The Hartford received an unsolicited purchase offer from Chubb Limited on March 18, 2021. The non-binding proposal, valued at $23.2 billion in cash and stock, is under review by The Hartford’s board of directors and their legal advisors. If approved, this transaction would continue a trend of mergers and acquisitions in the property and casualty […]
Google, Allianz & MunichRe Partner on Cyber Insurance
Google Cloud is now the first major cloud service provider to offer cyber risk insurance – an area of business that has been lacking coverage for years as more and more organizations save and store their data, including confidential customer information, in the cloud. By teaming up with European insurance companies Allianz and Munich Re, […]
Auto Panel Counsel Automation News
Automotive property damage claims are being automated at an accelerating rate, as documented by the $7 billion public offering of CCC Information Services Inc. (“CCC”). CCC is an information technology company that works with automobile insurance companies and others. It describes itself as “a leading SaaS platform powering the P&C insurance economy.” Defense law firms […]
Farmers to Buy MetLife Auto & Home Business
Farmers Group, a Zurich affiliate, will pay almost $4 billion to purchase MetLife’s property and casualty business (MetLife Auto & Home), according to a December 11, 2020 news release. The transaction is expected to close in the second quarter of 2021. Law firms that are members of the Farmers panel counsel and MetLife panel counsel […]
TypTap To Expand Homeowner Insurance Nationwide
Indiana, Mississippi, Montana, South Carolina, South Dakota, and Utah are six new states where TypTap Insurance Company will write homeowners insurance, according to a December 16, 2020 news release. Aspiring TypTap panel counsel members will want to make a note of this expansion. A rapidly growing, technology-driven property and casualty insurer, TYPTAP Insurance Company was […]
Profile on Encova: Motorists and BrickStreet Rebranded
Motorists Insurance Group and BrickStreet Insurance merged in a 2017 joint venture that did not require policyholder approval. The two companies now operate under the new name Encova Mutual Insurance Group following a July 2019 rebranding effort. The merged company is headquartered in the Columbus, Ohio home of Motorists. Encova is now a super-regional carrier […]
Layoff News for Allstate Panel Counsel Members
Claims professionals will be among the 3,800 planned layoffs, according to an Allstate news release dated September 30, 2020. Sales, service, and support personnel are also included in the staff reductions. Allstate panel counsel law firms will want to monitor implications for their case files. Allstate Chief Executive Thomas Wilson said of the layoffs, “somewhere […]
Travelers Panel Counsel Insights
COVID-related insurance claims were a key focus of the second quarter report filed by The Travelers Companies, Inc. with the U.S. Securities & Exchange Commission on July 23. According to the report, Travelers panel counsel members have probably seen an increase in early COVID-related claims in the following areas: Hospital workers collecting workers’ compensation benefits […]
Retail Panel Counsel Claim News
Slip and fall claims are falling along with the shopper’s feet that beat a path to retailer’s doors. Retail panel counsel members are sure to notice the shrinkage in claim levels. As e-commerce growth is accelerated by a surge of COVID-19 work-from-home buyers, dozens of traditional brick-and-mortar retailers are filing for bankruptcy in 2020. The […]
News Items for Chubb Panel Counsel Members
Chubb’s Pandemic Business Interruption Program is one initiative that Chubb panel counsel members may want to follow. The world’s largest publicly traded property and casualty insurance company is proposing a that a public–private partnership (PPP) can help businesses be better prepared for the next pandemic. Key features of the Chubb PPP proposal include the following: […]
