Robert Jones has joined Coalition as the head of global claims. He will step into the role Feb. 5. Jones previously spent 32 years at AIG where he most recently served as the executive vice president of financial lines, specialty …
Fox Corp. can proceed with its claims that Smartmatic Corp.’s $2.7 billion defamation lawsuit wildly exaggerates the financial harm it suffered from broadcasts falsely accusing it of rigging the 2020 US election, a New York judge ruled. Rejecting the voting …
The criminal hacking gang LockBit said it was behind a ransomware attack that shut down some of the operations of EquiLend, a financial-technology firm that processes trillions of dollars of securities-lending transactions every month. The company, partly owned by some …
Fourth quarter net income at W.R. Berkley Corp. increased 4% compared to the same period the prior year to about $397.3 million on record pretax underwriting income of nearly $316 million, an 8.2% increase. The Greenwich, Connecticut-based commercial insurer finished …
Donegal Insurance Group, headquartered in Marietta, Penn., named two new regional vice presidents. Wes Konchar will lead Donegal’s Marietta region, comprised of Pennsylvania, Ohio, Indiana, Maine and New Hampshire. A 15-year Donegal veteran, Konchar most recently served as Donegal’s regional …
Progressive Corp. today said fourth quarter 2023 net income jumped to nearly $2 billion compared to about $826 million a year ago during the same period. The Mayfield Village, Ohio-based insurer reported some quarterly and year results as it announced …
Wall Street’s main regulator on Wednesday is set to demand more investor protections for deals involving special purpose acquisition companies, tightening rules on a once-popular pathway for taking firms public. After surging during the Covid-19 pandemic as an alternative to …
Sands Point Risk, a new managing general agent to be led by the founder of transaction risk solutions at DUAL, has been launched to serve the transaction liability insurance (TLI) sector. Dennis Kearns, who founded the transaction risk program at …
Most U.S. insurers plan to take on more investment risk in 2024, and said the risks associated with the use of artificial intelligence (AI) in the investment process are outweighed by the potential benefits of the technology. According to results …
Ivans Index found the average premium renewal rate increased year-over year for all major commercial lines except workers’ compensation, but every line of business averaged rate increases at renewal during the last three months of 2023, compared to the prior …
