Chubb has a very good second quarter in both underwriting and investments, reporting net income of $1,294 million compared with $1,305 million for the same quarter last year. P/C net premiums written increased 5.6 percent to $7.5 billion and global …
For the second time in about a week, a federal appeals court has sided with a commercial policyholder where the insurer denied coverage under a computer fraud provision of a crime insurance policy for a money transfer involving fraudulent emails. …
Tax reform, a growing economy and lower catastrophe losses helped U.S. property/casualty insurers more than double their first quarter profit this year. Insurers’ net income after taxes surpassed $17 billion during the first three months of the year, compared to …
In a closely-watched case on insurance coverage in an age of expanding cyber risk, a federal appeals court in New York has upheld a lower court ruling that a commercial crime insurance policy covers wire transfer losses resulting from a …
At least eight people lost their lives in fireworks mishaps in 2017 while another 12,900 ended up in hospital emergency rooms with injuries. The deaths in 2017 included a four-year old Wisconsin girl who died from shrapnel when a metal …
Lloyd’s of London today announced that Chief Executive Officer Inga Beale will step down next year after leading the global insurance and reinsurance market for five years. An exact departure date has not yet been set. Beale joined Lloyd’s in …
The U.S. Senate passed (86-11) a Farm Bill that continues subsidies for farmers along with the federal crop insurance and food stamp programs for five years. The $867 billion Senate bill also contains an amendment to prevent the National Flood …
Insurer AmTrust Financial Services said that AmTrust stockholders have approved a deal for it to become a private entity, a deal that values it at $2.95 billion and was negotiated after activist investor Carl Icahn opposed a previous proposal. The …
Two leading U.S. property/casualty insurance carrier trade groups are talking about merging. The American Insurance Association (AIA) and the Property Casualty Insurers Association of America (PCI) said their respective boards have approved moving ahead with merger talks and due diligence, …
Hollywood movie mogul Harvey Weinstein is asking that a jury decide whether his insurer must defend him against 14 lawsuits accusing him of sexually harassing and assaulting women over several decades. Weinstein contends that Federal Insurance Co., a Chubb subsidiary, …
