Claims & Reserving
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 ...
‘Deceptive’ Denial Letter Costs Insurer Treble Damages After Appeal to 4th Circuit
The insurer first said it would pay to repair a breezeway at a student housing complex that partially collapsed during a Saturday night student party. Then it said it wouldn't and sent the ...
Workers Reporting Injuries Earlier in Tenure, Carrier Study Reveals
An insurer's study of a decade of workers compensation claims reveals that injury reports in 2021 came from employees who hadn't been on the job as long as those who reported claims in 2011. On ...
$10B Worst Case Insurance Aviation Loss for Planes Grounded in Russia
A realistic estimate of aviation insurance and reinsurance losses for the grounding of planes in Russia falls in the $5-$6 billion range, but a worst-case estimate of $10 billion would be the biggest ...
Cargo Thefts Down After Spike During Pandemic Lockdowns
A rash of railcar thefts in the Los Angeles area may have given a different impression, but nationally the number of reported cargo thefts dropped by 15 percent in 2021 compared to the prior year, ...
On the Highway: A Litigator’s View From the Driver’s Seat of a Tesla
In 2016, Mike Nelson, the founder of InsurTech Quantiv Risk, bought his first Tesla and embarked on a 12-state cross country trip to get a first-hand understanding of where automobile technology was ...
D&O Loss Ratios Unchanged by Rate Hikes: Supply Disruption to Fuel Suits
Directors and officers liability insurance premium rate hikes have not had the anticipated impacts on loss ratios that carriers had hoped for, AM Best reported Monday, citing the impact of social ...