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Today's Headlines June 22, 2018

Industry Shocker: Reserves Still Adequate

Although analysts at Conning didn't actually use the word "shocked" in their latest report on the property/casualty industry's loss reserve position, the title of the report—and the image on the front page—made it clear that the analysts didn't see the answer they got coming. The answer: Conning now estimates a 2.6 percent redundancy for reserves... read more

Taming the Data Storm: Business Strategy for Specialty Insurers

Harnessing data effectively is the specialty insurance sector's next great evolutionary step. Success in underwriting will soon demand that carriers strategically tap into the enormous pools of data that grow by the second. Specialty insurers lured by huge pools of external data may simply find themselves drowning in numbers if they don't first focus... read more

 Brand Spotlight 
The Many Types of Telematics-Based Insurance

With the majority of millennials interested in a usage-based insurance (UBI) policy, and 84% rating UBI policies as a more fair way to price insurance, telematics represents a major opportunity for insurers. Most US telematics programs offer some variation of a good driving discount more

Maine Employers Not Required to Reimburse Employees for Medical Marijuana Use

The Maine Supreme Court has ruled that employers in the state are not required to reimburse employees for their use of medical marijuana under the Maine workers compensation system because federal law preempts state law. This decision vacates a previous Appellate Division ruling in this matter and marks the first time the Maine Supreme Court... read more

AmTrust Shareholders Approve Revised $2.95B Plan to Go Private

Insurer AmTrust Financial Services said that AmTrust stockholders have approved a deal for it to become a private entity, a deal that values it at $2.95 billion and was negotiated after activist investor Carl Icahn opposed a previous proposal. The deal will pay $14.75 per share in cash, up from its earlier offer of $13.50... read more

German Insurer DFV Considers IPO in Bid to Disrupt Allianz & Co.

With ambitions to challenge insurance giants like Allianz SE, newcomer Deutsche Familienversicherung AG needs 100 million euros ($116 million) in fresh funds to finance its expansion plan. An initial public offering is one path Stefan Knoll, founder and chief executive officer, is considering. "There's an opportunity to grow even more in the next three to... read more

The Next Tobacco? Climate Litigation Threat Growing: Opinion

Last month, a group of 10 families filed an action against the European Union at the European General Court, the EU's second highest court. All claim to have suffered loss from climate change. Specifically, they argue that greenhouse gas (GHG) emissions from the EU have violated their fundamental rights to health, occupation, property and equal... read more

How Do You Count Deaths From a Hurricane?

How many people died in Puerto Rico from Hurricane Maria? It's a question that has been debated since the powerful storm slammed into the island and devastated the U.S. territory last year. It's also raised questions about how officials go about the challenging task of counting deaths and deciding what criteria to use. Someone who... read more

Put Down the Video Games: WHO Declares Compulsive Playing as Mental Health Condition

Obsessive video gamers know how to anticipate dangers in virtual worlds. The World Health Organization says they now should be on guard for a danger in the real world: spending too much time playing. In its latest revision to a disease classification manual, the U.N. health agency said Monday that compulsively playing video games now... read more
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