Banking industry news and updates
Axa XL is set to enhance its U.S. wholesale operations by launching a dedicated excess and surplus lines insurance company in 2027.
A jury in New Mexico ruled that Meta misled residents about data handling practices, particularly concerning the Cambridge Analytica scandal.
CNA Financial leads a group of insurers settling for $177 million to resolve abuse claims against the Diocese of Buffalo, marking a critical step in bankruptcy proceedings.
In 2023, California's workers' compensation benefit payments soared 7.1% to $13.88 billion, outpacing national growth and surpassing three states combined.
Aon has introduced a global facility to cater to the growing demand for onshore renewable energy projects, offering significant coverage options.
Liz White has been appointed chief commercial officer at Bridge Specialty Group, focusing on business growth and market relationships.
Liberty Mutual has appointed Shaun Sinniah as the head of capital solutions, aiming to enhance underwriting and expand business opportunities.
Homeownership and low mortgage rates are leading many potential hires to hesitate on relocation, complicating recruitment for businesses.
The Nevada appeals court partially reinstates a juvenile probation officer's workers' comp claim, affirming medical evidence despite negative X-ray results.
Marsh Risk promotes Alexander Reath to lead its U.S. real estate and hospitality practice as Duncan Ellis departs for new opportunities.
CFC now offers expanded cyber insurance for financial institutions, integrating AI threats into its proactive policy, with limits up to $5 million.
Chubb has appointed Sean Ringsted as chief scientist to spearhead its global AI and analytics initiatives, alongside key leadership changes in digital business.
A Tennessee judge denies a librarian's request for mental health benefits, citing lack of cooperation and insufficient evidence of a mental injury.
The 5th Circuit Court upheld a ruling that Tokio Marine's insurer isn't liable for lawsuits related to "My 600-lb Life," citing an unambiguous show exclusion.
Brown & Riding introduces a specialized agribusiness practice to enhance insurance solutions for the agricultural sector, led by expert David Chipp.
Chris Grady has been elevated to president of CRC Specialty and Benefits, marking a strategic leadership shift within the organization.
A federal appeals court ruled that a Kentucky foster care facility's insurers aren't liable for a settlement in a wrongful death case involving a restrained child.
Middlesex Insurance seeks $3.5 million after a fire at RingSide Steakhouse, blaming improper maintenance by cleaning and service companies.
MNK Group Holdings Ltd. has acquired Danish insurer ETU Forsikring, enhancing its operations as MNK's first dedicated risk carrier in the EU.
Transit expenses for oil tankers through the Strait of Hormuz have skyrocketed, now ranging from $10 million to $20 million due to heightened insurance costs.