Claims & Reserving

The Future of Reserving Is…Complicated

Reserving is, on the face of it, one of the simpler elements of actuarial science (once companies get past the nuances of triangular data tables). They look at the way ...

Warren Buffett’s PacifiCorp Now Faces $30B Claim Demand in Oregon Wildfires

Berkshire Hathaway Inc.'s PacifiCorp now faces a demand for $30 billion from victims of Oregon's 2020 Labor Day wildfires, an escalation of a legal onslaught on the largest grid operator in the ...

Seeking Shelter From Mounting Hailstorms? New Approaches for Underwriters and Claims Execs

Given the forecast transition from El Niño to La Niña, meteorologists predict 2024 will feature yet another active season for hail events and other severe convective ...

Uncertainty Keeps Prices Up; No Prior-Year Loss Development: Travelers

With its personal lines business benefiting from the impact of rate increases earning into the book, and the commercial lines insurance premium changes staying in double-digits, Travelers reported ...

Time-Tested Loss Reserving Methods Challenged: AM Best

Reflecting on one of the trends that surfaced as property/casualty insurers announced 2023 financial results recently, AM Best expects reserve strengthening for accident years 2015-2019 to continue, ...

Worst Is Over: Most of Casualty Reserve Hole May Be Filled, Analyst Says

Predictions that the property/casualty insurance industry is in the midst of repeating the type of loss reserving cycle that accompanied the hard market of the beginning year of this century may be ...

What Industry Executives Are Saying About Loss Reserves, Social Inflation

At carriers and reinsurers that announced reserve loss charges taken during fourth-quarter 2023, and even at some that did not, executives discussed the "problematic accident years" and lines of ...

Why Insurers Should Develop Strategies for Estimating PFAS Loss Reserves

Perfluoroalkyl and polyfluoroalkyl substances (PFAS) are everywhere in the news lately. PFAS refers to a class of chemicals renowned for resisting heat, water and stains—substances that are found ...