The Travelers Companies, Inc. today announced that it has agreed to acquire Corvus Insurance Holdings, Inc. for approximately $435 million. Founded in 2017, Corvus is an industry-leading cyber insurance managing general underwriter powered by proprietary technology.
Category: Show on Homepage
New York Adds Stiffer Requirements to Cybersecurity Rules
New York’s financial watchdog published significant updates to its cybersecurity regulations Wednesday, adding strict provisions around board oversight and ransom payments that go further than recent federal rules.
AIG Chief Zaffino: Casualty Lines Hit by Inflation and Competition
Economic and social inflation are impacting casualty lines in the market, particularly financial lines, as American International Group Inc. moved forward with several divestitures to sharpen its focus on general insurance, said its chief executive officer.
2023 Ransomware Attacks Up More Than 95% Over 2022: Corvus Insurance Q3 Report
Corvus Insurance, the leading cyber underwriter powered by a proprietary AI-driven cyber risk platform, today released its Q3 2023 Global Ransomware Report, which analyzes data from ransomware leak sites to track evolving trends.
Sam Bankman-Fried Is Convicted of Fraud in FTX Collapse
FTX founder Sam Bankman-Fried was convicted Thursday of stealing billions of dollars from customers of the doomed crypto exchange, in what prosecutors called one of the biggest financial frauds in U.S. history.
Uber, Lyft to Pay $328M to Settle NY Case They Underpaid Drivers
The NY state attorney general’s office has secured two “landmark settlements” totaling $328 million to resolve a multiyear investigation into rideshare companies Uber and Lyft that found they had cheated thousands of drivers out of hundreds of millions of dollars.
Satellite Agency Network Group Welcomes Joe Puccio to Spearhead Growth in Massachusetts
Satellite Agency Network Group, Inc. (SAN), the leading alliance of independent insurance agencies in the Northeast, is pleased to announce that Joe Puccio has joined the network as an Agency Growth Coach for the state of Massachusetts.
Insurance Prices Continue to Stabilize as Cyber Market Records Second Quarterly Decrease Since H2 2018
Global commercial insurance prices increased 3% in the third quarter of 2023, the same as the prior quarter, according to the Global Insurance Market Index released today by Marsh, the world’s leading insurance broker and risk advisor and a business of Marsh McLennan.
Allstate, Allianz Invest $265 Million in Next Insurance
Allstate and Allianz are making a sizable bet on the digital transformation of the commercial insurance market with a $265 million strategic investment in Next Insurance, an insuretech startup focused on the small business market.
Harvard Sues Insurance Broker Marsh USA for Legal Fees Incurred in Affirmative Action Suit
In the latest development in the University’s effort to recoup up to $15 million in legal fees incurred over a nearly decade-long legal battle over its affirmative action policies, Harvard has sued its insurance broker, Marsh USA.