The most popular articles and news offered by Carrier Management.
Top Content
Members of Congress Urge Insurers to Cover COVID Business Interruptions
A bipartisan group of U.S. House members has asked insurers to retroactively recognize financial losses relating to COVID-19 under commercial business interruption coverage for policyholders. ...
How Silence May Impact Commercial Insurers on COVID Cover
Silence may be deadly for property/casualty insurers writing commercial insurance, an executive of an InsurTech that specializes in analyzing insurance policy language suggested recently, explaining ...
Talent Magnets: Carriers That Employees Love to Work For
There are many sources of information about potential employers for job candidates—and in a digital world, online reviews are a likely go-to at some point in a job search. Mimicking the possible ...
COVID-19: On Disrupted Loss Reserve Diagonals and Lengthening Tails
It's axiomatic to assert that the coronavirus has changed everything both personally and professionally. Going forward, it'll be our aim at Assured Research to strike a balance. No one, of course, ...
Aon, Willis Tower Watson to Combine in Massive Merger Deal
Global insurance brokers Aon and Willis Towers Watson announced a definitive agreement to combine in an all-stock transaction with an implied combined equity value of approximately $80 billion. Under ...
Pressure Builds on Insurers to Be Part of Coronavirus Business Solution
While federal and state legislators try to fashion financial relief for businesses interrupted by the public health actions related to coronavirus, pressure is mounting on private property/casualty ...
Talent Gap Pushes Insurance Companies to Evaluate Diversity Initiatives
Expectations for the work environment are changing as new generations enter the workforce, and as a result, insurance companies are facing increased pressure to evaluate their focus on diversity and ...
The Insurance Jobs of the Future
No one should be surprised that an industry as data-driven and processing-heavy as insurance is in the grip of an earthshaking workforce transformation. As wide-ranging automated technologies assume ...
Leader Sets the Tone at Acuity Insurance
Joan Ravanelli-Miller wasn't always as happy to work at Acuity Insurance as she is today. In fact, the general counsel and vice president of Human Resources remembers a time when morale was low at ...
MGU SageSure: A Tech Company Dressed Up in an Insurance Company
While InsurTech carriers selling personal lines insurance see software licensing deals as new avenues to growth, a technology company operating in the special niche of catastrophe-exposed property ...
The Impact of Coronavirus on Workers Comp: NCCI
The National Council on Compensation Insurance (NCCI) has offered its perspective on the potential implications of coronavirus on the workers compensation industry. Compensability: Workers comp laws ...
Property/Casualty Insurance Outlooks: What Experts Say to Expect in 2020
What does the year have in store for property/casualty insurers? There have been a lot of predictions published since late last year, with most forecasters commenting on insurance market conditions, ...
CIO Checklist: COVID-19 Highlights Need to Revisit Continuity Plans
The importance of well-documented business continuity and disaster recovery plans has reached new urgency with insurers. Natural disasters and cybersecurity issues are on the rise, and new threats ...
PURE Group: Seeing the Whole Person
If someone from PURE Group decides to leave the high-net-worth insurer to pursue a career as a race car driver or an avalanche rescuer, the carrier's leaders wouldn't be devastated. "We might have a ...
How Insurance Executives Can Harness the Power of Behavioral Economics
Property/casualty insurers, whether they know it or not, are well-schooled in behavioral economics. We used to intuitively understand business success was about customer relationships and driving a ...
Insurance Conferences Go on Despite Coronavirus, but No Handshakes (or Buffets) Allowed
As the coronavirus and its COVID-19 disease spread, Insurance professionals going to industry conferences over the next few weeks and months could find themselves having their temperature taken at ...
Dearly Departed InsurTechs: Expect Their Numbers to Rise
For every Lemonade and Root that launches with great fanfare, attracts hundreds of millions of dollars in venture funding and publicizes every facet of its growth, there are many InsurTechs that ...
Chubb Is Investigating a Possible Hack Attack
Chubb confirmed that it is looking into a possible hack attack, though a spokesperson said the insurance giant's network appears at this point to be unaffected. "We are currently investigating a ...
The Insanity of Analytics in Insurance
Let me tell you about a burr that's been under my saddle for way too long. Simply put, I think that so much of the way analytics and AI are being promoted to the insurance industry is similar to the ...
Good Habits of 5 Successful Leaders
Many leaders can cite good habits that have helped them stay grounded, healthy and effective while achieving success in business and in life. As a successful insurance executive, you probably have ...
Say ‘No’ to Shiny Objects
In their quest to stay ahead of the curve, business leaders might instead be throwing their employees a curve ball. Today's business world prizes innovation. Companies don't want to be left behind, ...
P/C Innovation Leaders Scarce, AM Best Finds; Reinsurers Reign
In an initial test of its new innovation assessment scores, AM Best found that only 1 percent of rated property/casualty insurers merit scores high enough to categorize them as innovation leaders, ...
Coronavirus Crisis Hits Insurers With Double Whammy
Having initially brushed off the potential impact from coronavirus-linked claims, global insurers are waking up to the prospect of a double whammy — a sharp rise in payouts at a time of big ...
Leading Through Crisis
As of this week, many companies are finding they have begun to quickly execute the business continuity plans they have developed and documented in order to address the ongoing COVID-19 crisis. ...
Future InsurTech Venture Financings Could Face a Coronavirus Slowdown
InsurTech venture capital financings in the pipeline appear to be going forward, but the likelihood of future deals could be an open question in light of the coronavirus pandemic, according to an ...
Lloyd’s, AIG, AXA Sued by Native American Casino Owner Over Coronavirus Losses
A Native American tribe on Tuesday sued a group of insurance companies, asking a court to declare that losses it is incurring from shutting down its casinos during the coronavirus pandemic are ...
AM Best Pandemic Stress Test Announced
Although AM Best believes property/casualty insurers won't be as severely impacted by the COVID-19 pandemic as life and annuity players, the rating agency said yesterday that it will be ...
Insurers Know They’re Essential, and Coronavirus Business Shutdowns Prove It
Insurance industry professionals might take some pride in knowing that they are considered essential. In states where only essential businesses are allowed to keep operations going during the ...
Fitch Changes Allstate’s Rating Outlook Due to Life Insurance/Coronavirus Concerns
Allstate has been hit with a downgraded rating outlook from Fitch Ratings, driven by the global coronavirus pandemic and the uncertainty it creates in the life insurance business. Fitch said it ...
At Metromile, the Mission—Not Perks—Motivates Employees
Typical Silicon Valley workforce benefits like catered lunches and gym memberships are appealing to a growing band of disrupters at Metromile, but that's not the most fulfilling aspect of employee ...
How Root Insurance Did What Other Insurers Only Imagined
Having achieved unicorn status with a $1 billion valuation less than two years after its official October 2016 debut, InsurTech carrier Root Insurance Company may seem like an overnight success. The ...
Insurance Information Institute Will Brief State Regulators on Coronavirus P/C Insurance Impact
The Insurance Information Institute will brief state regulators this week on the financial impact/policy coverage issues raised by COVID-19 in the U.S.'s property/casualty insurance markets. The ...
CNA Chooses Miralles as Its New CFO
CNA's CFO slot has a new person in the role. The Chicago-based property/casualty insurer said it appointed Al Miralles as executive vice president and chief financial officer. He replaces James ...
Kingdollar Comments: Emerging Risk Issues Left Out of Algorithms
Emerging issues occur far more frequently than "black swans" and include more than just "casualty catastrophes." Still, such issues have, and will continue to, cost the property/casualty insurance ...
Reinventing the Workforce
More workers are seeking—and gaining—remote work. In fact, the level to which today's employees are working remotely has grown exponentially. Global Workplace Analytics data reveals that the ...
Using Behavioral Economics to Improve P/C Insurance Outcomes
The sensors in your house track your habits and convey them to your insurer, who underwrites your homeowners policy. A customer signs an "honesty pledge" and then reports a claim to the insurer. ...
AmTrust Transferring Republic Personal Lines Business to Liberty Mutual
AmTrust Financial Services said it will transfer to Liberty Mutual renewal rights in six states for its Republic Personal Lines business. The deal involves Liberty's Safeco Insurance unit, and it ...
A.M. Best Downgrades Argo’s Credit Ratings After a Disappointing Q4
Argo Group International Holdings, already reeling from a tough 2019 fourth quarter and year, now must deal with downgraded credit ratings from A.M. Best. The Bermuda-based specialty insurer and ...
Chubb CEO Greenberg Predicts ‘Modest’ Coronavirus Impact for Now
Chubb Chairman and CEO Evan Greenberg said he expects the insurer—at least for now—to experience only modest impact from the coronavirus tearing through China and around the world. The ...
Getsafe CEO Sees Coronavirus as Opportunity for InsurTechs to Prove Their Worth
Getsafe CEO and founder Christian Wiens recently responded to the coronavirus pandemic by touting the benefits his and other InsurTechs can offer the insurance industry now and in the months ahead. ...
Most Insurers Falling Short of Ambitions for Advanced Analytics
The last two years have been a reality check for the many insurers that fell short of their aspirations for implementing advanced analytics to improve key areas like customer experience, claims and ...
Restaurant Suit Tests Business Interruption Insurance for Coronavirus Shutdowns
A restaurant in the heart of the New Orleans tourism district filed a lawsuit on Monday asking a state judge for a declaratory judgment that its business interruption policy will cover its damages if ...
Specialty P/C Insurers More Likely to See Business Interruption Losses: Analyst
The original property/casualty insurance industry reaction that business interruption losses may be modest may have been too optimistic, according to a leading insurance analyst. KBW's Meyer Shields ...
Remaking AIG: CFO Describes Changes in Underwriting, Distribution and More
When American International Group's chief financial officer spoke about "managing change in an evolving insurance industry" at a rating agency conference in November, Mark Lyons focused much of his ...
Coronavirus Business Lawsuits Are Coming
The coronavirus has upended markets, disrupted supply chains and forced quarantines. It's all fertile ground for lawsuits. Hospitals, restaurants, day care centers, nursing homes and hotels may face ...
20 Tips for Leaders: Developing Your Emotional Intelligence
There are no shortcuts to becoming an emotionally intelligent leader. It's hard work. For individuals who didn't start their insurance careers with EI competencies that they developed in school or in ...
Lemonade, Root and Metromile: Can David Challenge Goliath With No Sling?
Continuing a series in which we evaluate and discuss the financial performance and operating results of the InsurTech carrier trio of Lemonade, Root and Metromile, we find continued growth and ...
Executives On The Move at Chubb, Loyd’s and Hamilton Insurance
Chubb picked a rising executive to be Construction Industry practice leader for its large account segment. Lloyd's of London promoted one of its veteran attorneys to be its next U.S. general counsel. ...
Insurers Risk Significant Losses if Coronavirus Prompts Olympics Cancellation
Global insurers face a hefty bill if the coronavirus forces the cancellation of the Summer Olympics in Tokyo, with estimates of the cost of insuring the sporting showpiece running into billions of ...