Chubb panel counsel members will want to take note of on-going initiatives to drive transformational change through technology. “Chubb is transforming itself to a company built to thrive in the digital age,” according to a Chubb news release. In January, the Zurich-based insurance giant announced the appointment of a “Digital Transformation Officer” at the EVP […]
Litify to Host LitiQuest Insurance Conference
The future of claims litigation is the primary focus at a one-day executive summit being held in California in early April 2022. Litify, a provider of legal operating system and case management software, is the lead sponsor. AmTrust, Acceptance Insurance, Deloitte, CLM, and Nth Degree are among the industry leaders also participating in the event. […]
Cyber Insurance Panel Potential
As ransomware attacks and data breaches increase, cybersecurity insurance policies represent a growing coverage area. Insurance defense law firms may find new cyber insurance panel opportunities if they take the time to learn the industry. There are now 4 million cyber insurance policies in place for cyber coverage, according to a 2021 report by the […]
California Fires Burn Homeowner Carriers
AIG and Chubb intend to non-renew thousands of high-end California homeowner policies over the coming months as a result of fire exposure in the state, according to a recent Wall Street Journal article titled “Wildfire Risk in California Drives Insurers to Pull Policies for Pricey Homes.” Law firms that are members of the AIG panel […]
News for Allstate Panel Counsel Members
Allstate is pursuing a three-year goal of becoming the “most diverse digital protection solutions company.” The strategic focus on all things digital includes staffing and cost-cutting measures, automated claims processing, and new premium pricing models. This article highlights leading initiatives of interest to insurance defense law firms that serve as Allstate panel counsel. Technical Innovations […]
Liberty Mutual to Buy State Auto
The 33-state insurance market built by State Auto Financial is being sold to Liberty Mutual for $2.3 billion. The deal is approved by the State Auto board and is expected to close in 2022. State Auto panel counsel law firms will want to take note. Liberty Mutual, already the fifth largest P&C insurer based on […]
NORCAL Acquired by ProAssurance
ProAssurance completed its acquisition of NORCAL Mutual on May 5, 2021. The transaction was valued at about $600 million, based in part on future performance. NORCAL panel counsel members will want to monitor the status of their accounts. The NORCAL acquisition adds approximately $300 million of business to the ProAssurance Standard Physicians line, $1.5 billion […]
Chubb Offers to Buy The Hartford
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 […]
