PFAS by the Numbers: $165B Ground-Up* Litigation Losses Possible
When Frank Demento received a mailing from managers of his water district on Long Island last year, the news it contained seemed pretty good.
CFO / Financial
Social Inflation Fix: Insurers Can’t Be Out Front, Chubb’s Greenberg Says
Although insurers can help to stop the growth of social inflation, they can't lead the effort, an industry executive said during an insurance conference this week. Evan Greenberg, chair and chief ...
Questionable Loss Reserves: Are Legacy Reinsurance Deals the Answer?
Twenty years ago, an insurance carrier's use of reinsurance products like loss portfolio transfers and adverse development covers waved a red flag, signaling potential ...
Uncertainty Keeps Prices Up; No Prior-Year Loss Development: Travelers
With its personal lines business benefiting from the impact of rate increases earning into the book, and the commercial lines insurance premium changes staying in double-digits, Travelers reported ...
Ahem. Results for the U.S. P/C Industry Improved ‘Slightly’ in 2023
A new report from AM Best reveals that the U.S. property/casualty industry recorded a $21.2 billion net underwriting loss in 2023, slightly improved from a $24.9 billion underwriting loss recorded in ...
Worst Is Over: Most of Casualty Reserve Hole May Be Filled, Analyst Says
Predictions that the property/casualty insurance industry is in the midst of repeating the type of loss reserving cycle that accompanied the hard market of the beginning year of this century may be ...
What Industry Executives Are Saying About Loss Reserves, Social Inflation
At carriers and reinsurers that announced reserve loss charges taken during fourth-quarter 2023, and even at some that did not, executives discussed the "problematic accident years" and lines of ...
‘AI Washing’ Troubles: SEC Fines Investment Firms, Issues Warnings
The U.S. Securities and Exchange Commission this week said it settled charges against two investment advisers related to "AI washing," or essentially making false claims about their use of artificial ...