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Tag: insurance-journal

Public D&O Price Decreased 5.2% in Second Quarter, Says Aon
Insurance Journal | July 30, 2024
Public D&O Price Decreased 5.2% in Second Quarter, Says Aon
The average price for directors & officers liability insurance decreased 5.2% per $1 million in limits in the second quarter, according to Aon Commercial Risk Solutions. Aon said the decrease compared to the same quarter in 2023 was the ninth …
Nationwide Plans 5% Reduction in Employee Headcount
Insurance Journal | July 30, 2024
Nationwide Plans 5% Reduction in Employee Headcount
Insurer Nationwide said late last week that it is reducing its headcount by about 5% over the next year. “We can’t speculate on the total number of job impacts,” said Nationwide in a statement. “Eligible associates are able to apply …
People Moves: Gov. Moore Appoints Grant as Next Maryland Insurance Commissioner
Insurance Journal | July 29, 2024
People Moves: Gov. Moore Appoints Grant as Next Maryland Insurance Commissioner
Maryland Governor Wes Moore has named Marie Grant, an attorney with nearly 20 years of experience in insurance and health care policy and regulation, as his state’s next insurance commissioner. Grant currently serves as assistant secretary for health policy at …
Senators Call on FTC to Investigate Automakers’ Sale of Driving Data
Insurance Journal | July 29, 2024
Senators Call on FTC to Investigate Automakers’ Sale of Driving Data
Two U.S. senators are calling on the Federal Trade Commission to investigate automakers selling customers’ driving data to brokers who package it and then sell it to insurance companies. In a letter to FTC Chairwoman Linda Khan, Democrats Ron Wyden …
Tyco, TIG Insurance Agree to Settle ‘Forever Chemicals’ Fire Foam Litigation
Insurance Journal | July 29, 2024
Tyco, TIG Insurance Agree to Settle ‘Forever Chemicals’ Fire Foam Litigation
Three months after Tyco Fire Products agreed to pay $750 million to communities with groundwater affected by so-called “forever chemicals” found in fire-stopping foam, Tyco has reached a tentative settlement with one of its insurance companies. “…We write jointly on …
California Wildfire Grows to 575 Square Miles, Destroying at Least 100 Structures
Insurance Journal | July 29, 2024
California Wildfire Grows to 575 Square Miles, Destroying at Least 100 Structures
At least 100 structures have been destroyed and roughly 4,200 more are being threatened by the Park Fire, near Chico, California, which has burned 368,256 acres and now touches four counties. Containment on the Park Fire, which has 4,742 fighting …
Hurricane Beryl Caused Estimated $2-3B in Insured Losses to U.S. Property: Verisk
Insurance Journal | July 19, 2024
Hurricane Beryl Caused Estimated $2-3B in Insured Losses to U.S. Property: Verisk
Estimated industry insured losses to onshore property from wind in the U.S. for Hurricane Beryl will range between $2 billion to $3 billion, Verisk’s Extreme Event Solutions business unit said. Beryl made landfall near Matagorda Bay, Texas the morning of …
Global IT Crash That Blocked 911 Calls and Grounded Planes Eases
Insurance Journal | July 19, 2024
Global IT Crash That Blocked 911 Calls and Grounded Planes Eases
In what will go down as the most spectacular IT failure the world has ever seen, a botched software update from cybersecurity firm CrowdStrike Holdings Inc. crashed countless Microsoft Windows computer systems globally. Microsoft Corp. and CrowdStrike have rolled out …
Tesla’s California Car Registrations Fall for Third Straight Quarter
Insurance Journal | July 19, 2024
Tesla’s California Car Registrations Fall for Third Straight Quarter
Registrations of Tesla cars in California fell 24% in the April to June period, marking the third consecutive quarter that the company posted a sales drop in its key market, indicating mounting challenges for the EV maker, according to industry …
People Moves: Ohio Bar Liability Insurance Company Names Tribble as CEO
Insurance Journal | July 19, 2024
People Moves: Ohio Bar Liability Insurance Company Names Tribble as CEO
Ohio Bar Liability Insurance Company announced that John R. Tribble, MBA, CPCU, CCLA will be joining the company as its next President and CEO. Tribble has held a variety of positions during the past eight years with Church Mutual Insurance …