Crum & Forster

Crum & Forster hires Chubb’s Masterson as surety unit’s COO

Crum & Forster has recruited long-time Chubb engineering and construction specialist Brock Masterson to serve on its surety division’s executive leadership team.

Allied World leads way as Fairfax improves Q2 CR to 93.9%

Fairfax marginally improved its combined ratio to 93.9 percent in the second quarter, with Allied World producing the best performance on this metric among its major subsidiaries, while consolidated gross premiums written grew 10 percent in the quarter to $8.04bn.

Fairfax Q1 UW gain down 3% on cats despite improved CR at Allied World, Brit and C&F

Underwriting profits at Fairfax Financial fell 3 percent in the first quarter to $314mn as catastrophe losses within the firm’s P&C operations rose 47 percent to $192mn - from $130mn the year before - and the firm’s consolidated combined ratio rose 0.9pts to 94 percent.

Crum & Forster promotes Silfen and Nidds to A&H EVPs

Crum & Forster has appointed Susan Silfen and Gary Nidds as executive vice presidents within its accident and health business.

Energy MGU Navitas partners with C&F and Great American to provide trade credit capacity

Houston-based specialty MGU Navitas Assurance Partners has entered into a relationship with Crum & Forster and Great American Insurance Company to provide trade credit insurance capacity to the North American energy markets.

Crum & Forster acquires medical stop loss specialist Partners MGU

Crum & Forster Accident & Health has acquired medical stop loss insurance agency Partners Managing General Underwriters (PMGU), which the Fairfax subsidiary said is the latest move in expanding its position in the self-insured marketplace.

Fairfax P&C CoR weakens by 2.8 points to 90.9% in Q4 despite 20% drop in cats

Underwriting profits at Canadian holding company Fairfax Financial grew by 5 percent in the fourth quarter to $496mn, but underwriting margins deteriorated, with the combined ratio up 2.8 points to 90.9 percent, as a 74 percent drop off in reserve releases was only partly offset by an 18 percent reduction in catastrophe losses.

Crum & Forster promotes Economidis to cyber SVP

Fairfax subsidiary Crum & Forster (C&F) has promoted Nick Economidis to senior vice president of eRisk, which includes cybersecurity insurance products and coverage for technology errors and omissions.

C&F breached via Log4J vulnerability as forensic investigation continues

The RansomHouse hacking group was able to infiltrate specialty insurer Crum & Forster’s internal systems by exploiting an unpatched Log4J vulnerability, The Insurer can reveal.

C&F data breach highlights risk potential for industry players

The RansomHouse attack on Crum & Forster and the claimed theft of 5 terabytes of data has raised alarm bells across the insurance industry, providing a window into the challenges and concerns other companies might face if similarly breached.

C&F tells former employees it is working with external data security experts

Crum & Forster has told former staffers seeking answers about the cybersecurity breach revealed by this publication that it is working with external data security experts and will inform those that have been exposed “in accordance with the law”, according to communications reviewed by The Insurer.

RansomHouse breach could lead to claims on C&F’s cyber, D&O, EPLI policies

Though Fairfax-owned specialty insurer Crum & Forster has yet to publicly comment on the disclosure of highly-sensitive personnel and financial information, market sources have suggested the breach at the hands of extortionist group RansomHouse could result in the carrier filing claims under multiple insurance policies.

Crum & Forster data leak analysis confirms gravity of undisclosed breach

Cyber and other industry executives scrambled over the weekend to assess the seriousness of the data breach at specialty insurer Crum & Forster reported by The Insurer late on Friday, with a wide number of leading market sources confirming the gravity of the hack.

Fairfax-owned Crum & Forster suffers major RansomHouse cyber breach

Specialty carrier Crum & Forster has suffered a significant cyber breach at the hands of RansomHouse, with the hacking group exposing volumes of sensitive financial and medical data, including detailed information relating to customers, trading partners, and employees, The Insurer can reveal.

Fairfax P&C operating income soars on improved Q2 underwriting

Fairfax Financial’s P&C operating income surged 62 percent to $645.3mn in Q2 2022 following what chairman and CEO Prem Watsa called an “excellent underwriting performance”, but the business swung to a net loss of $881.4mn in Q2 2022 after it digested $1.55bn of net losses on investments.

Fairfax’s Clarke: Brit’s Q1 “one of its best quarterly results since our acquisition”

Fairfax’s Peter Clarke has praised Brit’s 30.5 percent growth in gross premiums written in Q1, adding the Lloyd’s insurer’s 92 percent combined ratio was “one of its best quarterly results since our acquisition” in 2015, while the Canadian holding company also revealed it put up IBNR up of $30mn for Russia-Ukraine losses.

Fairfax completes internal LPT for Crum & Forster construction portfolio

Fairfax Financial said its specialty carrier Crum & Forster entered into a loss portfolio transfer (LPT) for reserves relating to its construction book with the group’s inhouse US legacy vehicle RiverStone, as it also confirmed the completion of an LPT by Brit with the RiverStone International arm sold to CVC last year.

Crum & Forster exits quota share agreement with AmerInst

US carrier Crum & Forster has terminated a quota share reinsurance arrangement with AmerInst Insurance Company which has been in force since 2009.

Crum & Forster’s Sussman named president of its credit division

Crum & Forster has named Daniel Sussman as president of its credit division to lead the company’s growth within the credit insurance market.

Crum & Forster names Chubb’s Lubin president of surety division

Crum & Forster has named Chubb’s Matthew Lubin as president of its surety division.

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