News
P/C Underwriting Profitability to Worsen as Inflation, Hard Market Persist: Triple-I, Milliman
The 2022 combined ratio for the property/casualty insurance industry is forecast to be 100.7, a worsening of 1.2 points relative to 2021, driven by significant deterioration in the personal auto ...
COVID Impacts Linger in Courtrooms, Often a Disadvantage for Defendants
Courts have reopened and trials have resumed, but the impacts of COVID-19 continue to linger in the judicial system, a panel of claims litigation experts said during the Combined Claims Conference on ...
When MGAs manage a high volume of insurance submissions, underwriting speed often depends on what happens before an underwriter ever...
Lloyd’s Insurers Must Exclude State-Backed Cyber Attacks to Avoid Systemic Risks
Lloyd's insurers must exclude state-backed cyber attacks in standalone (or affirmative) cyber policies, according to a Lloyd's market bulletin issued this week. The exclusion would include liability ...
Insurers Anticipate Staffing Increase Over the Next Year Despite Recruiting Difficulty: The Jacobson Group
Most insurers (68 percent) plan to increase staff during the next 12 months, while only 5 percent anticipate a reduction in the number of employees, according to the Semi-Annual U.S. Insurance Labor ...
U.S. Traffic Deaths Hit 20-Year High in Early 2022
U.S. traffic deaths jumped about 7 percent in the first three months of 2022 to 9,560, the highest number of people killed on American roads in a quarterly period since 2002, regulators said on ...
Allstate Announces Executive Leadership Changes
Allstate announced that Glenn Shapiro, president, Property-Liability, has decided to retire effective Sept. 30. He joined Allstate as chief claims officer in 2016 and has held his current position ...
Executives on the Move at QBE, Zurich, Pie, Chubb
QBE announced that it has named Chris Killourhy as managing director of QBE Re. The appointment is effective Sept. 1, subject to regulatory approval. Killourhy succeeds Steve Postlewhite, who left ...
Global M&A Hits 10-Year High, Says Clyde & Co.
The volume of global insurance industry mergers and acquisitions reached a 10-year high in the first half of 2022, up 9.5 percent from the same six months a year ago. According to Clyde & Co.'s ...