December 5, 2024
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a+” (Excellent) of the property/casualty (P/C) subsidiaries of CNA Financial Corporation, …
June 6, 2024
CNA Financial Corp. said it is promoting Doug Worman, currently executive vice president and global head of underwriting, to president and chief executive officer starting in 2025. Current CEO Dino E. Robusto will transition to a role of executive chairman …
February 9, 2024
Fourth quarter net income at CNA Financial Corp. was up about 54% to $367 million, and net income for the year increased 77% to a record $1.2 billion. CNA said its property/casualty segments recorded net premium growth during the quarter …
November 9, 2023
Several days after he was found guilty of one of the biggest financial frauds on record, FTX founder Sam Bankman-Fried dropped an insurance coverage lawsuit against excess insurance company Continental Casualty Co. Shortly before his trial began in early October, …
July 28, 2023
The Catholic Diocese of Rochester and sexual abuse survivors have reached settlements with additional insurers on amounts available to cover abuse claims, bringing the total fund now available to survivor claimants to $126.35 million. The latest settlements are with insurers …
April 20, 2023
Thomas F. Motamed, an industry veteran who started his career as a claims trainee and eventually led some of the largest insurers in the world, died of brain cancer on Tuesday. He was 74 years old. Motamed was most recently …
February 14, 2023
The distribution and severity of nurse practitioner (NP) office practice setting claims have increased sharply since 2017, according to a new report from CNA in collaboration with its business partners at Nurses Service Organization (NSO), “Nurse Practitioner Professional Liability Exposure …
November 2, 2022
Net income at CNA Financial Corp. was down 50% for third quarter of 2022 compared to the prior year quarter, while property/casualty core income grew on improved underwriting performance. The insurance holdings company reported net income of $128 million for …
August 2, 2022
Second quarter earnings at The Hartford fell to $437 million – about 51% less than the same period a year ago. Hartford said it booked a $485 million before-tax change from net realized gains to net realized losses during Q2. …
March 16, 2022
Since the start of the war in Ukraine, the number of cyber incidents in the U.S. has increased, and underwriters will need to adapt, according to a panel of experts at the PLUS Cyber Symposium. “There’s no doubt that attacks …