Markets
Can More Rigorous Accounting Lead to Fewer Workplace Injuries?
Businesses that want to make their workplaces safer might try adopting a more rigorous accounting system, according to a new study that found a link between a firm's workplace injuries and the ...
Insurer AIG Profit Slumps As Investment Income Falls
Insurer American International Group on Tuesday reported a more than 39 percent decline in quarterly profit as investment income fell by more than $1 billion and losses from Hurricane Ian pushed up ...
GEICO Faces California Class Action Claiming It Overcharged for Car Insurance
A federal judge on Monday said a lawsuit accusing GEICO Corp. of overcharging more than 2 million California policyholders on car insurance early in the COVID-19 pandemic may proceed as a class ...
Q3 Net Income Down 30% at The Hartford; $214M in Ian Losses
Compared to the same window last year, net income at The Hartford was down during the third quarter of 2022 — but core earnings were up during what the company's CEO described as a strong ...
Fitch Moves Outlook on Allstate’s A+ Ratings to Negative
Highlighting a sharp drop in underwriting results, declines in statutory capital and outsized additions to prior-period loss reserves, Fitch Ratings moved the rating outlook on "A+" financial ...
Customers Frustrated by Longer Auto Repair Times: J.D. Power
Customer satisfaction with the auto claims process has eroded after four consecutive years of improvement, dropping 7 points to 873 (on a 1,000-point scale) compared to 2021, according to the J.D. ...
What Cyber Underwriters Miss: Small Businesses Aren’t Using MFA Correctly, Advisen Panel Says
As cyber threat actors continue to innovate and find new ways to increase their odds of success, panelists at the 2022 Advisen Cyber Risk Insights Conference urged underwriters to raise the stakes ...
New Weed Products and Firms Mean Concerns, Opportunities for Underwriters
The legalized cannabis industry is rapidly evolving, with new, chemically concocted variants popping up almost monthly. On top of that, management of marijuana and hemp businesses is going through ...