AIG Fires Interim CFO Lyons
AIG late Monday terminated interim Chief Financial Officer Mark Lyons after he "violated his confidentiality/non-disclosure obligations," the company said.
Westfield National Insurance Co. and Motorists Mutual Insurance Co. are not required by their insurance contracts to defend generic drug distributor Quest Pharmaceuticals ... Insurance software provider Duck Creek Technologies said it has entered into an agreement to be bought by Vista Equity Partners in an all-cash deal of about $2.6 ... State Farm's claims handling process is the subject of a new lawsuit alleging disparities between the insurer's treatment of claims from Black policyholders versus claims ... State Farm CEO Michael Tipsord said the nation's top property/casualty insurer will likely never be the same following the pandemic — and that may be a good ... More than a quarter of InsurTechs will leave the insurance marketplace in 2023 — just a couple years after investments in the space were at an all-time high, according ...
Auto Insurance Shopping – and Switching – Increases
Drivers are not only shopping around for auto insurance more than ever, they are switching carriers. According to a quarterly report from J.D. Power, in collaboration with TransUnion, the quote rate ...
At-Bay Acquires Licensed P&C Insurance Carrier
Managing general agent At-Bay said it has acquired an excess and surplus lines insurer licensed in 44 states from XL Insurance America to now become a full-stack carrier. "This milestone will allow ...
Q4 Net Income at Travelers Falls 39%
Travelers Cos. this morning reported fourth quarter net income of $819 million, a decrease of about 39% from $1.3 billion a year ago during the same time. The insurer's Q4 combined ratio increased ...
Appeals Court Rules Insurers Not Obligated to Defend Distributor of Opioids
Vista Equity Partners to Buy Duck Creek for $2.6B Cash
Lawsuit Against State Farm Alleges Racial Discrimination in Claims Handling
State Farm Still Dealing With Return of Its Workforce: CEO Tipsord
State Farm Will Start Hiking Auto Rates, Allstate CEO Predicts
Allstate's chief executive officer said his company will likely continue pushing for auto insurance rate hikes next year, and he expects the carrier's largest mutual competitor—State Farm—to move ...
Many InsurTechs Exit the Marketplace, and Other 2023 Predictions From Forrester