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January 20, 2022U. of Michigan Reaches $490M Settlement Over Sexual Abuse
The University of Michigan has agreed to a $490 million settlement with more than 1,000 people who say they were sexually assaulted by a former sports doctor during his nearly four-decade career at the school, the university and those involved …


January 20, 2022Travelers Sets Some Records with Q4 Results
Insurer Travelers reported a quarterly profit of $1.3 billion, an increase of $23 million and a record for the fourth quarter that was achieved despite higher catastrophe claims. The Hartford-based insurer boosted net written premiums by 10% over las …


January 20, 2022People Moves: Pinnacol Names Neppel Chief Investment Officer; Alliant Makes Krickl Vice President
Pinnacol Assurance named Jennifer Neppel chief investment officer. Neppel will succeed David Bomberger, who will retire on March 1 after nine years with Pinnacol. Neppel has a background in investment management, mostly for large healthcare organizat …


January 20, 2022People Moves: Lloyd’s Names Chubb’s Miller as Commercial Dir.; Chubb Promotes Meyer to Switzerland Country Pres.; WTW Hires Aon’s Weda for Corp. Risk & Broking, Benelux
This edition of International People Moves details appointments at Lloyd’s, Chubb and Willis Towers Watson (WTW). A summary of these new hires follows here. Lloyd’s Names Chubb’s Miller as Commercial Director Lloyd’s announced the appointment of Dawn …


January 20, 2022Tennessee Jury Awards $9 Million to Man Who Sipped Cleaning Fluid at Restaurant
A Tennessee jury has awarded damages far above what the plaintiff asked for, after finding the Cracker Barrell restaurant company at fault for allowing a customer to accidentally drink a cleaning compound. The customer, William Cronnon, was having lu …


January 20, 2022Shock Rejection of Purdue Pharma Opioid Deal Raises Scrutiny by Bankruptcy System
The surprise rejection of Purdue Pharma LP’s sweeping opioid settlement is already reverberating through the rest of the bankruptcy system. Ascena Retail Group, the former owner of women’s fashion brands including Ann Taylor and Lane Bryant, is the l …


January 20, 2022U.S. Airlines Report Only Minor Disruption From 5G Deployment
U.S. airlines said on Wednesday the rollout of new 5G services was having only a minor impact on air travel as the U.S. Federal Aviation Administration (FAA) said it has issued new approvals to allow more low-visibility landings. The increased …


January 20, 2022Oil Spill Caused by Massive Waves From Tonga Is ‘Ecological Disaster’ for Peru
An oil spill at a refinery in Peru during high waves caused by the explosion last weekend of a volcano in Tonga is an “ecological disaster,” the Peruvian government said on Wednesday. The foreign ministry said that the oil spill …


January 20, 2022In Both Hard and Soft Markets, Zurich Aims to Maintain Focus on Underwriting Discipline
Zurich Insurance Group has worked hard to turn around its financial results over the past five years by bringing underwriting back to the organization, with a greater focus on selecting the right risks, pricing them accordingly, properly structuring …


January 20, 2022Insurtech Reask Gets Funding to Deliver Next-Generation Natural Disaster Modeling
Insurtech Reask, an Australian science and technology company that focuses on natural hazard modeling, announced it has closed its seed funding round, led by Tencent, the global technology giant headquartered in China. The funding will support the ne …

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