Claims & Reserving
California Utility Will Pay $1B to Settle Fire Claims With Local Governments
PG&E Corp will pay $1 billion as part of its bankruptcy reorganization to more than a dozen local governments in California struck by wildfires in recent years, the company and lawyers for the ...
Why Hail Storm Losses Began Rising in 2008 Remains a Mystery
In 2008, the year the stock market crashed and Barack Obama won the presidency, the U.S. was hit with a weather phenomenon little noted by anyone beyond the insurance industry. The country's losses ...
Guy Carpenter Suspends Two Over Email Harassing Incident
A Lloyd's of London insurance broker, Guy Carpenter & Co., suspended an executive for sending a sexually suggestive email about a female colleague. A second employee was suspended for forwarding ...
Two Oil Tankers Damaged in Suspected Attack Near Persian Gulf
Two oil tankers were damaged on Thursday in a suspected attack near the entrance to the Persian Gulf, stoking fears that high-stakes diplomatic efforts won't avert a military confrontation between ...
Property/Casualty Insurance in the Age of ‘Humane Automation’
Welcome to the age of "humane automation." As organizations ramp up technology investments in search of greater efficiency, a global conversation is emerging around the need to use artificial ...
The Latest Launches From Zurich and Everest Insurance
Zurich has a new hurricane deductible buy-back program. Everest Insurance expanded its workers compensation capabilities for the marine industry. *** Zurich has launched Cat4Home, a new hurricane ...
For Legacy Carriers, It’s About Technology With a ‘Human Touch’
The digital transformation of the insurance industry isn't just for InsurTech startups any more. At Allstate, 60 percent of claims are now filed with a cell phone application that allows ...
Wells Fargo Will Pay at Least $385M to Settle Auto Insurance Scam
Wells Fargo & Co. agreed to pay at least $385 million to customers who say they were signed up for auto insurance without their knowledge or consent when they took out a car loan. Terms of the ...