Industry News
What to Expect: 2022 Combined Ratio Near 102; Stable or Better 2023
In a report published in early December, Fitch Ratings said a modestly improving earnings picture in coming months points to a "neutral" sector outlook for U.S. property/casualty insurers—and over ...
Executives on the Move at Erie, Chubb, Ategrity Specialty
Last week, Erie Insurance, Chubb and Ategrity Specialty announced promotions that will take effect in 2023. Ategrity's transition fills the top spot in the organization--chief executive ...
Tech Bytes: New Partnerships at Precisely, HSB, Blink Parametric
Data provider Precisely announced its partnership with OneShield, a digital core systems provider for property/casualty insurers. The collaboration means that customers of OneShield can now take ...
Progressive Reports Favorable Ian Development
Insurer Progressive reduced its estimate of gross loss and loss adjustment expenses for vehicle and property claims related to Hurricane Ian by $400 million, pushing the total down to $1.6 billion. ...
Pepper and Notion Combine to Create IoT Platform Company
Consumer-focused Internet of Things platform, Pepper, and property InsurTech, Notion, announced that they have combined to create an IoT and smart home platform business that will offer insurance ...
Customer Satisfaction With Digital Claims Declines Again: J.D. Power
Customer satisfaction with insurers' digital claims systems declined for the second consecutive year, according to a J.D. Power survey of auto and home policyholders. Mark Garrett, director of P/C ...
Chubb Announces Plans for New Philadelphia Office
Chubb has announced plans for a new Philadelphia office that will occupy a state-of-the-art building to be constructed at 2000 Arch Street. Designed with the highest standards for sustainability, the ...
AXIS CEO Benchimol to Retire; Tizzio to Succeed
AXIS Capital Holdings announced that Albert A. Benchimol will step down from his role as president and chief executive officer on May 4, 2023. He will continue with AXIS as a strategic advisor and ...