All Insurance articles – Page 3
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Blog
Wefox appoints chief risk officer
Wefox, an insurance technology company, appointed Dominik Ulrich as chief risk officer.
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Blog
Lloyd’s appoints general counsel
Lloyd’s, a marketplace for insurance and reinsurance, announced Claire Schrader as general counsel, a role she has been performing on an interim basis since August.
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News BriefInsurance broker Gallagher off hook in DOJ FCPA probe
Arthur J. Gallagher disclosed the Department of Justice ended an investigation into the insurance broker’s business in Ecuador for potential violations of the Foreign Corrupt Practices Act.
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PCF Insurance Services hires general counsel
PCF Insurance Services appointed Adam Reed as general counsel.
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Liberty Bankers Insurance Group names risk chief
Liberty Bankers Insurance Group announced the hiring of John Blocher as vice president, actuary and chief risk officer.
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Zurich North America names finance head as risk chief
Insurance solutions and services provider Zurich North America appointed Ann Chai as chief risk officer.
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American Coastal Insurance announces compliance, risk chief
American Coastal Insurance Corp. promoted J. Andy Gray to the newly created position of chief compliance and risk officer.
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News BriefNYDFS proposes AI use guidance for insurers
The New York State Department of Financial Services issued for public comment guidance for insurers operating in the state regarding their use of artificial intelligence systems and other predictive technologies.
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New York Life appoints general counsel to exec management committee
Insurance giant New York Life announced the appointment of Senior Vice President and General Counsel Michael McDonnell to its executive management committee.
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Blog
LIC appoints new risk chief
Life Insurance Corp. of India announced the appointment of S Sunder Krishnan as chief risk officer.
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News BriefPURE Insurance to pay $466K in OFAC sanctions case
Insurance organization Privilege Underwriters Reciprocal Exchange agreed to pay $466,200 as part of a settlement with the Office of Foreign Assets Control addressing alleged sanctioned transactions on behalf of designated Ukrainian-Russian oligarch Viktor Vekselberg.
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Blog
IAG appoints interim group general counsel
Insurance Australia Group appointed Karen Ingram as interim group general counsel.
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PremiumMoney, size, industry: Multiple factors at play in setting compliance reporting lines
Compliance teams most often report to their firm’s legal department, our “Inside the Mind of the CCO” survey found. However, heavily regulated companies and those with fewer employees saw different trends emerge.
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Blog
AIG appoints general counsel
Global insurance organization American International Group announced Rose Marie Glazer as general counsel.
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PremiumDOJ 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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PremiumCompanies 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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PremiumOne 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 BriefFirst 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 BriefBritish 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.