Industry News
New Jersey Announces $450M PFAS Settlement With 3M Days Before Trial
New Jersey officials announced a landmark settlement of up to $450 million with 3M Company to resolve the state's lawsuits and address damage to the state's water and other natural resources from ...
Zurich NA Names New U.S. National Accounts, Underwriting Leaders
Zurich North America announced key leadership changes in connection with the impending retirement of Paul Lavelle, previously head of U.S. National Accounts. Heather Fox moves into that role, leading ...
Former XL CEO McGavick Returns to Insurance With AI Firm Mea Platform
Mike McGavick is returning to the insurance world as a strategic advisor and board chairman of Mea Platform, an artificial intelligence firm focusing on transactions and operations for carriers, ...
Prymas Appointed CEO of Tokio Marine Highland
Tokio Marine Highland (TMH) has appointed insurance veteran Steve Prymas as Chief Executive Officer, effective June 1.
Prymas succeeds ...
At RIMS, Sedgwick Experts Outline Key Workers Comp Claims Trends
At last week's RIMS RISKWORLD conference in Chicago, two experts from risk and claims administration partner Sedgwick outlined a few key workers compensation trends worth ...
As Execs Eye AI for Fraud Detection, Deloitte Predicts Billions in Savings
With a growing share of insurance executives viewing generative artificial intelligence as a tool for streamlining and improving functions like fraud detection, Deloitte predicts that AI technologies ...
Too Late? S&P Downgrades State Farm General (Updated)
Standard & Poor's Global Ratings announced a two-notch downgrade of State Farm General on May 13—on the same day that California's regulator approved an interim emergency homeowners rate ...
State Farm’s Emergency Homeowners Rate Hike Gets OK in California
State Farm General can move ahead with a proposal to raise California homeowners rates on an emergency interim basis, following years of financial stresses that depleted its surplus and billions of ...