AIG News

AIG: Systematic Cyber Attacks Likely in 2017

Nine in 10 global cyber security and risk experts believe that cyber risk is systemic and that simultaneous attacks on multiple companies are likely in 2017, according to a study issued last month by American International Group, Inc. More than …

AIG: Large M&A Deals Can Lead to Costly Insurance Claims

The frequency of M&A insurance claims is rising as large deals prove risky and the average payout on the most severe category of claims tops $20 million, according to an American International Group, Inc. study of its representation and warranty …

Business News: Esurance, CoreLogic, QBE, AIG

Esurance Lays Off 30 Workers in South Dakota About 30 Esurance employees in Sioux Falls have lost their jobs as part of cuts within the insurance company. The Argus Leader reports that Esurance cut 100 jobs Tuesday, mostly in Sioux …

People News: Great American, Rising Medical Solutions, AIG, MedRisk

Kornesczuk Promoted to Divisional President of Great American Insurance Group Great American Insurance Group announced the promotion of Jane Kornesczuk to divisional president of its Executive Liability Division. Kornesczuk joined Great American in 1990 as a senior underwriter. She was …

AIG: Trust Critical in Employee Data Sharing With Companies

Companies need to accept tradeoffs to foster “digital trust” with employees if they want to gather the workplace data necessary to realize the full economic and competitive benefits of the Internet of Things (IoT) and the sharing economy, according to …

Business Moves: Verisk Analytics, AIG, AXA, SUEZ

Verisk Analytics Acquires Arium Verisk Analytics, Inc., a data analytics provider, announced it has acquired Arium, an independent company specializing in liability risk modeling and decision support. Arium will become part of AIR Worldwide, a Verisk Analytics business, and will …

Business News: Chubb, AIG, Vericlaim

Chubb has expanded its business owner’s policy, Chubb BOP, to the technology industry by crafting specialized insurance features and benefits to meet the unique risks faced by small businesses in the technology segment. The policy includes more than 80 property …

AIG to Sell Chile, Turkey Units to Focus on P/C Business

American International Group Inc. agreed to sell commercial and consumer units in nations including Argentina and Turkey to Prem Watsa’s Fairfax Financial Holdings Ltd. for $240 million as Chief Executive Officer Peter Hancock narrows his company’s focus. Fairfax will also …

People News: AF Group, Willis Re, AIG

AF Group Names Kuss as Senior Vice President and Chief Claims Officer Michigan-based AF Group named Jeff Kuss senior vice president and chief claims officer. Kuss will lead a team responsible for Claims Administration, Investigative Services, Medical Management, Large Loss, …

Business News

PDA Extends Appraisal Services to Financial Sector Property Damage Appraisers (PDA) is spreading the word about one of its core business practices that many may not know about – financial services. PDA’s appraisal services are ideal for banks, credit unions …