This year’s January reinsurance renewals were described by brokers as “stable,” “predictable,” “orderly,” “calmer,” “disciplined,” with “increased appetites” and a return to supply/demand balance. What a difference in tone from last year’s grueling January renewals. “In a marked change on …
The tiny Aliquippa water authority in western Pennsylvania was perhaps the least-suspecting victim of an international cyberattack. It had never had outside help in protecting its systems from a cyberattack, either at its existing plant that dates to the 1930s …
The Travelers Cos. completed its previously announced acquisition of Corvus Insurance Holdings Inc., a cyber insurance managing general underwriter. The $435 million acquisition was first announced in November 2023, which Travelers said would boost its middle-market excess and surplus lines …
U.S. property/casualty insurance carriers led layoffs in the insurance industry last year, according to S&P Global Market Intelligence analysis. Nearly 20 companies reduced staff in 2023, cutting at least 6,800 jobs, said the authors of the report, Tyler Hammel and …
Church Mutual Insurance Company, S.I. promoted Alan S. Ogilvie from president to president and chief executive officer, effective Jan. 1, 2024. Ogilvie assumed the role from Rich Poirier, who has retired after 12 years of service to the company. Ogilvie …
McKinsey & Co. is poised to pay $78 million to health insurers and company benefit plans, in its latest settlement of lawsuits over its role advising opioid makers in their sales of the painkillers. The proposed accord, filed in federal …
Even before Virginia lawmakers passed a tough new law against organized retail crime earlier this year, Bradley Haywood, a public defender in Arlington, Virginia, challenged the rationale. The idea that retailers in the state had lost billions to organized theft …
Dyad, Inc., formerly XDimensional Technologies and I-Engineering, a provider of insurance software and services backed by Serent Capital, has launched today following XDimensional Technologies’ acquisition of I-Engineering in June 2023. These two experienced companies with proven track records are now …
U.S. prosecutors said they do not plan to conduct a second trial against Sam Bankman-Fried, who was convicted last month of stealing from customers of his now-bankrupt FTX cryptocurrency exchange. In a letter filed on Friday night in federal court …
When you buy eyedrops at a U.S. store, you might assume you’re getting a product made in a clean, well-maintained factory that’s passed muster with health regulators. But repeated recalls involving over-the-counter drops are drawing new attention to just how …
