News
Progressive Maintains Strong Pricing/Reserving Stance Amid High Auto Costs, Catastrophe Losses
During a Q2 2023 earnings call this week, Progressive Corp. announced their earnings goals fell short of its combined ratio target of 96, as a result of catastrophe losses and increases in vehicle ...
Russia-Linked Hackers Behind Dozens of Microsoft Teams Phishing Attacks
A Russian government-linked hacking group took aim at dozens of global organizations with a campaign to steal login credentials by engaging users in Microsoft Teams chats pretending to be from ...
Europeans Lack Insurance Protection as Wildfires and Drought Batter the Region
Europeans are among the least insured against certain types of extreme weather and other natural disasters in the developed world, a predicament made more worrisome as the continent suffers a summer ...
GAO Urges Changes to NFIP as Study Highlights Potential $27B Shortfall
FEMA's National Flood Insurance Program (NFIP) substantially improved ratemaking by implementing Risk Rating 2.0 in 2021, but the program faces a potentially significant premium shortfall, a study by ...
Employee Retention Top Operational Goal for Businesses: Study
More than half of U.S. employers (51 percent) reported a turnover rate of at least 15 percent in 2022, up three points from 48 percent in 2021, according to Gallagher's 2023 U.S. Organizational ...
Auto Insurance Premiums Rise 17 Percent in H1 of 2023: Report
Car insurance premiums are skyrocketing primarily due to rising auto parts costs and extreme weather, according to virtual insurance agent platform Insurify's Q3 2023 Mid-Year Auto Insurance Trends ...
Allstate Records $2.7B Net Catastrophe Hit on Way to Q2 Loss of $1.4B
Allstate Corp. reported net catastrophe losses of $2.7 billion in the second quarter, resulting in a net loss for the period of $1.4 billion as catastrophe and underwriting losses offset other ...
Developers Working to Determine if AI Chatbot Falsehoods Are Fixable
Spend enough time with ChatGPT and other artificial intelligence chatbots and it doesn't take long for them to spout falsehoods. Described as hallucination, confabulation or just plain making things ...