Claims & Reserving
WCRI: Michigan WC Costs Per Claim a Major Bargain
Workers' compensation costs per claim in Michigan were lower than that of the typical state, according to a recent study by Massachusetts-based Workers Compensation Research Institute, with average ...
Commercial Lines Market Headed For Profit Deterioration
Commercial lines insurance underwriters in the United States have generated two consecutive years of significant underwriting profits. However, market sentiment has turned less favorable recently as ...
Florida Coast Developers Can’t Resist Building
Since eight hurricanes whipped through Florida during back-to-back seasons a decade ago, causing $33 billion in insurance claims, the state's coastal communities have added an additional 1.5 million ...
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 ...