All Insurance articles
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ArticleNY auto insurers on the hook for $19M for cybersecurity violations
Eight auto insurers failed to meet the requirements of New York’s cybersecurity regulations during widespread online attacks in 2021 and will pay $19 million under consent orders with the New York State Department of Financial Services (NYDFS).
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News BriefSEC reportedly investigating MassMutual’s accounting amid ongoing government shutdown
Even though the U.S. federal government is currently shut down, the U.S. Securities and Exchange Commission appears to still be at work. The financial regulator is reportedly investigating a major insurance and asset management company over its accounting practices.
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PremiumNavigating top risks in the insurance industry
Cyber threats, climate-related catastrophes, and disruptive technologies remain top risks reshaping the U.S. insurance industry. The question is how chief risk officers at the nation’s largest insurers are confronting them.
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News BriefDOJ declines to prosecute Liberty Mutual in $4.7M FCPA bribery case
Liberty Mutual agreed to give up $4.7 million in profit – the amount it earned from a bribery scheme uncovered by the government – as part of a settlement related to the Foreign Corrupt Practices Act, according to a letter from the U.S. Department of Justice.
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Blog
Falvey Insurance Group names CRO
Falvey Insurance Group announced the appointment of Eric Newman as chief risk officer.
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Incline P&C Group appoints risk chief
Incline P&C Group, a property and casualty insurance program market services firm, announced the appointment of Sheel Patel as chief risk and strategy officer.
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Liberty Mutual Insurance names CCO
Liberty Mutual Insurance announced that Nicole Arangio has been named executive vice president and chief compliance officer, effective Apr 1.
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PremiumWhistleblower’s defamation case reveals scope of USAA ‘coverup’
A defamation lawsuit filed by a whistleblower against USAA, which a Florida judge recently dismissed on a technicality, revealed in public court records an estimated 400,000 violations of the Military Lending Act by USAA Federal Savings Bank (USAA Bank), an indirect wholly owned subsidiary of USAA.
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Boston Mutual Life Insurance promotes legal chief to president, COO
Boston Mutual Life Insurance Company announced that General Counsel & Secretary Grant Ward, Sr., JD, has been named president and chief operating officer, effective Jan. 1.
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Liberty Bankers Insurance appoints compliance, legal chief
Liberty Bankers Insurance Group announced Lori Ann Fox as the new senior vice president, chief compliance and legal officer.
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Reassured names risk, compliance chief
Life insurance broker Reassured appointed Philip Byrne as the new chief risk and compliance officer.
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PremiumCould your firm potentially be the subject of a DOJ whistleblower action? Time to get ready
Now that the U.S. Department of Justice launched a new pilot whistleblower program, many questions remain. What types of companies might find themselves to be the subject of a criminal investigation stemming from a whistleblower tip? And what should they do to prepare for a whistleblower tip?
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News BriefMetLife subsidiary fined $178K by OFAC for issuing premiums to Iran-controlled entities
A subsidiary of MetLife will pay more than $178,000 for violating U.S. sanctions on Iran when it provided insurance policies to entities in the United Arab Emirates owned or controlled by Iran.
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Optio adds first group risk chief
Optio Group announced the appointment of Insi Davenport to the newly created executive role of group chief risk officer.
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Somerset Reinsurance appoints risk chief
Somerset Reinsurance announced the appointment of Riley LaTour as chief risk officer.
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AIG appoints chief risk officer
American International Group announced that Christopher Schaper has been appointed chief risk officer.
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The Mutual Group appoints GC, CCO
TMG Insurance Services announced that Shannon Woods has joined as general counsel and chief compliance officer.
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Cowbell names general counsel
Cowbell, a provider of cyber insurance for small and medium-sized enterprises and middle-market businesses, has promoted Eric Biderman to general counsel.
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MLC Life Insurance names CRO as customer, strategy chief
MLC Life Insurance appointed its Chief Risk Officer Jane McGovern as chief customer and strategy officer.
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Aspen appoints group compliance head
Insurance firm Aspen announced that Peter Spires has joined as group head of compliance & deputy group general counsel.