Ryan Specialty Underwriting Managers (“RSUM”), the underwriting management division of Ryan Specialty (NYSE: RYAN), announced the formal rebranding of their North American Professional Liability (“NAPL”) team to Ryan Financial Lines, RSUM’s managing general underwriter that specializes in a wide range …
Illinois Attorney General Kwame Raoul announced a $120 million settlement with Monsanto Company (Monsanto) and affiliates Solutia Inc. and Pharmacia LLC over the environmental and health effects of Monsanto’s decades-long production of polychlorinated biphenyls, known as PCBs. Raoul’s office filed …
The Bank of England said on Tuesday that threats to Britain’s financial system had risen this year due to stretched valuations of companies investing in artificial intelligence, risky lending and bets with borrowed money in government bond markets. The comments …
A working group on wildfires in Washington wants the state Legislature to consider requiring insurers to internally track instances in which wildfire risk materially contributes to a policy nonrenewal, cancellation or eligibility determination—and to better explain wildfire risk scores. The …
President Donald Trump’s administration urged the U.S. Supreme Court on Monday to take up Bayer’s bid to curtail thousands of lawsuits claiming its Roundup weedkiller causes cancer, pushing the group’s shares to their highest in almost two years. In a …
There has been much discussion in the insurance industry about artificial intelligence (AI) and how it can take on mundane, laborious tasks and complete them in a fraction of the time it would take a human. But the technology is …
Lowe’s must pay $12.5 million over renovation work performed by its contractors at hundreds of homes across the country. The Justice Department and the Environmental Protection Agency announced a proposed nationwide settlement with Lowe’s Home Centers LLC to resolve alleged …
Japan’s Asahi Group on Thursday [November 27] said it aims to normalize logistical operations by February after a cyberattack in late September forced widespread suspension, though not all products will be available to ship by that time. The beverage maker, …
AM Best is revised its market segment outlook on the U.S. excess and surplus lines segment to stable from positive, the rating agency announced in mid-November. The change comes as rates soften and premium growth moderates. “Although favorable market conditions …
Australia’s AUB Group said on Monday its suitors EQT and CVC Asia Pacific had abandoned their pursuit that valued the insurance broker at A$5.25 billion ($3.44 billion), sending its shares more than 17% lower. Shares of the Sydney-based firm plunged …