Claims & Reserving
Less Than Half of Chief Actuaries ‘Fully Satisfied’ With Reserve Accuracy: WTW
Only 48 percent of property/casualty actuaries surveyed by Willis Towers Watson last year said they were fully satisfied with the accuracy and confidence of their reserving, the global advisory, ...
Snapsheet Execs: Virtual Claims Tech Need Not Take Away Field Staff Jobs
The application of technology in the insurance industry is accelerating at a rapid pace, yet the constraints of legacy infrastructure make it difficult to leverage and integrate new tools to enhance ...
SEC Discloses Edgar Hack; Thiefs May Have Profited From Stolen Info
The vulnerability of governments and businesses to cyberattacks was exposed again Wednesday when a top U.S. financial regulator said hackers had breached its electronic database of market-moving ...
CEO Viewpoint: How Drones Are Changing the Face of the Insurance Business
Sometimes it takes a tragedy—maybe even two tragedies—to change a paradigm. But just as Houston and parts of the west coast of Florida will never be the same after the double disasters of ...
Florida’s HCI Group Estimates $100M-$300M In Hurricane Irma-Related Losses
HCI Group predicts it will handle between $100 million and $300 million in insured losses related to Hurricane Irma, according to preliminary estimates from the Florida-based insurer. The losses will ...
Assignment of Benefits Abuse a Concern in Hurricane Irma’s Aftermath
As Florida residents return home after being evacuated by Hurricane Irma, the pressure is on the insurance industry to keep a bad situation regarding assignment of benefits (AOB) abuse in the state ...
Carriers Must Do Better Job Educating Consumers About Deductibles: IRC Report
A perfect storm is brewing. As hurricane season ramps up on the East Coast, a new report from the Insurance Research Council (IRC) reveals that many homeowners insurance customers don't understand ...
S&P: Primary P/C Insurers—Not Reinsurers—to Bear Brunt of Harvey’s Insured Losses
While it's too early to accurately quantify the insured losses related to Hurricane Harvey, primary insurance carriers—as opposed to reinsurers—will retain the majority of losses, according to ...