Claims & Reserving
Global Reinsurers to Bear Bulk of Losses From Turkey-Syria Earthquake: Fitch
Most insurance payouts due to the earthquake that hit Turkey and Syria ultimately will be borne by global reinsurers, according to Fitch Ratings. "The vast majority of insured losses will be covered ...
Fund Transfer Frauds, Data Theft Trends to Continue in 2023: Beazley
Incidents of fraudulent instruction scams were up 13 percent in 2022, according to specialist insurer Beazley's new Cyber Services Snapshot report. Under fraudulent instruction scams, criminals use ...
State Farm Will Start Hiking Auto Rates, Allstate CEO Predicts
Allstate's chief executive officer said his company will likely continue pushing for auto insurance rate hikes next year, and he expects the carrier's largest mutual competitor—State Farm—to move ...
Swiss Re Expects Hurricane Ian Claims to Bring Q3 Loss
Swiss Re forecast on Tuesday a third-quarter net loss of around $500 million after the reinsurance company absorbed preliminary claims from Hurricane Ian of approximately ...
Latest Target in Florida Claims: Cast Iron Drainpipes
A decade ago, it was questionable sinkhole damages that proliferated in Florida property insurance claims. More recently, "free roof" solicitations, roof claims and thousands of lawsuits have rattled ...
A Fintech Founder’s Backstory: Who Is Demetrius Gray?
During a 45-minute interview, the founder and CEO of a fintech company known as Captain told Carrier Management a little bit about his career path to his current leadership role. Along the way, ...
Reserves and Inflation: Insurers Got This!
According to an analysis of loss reserves published in mid-March by Assured Research, 2021 marked the 16th straight year that the U.S. P/C industry's loss reserves developed favorably—by about ...
McKinsey Chief Says Firm Failed to Identify Opioid Epidemic
The head of McKinsey & Co. acknowledged that it failed to see the opioid epidemic unfolding while simultaneously doing work for drug regulators and makers of painkillers including OxyContin in ...