Industry News
American Family Shuts Down Some Systems to Investigate ‘Unusual Activity’
American Family Insurance shut down "several business systems" after the insurer said it "detected unusual activity in a portion of its network." In an email to Insurance Journal, the Madison, ...
Changes to NCCI’s Experience Modification Factor Take Effect Nov. 1
Alterations to the experience modification factor, or e-mod, rules by the National Council on Compensation Insurance (NCCI) will impact 36 states where the NCCI governs the workers compensation ...
Executives on the Move at The Hartford, WTW, Hamilton
The Hartford and WTW each announced appointments of chief claims officers. Hamilton Insurance appointed a head of investor relations. *** The Hartford appointed Stephen Deane chief claims officer, ...
CSE ‘Runoff’ Prompts Downgrade, Withdrawal of AM Best Ratings
AM Best announced that is has downgraded and withdrawn the financial strength ratings of CSE Insurance Group's Civil Service Employees Insurance Company and CSE Safeguard Insurance Company, ...
GEICO Lays Off 6% of Workforce; Will Require More In-Office Time
In a letter to employees, GEICO president and chief executive officer Todd Combs said the Berkshire Hathaway company is laying off 2,000 associates, or about 6 percent of the workforce. "This will ...
U.S. Severe Convective Storms Drive Record $50B Insured Losses in 2023
Global insured losses from natural disaster events for the first three quarters of this year reached $88 billion, according to Aon's latest Q3 Global Catastrophe Recap report. The figure is 17 ...
Improved Auto Insurance Results Coming—But Not Soon Enough: S&P GMI
Strong rate hikes fueling nearly a 16 percent in direct written premiums for U.S. private passenger auto insurers will bring the industry combined ratio down from a "worst-in-decades" result for ...
‘Strong’ Commercial Hikes to Continue; Cats, Asbestos Dent Travelers Earnings
Commercial insurance was a bright spot on the third-quarter earnings picture for The Travelers Companies, with strong pricing fueling a record top line and a "best-ever" underlying combined ratio in ...