LIberty Mutual News

Update: Liberty Mutual Conducts Strategic Review of Pembroke Managing Agency

Liberty Mutual Insurance announced it is undertaking a strategic review of its London-based Pembroke Managing Agency Ltd., acquired through the lronshore purchase in May of 2017. The company has retained Evercore to serve as its adviser during the process. A …

Top 10 Causes of Serious Workplace Injuries: Liberty Mutual Index

The U.S. workplace is getting safer but the cost of the most serious workplace injuries is rising, according to the findings of the most recent Liberty Mutual Workplace Safety Index. The number of the most serious workplace injuries and illnesses …

Liberty Mutual Launches New Umbrella, Contractor’s Equipment Policies

Liberty Mutual has introduced two new policy forms – umbrella and contractor’s equipment – designed to make it easier for brokers to meet a broader set of coverage needs for their customers. Liberty Mutual’s new, simplified umbrella form offers broader …

Progressive is the Latest to Comply with New York Auto Insurance Rate Regulation

A fourth major auto insurance company in New York has reached a compliance agreement with the New York Department of Financial Services (DFS) regarding DFS’ final regulation against discriminatory auto insurance rates. Progressive has informed Financial Services Superintendent Maria T. …

Blockchain Insurance Industry Initiative, B3i, Forms Company Called ‘B3i Services’

The Blockchain Insurance Industry Initiative (B3i) announced the incorporation of B3i Services AG in Zurich, Switzerland. The company was formed by the founders of B3i, which previously operated as a collaborative initiative of 15 global insurers and reinsurers who came …

Allianz Acquires Liberty International’s U.S. Product Recall Business Renewals

Allianz Global Corporate & Specialty (AGCS) is acquiring the renewal portfolio of Liberty Mutual Insurance’s U.S. product recall and special contingency business. The effective date is Jan.30, 2018. The business being acquired was written through Liberty International Underwriters (LIU) U.S., …

Liberty Mutual Sells Off Life Insurance Unit, Realigns U.S., Global P/C Business

Liberty Mutual is getting out of the life insurance business, and the insurer will reorganize in order to better focus on its remaining P/C businesses. The Boston-based global insurer said it will sell its life insurance arm – Liberty Life …

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, …