News of Interest to AIG Panel Counsel Law Firms

Validus Re, a catastrophe-focused property reinsurer, is being sold by American International Group (AIG) to RenaissanceRe Holdings Ltd. The transaction, which includes AlphaCat and Talbot’s Treaty reinsurance business, is valued at almost $3 billion and is expected to close later...
Read More about News of Interest to AIG Panel Counsel Law Firms

Auto Liability Claims Driving in High Gear

Bodily injury, property damage, collision severity and other measures of auto liability claims increased in 2022, according to the 2023 U.S Auto Insurance Trends Report recently published by LexisNexis® Risk Solutions. Specific measures for 2022 auto liability claims are as...
Read More about Auto Liability Claims Driving in High Gear

Dog Bite Claims Hit Homeowners Insurance

The cost of a dog bite claim jumped significantly between 2021 and 2022, with the average claim value approaching $65,000 in 2022, up from $49,000 the previous year. Dog bite claims and other canine-related injuries resulted in liability claims under...
Read More about Dog Bite Claims Hit Homeowners Insurance

United P&C Enters Liquidation

All insurance policies issued by United Property & Casualty Insurance Company ("UPCIC") are cancelled as of March 29, 2023, according to the Florida Department of Financial Services. There is one exception for flood insurance policies. The action follows a Florida...
Read More about United P&C Enters Liquidation

Florida Tort Reform Enacted

Governor Ron DeSantis signed House Bill 837, Civil Remedies, into law on Friday, March 24, 2023. The bill took effect upon signing. This far-reaching Florida tort reform act contains major provisions as outlined below. The federal standard of eliminating attorney’s...
Read More about Florida Tort Reform Enacted

United Property & Casualty to Exit FL, GA, LA, and NY Markets

United Property & Casualty plans to withdraw its personal lines coverage in Florida, Georgia, Louisiana, and New York, according to a company news release issued on August 25, 2022. UPC, a subsidiary of United Insurance Holdings Corp. (UIHC), is a...
Read More about United Property & Casualty to Exit FL, GA, LA, and NY Markets

Marijuana Panel Counsel Defense

Insurance defense law firms might want to explore marijuana panel counsel opportunities as the cannabis industry expands. Almost 50 million Americans used marijuana at least once in 2019, according to the CDC. Although it is illegal at the federal level,...
Read More about Marijuana Panel Counsel Defense

Liberty Mutual Completes State Auto Acquisition

State Auto Group is now owned by Liberty Mutual Insurance. Insurance defense law firms that are on the State Auto panel counsel program will want to monitor their portfolio of cases closely. Through the mutual transaction and merger, originally announced...
Read More about Liberty Mutual Completes State Auto Acquisition

ProSight Rebrands as Coaction Specialty

Coaction Specialty is the new name for ProSight Global, Inc., a specialty underwriter founded in 2009. The parent company is Coaction Global, Inc. Insurance defense law firms that are ProSight panel counsel members will want to educate themselves on the...
Read More about ProSight Rebrands as Coaction Specialty

Florida Homeowners Insurance Market in Turmoil

Many Florida homeowners insurance companies, listed below, have entered into liquidation in recent years. Other Florida homeowners insurance carriers have announced plans to either cut back or stop writing new policies. Panel counsel law firms for Florida homeowners insurance carriers...
Read More about Florida Homeowners Insurance Market in Turmoil

Berkshire Hathaway to Acquire Alleghany Corporation

RSUI Group, CapSpecialty, and Transatlantic Holdings are being acquired by Berkshire Hathaway as part of its purchase of Alleghany Corporation, according to a March 21, 2022 news release. The transaction is valued at $11.6 billion and is expected to close...
Read More about Berkshire Hathaway to Acquire Alleghany Corporation

Chubb Pursues Digital Transformation

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,...
Read More about Chubb Pursues Digital Transformation