All Insurance articles – Page 3
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Premium
DOJ cooperation credit breakdowns: Albemarle, Tysers, H.W. Wood
Nicole Argentieri, acting head of the Department of Justice’s Criminal Division, breaks down where Albemarle, Tysers Insurance Brokers, and H.W. Wood went right—and wrong—on the cooperation credit and remediation fronts as part of their FCPA settlements with the agency.
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Premium
Companies must hold insurers to account on AI use
Insurers embracing artificial intelligence-based technologies might pose serious risks to companies buying insurance if the risk data used to price their insurance premiums is used to train AI algorithms or shared on commonly used chatbots like ChatGPT.
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Blog
The Hartford names new general counsel
Insurance giant The Hartford promoted its Deputy General Counsel and Corporate Secretary Don Hunt to general counsel and head of law, compliance, and government affairs.
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Premium
One company’s voluntary self-disclosure, two companies’ FCPA settlements
Nicole Argentieri, acting head of the Department of Justice’s Criminal Division, explained how the actions of Jardine Lloyd Thompson Group Holdings coming forward helped bring about the agency’s recent FCPA enforcements against Tysers Insurance Brokers and H.W. Wood.
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News Brief
First American fined $1M by NYDFS over 2019 cybersecurity breach
First American Title Insurance Company agreed to pay a $1 million fine and implement stronger compliance measures for not securing customers’ personal data, the New York State Department of Financial Services announced.
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News Brief
British reinsurers Tysers, H.W. Wood settle with DOJ over Ecuador bribes
Two U.K.-based reinsurance brokers, Tysers Insurance Brokers and H.W. Wood, reached separate settlements with the U.S. Department of Justice addressing their participation in a wide-ranging scheme to pay bribes to Ecuadorian government officials.
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Blog
CBIZ appoints chief legal officer
CBIZ, a provider of financial, insurance, and advisory services, announced it named Jaileah Huddleston as chief legal officer and corporate secretary.
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News Brief
HealthSun Health Plans earns DOJ declination in employee fraud case
The impact of the Department of Justice’s voluntary self-disclosure program was on display in the agency’s declination of an enforcement action against Florida-based health insurance company HealthSun Health Plans for apparent fraud committed by its employees and agents.
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Blog
AIG appoints general counsel
Insurance giant American International Group announced the appointment of Patricia Walsh as executive vice president and general counsel.
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Blog
AmeriLife appoints chief risk and compliance officer
Insurance company AmeriLife Group announced the appointment of Jeffrey Halperin as chief risk and compliance officer.
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Blog
Distinguished Programs appoints general counsel
Insurance company Distinguished Programs announced the appointment of Ursula Kerrigan as general counsel.
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News Brief
Swedish DPA fines Trygg-Hansa $3.2M for GDPR breaches
Sweden’s data protection authority issued a penalty of 35 million Swedish krona (U.S. $3.2 million) against insurance company Trygg-Hansa for alleged security flaws that made customer insurance information accessible on the internet.
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Blog
RenaissanceRe appoints chief risk officer
Insurance provider RenaissanceRe Holdings announced the appointment of Robin Lang as group chief risk officer on a permanent basis.
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News Brief
APRA pressures Medibank on cyber enhancements post-breach
The Australian Prudential and Regulation Authority will require Medibank Private to hold 250 million Australian dollars (U.S. $166 million) in extra capital until the insurer remediates identified cybersecurity weaknesses after a significant data breach.
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News Brief
Treasury report recommends stricter supervision of insurers’ climate risks
The Treasury Department’s Federal Insurance Office issued a report on gaps in how states supervise and assess climate-related risks among insurers.
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Blog
Everest Re recruits CISO from FBI
Insurance provider Everest Re announced the appointment of Don Good as chief information security officer.
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Blog
Corvus Insurance appoints chief risk officer
Corvus Insurance announced the appointment of Albert Zhou as chief risk officer.
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Blog
Farmers Insurance appoints chief risk officer
Christian Vink announced he’s been named chief risk officer of Farmers Insurance.
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News Brief
IRB Brasil to pay shareholders $5M over CFO’s claims
Brazilian reinsurance company IRB Brasil RE agreed to pay $5 million to harmed investors after its former chief financial officer allegedly lied about Berkshire Hathaway investing in the company.
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Blog
Chubb promotes deputy chief risk officer to CRO
Global property and casualty insurance company Chubb announced the promotion of Senior Vice President and Deputy Chief Risk Officer Frances O’Brien to chief risk officer.