A category of insurance risk that hardly existed a little over a decade ago has morphed into a meaningful source of losses for the industry. Claims tied to SRCC—strikes, riots and civil commotion—are emerging as a growing headache for insurers …
Munich Re’s primary insurance unit Ergo aims to cut about 1,000 positions in Germany, partly as a result of its increased use of artificial intelligence. The cuts affect simple and repetitive tasks in telephony and claims processing, a spokesman said …
Bayer AG is preparing to announce a $10.5 billion settlement push to resolve current and future cancer lawsuits over its top-selling Roundup weedkiller, according to people familiar with the plan. The German conglomerate is set to propose a $7.5 billion …
Brian Deephouse, vice president and chief actuary at Auto Club Enterprises, was elected chair of the Insurance Institute for Highway Safety’s board of directors and Dawn Lee, chief product and underwriting officer at PEMCO Mutual Insurance Company, will continue as …
The Catholic Diocese of Camden, New Jersey and several holdout insurers have agreed to add $180 million to a trust fund to pay claims of survivors of sexual abuse by the church’s clergy. The $180 million is in addition to …
Rimkus named Chris Rayasam CEO and president. Rayasam, who will also join the board of directors, will be in charge of Rimkus’ reinforcement of its global forensic engineering capabilities, which include vehicle accident reconstruction and digital forensics, and he will …
Rimkus named Chris Rayasam CEO and president. Rayasam, who will also join the board of directors, will be in charge of Rimkus’ reinforcement of its global forensic engineering capabilities, which include vehicle accident reconstruction and digital forensics, and he will …
Dutch telecommunications group Odido said it was hit with a cyberattack that compromised customer data, though services have remained operational. The mobile network, owned by buyout firms Apax Partners and Warburg Pincus, said Thursday in a statement that it contained …
Venbrook Group LLC named Awais Farooq chief claims officer. Farooq will oversee the company’s global claims operations. Farooq has nearly two decades of experience in claims. Before working for Venbrook, he was a senior vice president of strategy and transformation …
Palo Alto Networks opted not to tie China to a global cyberespionage campaign the firm exposed last week over concerns that the cybersecurity company or its clients could face retaliation from Beijing, according to two people familiar with the matter. …