All Insurance articles – Page 3
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Blog
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.
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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 BriefSwedish 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 BriefAPRA 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.