Claims & Reserving
Judge Refuses to Fire Gulf Oil Spill Claims Admin
A federal judge has rejected a call from BP to fire the administrator of damage claims arising from a settlement that followed the 2010 Gulf of Mexico oil spill. U.S. District Judge Carl Barbier ...
Underreserving, Balance Sheet Fundamentals Taking a Back Seat in Rating Agency Analyses
Loss and loss adjustment expense (L&LAE) reserving and reported income are but two components of a thorough, all-encompassing rating agency analysis of an insurer. Today, more than ever before, ...
‘Industry’ Loss Reserve Studies Not Meaningful: Demotech Analysis
Insurance literature is replete with articles, analyses, studies and discussion documents related to industry loss and loss adjustment expense (L&LAE) reserves, the impact of L&LAE reserve ...
State Farm Seeks to Test Drone Use for Damage Response in Illinois
State Farm insurance company is seeking federal approval to test drones in evaluating property damage and responding to natural disasters. The (Bloomington) Pantagraph reported that the ...
Chubb Thrives in Q3 on Higher Premium Revenue
Chubb Corp., the insurer of corporate boards and mega-yachts, said quarterly profit rose 9.8 percent in the company's first increase of the year as premium revenue increased. Third-quarter net income ...
P/C Insurers’ Reserve Redundancy to Continue: Moody’s
U.S. property/casualty insurers' reserves will remain moderately redundant through the end of the year, Moody's Investors Service has reported. "We expect moderately redundant reserves based on ...
The FSB Wants Feedback on Policies For Systemically Important Insurers
The Financial Stability Board (FSB) is seeking public comment on proposed guidance "for the identification of the critical functions and critical shared services for systemically important insurers." ...
Hundreds of Ohio Quakes Tied to Fracking in New Study
A new study suggests fracking triggered hundreds of small, unnoticeable earthquakes in eastern Ohio late last year, months before the state first linked seismic activity to the much-debated ...