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 …
The Hartford confirmed this week it will discontinue writing new homeowners policies in California. The carrier reportedly has less than 1% of the state’s homeowners market. The Hartford issued the following statement following a request for comment for this article: …
Rice University has set aside $33.75 million to settle an antitrust lawsuit filed against 17 prestigious private universities across the country accused of illegally running a scheme that limited the amount of financial aid given to students, according to the …
Jewelers Mutual Group, headquartered in Neenah, Wis., hired two new leadership team members. Nick Tenekedes is now senior vice president of digital solutions. Tenekedes joins Jewelers Mutual with over 15 years of experience. Most recently, Tenekedes was the vice president, …
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 …
Missouri consumers had more than $27.5 million returned from their insurance companies in 2023, the Missouri Department of Commerce and Insurance (DCI) announced. The amount returned to Missouri consumers was a result of DCI’s Insurance Consumer Affairs Division’s mediation work …
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 …
Insurance broker Patriot Growth Insurance Services and its partner insurance agency FBinsure of Taunton, Massachusetts announced that they recently added Maggiacomo Insurance, Hanuschak Insurance, and Gilmartin Insurance of the Rhode Island Insurance Group to the Patriot platform in the Northeast. …
Workers’ compensation loss costs in Tennessee will drop an average of 9.4% for the voluntary market starting March 1, marking the 11th straight decrease for the state. The decrease follows declines of 10.2% in 2023 and 5.6% in 2022, the …
