Hartford board rejects unsolicited takeover offer from Chubb
March 24, 2021 by Greg MeckbachThe Hartford Financial Services Group Inc. announced Tuesday its board of directors is not in favour of a US$23 billion takeover offer from Chubb Limited. Both Chubb and Hartford own Canadian property and casualty commercial insurers. Zurich, Switzerland-based Chubb announced…
Hartford ‘carefully considering’ proposed $23-billion merger with Chubb
March 19, 2021 by Greg MeckbachChubb Limited is offering to buy The Hartford Financial Services Group Inc. for about US$23 billion. Chubb and Hartford each own property and casualty commercial insurers in Canada. Chubb is based in Zurich, Switzerland, while Hartford is based in the…
What the P&C industry is telling Wall Street about cyber risk
February 9, 2021 by Greg MeckbachCommercial insurers are taking a good look at their exposure to widespread cyber events and some are forming partnerships with tech vendors in the hopes of improving their clients’ cyber risk management. “The next pandemic – the exposure that looks…
How much Chubb predicts COVID could cost the industry
February 4, 2021 by Greg MeckbachCOVID-19 could ultimately cost the global property and casualty insurance industry somewhere in the neighbourhood of US$75 billion in claims, Chubb Limited CEO Evan Greenberg suggested Wednesday. Zurich, Switzerland-based Chubb released its financial results for 2020 on Tuesday. During a…
Movers and shakers: Who’s moved where to start the year
January 13, 2021 by Adam MalikA new year brings new faces in new positions and the P&C insurance industry was no exception. NFP formed a new group with two veteran leaders, while Allianz Global Corporate & Specialty and Chubb Canada made new appointments. Brokerage NFP…
Chubb names new president for Canada; Moore retiring
October 22, 2020 by Greg MeckbachCommercial insurer Chubb Canada is about to get a new president. Ellen Moore is retiring at the end of this year, Chubb announced Thursday. “I want to thank Ellen for the exceptional contributions she’s made during her 40 years at…
Why this client can only recover $50,000 on a $2.7-million commercial crime claim
October 16, 2020 by Greg MeckbachAn electronics distributor that lost nearly $2.7-million because its accounts payable staff were duped by fraudsters cannot claim under policy wording covering funds transfer fraud, a Quebec court has ruled. In Future Electronics Inc. (Distribution) Pte Ltd. v. Chubb Insurance…
No layoffs in Canada for this Top 5 liability insurer
April 23, 2020 by Greg MeckbachDespite the massive disruptions from COVID-19, commercial insurer Chubb Limited is promising no layoffs in Canada. “Concerning our no-layoff pledge, we want our 33,000 employees around the globe to be assured that their jobs are secure at this difficult time,”…
Chubb finds ‘alarming’ rise in ransomware attacks
October 23, 2019 by Adam MalikMalware cyber attacks are on the rise compared to one year ago, according to Chubb, with a new type of strain on the rise. The first half of 2019 has seen more ransomware attacks than 2018, catching the eye of…
What risks are most worrying?
September 23, 2019 by Adam MalikWhile it feels like cyber threats have been around for some time, they’re still at the top of the list of emerging and ongoing risks for some industry professionals. But there are others that are grabbing the attention of insurance…
Three things young insurance pros want from their bosses
September 18, 2019 by Adam MalikYoung insurance professionals want their older managers to wrap their heads around a few concepts when it comes to working with young people: flexible work environments, mentoring and being open-minded. Those were the suggestions from the “Four Under Forty” panel…
Court sides with insurer in disputed marine cargo claim
September 4, 2019 by Greg MeckbachA large Canadian manufacturing multinational has lost a legal battle, although not necessarily the war, with Chubb Insurance Company of Canada over a marine coverage dispute. It started in 2013 when Cambridge, Ont.-based ATS Automation Tooling Systems Inc. sold machinery…