Claims & Reserving
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 ...
Survey Shows Customers Expect 5-Day Claims Payouts, Not Paper Checks in Future
The vast majority of insureds expect claim payouts to take no more than five days, a new survey shows.
The survey shows 82 percent of ...
Workers Compensation: Waning Benefits From Decreasing Opioid Rxs
Workers compensation has been a profit juggernaut for the property/casualty insurance industry over the past several years.
Underwriting ...
Reducing Claims Overpayment Is Vital for Carrier Survival
Failure to catch overinflated claims is costing the insurance industry tens of billions of dollars each year. Paying too much or too little on a claim isn't beneficial to ...