Articles by Chad Hemenway

Hemenway is national editor for the Insurance Journal, a sister publication.

Federal Cyber Insurance Backstop Is Warranted With Focus on Catastrophic Risk

Much more work and collaboration needs to be done but the U.S. Treasury has reached a “tentative conclusion” that a potential federal cyber insurance backstop will be focused on catastrophic cyber risk. “We will remain focused on the policy options …

American Family Shuts Down Systems After Detecting ‘Unusual Activity’

American Family Insurance shut down “several business systems” after the insurer said it “detected unusual activity in a portion of its network.” In an email to Insurance Journal, the Madison, Wisconsin-based insurer said its technology teams discovered the activity last …

Insurance Industry Should Expect $100 Billion in Catastrophe Losses Every Year: Verisk

Total global insured losses from natural catastrophes of more than $100 billion a year may be less newsworthy than in the past. In fact, the industry should expect loss totals of at least $100 billion every year, according to models …

Chubb Loses Bid to Enforce D&O Coverage Exclusions in Opioid-Related Case

A federal judge in North Carolina has ruled against a Chubb subsidiary in its attempt to rid itself of defense-cost obligations in opioid-related litigation by enforcing two policy exclusions. According to court documents in U.S. District Court for the Middle …

Dollar Tree Agrees to Improve Safety and Pay $1.35M in Fines: OSHA

Dollar Tree Inc. and subsidiary Family Dollar have entered an agreement with the Occupational Safety and Health Administration (OSHA) to make operational changes within two years. The Department of Labor’s OSHA said it has cited the stores throughout the U.S. …

Allstate Records $2.7B Net Catastrophe Hit on Way to Q2 Loss of $1.4B

Allstate Corp. reported net catastrophe losses of $2.7 billion in the second quarter, resulting in a net loss for the period of $1.4 billion as catastrophe and underwriting losses offset other favorable factors. President and CEO Tom Wilson said the …

Judge Denies Insurers’ Appeal in Boy Scouts Reorganization Plan

A federal judge on March 28 denied an appeal, largely made by insurers, to strike down the Boy Scouts of America’s nearly $2.5 billion reorganization plan approved last year to allow the organization to settle tens of thousands of sexual …

Lawsuit Against State Farm Alleges Racial Discrimination in Claims Handling

State Farm’s claims handling process is the subject of a new lawsuit alleging disparities between the insurer’s treatment of claims from Black policyholders versus claims from white policyholders. The suit filed Dec. 14 against State Farm Fire & Casualty Company …

Insurers Say ‘Bazooka’ of Bogus Boys Scouts Claims is Abuse of Bankruptcy System

A group of insurers – including subsidiaries of AIG, Liberty Mutual, Allianz, Sompo International, and Travelers – are challenging an approval of the Boy Scouts of America’s $2.46 billion bankruptcy reorganization plan to allow the organization to settle tens of …

State Farm to Pay $100 Million to Federal Government for Hurricane Katrina Claims

State Farm Fire and Casualty Co. and two former claims-adjuster sisters, who more than 16 years ago filed a lawsuit claiming the insurer committed fraud against the government’s National Flood Insurance Program following Hurricane Katrina, have settled. According to documents …