The Federal Reserve’s bank-supervision chief called for an extensive reevaluation of how the institution oversees US financial firms following the failure of Silicon Valley Bank.
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Gallagher Reveals 1Q 2003 Results
Arthur J. Gallagher & Co. (AJG) on Thursday reported first-quarter profit of $486.5 million.
Wall Street’s New Trade: Covid-19 Insurance Claims
The nation’s gambling hub has a new high-stakes wager: Covid-19 insurance claims.
AIG Forms Private Client Select Insurance Services, An Independent MGA
American International Group today announced that it has finalized its agreement with funds managed by Stone Point Capital LLC to form Private Client Select Insurance Services, an independent Managing General Agency to serve High Net Worth and Ultra High Net Worth markets.
2022 U.S. Traffic Deaths Down: NHTSA
The National Highway Traffic Safety Administration has released its latest projections for traffic fatalities in 2022, estimating that 42,795 people died in motor vehicle traffic crashes.
Norfolk Southern Estimates Ohio Derailment Will Cost $387M
Norfolk Southern expects February’s fiery Ohio derailment to cost it $387 million, but that total will likely increase over time and that doesn’t reflect how much the railroad’s insurance companies will eventually cover.
Marsh Launches Fast Track, Bringing Significant Additional Insurance Capacity to Global Market
Marsh announced the launch of Fast Track, an insurance facility that will bring a substantial amount of additional “follow form” capacity to its clients globally across major lines of business.
WTW Posts 65% Rise in First-Quarter Profit on Revenue Gains
WTW’s net Income for the first quarter of 2023 was $206 million, an increase of 65% compared to net income of $125 million in the prior-year first quarter.
Economic & Cyber Risks Increasing Concerns for Directors and Officers
Economic and cyber risks, particularly those associated with data loss and ransomware, are causing increasing concern for directors and officers, according to a global directors’ and officers’ liability 2023 survey from WTW and Clyde & Co.
Digital Insurance Market Policygenius to Be Acquired by Eldridge’s Zinnia
Online insurance marketplace Policygenius has agreed to be acquired by fellow digital insurance platform Zinnia, to create a tech-focused platform covering the full insurance process.