LIberty Mutual News

N.Y. Finalizes Regulation to Protect Drivers from Unfair Auto Insurance Rates

The New York Department of Financial Services (DFS) has finalized a regulation that protects New York drivers from unfairly discriminatory auto insurance rates and has already reached agreements with two major insurers regarding the regulation. Liberty Mutual and Allstate have …

Homeowners Fear Losing Insurance in Midst of California Fires

California homeowners and regulators have a new fear about wildfires ravaging the state: that insurers will drop coverage. Massive, out-of-season fires in northern and southern California are causing billions of dollars in claims and challenging expectations of when and where …

Pioneer Underwriters & Lloyd’s MGA Asta Get Initial Nod to Set Up Lloyd’s Syndicate

Pioneer Underwriters and Asta, the third party managing agent at Lloyd’s, announced they have received “in principle” approval from Lloyd’s to establish a syndicate. Pioneer commenced underwriting in 2011 and has built a hybrid underwriting operation in the Lloyd’s market, …

Travelers’ Cunningham Joins Liberty Mutual to Lead National Insurance Property

Liberty Mutual Insurance has appointed Gregg Cunningham as executive vice president, National Insurance, and general manager, National Insurance Property. Cunningham, who has 25 years of commercial insurance experience, leads the area of Liberty Mutual that provides property insurance, inland marine …

New Construction Coverage From Liberty Mutual, Ironshore Targets Integrated Projects

Liberty Mutual and Ironshore’s dedicated construction practices have introduced an Integrated Primary Wrap Up/Project Specific program offering general liability (GL) and professional liability (PL) protection for medium and large construction projects developed through design-build or integrated project delivery (IPD). Workers’ …

Some Auto Insurers Illegally Charge Michigan Women More, Researcher Says

A group defending Michigan’s auto insurance system says it has uncovered instances of insurers illegally selling more expensive policies to women and widowed drivers, raising questions about state oversight of rating practices as the industry pushes lawmakers to contain high …

Liberty Mutual Enhances Commercial Insurance Property Form

Liberty Mutual’s has launched a new proprietary Premier Property Protector all-risk policy to accommodate all of a broker’s single carrier and shared and layered property coverage needs. According to Mike Fallon, president of National Insurance, Liberty Mutual’s business unit that …

Brave New World: 1st Reinsurance Product Heads to the Blockchain

Second of Two Articles There has been a lot of press – and perhaps hype – about blockchain and its potential to revolutionize the industry’s processes and ultimately improve the customer experience. However, the efforts of the industry’s B3i initiative …

Ironshore Raises Capacity for M&A Cover, Tax Consortium Launched

Ironshore International’s Mergers & Acquisitions and Tax Insurance unit has enhanced its consortium programs to meet client and broker demand for larger, streamlined limits. Ironshore will increase the capacity for its Mergers & Acquisitions Consortium to £100 million ($129.8 million), …

There’s No ‘Typical’ Day in the Work Cycle for Whirlpool’s Risk Manager

How does a company incorporate a sustainable and cohesive risk management system for an enterprise with nearly 100,000 employees, 70 manufacturing and technology research centers located in 170 countries around the world, and $21 billion in annual sales? It’s a …