Zurich
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The executive has been with Zurich since 2018.
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The plaintiffs – three former claims adjusters – were each awarded $25mn in punitive damages.
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The executive worked on projects with the firm when he was an investment banker.
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He was most recently cyber product leader at Zurich NA.
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Zurich NA's operating profit grew to $2.65bn in 2023 from $2bn the prior year.
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The changes precede the retirement of direct markets head Vince Santivasi.
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Partnerships can address growing cyber threats such as DDoS attacks and ransomware, as well as AI.
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The Global Risks Report 2024, made in partnership with Marsh and Zurich, shows that extreme weather events, misinformation and disinformation are top risk severity concerns.
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Zurich North America has named Eric Cittadino head of programs effective September 1, the carrier announced on Thursday.
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NA commercial rates accelerated 9% in Q2 as property pricing rose 18% and auto pricing went up 9%.
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The carrier expects NA crop volumes to decrease in 2023 year-over-year due to commodity price developments.
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Beneva has signed up to net-zero targets as a member of the NZIA, following a period of turbulence in which Munich Re, Zurich and Hannover Re have left the alliance.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Zurich’s decision comes less than a week after Munich Re decided to withdraw from the UN-backed initiative.
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Fox will report to Zurich North America CEO Kristof Terryn, with a shared reporting relationship to group CUO Penny Seach.
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The collapse of Silicon Valley Bank is creating investor fear across the global financial services sector.
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Zurich NA’s P&C CoR decreased to 91.3% in 2022 from 92.4% in 2021 while the group’s CoR remained at 94.3%.
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The carrier has upped its global all-perils cat coverage to $1.2bn since January last year.
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Of the 8.5% quota share assumed by Farmers Re, 6.75% was retroceded to Zurich Global.
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The total raised for the InsurTech has now reached $24.5mn over the past 16 months.
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Members of the captive receive an assessment of their carbon footprint and energy consumption by Zurich NA
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The CEO called for the formation of public-private partnerships, akin to those in place for terrorism or earthquakes, to tackle systemic cyber risks.
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Inside P&C’s news team runs you through the key highlights of the week.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The executive also said that the firm seeks to grow in Canada and in the middle market space, where it has already increased the number of underwriters by 30%.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The Illinois-based carrier said its crop insurance business contributed almost 40% of the growth in the region.
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The Massachusetts Bay Transportation Authority claims the firms failed to act over the bankruptcy of LMH-Lane Cabot Yard Joint Venture.
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Penny Seach is to succeed Hayley Robinson, who has decided to step down at year end for family health reasons.
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Zurich NA grew gross written premium by 14% to over $11.3bn as rates jumped 9% in the period.
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Zurich is ahead of schedule on its nat cat exposure reduction in the US, the company’s CFO George Quinn said during an H1 earnings call.
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Morgan joins Zurich North America’s US national accounts business and is based in Atlanta.
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Molly Dorsett will return to Zurich from Chubb as head of US energy casualty renewables, while Nicholas Haller joins as lead underwriter of renewable energy property.
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The executive joins Zurich NA from privately held International Financial Group (IFG), a P&C company focused on the E&S market where he served as CEO.
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Conditions for SPAC D&O are likely to remain turbulent, amid the heightened SEC scrutiny and uncertainty concerning claims resolution.
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Pavelko joins from WTW, where she worked as senior placement broker and client advocate on the CID team.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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To succeed Lavelle, the carrier also recruited Farmers personal lines president Keith Daly as its new chief claims officer.
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The executive will oversee Zurich NA US national accounts, which include large corporate and captive customers.
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Zurich's F&I Agency operations was launched in January under the leadership of Todd Kaminski, the firm’s head of business development.
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The executive will work to accelerate commercial insurance revenue and develop new channels and geographies.
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Let’s get you up to speed on some of this week’s key M&A deals.
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Trey Martino jumps from Sompo International to take on US middle market unit for Zurich North America.
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AIG joins Aon, Zurich in industry apprenticeship program that aims to draw in young talent, improve diversity efforts.
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The insurance giant also is moving its operation chief for direct markets, Dawn Hiestand to be the new head of captives, and Alban Laloum to be its new chief customer officer.
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Respondents to the WEF’s Global Risk Perception survey also cited cyber security as a medium-term threat, signaling a potential ‘blind spot’ in risk perceptions.
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Commercial lines loss ratios may move slightly higher, while personal auto carriers see the light at the end of the loss-cost tunnel.
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