CFO / Financial
What Industry Executives Are Saying About Loss Reserves, Social Inflation
At carriers and reinsurers that announced reserve loss charges taken during fourth-quarter 2023, and even at some that did not, executives discussed the "problematic accident years" and lines of ...
‘AI Washing’ Troubles: SEC Fines Investment Firms, Issues Warnings
The U.S. Securities and Exchange Commission this week said it settled charges against two investment advisers related to "AI washing," or essentially making false claims about their use of artificial ...
Why Insurers Should Develop Strategies for Estimating PFAS Loss Reserves
Perfluoroalkyl and polyfluoroalkyl substances (PFAS) are everywhere in the news lately. PFAS refers to a class of chemicals renowned for resisting heat, water and stains—substances that are found ...
Weathering the Reinsurance Reset in the Midwest
In his more than quarter-century career as a reinsurance broker representing the mutual insurance market, the January 1, 2023, property reinsurance renewals stand out in Josh Knapp's memory as a day ...
U.S. P/C Industry Underwriting Loss Reaches 10-Year High: AM Best
AM Best published its annual estimate of the U.S. property/casualty insurance industry's financial results yesterday, reporting that $38 billion of underwriting losses for 2023 was a 10-year high for ...
Federal Reinsurance for Cats: No Thanks, APCIA Says
Federal lawmakers introduced a bill to create a federal natural catastrophe backstop recently, reacting to insurers' issues with growing private reinsurance costs. But a trade group for carriers ...
What to Expect: 8 InsurTech Predictions for 2024
2023 has been a tough year for InsurTechs to raise the Venture Capital they need to grow. Investors turned their backs on whole categories like full-stack carriers and direct-to-consumer startups. ...
Boardroom Clashes Most Likely Over Return-to-Office Policies
Nearly three out of four organizations said return-to-office policies could prompt boardroom battles, according to a new survey of U.S. workplace leaders, showing how senior management doesn't always ...