Great American Insurance News

Three Insurers Reject Chevron’s $57 Million Claim for Iran Oil Seizure

Three insurance companies have rejected Chevron’s claim over the seizure last year of an oil cargo by Iran, according to a complaint filed on Tuesday in a U.S. court in California. The Chevron-chartered tanker Advantage Sweet was boarded by Iranian …

People Moves: Great American Promotes Mulvey; Rivera Succeeds Lubrano at Berkley Product Recall; Fusion Names U.S. Team for M&A

Great American Promotes Mulvey to Divisional President Great American Insurance Group recently announced the promotion of Michael B. Mulvey to divisional president within its FCIA, the division that underwrites trade credit and political risk Mulvey joined FCIA in 2012 as …

Great American Introduces Home-Based Business Coverage

Great American Insurance Group has introduced a new product offering through PolicySweet, its online offering for small business customers. PolicySweet, which allows small business owners to research, shop, quote and purchase insurance online, is expanding its coverage to include HomeHQSM, …

Erie’s Banocy Joins Great American Insurance as Innovation Strategy VP

Great American Insurance Group has hired Christopher M. Banocy as divisional vice president for Innovation Strategy within its Property & Casualty Group. In this role, Banocy will provide leadership, strategy, and direction surrounding the company’s innovation efforts. He joins Great …

Insurers Begin to Offer Cryptocurrency Theft Cover, Tackling Risks of Growing Sector

Major global insurers are starting to offer protection against cryptocurrency theft, willing to tackle daunting challenges it brings rather than miss out on this volatile and loosely regulated, but rapidly growing business. So far only a few insurers sell such …

Transportation Insurer National Interstate Promotes Skuggen, Adds AIG’s Blankenship

National Interstate Insurance Co. announced the promotion of George Skuggen to senior vice president and the hiring of Steve Blankenship as vice president, Passenger Transportation. In his new role, Skuggen will oversee National Interstate’s Truck and Environmental, National Accounts and …

Chubb, Assurance, American Financial Tops in P/C Insurer Performance: Fitch Rating

Niche property/casualty insurer Assurant Inc., diversified multi-line writer The Chubb Corp. and specialty commercial lines insurer American Financial Group Inc. are ranked the top three performers over the most recent five-year period in a Fitch Rating report. The statutory financial …

Great American Insurance Establishes Specialty P&C Division in Mexico

Great American Insurance Group announced today that the Mexican Insurance Commission has granted formal approval to extend the license of its local company, El Águila CompaΓ±Γ­a de Seguros, S.A. de C.V., to establish a specialty property & casualty operation in …

Reith to Join Marketform Managing Agency as Chief Executive Officer

American Financial Group Inc.* announced that Martin Reith has been appointed chief executive officer of Marketform Managing Agency, which operates Syndicate 2468 at Lloyd’s of London, effective November 2015. Reith has over 25 years’ experience across underwriting, management and leadership. …

Great American, Landy Agency to Offer Professional Liability Insurance

Great American Insurance Group’s Professional Liability Division has formed an alliance with the Herbert H. Landy Insurance Agency to offer professional liability insurance to real estate agents, brokers, appraisers and accountants. This new program will be available in all states, …