Claims & Reserving
Moody’s Says FASB’s Reserve Disclosure Update is a Plus for Credit Analysis; IFRS Differences Remain
In a Credit Outlook report published earlier this week, an analyst from Moody's Investors Service described an updated accounting standard related to property/casualty insurance loss reserves as a ...
NOAA Forecasters Say El Niño Weakens Atlantic Hurricane Outlook
The Atlantic hurricane season will be less active than usual, producing six to 11 named storms through Nov. 30, as moderate sea-surface temperatures and an El Niño weather pattern limit storm ...
P/C Insurer Net Income Over $55B for 2014: ISO/PCI Report
Net income for U.S. property/casualty insurers totaled $55.5 billion after taxes last year, coming as little surprise to experts who had forecast a $50-billion-plus result early this year. In early ...
U.K.’s FCA Finds Small Companies Treated Poorly by Insurers
The U.K.'s Financial Conduct Authority (FCA) criticized the insurance industry for "poor practices" and "significant" failures in handling claims for small and medium-sized companies. The regulator ...
Proactively Identifying and Managing Back Claims May Reduce Costs by 33%
A combination of sophisticated predictive analytics and early, expert medical assessment can significantly reduce the cost and duration of workers compensation back claims, according to new research ...
Full Power of Data-Driven Analytics Still Largely Untapped by Insurers
The depth and breadth of predictive modeling applications are growing as insurance companies become more comfortable with this core function in modern property/casualty business. However, few ...
Swiss Re Exec Reports: There’s a Perfect Storm Brewing
There's an irony in the term "perfect storm" that insurers understand better than anyone. Not only do we help policyholders recover from them, but we may be in for one of our own. Like shifting winds ...
Allianz Estimates $300M Cost for Germanwings Crash
Allianz estimates insurers will pay $300 million in claims and costs stemming from the crash of a Germanwings plane in the French Alps last week, insurance industry sources said on Monday. The figure ...