last year – though the insurer booked a nearly $152 million loss for the month of March. At the …
Today’s hard U.S. commercial property insurance market — one that is the longest and toughest seen during the careers of even the most seasoned industry veterans — is likely here to stay for a while. “This is the hardest property …
A federal judge on March 28 denied an appeal, largely made by insurers, to strike down the Boy Scouts of America’s reorganization plan approved last year to allow the nonprofit to settle tens of thousands of sexual abuse claims. The …
A Rite Aid Corp. shareholder on March 20 filed a securities class action lawsuit against the company as well as former and current executives, alleging Rite Aid has given false or misleading statements regarding its alleged distribution of unlawful opioid …
Calling the trend “worrying,” J.D. Power’s new property claims satisfaction report indicated that insurers’ digital tools to speed the claims process are not pleasing homeowners insurance customers, especially for longer-tail claims tied to catastrophes. According to the J.D. Power 2023 …
Stabilization” and “moderation” continued to be the operative words for premium increases in the commercial property/casualty market, but many clients remain concerned about future hikes, according to a new survey from The Council of Insurance Agents & Brokers. Overall, premiums …
Had the federal government not stepped in to make Silicon Valley Bank (SVB) depositors whole, providers of directors and officers insurance for startups and venture capitalists – as well as financial institutions supporting these entities – would have been staring …
Silicon Valley Bank (SVB) on Monday was hit with what appears to be the first federal securities class-action lawsuit against it, carrying allegations that the bank made false or misleading statements pertaining to the potential impact rising interest rates could …
