Allianz agreed to sell Fireman’s Fund, its U.S. insurance unit for mid-sized corporations and entertainment industry clients, to Bermuda-based Arch Insurance for $450 million in cash, the German insurer said on Friday.
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Commercial Rates in U.S. Up 3.9% on All Property and Casualty Placements
In the United States, the composite rate for commercial insurance in the first quarter of 2024 was up 3.9%, a notable decline from the fourth quarter of 2023, which was plus 5.6%.
Conifer Moves Commercial Lines to MGA Model, Exits Oklahoma Homeowners Line
Conifer Holdings Inc. is moving to managing general agency business model for its commercial lines business, as it moves its catastrophe-hit Oklahoma homeowners business into runoff, said its chief executive officer.
Data Firm Multiplan Helps Health Insurers Make More with Out-of-Network Claims
Weeks after undergoing heart surgery, Gail Lawson found herself back in an operating room. Her incision wasn’t healing, and an infection was spreading.
Colorado Lawmakers Consider Bill that Would Require Firearm Liability Insurance
A bill that would require liability insurance for all firearms in Colorado narrowly passed out of the House Business Affairs and Labor Committee on a 6-5 vote Thursday evening.
SEC Accepts Pause on Its Climate Rule
The Securities and Exchange Commission said Thursday it would pause the implementation of its new climate disclosure rule while it fights in court over the measure’s legality.
CSU Predicts ‘Extremely Active’ 2024 Atlantic Hurricane Season
Weather forecasters at Colorado State University (CSU) on Thursday predicted an “extremely active” 2024 Atlantic hurricane season because of warm sea surface temperatures and less wind shear to break up storms in the summer and fall.
Global M&A Endures Headwinds with Pick Up in 1Q Deal Closures
Global mergers and acquisitions (M&A) achieved a modest rise in completed deals in the first quarter of 2024 compared with the same period last year, according to research from leading global advisory, broking and solutions company WTW’s Quarterly Deal Performance Monitor (QDPM).
New York AG Questions Trump’s $175 Million Bond Deal
The New York attorney general’s office on Thursday took exception to a $175 million bond that Donald J. Trump recently posted in his civil fraud case, questioning the qualifications of the California company that provided it.
Deepfakes Are Coming for the Financial Sector
Deepfakes have long raised concern in social media, elections and the public sector. But now with technology advances making artificial intelligence-enabled voice and images more lifelike than ever, bad actors armed with deepfakes are coming for the enterprise.