Claims & Reserving
Claims Frequency Up for 2021, but Workers Comp Profitability ‘Unprecedented’
For the first time in more than a decade, workers compensation claims frequency, outside of COVID-19 illness claims, increased in the United States last year. But not to worry, the trend won't last, ...
Inflation, Ukraine War Seen as Chief Financial Risks
High inflation, volatility in stock and commodity markets, and the war in Ukraine have emerged as the chief risks to the U.S. financial system, the Federal Reserve reported on Monday in a biannual ...
Multiple Marine Insurance Claims Expected From War in Ukraine: Allianz
Global insurers are expected to receive multiple marine insurance claims from ships damaged or lost as the conflict in Ukraine spills over into sea lanes, insurer Allianz Global Corporate & ...
Travelers CEO Schnitzer: Loss Costs ‘Challenging as Ever to Predict’
In the words of its CEO, there's a "fair amount to pay attention to" from the first-quarter earnings call of Travelers, as the P/C insurer grew net written premiums 11 percent to a record $8.4 ...
How Carriers Are Reimagining Claims Management
With advances in technology comes a skyrocketing quantity of data, and frontline claims operators are struggling to keep up. For insurance executives, the problems that ricochet from this data ...
Natural Disasters Cost Global Economy $32B in Q1, With Only $14B Insured: Aon
Preliminary economic losses from natural hazards during the first quarter of 2022 totaled $32 billion, of which less than 50 percent (or $14 billion), was covered by public and private insurers, ...
This Year’s Hurricane Season Likely to Be Wetter, Just Like 2020
Climate change made the 2020 Atlantic hurricane season noticeably wetter, and it will likely make this season rainier, too, scientists said. Human-caused climate change made the entire season drop ...
Advanced Hackers Have Shown Ability to Hijack Critical Infrastructure
Advanced hackers have shown they can take control of an array of devices that help run power stations and manufacturing plants, the U.S. government said in an alert on Wednesday, warning of the ...