April 24, 2024
Standard Chartered Plc is facing about £1.5 billion ($1.9 billion) worth of investor claims at a London trial over allegations it systematically breached Iranian sanctions to win new business. A London judge ruled on Friday [April 19] that the trial, …
April 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 earlier this month. Melinda Brantley, Nicholas Lardie, and Daniel Koos worked as claims examiners …
April 24, 2024
Generative artificial intelligence (AI) has sparked a lot of interest from insurers and reinsurers because of its potential to revolutionize innovation, cut costs and improve the customer experience. Generative AI (or “Gen AI”) is the term used for technology that …
April 24, 2024
AM Best placed under review with developing implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of the members of GeoVera Insurance Group in Fairfield, California. Coastal Select Insurance …
April 24, 2024
Omaha National Group Inc. acquired Sutter Insurance Co., a California domiciled carrier. Sutter Insurance has been renamed Omaha National Casualty Co. Omaha National also owns Omaha National Insurance Co., which is domiciled in Nebraska. Omaha National, now licensed to issue …
April 24, 2024
April Hurley’s attacker entered her apartment after identifying himself as the building maintenance man — a job he should never have obtained, according to a lawsuit filed Monday that accuses the property owner and management company of engaging in negligent …
April 24, 2024
Amy Chadwick spent years scrimping and saving as a single mother of two to buy a house in the town of Lahaina on the Hawaiian island of Maui. But after a devastating fire leveled Lahaina in August and reduced Chadwick’s …
April 24, 2024
UnitedHealth Group said on Monday that hackers stole health and personal data of potentially a “substantial proportion” of Americans from its systems in February, as the largest U.S. health insurer scrambles to contain the damage. The intrusion at its Change …
April 23, 2024
Iowa will lower the amount of reinsurance tax due from some captive companies under a bill signed by Governor Kim Reynolds last week. HF 2636 lowers the tax on premiums written above $60 million to 0.02 percent, down from 5 …
April 23, 2024
Chubb started 2024 off with first quarter net income up 13.3%, compared to the same time a year ago, to about $2.1 billion. The first three months of 2024 followed a year Chubb CEO Evan G. Greenberg called the “best …