Chad Hemenway
Insurance Journal
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Past articles by Chad:
Silicon Valley Bank Parent SVB Financial Group Faces First Securities Class Action
Silicon Valley Bank (SVB) on Monday was hit with what appears to be the first federal securities class-action lawsuit against it, carrying allegations → Read More
United Insurance Holdings Moves Forward to Specialty Commercial Lines: CEO
United Insurance Holdings Corp. Corp. said it will move on to focus on specialty commercial lines business following news last month that its subsidiary → Read More
Root Inc. Says CFO ‘Terminated for Cause’
About one year into his employment with Root Inc. and a week after he helped the company report fourth-quarter earnings, Chief Financial Officer Robert → Read More
Commercial Insurance Price Increases Stay Level But Clients Still Worried: CIAB
"Stabilization" and "moderation" continued to be the operative words for premium increases in the commercial property/casualty market, but many clients → Read More
Insurers’ Digital Claims Tools Failing Customers: J.D. Power
Calling the trend "worrying," J.D. Power's new property claims satisfaction report indicated that insurers' digital tools to speed the claims process are → Read More
Root Books Another Net Loss; Stays Positive on Embedded Insurance Results
Calling embedded insurance the "next secular trend in distribution," Root Inc. CEO Alex Timm in a letter to shareholders said the company has an advantage → Read More
Root Granted Restraining Order Against Former CMO it Says Stole About $10M
A U.S. district judge has granted a motion for a temporary restraining order requested by Root Inc. against its former chief marketing officer to prevent → Read More
Allstate: $307M in January Cat Losses and Keeps the Auto Rate Hikes Coming
Allstate Corp. said it estimated catastrophe losses for the month of January of $307 million, or $243 million after-tax from nine events primarily in → Read More
AIG Sees Q4 Profit Fall but General Insurance Underwriting Jumps 27%
Fourth quarter 2022 net income attributable to American International Group common shareholders fell to $264 million from about $3.7 billion the year → Read More
Actions vs. Talk: Is the Insurance Industry Coming Through on DEI Commitments?
Though the last five years have included events – specifically the murder of George Floyd – that prompted many company leaders to make commitments to → Read More
Root Sues Former CMO Over At Least $9.4M in Unauthorized Payments
Root Inc., the parent company of Root Insurance, has followed up its investigation into almost $10 million of unauthorized payments with a lawsuit against → Read More
Allstate’s Plan to Return to Profit in Auto
Following a year of turbulence in its auto insurance business, Allstate Corp. outlined what CEO Tom Wilson called the company's number one priority: → Read More
General Motors Files to Trademark ‘GM Financial Insurance Company’ Name
General Motors has filed to trademark "GM Financial Insurance Company," according to a record found with the U.S. Patent and Trademark Office. The filing → Read More
Allstate Reports $310M Q4 Loss as Auto Claims Costs Motor Past Rate Hikes
As it had warned last month, Allstate Corp. reported a fourth quarter 2022 loss of $310 million as losses from auto insurance outpaced an increase in → Read More
AIG Fires Interim CFO Lyons
AIG late Monday terminated interim Chief Financial Officer Mark Lyons after he "violated his confidentiality/non-disclosure obligations," the company → Read More
W.R. Berkley: Waiting for Discipline in Property; Overall Marketplace ‘Splintered’
There is no one answer to the overall insurance industry's place within its cyclical path. Each product line needs to be looked at individually, according → Read More
Auto Insurance Shopping – and Switching – Increases
Drivers are not only shopping around for auto insurance more than ever, they are switching carriers. According to a quarterly report from J.D. Power, in → Read More
Q4 Net Income at Travelers Falls 39%
Travelers Cos. this morning reported fourth quarter net income of $819 million, a decrease of about 39% from $1.3 billion a year ago during the same time. → Read More
Allstate Readies Investors for Q4 Loss of Up to $335M
Allstate Corp. on Wednesday said it expects to end 2022 in the red with a net loss of between $285 million and $335 million for the fourth quarter, and a → Read More
Appeals Court Rules Insurers Not Obligated to Defend Distributor of Opioids
Westfield National Insurance Co. and Motorists Mutual Insurance Co. are not required by their insurance contracts to defend generic drug distributor Quest → Read More