Industry News

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NY Governor Moves to Ban Insurers From Denying Landlords Coverage Due to Low-Income Tenants

Apr 24, 2024 New York Gov. Kathy Hochul enacted a $237 billion state budget that includes language prohibiting insurers from denying...

Former AIG Exec Appointed BMS Re US Chief Operating Officer

Apr 24, 2024 BMS Re appointed former American International Group Global Chief Operating Officer of Reinsurance John Canavan as its U.S. COO. He will direct digital...

California Hospital Association Sues Anthem Blue Cross for Violating State's Patient Protection Laws

Apr 24, 2024 The California Hospital Association filed a lawsuit against Anthem Blue Cross, claiming it consistently...

Ping An Posts Lower First-Quarter Profit on Guarantee Insurance, Weather Effects

Apr 24, 2024 Ping An (Group) Co. of China Ltd. posted lower first-quarter profit as the property/casualty combined ratio was hit by the effects of...

Insurance Journal

People Moves: BHSI Names Humble as Head of Customer & Broker Engagement for South Central

Apr 24, 2024 Berkshire Hathaway Specialty Insurance (BHSI) today announced that it has appointed Hart Humble to the newly created role of Head...

Chubb Wins Latest Battle With New York Diocese in Bid to Avoid Sex Abuse Claims

Apr 24, 2024 A New York state appeals court has reinstated Chubb insurance companies’ bid for judgments declaring that they are not obligated to cover...

AM Best Downgrades Credit Rating of Texas Farm Bureau Insurance Group

Apr 24, 2024 AM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR)...

Marsh McLennan Agency to Buy Fisher Brown Bottrell for About $316M

Apr 24, 2024 Marsh McLennan Agency, a subsidiary of Marsh, said it has a definitive agreement to acquire one of the largest agencies in the Southeast—Fisher Brown Bottrell...

Claims Journal

Boeing Crash Victims’ Families Seek to Share Evidence With DOJ

Apr 24, 2024 U.S. Justice Department officials will meet Wednesday with families of Boeing Co. 737 Max crash victims even as they investigate the company’s operations in the...

Florida’s Home Insurance Industry May Be Worse Than Anyone Realizes

Apr 24, 2024 Seven property insurers in Florida went bankrupt in 2021 and 2022. The bankruptcies left thousands of homeowners scrambling to get new coverage, which often came...

Jury Awards $80M to 3 Former Zurich NA Employees for Wrongful Termination

Apr 24, 2024 Zurich North America was ordered by a California jury to pay three former employees a total of about $80.2 million to end a wrongful termination case...

UnitedHealth Data Leak May Affect ‘Substantial’ Swath of U.S.

Apr 24, 2024 UnitedHealth Group Inc. found files containing private information on a vast number of Americans whose data may have been compromised in a February cyberattack that...