Articles by Jef Feeley and Katherine Chiglinsky

Insurers Winning Most, But Not All, COVID-19 Business Interruption Lawsuits

In the multibillion-dollar fight over insurance coverage for pandemic-related business losses, a Florida gynecologist succeeded where more than a dozen professional baseball teams and an iconic Hollywood restaurant failed. Since COVID-19 sparked government-ordered shutdowns in March, judges have dismissed more …

Allstate Hires Only Banks Owned by Minorities, Women, Veterans for Big Bond Sale

Allstate Corp. hired solely banks owned by minorities, women or veterans for its bond sale, in the biggest corporate deal yet managed only by diverse firms. The insurer enlisted Loop Capital Markets, Academy Securities, Samuel A. Ramirez & Co., Siebert …

AIG Settles Foreign Tax Credit Dispute With U.S.

American International Group Inc. settled a case involving cross-border transactions the government claimed amounted to improper tax shelters. The insurer agreed to pay a 10% penalty and disallow more than $400 million in foreign tax credits as part of the …

Four Senior-Level Black Managers Including Diversity Leaders Exit AIG

American International Group Inc. has lost four senior Black managers in recent weeks, including two who were tasked with improving the diversity of the insurer’s ranks. Global inclusion head Vievette Henry and Walter Hurdle, who had previously run diversity efforts …

Insurers’ $158 Billion CLO Bet Is Putting the Industry at Risk

They’ve been billed as a solution to the rock-bottom interest rates weighing down the returns of America’s asset managers. Collateralized loan obligations — which package and sell leveraged loans into chunks of varying risk and return — promise safety and …

Home Insurance Insurtech Hippo Raises $150M as It Readies for IPO in 2021

Hippo Enterprises Inc., hot on the heels of rival home insurance technology business Lemonade Inc. going public, has closed a $150 million financing round. The Palo Alto, California-based startup is valued in the investment at $1.5 billion, according to the …

Houston Rockets Becomes First NBA Team to Sue Insurer Over Denied Covid-19 Claims

The Houston Rockets and billionaire owner Tilman Fertitta are suing their insurer for denying the National Basketball Association team’s bid to tap its business-interruption insurance policy over revenue losses from the Covid-19 pandemic. Fertitta’s Rocket Ball Ltd. and Clutch City …

Companies Press Insurance Brokers for Workarounds to Rising D&O Costs

When Elon Musk said in April he was dropping the insurance policy that protects Tesla Inc.’s board from shareholder lawsuits, it got Skip McBride’s attention. To McBride, who used to manage law firm Bracewell LLP’s malpractice exposure, Musk’s decision to …

Global Insurers Pulled into Epicenter of COVID-19 Crisis, Firmly in Uncharted Territory

Roger Federer and Rafael Nadal locked in spell-binding battle. Paul McCartney sharing a stage with Kendrick Lamar and Taylor Swift. The long-awaited 32nd Olympic Games. The list of canned crowd-thrillers that were planned for the coming weeks isn’t just bad …

Zaffino, AIG’s No. 2, Fights to Turn Around the House That Hank Greenberg Built

American International Group Inc.’s Peter Zaffino drew a clear line ahead of his jump to the insurer almost three years ago. “I didn’t want any advice,” Zaffino, AIG’s president, said in a rare sit-down interview. “I needed to see things …