Industry News
A.M. Best’s Innovation Assessment Set to Roll Out in First-Half 2020
A.M. Best plans to start assessing innovation as part of the credit rating methodology it uses to evaluate carriers in the first half of 2020, Chief Rating Officer Stefan Holzberger said. The ...
Reserve Charge Dents Travelers Earnings; Execs See ‘More Room’ for Rate Hikes
Challenges that fueled prior-year loss reserve development of nearly $300 million at Travelers aren't a problem that is unique to the insurer, executives noted during an third-quarter 2019 earnings ...
Typhoon Hagibis To Cost Insurers at Least $8B; $16B Possible: AIR Worldwide
Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses from Typhoon Hagibis, which made landfall in Japan on October 12, will be between $8 billion (JPY 865 billion) and ...
Adjuster’s Comment About ‘Homeys’ Enough to Allow Discrimination Claim to Proceed
A claims adjuster's comments about "homeys" and "you people" when talking to a South Chicago property owner were enough to merit further proceedings on a discrimination claim against State Farm Fire ...
Rising Drought Risk Spurs Investment Into Water Funds
Investors are starting to pay more attention to water shortages and how to turn them into long-term investments. Water-related exchange-traded funds attracted more money in the nine months through ...
Progressive Teaching Lessons About Commercial Auto Profit: Guy Carpenter Study
Progressive has a competitive edge over long-term players in the commercial auto insurance market and national carriers outpace regionals on workers compensation profit measures, according to a new ...
Loma Prieta EQ Would Cost Insurers $4B Today
The Loma Prieta Earthquake cost insurers less than a billion dollars when it shook Central California on Oct. 17, 1989. Thirty years later, a recurrence would generate $4 billion in insured losses, ...
Auto Insurance Customer Loyalty Is Declining
Last year more than $6 billion in advertising was pumped into the marketplace to encourage consumers to shop and switch their auto insurance providers. Everywhere consumers look, they are being hit ...